February 2015 Accountability

Copy of  January 2014 Accountability

Hey, there! This month, I’m rolling the “Accountability” post into the Budget Recap post and will just smoosh it all together. So, here’s my February 2015 recap, broken into two sections: Budget and Debt Eradication.


Budget Accountability for February 2015:

Feb 2015 budget recap

Click to embiggen

Woohoo!:

  • Stayed under budget overall! (Second month in a row!)
  • Stayed under budget in our Slush Fund, which makes me super happy, because I had feared that we would always spend right up to the finish line, since it’s “there.” The added benefit of not spending up to the limit in that category (and two others) allowed us to still come out ahead overall, even after overspending on our food.

Whoops!:

  • Again, over on the food budget (also for the second month in a row). I raised the budget to reflect the money my mom gave us for Valentine’s Day and my birthday for our dinner out ($160) – it was an amazing dinner and it was totally worth it. We also went to Sam’s Club and spent $161 there on paper goods and some fruit as well as frozen chicken breasts (which – along with Trader Joe’s turkey meatballs – is pretty much the only meat we eat).

Thoughts:

  • We spent a good amount of money this month – about $1500 for our AirBnB stay in France for the summer. I was supposed to get the reimbursements from the others who are going with us, but we haven’t yet. (Of course. I’m not really surprised. I just hope we don’t have to pester everyone for them. We put it on our card so we could generate more travel points for buying our plane tickets soon!) We paid for the reservations out of our Travel Fund, but this still did affect our net income for the month.

Debt Eradication for February 2015: 

Feb 2015 Debt Eradication

Click to embiggen

This month was another “building up” month. That’s what I’m telling myself, anyway, since we didn’t send a big chunk of cash to Navient to pay down more than just the minimum on our student loans this month. Instead, we squirreled more away in order to be able to send a big chunk next month. I was building up to more than $2000 because one of H’s student loans is $2K more than the other. My master plan? To pay down that one loan (via a paper check and a VERY CLEAR LETTER to Navient about applying that money to ONLY that loan and not both of the loans) so that the balance of each of the loans are closer. Then I can pay future extra payments online and not give a rat’s a$$ about how they’re applied (as long as I pay the day after our automatic minimum payments go through). Both of the loans have the same interest rate, by the way, which is why I wanted to pay down the higher one first, of course.

2015 Debt Eradication so far (click to embiggen)

2015 Debt Eradication so far (click to embiggen)

February 2015 Net Income: $379.50 $590.81 (Edit: I found a duplicated transaction in Mint and deleted it, which upped our net income for the month!)


Snowflaking: $929.75 (moved to Student Loan Debt Eradication Fund)

  • $50 – a one-time side hustle gig for H
  • $40 – a regular side hustle for H
  • $14.48 – Ebates
  • $339.92 – reimbursement from H’s business expense (finally!)
  • $193.62 – transferred from sinking fund to reimburse payment for original cost of the business expense (I didn’t know exactly how much we were spending on it since we hadn’t been reimbursed the difference until now – but we’d already paid the credit card bill)
  • $9.02 – difference between our federal tax refund and the cost of Turbotax
  • $205.18 – a surprise reimbursement from my health insurance from my former job. Not sure exactly what’s going on with that, but I was sure happy to deposit that check!
  • $36.53 – Mary Kay order
  • $41 – income from the consignment store (we actually got $56, but I got it in cash and used some of the money for a $6 toy from the store for L, $6 for parking when we went out to dinner, and then a $3 tip for the pizza we got for the babysitter that same night)

2015 Consigning Totals: 
I’m curious about how much we will make in one year by consigning our clothing and L’s old toys at my favorite consigning store (and any other sales if I decide to participate). 
  • $56 (February) – this was unusually high!

2015 Mintly Snowflaking Goal Progress:

My goal originally was to snowflake at least $50 per month, for a total of $600.
I blew that out of the water completely with our snowflaking this month! Maybe it’s time to revisit that goal?!
  • $110.01 (January)
  • $929.75 (February)

2015 Snowflaking total so far: $1039.76

To see more 2015 Mintly Goals, please click here.

Life Accomplishments this Month:

  • I had a birthday!
  • H had a very successful event at work – I’m very proud of him! (Awww!)
  • We had a great date night – it cost a total of $219 (that includes the cost of the dinner, parking, the babysitter, the pizza for L and the sitter). Wow! But we don’t exchange gifts, and we paid for it out of the money my mother sent and taking money from the Slush Fund.

Well, that’s about all…  and it sure seems like a lot. I’m not sure what exactly the point of these posts is, except that I do like organizing my thoughts about our finances each month. I’m hoping I find a format (an effective way to share this information) that I really like so that I can hit my stride with this!

What’s on the March agenda debt repayment plan for you guys? Anyone else save up to make a large payment, or do you just make your extra payments whenever you have the extra funds? I’m curious as to the most effective (but also least-stressful) method of making those extra payments….

Advertisements

2 thoughts on “February 2015 Accountability

    • That makes a lot of sense! I depend heavily on that “lift” as well, so I’ve been considering your strategy. I also wonder if it’s (in the end) better, because even if you pay it down little by little, that’s less principal that’s getting used to determine interest.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s