With the epic failure of my January budget, I’m going to try and really focus on my spending in February. I also need to get my fiance a bit more on board as well. I don’t want to say that he’s not already on board, but I really don’t want this to be about me telling him what our budget is and giving him the “okay” to spend money. This should be a shared thing.
So last week we reviewed our January spending, and discussed some of our plans for February. Together we determined that the biggest culprit for spending (other than my complete lack of regard for travel plans) was eating out, snacks, take out, delivery, etc. (Pretty obvious by the results I posted yesterday…) So, for the month of February we are going to do a zero eating out challenge. No going out for lunch, no stopping at coffee shops, no delivery when we are too lazy to make dinner. Zero. All food must be purchased at a grocery store and prepared at home. We are 9 days in to February already, and so far have been successful (well, one minor purchase by my fiance because of a travel day for his new job, but we won’t count that one). Only 19 days left to go.
As a bonus, my fiance (I’m really going to have to come up with a better name for him on here…) got a new job that started this month. We got the unfortunate news that the wait-list for his schooling is way longer than we had anticipated, so he went out and got himself a new job that will hopefully give him something interesting to do while still contributing financially to us. Side note on this one, since our deadline for saving his education fund has lengthened, we may work a bit harder at the home reno fund for a while since that deadline is now closer.
I mentioned when I posted my original budget in January that I wasn’t sure if I’d like the format that I started with, and, as I mentioned yesterday, I have decided that I don’t really like it. It’s hard to post results when things don’t go as expected when things are in percentages. I have the straight numbers in my spreadsheet on my computer, so why not use them on here? I’m a bit nervous about sharing specifics, but since it is joint expenses between me and my fiance, and also not specific transaction amounts, just monthly totals, it should be okay, right? Here’s hoping that I don’t regret this, but I’m going to move to currency numbers for now. I hope this will help me…
So without further ado, here are my budget numbers for February:
1. Mortgage & Property Tax: $ XXXX**
2. Utilities & Home Insurance: $ XXX**
3. Savings & RRSP Contributions: $ XXX**
4. Life Insurance, Medical & Family Expenses: $ XXX**
5. Cable, Cell Phones & Internet: $ XXX**
6. Car Insurance, Maintenance & Gas: $ XXX**
7. Food (& Liquor –
including eating out we aren’t eating out this month): $ XXX**
8. Household Goods & Toiletries: $ XXX**
9. Fitness & Sports: $ XXX**
10. Clothing & Personal Care: $ XXX**
11. Misc. Others: $ XXXX**
Sorry, no pretty graph this time… Just the numbers.
Since I’m posting this already a week in to February, I can say that so far we are not over budget in any category, which is good progress from last month.
How has the first week of February budgeting worked out for everyone else?
**Edit: I have decided that I don’t want to share my actual numbers on the blog, so I have removed them from this post… Sorry if it makes it a bit confusing or unreadable… Hopefully it isn’t unbearably so.