Analyzing My February Budget

We are a third of the way through February so I thought I would analyze my budget and just check to make sure I am on the right track. This is my first month following a budget, a hardcore budget. So far it really hasn’t been as hard as I thought it would be. I have made a major effort to avoid spending extra money. I think I created a monster though! My husband is completely on board which is exciting for sure, but my camera took a crap on me and I told him about it and he says… “a replacements not in the budget!” I’m thinking that a replacement camera isn’t considered an emergency… so looks like I wont be replacing it any time soon.

As I looked over the budget everything is on track. We did have a little hiccup though… we are over budget on our back patio cover… like $300!! I was so upset when I realized it. I see the light at the end of this debt tunnel so this set back was upsetting. Lesson learned, ALWAYS over budget by 15% on a project. Maybe other people don’t have to do this but we are always over budget I should have known better. So basically I had to re allocate some funds. I was going to make a big payment on my student loan but now I can’t. Life goes on!

At the beginning of the month I decided to go fast food free all month-long… well… we had a few rainy days and the kids were going a bit crazy so I had to get them out of the house. We couldn’t go to the park so we settled on McDonalds, they have a fun pay area. I thought I’d feel guilty breaking my rule but a moms gotta do what a moms gotta do! I spent $7 and the kids had a blast for over an hour. Then we went to the mall and they played in the kiddie play area. It was a fun and cheap outing! I’m going to continue to avoid fast food and make sure I plan my trips to town so that they avoid lunch and dinner times. I will keep you posted on how I do the rest of the month!

Update on my February financial goals…

  • DO NOT TOUCH EMERGENCY FUND- Still in there!
  • Pay off Kohls card- $200 owed
  • Put $333 towards Lowes Balance
  • File Taxes- DONE
  • Switch my Life Insurance policy… Saves $12 monthly for the same coverage… zanderins.com- DONE
  • Add $200 more to my Vegas Vacation Fund! (This trip was planned before we started the Baby Step program)
  • If our tax refund hits in the month of February distribute to our debt snowball- should have it 2/11
  • New Goal- Create a will… DONE

I have to say creating a will was so easy. I went to a California state website and they had free forms you could fill out. Then you just have two people sign it as witnesses. To think I was going to pay a website to do that for me! A little research goes a long ways.

❤ Sarah

Advertisements

2 thoughts on “Analyzing My February Budget

  1. Congratulations on taking a big step! It’s an interesting journey to financial freedom for sure! I’m struggling with our budget this month, but going down to 1 income unexpectedly has been a pain in the hiney. Regardless of the struggle, this month is better than last month, so it has to get better!

    Thank you for stopping by. We “debt free weirdos” need a support group for sure!

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