UPDATE: Hey there! You can see the update to this post by clicking here.
If you’ve read my other posts, you’ll know that we went down to only one income at the end of 2015. In the nine months since then, we’ve narrowed down how much we spend and where.
This is what our budget looks like for each month:
So now that you know what I’m working with, let’s talk about it.
What I like:
- Everything gets paid. That is number one priority, after all. At the end of the day we’re not going hungry, or even uncomfortable really.
What I want to change:
- SAVINGS. Our current savings plan is awful. Before we bought our house, we had a really nice cushion of savings. All that went to moving us in and the unexpected costs we’ve had with this house sense then. (Looking at you, air conditioner!) So right now we’re in the process of rebuilding that safety net and it’s not as easy as it was the first time. And since we don’t have a short term savings built up, that $214 we have “leftover” each month goes to unexpected/irregular costs like medical bills and being charged for a service call that was the installation tech’s fault. Still not over that one, sorry.
- Those credit card payments. Forking over almost $200 a month in credit cards bill is no bueno. But, we do pay above the minimum payment on all of our cards each month so we can hopefully get them paid down faster. Our goal is not to get rid of them, just to keep our balance low and possibly paid off each month. Don’t tell Dave Ramsey, but I LIKE our credit cards. They have decent interest rates and great cash back incentives so I would love to use them more once we get below the 30% usage mark on each.
- Our grocery bill. That $400 a month includes everything from food to toiletries to cleaning supplies to pet essentials, so it’s not a bad amount to pay, but I know I could get it lower. We just started shopping at Aldi a few weeks ago and that has saves us on average about $50 each shopping trip. Aldi doesn’t sell everything though, so we still have to go elsewhere to finish the shopping list, and I really want to work on getting that second trip as cheap as possible.
Goals for the next three months:
- Get our grocery bill under $300 a month
- Bump up our savings to $20 a month
- Lower our utility bill
Want to know how we did? Check out my update on our goals here.
Need to know how to manage your bills and make sure everything is paid on time? Check out this post for Google’s best kept secret!