I feel like I’m writing these budget reviews a lot more often than I truly am. That just goes to show how fast these months are flying by. We officially made it through the first quarter of the year and I hope everyone is still rockin their annual goals. You can check out my first quarterly update on my goals here.
On a side note, I’m sharing my journey toward saving half of my income after taxes on Frugal Portland today, so my budget reviews are going to become even more valuable as I strive to increase my savings rate.
If you’re new here, I post my monthly spending, saving, and debt payments to increase my budgeting skills and be accountable for my goals. I split a few living expenses with my bf like rent, groceries, and household toiletries, but we’re happy with keeping separate finances for now. I also like to post my highs and lows for the month to highlight the good and the bad and make changes for future months.
Highs
Lows
Onto The Budget
Living Expenses/Utilities/Other Bills
Rent: $315
Fuel: $165.05
Groceries: $150
Household Toiletries: $15
ComEd: $80
HealthShare: $131
My Phone: $12
Daycare: $212
Gym: $14
Bed Payment: $25 (Read more about Ray and I’s decision to purchase our Tempurpedic bed here)
Credit Cards from last month: $129
Auto Expenses: $43.03
Entertainment/Misc.
Movie Theatre:$8.90
Friend’s Birthday: $35
Dining Out: $49.44
Easter Items: $14.40
Water Resort Groupon: $55
Gifts: $43.29
Clothes: $0 (Month 2 of my 6-month shopping ban is complete)
Debt Payments/Savings
Car Note: $300
Student Loans: $140
Emergency Fund: $250
Car Savings: $0 Got new tires instead
Insurance Payment: $60
Professional Development
$182
Total: $2,429.11
How did your budget go for March?
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C@thesingledollar says
That all looks really good! Sounds like a fun staycation indulgence that’s not very expensive. My March was a total mess due to those plane tickets, but I also have a 50% savings goal for the year so I have to work hard on that in April to catch back up.
Chonce says
Yeah my staycation budget is only $100 so I’m pretty sure I’ll be cutting it close but it’s still not a lot at all. I’m maybe at a 35% savings rate right now and my goal for the year was 40% but now I’m really hoping to get to 50% somehow. Good luck on your savings goal!
Diane says
It must be something about March! My month was complete mayhem; budget, business and blog-wise.
Congrats for a second month of no clothes spending. It can be a hard habit to break.
Don’t stress about paying for your taxes… 🙂
Chonce says
Thanks Diane, and hopefully April will be more of a calm month for you 🙂
Petrish @ Debt Free Martini says
You are doing so well. I have never broke down my budget to the dime like this. I just don’t have the patience, so when I see others do it I am so impressed. Great on the emergency fund accomplishment. It feels so good when you know if somethings happens you are covered. Good luck this month.
Chonce says
Thanks Petrish!
Jennifer @ WanderlustWallet says
Congrats on making strides with your emergency fund and paying down debt! I love your creativity with deals for the staycation and your goal of saving 50 percent of your income. Saving a large portion of income is an eventual goal of mine also. 🙂
Chonce says
Thanks, Groupon has some really good deals every once in a while that I just have to take advantage of.
allroundbetterme says
Way to go on the no clothes spending!
Our March budget was not at all followed… maybe there is something with March. But April is a new month, and I plan to try harder to stick to the budget.
Awesome deal for your staycation!
Chonce says
It was a great deal and a ton of fun as well. My main approach with my shopping ban is just avoidance and I went through all my clothes and organized everything this week so I really proved to myself how much I already have. Wishing you good luck in April!
believeinabudget says
I had to pay to get my taxes done this year and it was such a big expense. Nice idea with the Groupon for your staycation! I should look into that more for things to do around town for cheap.
Chonce says
Yeah it was a great time and the Groupon helped a lot. I’m seriously considering doing my own taxes next year before they get all complicated down the road.
Allison Lindstrom says
Love this budget review! I feel like I can’t relate to anyone that doesn’t have their credit card bill or their student loans listed on their budget.
Chonce says
If you do have debt it’s a must to include your repayment plans in your monthly budget for sure. Thanks for stopping by Allison!
Christina @ Embracing Simple says
That groupon sounds like an awesome way to make your staycation inexpensive but really fun! Is it to Key Lime Cove? I’ve yet to go, but it looks like a really fun time!
Chonce says
No I wish, I’ve never been there either because it seems so expensive but it was to Coco Keys though in Rockford. Very similar and it was pretty fun!
Charissa says
Ha, I do the same thing with savings and missing money too, especially if I am not tracking my expenses well. I really like following a zero based budget as it helps a lot with having a variable income. I am also more likely to follow through with putting money in savings when it is earmarked for savings and also if I spend less in a category.
Chonce says
I am definitely leaning more toward a zero based budget. Once I move and reorganize all my expenses, I’ll have to create one.
Michelle says
Last year after reviewing my MINT account I discovered that I had $4300 in unaccounted for funds. Not COOL!! March and April are hot mess months for me, but things are looking up. Good job on managing your budget so well!!
Chonce says
Wow that just goes to show how much things add up. I need to work on reducing the amount of ‘mystery money’ in my budget each month.