March was not a great month for savings; definitely disappointing after February. I had to take care of some car repairs, new tires for my husband's car, and put a large chunk of money towards taxes (ah, the joys of being self-employed).
Extra money this month
- Craigslist sales $10
- Money skimmed from regular budget items $3
- Budget items saved for annual bills $20
- Trimmed expenses (i.e. internet/cellphone) $0- We had to pay a higher bill this month to account for the pro-rated transition period.
- Total saved: $33
Where is the money going?
- Regular checking
- Emergency fund-$500
- School- $320
- Car replacement- This fund went back down to zero due to needing the money for the car repairs.
Grand total of savings in 2015: $731.26
A couple things to save money
I did condense my cell phone bills (work and personal) which will save a lot of money over the upcoming months. Unfortunately, I will not start to see any savings until April's bill shows up in May.
Also, as Jeremy was taking care of some issues which came up in switching internet providers, he was told if we bundled our internet and cell phone bills together we would be able to save $5/month. Why, yes please! Now he just needs to make another phone call to combine the two bills.
Can you get a discount by combining your cell phone and your internet bill by paying them together? It is worth checking into to see if it is possible. $5 x 12=$60 is not a lot per year, but why pay it if you do not have to?
I am not planning to decrease the overall total of my budget due to the trimmed expenses, but I will make a point to transfer the extra money into savings. I follow a zero-based budget, assigning every dollar a name before the month begins, so if the extra amount does not have a name, it will get assigned to another purpose.
One semester down!
With the money in the school savings, I will have enough to pay for Jeremy's summer class at the community college. Just in time too, since the tuition is due in late April. One semester down! Two more semesters to save for during the rest of the year.
On a side note, even though my husband is technically at the university, he checks every semester to see if there are any classes available at the community college. He has been able to take quite a few upper level classes at the college instead of at ASU, which saves us a lot of money in tuition and book fees.
If you are at a university taking classes, you may want to check to see if a community college offers any of the lower and upper level classes you need. The possible classes available at the college changes each semester and are just as good as what you would take from the university.
Taking my own advice
While it has been helpful to find ways to trim costs on my budget and incorporating the extra money into savings, I need to look at the list I wrote about ways to give yourself a raise and put a couple of the suggestions into practice.
My default way to give myself a raise is picking up more free-lance jobs in the evenings and on Saturdays, which I have started doing again. While working so many hours is not always fun, it is a very effective way to bring in more income. It helps to remember why I am working so hard.
I need to devote some time to continue cleaning out my apartment and selling unwanted items on Craigslist or other sites. Another option readily available is to spend some more time and purpose to set up income streams from my blog.
How did you save money this month?
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Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!