February 2017 Financial Update

I set some pretty challenging financial goals for 2017, and it’s time to do the 1 month check-in.  This will be really short and sweet because I don’t really have much to report…

#1 – Emergency Fund

Not much progress on this one, but if we don’t use any of the emergency fund money, that’s sort of a win in itself, right?

Human Emergency Fund = $6300 (+$100)

Pet Emergency Fund = $100 (+$100)

#2 – Planned Spending

So far, we have $250 of the $3000 saved for the first part of this goal.  Better than nothing, but not exactly the savings rate that we need to be successful…

  1. Travel #1: $250 / $3000
  2. Income Tax: $0 / $400
  3. More Home Renos: $0 / $35,000
  4. Other Travel: $0 / $5000
  5. Other Savings: $0 / $16,000

#3 – Net Worth

If you read my initial post about my financial goals for 2017, you know that the goal is to actually decrease our savings because we are spending a big chunk on our home renovations.  So… our net worth went down a bit this month, as to be expected… We started spending some of our home reno money… And as you saw above, we didn’t exactly save a lot… Not really much else to report on this one yet… Too early in the year…

february-2017

#4 – Monthly Spending below $8000

Nope, not this month.  January’s spending came in at $8800.  $800 over the target.  Which is why the savings in goals #1 and #2 were not as high as we wanted…  You can see a big chunk of it is the red category, which is our mortgage.  We are on a bi-weekly payment schedule now, and there were 3 payments in January… Without that, we would have been under, so maybe that’s not too big of a deal?  We will see how we do in February…

january-2017-spending

So, not exactly the best result for the first month of 2017, but hopefully that will give us the motivation to do better in February, right?

 

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10 thoughts on “February 2017 Financial Update

    • Hello Eva! I use YNAB (you need a budget) to track our spending and budget, and it makes lots of pretty graphs and reports for me to play with. Plus, I use the spreadsheet application on my Mac computer to make some graphs too. I highly recommend taking a look at YNAB if you are looking for something to budget/track spending with.

      Liked by 1 person

        • Those are great goals to have! And YNAB might be able to help you with them. You can do a full month long trial with it before purchasing, so it’s worth it to give it a shot.

          Like

  1. This looks like a great method of organization. Were you always like this. We have been talking about a budged for ages but we never seem to get anything on paper so I think we don’t even know where our money is going. How did you start?

    Liked by 1 person

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