I am starting to carry balances in all my savings funds for the first time in a while, thanks to the money I was able to put aside this month. We are making progress and I am encouraged. Keeping track of everything I am able to save has really motivated me to look for extra ways to save and earn money. You should track the money you save too!
Extra money this month
- Money skimmed from regular budget items $15.70
- Budget items saved for annual bills $473
- Trimmed expenses (i.e. internet/cellphone) $66.42
- Extra hustle money $1,187.00
- Cash back from bank $2.14
- Total saved: $1744.26
Where is the money going?
- Regular checking/annual bills: $697.62
- Emergency Fund: $714.64
- Car Repair/Replace: $75.00
- School: $257.00
- Emergency fund-$1124.41
- School- 0
- Car Repair/Replace: $325
Grand total of savings in 2015: $4,235.20
My husband had another class he could take this summer which is where the school money went this month and why the running total balance is still $0. He was able to find the book he needed on Amazon for $3.75 and the book for his other class for $11.35. I can handle those numbers!
I was able to build our emergency fund back over $1,000 again, after taking the big hit from taxes. I can breath a little bit easier. I have noticed there are far fewer unexpected expenses or mini-emergencies popping up if I have at least $1,000 saved.
Saving $1,000 as a mini-emergency fund should be your first priority to getting your finances straightened out. It is amazing the difference having 1k in the bank does for your mental state!
The next priority for our budget is saving for the fall tuition payment and my emergency savings will have to slow down throughout the summer. I will still put at least all the money I am able to skim off of regular monthly bills into the emergency fund.
(By the way, did you hear the IRS got hacked? Umm, scary... glad I am paying for an id theft protection plan. I can get the family plan for just $12 a month and my company will assign an agent to my case to help with all the hassle of rectifying any breach, should either of our identities get stolen. It is money well spent, but I hope nothing happens.)
There were a couple things I posted on Craigslist, but no takers this month. I have recruited my husband to help sell some items online, which will help me out a lot!
I finally have an interview set up for next week for my part-time job. I have not been interviewed in a long time, probably close to a decade. If I get this job, I would like to work enough hours over the summer to pay for the fall tuition.
My hubby did some minor repairs on my car this month and (dare I say) it looks like my car is in good shape with no further imminent repairs. I have $325 in the car repair fund just sitting there. Whew, that was a long year with a lot of repairs and expense.
It is such a good feeling to have balances grow in all my different accounts and I feel as though we are starting to make good financial traction again.
How was your month? Were you able to reach some financial goals? Join the conversation below!
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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!