Another month has flown by and I’m honestly not that phased. I’m so ready for spring and I have a staycation lined up at the end of this month so I CAN NOT wait.
Last week was a bit hectic as we were pushing to meet a goal at work and as I was emailing a client I ended up calling him Amy for some reason and completely embarrassing myself, haha. Nine days of not going to work is just what I need at this time since I don’t have any vacations lined up this year and I plan to just work through the summer.
So back to the budget. Things were pretty normal this month. I mean I didn’t spend a fortune on my car and there were no crazy fires or issues with my income like last month. And after I challenged myself not to spend any money dining out, entertaining myself or buying clothes for the month of February, things were still very tight. It seemed like after I got rid of some expenses some new ones came right in like clockwork to take their place. Maybe my high and lows for the month of February can explain.
My Highs
- I’m still paying down debt. This is always going to be a high because no matter what I go through or how financially drained I feel at the end of the month I make sure I pay myself first. I’m determined to eliminate my debt ASAP and I’ve even changed one of my annual goals from putting $8000 toward my debt this year to paying off my car completely. Check out my debt updates to keep track of my latest progress.
- I landed a new freelance client this month! Whoo hoo! Very soon I’ll be contributing to another personal finance site and cover topics like eliminating debt, increasing your savings rate etc. I’ve cleared my schedule and I’m happy to be taking on new freelance writing and virtual assistant work so if you or if you know anyone who is hiring or looking for help, please send them my way 🙂
- I opted out of ObamaCare this year and I joined Liberty Healthshare, a Christian health sharing ministry. I spent way too much time looking over health care plans and options and I decided to go with Liberty Healthshare because it seemed like the most value for an affordable cost. I’m blessed to be in good health and I just don’t feel like dealing with those crazy high deductibles if I do need care this year.
My Lows
- My childcare costs went up starting March 1. This could be a low for March but I was thinking about it a lot in February and decided not to let it tamper with my budget too much so I’ll just adjust things as necessary. Plus I’m only doing daycare with my son for 3 more months until we move, then we’re out of there.
- My ComEd bill was $178 which is pure ridiculousness. I kind of expected a higher bill since we had days where the temperature was so low they closed schools. In those cases, it was either turn up the heat or freeze (everything in my apartment is electric including the stove and heat so all these costs get added to ComEd). But having the bill be $100 more than my $80 budget was a big eye opener for us.You also won’t see that large total reflected in my budget below because Ray and I shared the costs and set up payments for that crazy bill. We’re trying to become more conscious of how much electricity and heat we use and keep the thermostat in the mid 60s (65-68) when possible. But to be honest, I’m over this winter and I just can’t wait until things warm up even a little bit so I can be done with this winter heat drama.
Onto the Budget
Living Expenses/Utilities/Other Bills
Rent: $315
Fuel: $142.30
Groceries: $152
Household Toiletries: $15
ComEd: $85
HealthShare: $266 (Introductory fee and first month’s sharing amount)
Sister’s Phone: $50
My Phone: $12
Car Insurance: $107
Daycare: $151
Gym: $14
Bed Payment: $25 (Read more about Ray and I’s decision to purchase our Tempurpedic bed here)
Credit Cards from last month: $160
Entertainment/Misc.
Concert With My Mom: $21
Dining Out: $0
Clothes: $0 (Month 1 of my 6-month shopping ban is complete)
Debt Payments/Savings
Car Note: $300
Student Loans: $140
Emergency Fund: $250
Car Savings: $150
Professional Development
$182
Grand Total: $2537.30
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thesingledollar says
Hey, you’re doing great! I love the debt payoff amount, and you hardly spent on anything that wasn’t a flat out absolute need. Sorry about the electricity bill, but winter will be over really soon now…I promise.
Chonce says
Thanks! And yeah I just can’t wait to go outside again and not have to deal with wiping the snow off my car every morning. Almost there!
Tonya@Budget and the Beach says
Congrats on landing the freelance client! I need to work on getting a couple more myself this month! Keep thinking of that awesome break you’ll get soon! It’s what’s keep me motivated! 🙂
Chonce says
Thanks Tonya! It’s definitely a big motivator right now. Been a while since I’ve had a little break.
simplecheapmom says
Nice work with the no spending this month Chonce!
