Alright, on to the yearly budget! The year is more than 1/3 over (34%, but who is counting ;-)), and we track random (non-standard monthly expenses) costs in the yearly budget. I'm going to remove taxes for the purpose of this check in, as it obviously throws off the entire budget & makes it hard to manage with the giant numbers included. So, here goes!
Areas where we're under (as measured by % of year elapsed compared to % of spend):
- Auto - We've only spent 6% of our budget, so we still have $1400 to spend here.
- Boys college - I've only put $50 in the boys account, so I'm at 2%. This is because I made a ton of changes (switched providers, got a full refund, etc) & had a much larger amount than expected to put in due to gains & refunds. I will put some additional money in their accounts, so expect to catch up later in the year.
- Charity - we're under and tracking at 9%, but we donate almost everything in Q4.
- Christmas - at 2% (taxes/fees on frequent flier flights for the holidays). I do expect to come in under budget for this category, as we were able to use our miles to pay for the airfare.
- Clothing - we're at 27% of spend, and I expect to keep this in line and come in
- Gifts - we're at 16%, but I have Father's Day & M's birthday coming up. I expect to spend at or around the budget by the end of the year. I'm under because I was able to use Amazon gift cards for some of the boys birthday gifts.
- Health - we've spent 9%, but I plan to do a few runs between now & the end of the year, which will increase this.
- Boys (all) - we've spent 74%, most of this was for school donations, and field trips. This was a much more expensive category than I'd expected.
- Boys Activities - We're over. We've spent 102% of our budget & will still have fall soccer coming up. I need to do a better job of measuring & tracking this category, but I'm happy with their existing activities (just soccer, plus the occasional swimming lessons).
- House - we've spent 37% so just a little over. No major concerns here.
- Personal - we've spent 46%, mostly due to my lavish 40th birthday massage. No regrets, but have cut back other personal expenses to try to bring this in line by the end of the year.
- Travel - we've spent 83%, so way up. But, we've booked & paid for almost everything. I do plan to spend more than our original budget. Mostly because I'm going to pay for part of a trip that M is planning with my Dad & his buddies. Aka - the Las Vegas "trip of a lifetime". More details forthcoming on this. ;-)
Net/net, removing the taxes, we have spent 47% of our yearly budget, with 1/3 of the year elapsed. So, we need to slow our spending. ;-) I'm still hoping to come in right around our budget, but slightly over. I'd be happy if we were around $5,000 over, so I'll have an update on plans around this soon. What about you? Do you have a yearly budget as well as a monthly budget? How are you doing with your spending & saving?? More on saving soon as well!