January 2015 Budget Recap

Welcome to the January 2015 Budget Recap – a few days late….

Note: We use Mint.com to track our finances.

2015 January Budget Recap

2015 January Budget Recap

 

Woohoo!:

  • Stayed under budget overall!
  • I’m really proud that I was able to resist temptation to keep from going over budget this month. Although we went over in food, it could have been much worse….

Whoops!:

  • We went over on our food budget. We came so close, though! I’ve decided to keep our budget at $600 for next month.

Thoughts:

  • I did something that I haven’t done in the past – gotten only part of a tank of gas in order to stay under budget for that line item. In the past, I would just think, “Well, I have to get gas anyway, why should I stay under budget?” In some ways, I still feel that way (I’m going to use the gas anyway!), but knowing that I would be accountable online, I was a lot more mindful and made every attempt to stay under budget in each item.
  • I still love the $200 slush fund line item. It makes it so easy to put things into one category (things that couldn’t be covered by our sinking fund). It’s definitely staying, though I fear that February’s slush fund is already cut into quite a bit…. Eeep.
  • Normally, if we had money left over in the budget, we would put it to our Student Loan Debt Eradication fund (which we’re keeping in our savings account until there’s a big enough amount to warrant sending the payment to Navient); however, we are still waiting on our reimbursement for H’s business items return, and I kept all extra money in the checking account since we had to pay the credit card bill to avoid interest.
  • I was even more aware of our budget this month – all because I knew I would be posting the results! I couldn’t STAND to be over budget for this first month! I was so upset when we went over in the food budget (by $5.22, but still!). I think this new exercise is going to be a great motivator this year!

I have two more posts to write this week: the first will be a general month overview, the second will be a preview of February’s budget…. Hopefully it won’t take me forever! Hope you’re having a great start to February!

 

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