Chonce says
Thanks Emily, it was definitely a challenge!
kay ~ lifestylevoices.com says
I don’t know how you keep some of those expenses so low, but it sure is inspirational! Congrats on the writing gig. I love your writing style! 🙂
Chonce says
Aww thanks Kay!
Bill says
You had a crazy fire last month? Sorry to hear that! Seems like things were better this month. Wow a $0 entertainment budget is a very good idea, I will look into doing it myself now, thanks!
Chonce says
You should! It’s really eye opening. Thanks for stopping by!
Prudence Debtfree says
“It seemed like after I got rid of some expenses some new ones came right in like clockwork to take their place.” Perhaps you can find comfort in the fact that you are not alone in experiencing this phenomenon. Ugh!
Chonce says
It is pretty annoying isn’t it? But things should settle down once I move this summer.
Fig says
You’re doing great! Congrats on landing the new freelance client! And great job with your rent… that’s so low!
Chonce says
Thanks! And yeah I realize rent is pretty cheap compared to all the space I get and the quality. I live in a semi-rural town far away from the city so the cost of living is pretty low. But then again, there aren’t really any good jobs in my field near my home so I have to commute and work closer to the city to get paid well. So it’s give and take.
Holly@ClubThrifty says
We joined Liberty Healthshare too! Our other option was paying $800ish per month for a plan with a $12,000 or $13,000 deductible. Plus none of the cheaper plans included any specialty hospitals in their networks. We would basically be paying the equivalent of a house payment to have access to the same doctors as Medicaid patients….but still have a deductible that is huge. No thank you!
Chonce says
Woah those are crazy high deductibles. I like how you only have to put up $500 per person for Liberty HealthShare. I’m going to try it out for a year and see how it goes but it definitely feels like I made the right choice so far.
Christina @ Embracing Simple says
Nice job Chonce! Big congrats on the new freelance client!
You’ll have to do a post on your staycation – are you planning on relaxing at home, or hitting up some fun places around Chicagoland? 🙂
Chonce says
Thanks Christina! And you read my mind I’ll probably put one up next week and I plan to do a little of both since my son will be on spring break. I know he really wants to go to Brookfield Zoo so we’ll probably do that and get into some other fun stuff, and most important, relax 🙂
Anne - Money Propeller says
Ahhh winter! We’ve got the tropical winter weirdness going on over here, so I am hoping that the condo has lower than normal heating costs for the year… reflected in some rebates to our condo fees at the end of the fiscal year. *fingerscrossed*
I hope March is easier on the utilities for you.
Chonce says
That would be really nice and something to look forward to at the end of the year. And thanks I hope so too!
believeinabudget says
I love the new website look! Congrats on great no-spend month, that’s impressive!
Chonce says
Thanks Kristin!
DC @ Young Adult Money says
I’m envious of your rent!!! So cheap!! It’s been about 4 year since I had rent that cheap, and I was loving it. Had four roommates but had my own room in a 3 story house and we all got along pretty well. Allowed me to sock away thousands for my wedding, honeymoon, and wife’s engagement ring.
Chonce says
That’s great how you were able to save so much with low rent. I’m grateful for my rent as it’s extremely low since my bf and I split the total 50/50 and I have a great apartment, but I have to spend more on fuel costs and vehicle repairs because my commute to work
Jessica says
Sounds like you had a pretty good month overall. Congrats on landing a new freelancing client. That’s pretty exciting!
Chonce says
Thanks!
Tennille says
Paying off the car sounds like a great goal to have! After we made our last car payment we felts like we got a raise!
After you have had your health care plan for a while could you write a review? My husbands work contract will be up at the end of the year so I’m not sure what our options will be for health insurance.
Chonce says
I can understand how it would seem like a raise once all the income gets freed up and you no longer have to spend it on the car note. I’m hoping it will be the same for me. And I’d be happy to do a review after a few months of using Liberty HealthShare. Thanks!