Friday, July 8, 2016

My Half Year Budget Update and Decisions for July's Budget

I way over spent for June because of sales and other deals as well as stocking up for vacation and the summer months.  I really don't feel like I have a lot of extra food around the house with all that spending except we did get a ton of toilet paper and soda which should last us a good long while.  I wasn't sure how that was going to affect the spending this month.  If I went with the obvious choice of taking the overspending directly out of the July budget, then I would only have $42.41 left to spend for the whole month of July.  If I split the overage between July and August then I have a more reasonable $101.20 to spend each month.

I decided to go back and see how my year to date numbers looks against the budget of $160 per month for all household goods which works out great because we are halfway through the year so I should be around $960 total spent.

Actual Year to Date Spending

January     $155.93
February  $101.57
March    $154.63
April      $139.69
May     $89.17
June       $277.59

Total OOP       $918.58

The total number for the first 6 months of the year is under the 6 month budget because of my savings other months.  After subtracting the difference, it is very creepy but I am under $41.42 of the 6 month budget.  These numbers are trying to tell me something!!  Maybe I should play the lottery.

After a lot of thinking, I still don't know what to do! But when I started this strict budgeting process, I promised myself that I wouldn't beat myself up or take out a bad month on the next.  That was the main reason that I went with a monthly budget instead of a weekly budget because I am horrible at weekly spending.  After realizing that year to date I am doing okay.  I am going to not limit this months budget but I will probably still end up low because my heart and my brain are at war over this spending because of the fact that the majority of the items were luxury splurge items that we could have done without like ice cream and soda but I guess you have to splurge every once in awhile!!

What do you think of my calculations and decisions?? 


  1. I think that:
    1) You are right that you shouldn't stress over "one bad month"
    2) since you're still under budget for the year, you're on track!
    3) You've never explained why your budget is so low so I don't know if it's because you just don't have the money. If so, then I would understand the stress more, but if you can pay all your bills and keeping it as low is just a game that you're playing with yourself (as I do), then stop stressing :)
    4) You're doing such a great job!

    1. Thanks for the support!! You know the budget is low because we can do it and with a little work, it isn't too hard to maintain normally. I started and cut back and I have been able to maintain this budget through the last 4-5 years but I see it growing when my little guy gets bigger. We don't really have a handle on the budget right now because of the new house and new mortgage (double our old one) since we were so used to the old bills so I guess I am more sensitive now because whatever is left at the end of the month is for my son's college fund and our retirement. Without me working it was tight but now I am picking up the part time job next year so working will probably help!! Of course it is a double edge sword because it is hard to get all the frugal things done when working so much :) Last year was crazy so hoping this year will help find the new normal.

  2. You've done great! Many families spend $900 a month, nowhere nearly as good as your $900 for 6 months

    1. Very true!! I have a high standard and a low budget but I have done okay with the year so far. My yearly budget is what some people spend in a month :) It is very hard for me to pay attention to the people in line at the grocery store that spend $300 and barely leave with a few bags because I want to hand them coupons...and have been known to!! LOL!!

  3. I think, if you still came under budget for the first 6 months, then, it is good. If you budget $160 per month and you actually spend under that in a given month, what do you do with that amount that is leftover? Do you carry it forward to the next month? That's what I do - if I budget $75 per month for groceries (food only; not other household items) and spend only $65, I carry the balance $10 into the next month, and I'll have $85 to spend that next month.

    1. Funny thing is part of the decision that I made was that each month stood on its own so if we were under budget for one month or over budget, it was in the past and the new month starts at zero. I don't carry over the money to the next month but I am normally not this far over budget so I did sort of freak that we might have gone crazy. I guess it works out great that the months are still working out to good against the budget so overall, I might have carried it forward but only accidently :) My yearly totals have been $1577.74 in 2013, $1128.67 in 2014, $1536.63 so my monthly average is around $130. I can't beat myself up too much if this year actually ends up where I am near my budget instead of so far under it!!


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