Envelope spending totals.
Happy February 1. Now with January in the books, I thought I should do a recap of our envelope spending. As I mentioned in another post, we currently have six categories. So, how did we do? Here is the breakdown.
- Grocery: Budget $400. Spent $357.40, and have $40 to carry over.
- Gas: Budget $200. Spent $126.31 (Hubs filled the tank and doesn’t appreciate even numbers the way I do!) $73 left to carry over.
- Miscellaneous: Budget $100. Spent $12.82. $87 to carry over.
- Pet: Budget $75. Spent $44.27. $30 to carry over.
- Clothing: Budget $50. Zero spent. $50 to carry over.
- Hubs: Budget $500. He received $500, and I don’t track what he does/doesn’t spend. He is trying to spend less as whatever he saves can go towards his future dock and fishing boat.
The difference in what is left to carry over is the change not spent. We are saving that in a separate account with the intention to use it for our future trip to Tennessee. Hubs is also contributing to this fund, so it is a joint effort. This trip won’t happen until we complete baby step two.
I had hoped to spend less in the grocery envelope, but at least we stayed within our budget. I did purchase a few items on sale that will be used over the next few months. Ultimately this does save on future spending.
In other budget news, Hubs is relatively sure that he will be receiving a boot allowance from his company which will save on the clothing budget. August will mark his second anniversary with his company, and this benefit is something that is supposedly given every two years. If memory serves me correctly, the first time he received $150, and we ended up paying $30 something out of pocket. For the time being, I won’t make any adjustment to the clothing budget but may do so at a later time.
How did you do for January? Were you able to stay within budget? Budgeting is challenging, but it sure can make a difference in what is and what isn’t spent!
Nice job coming in under budget! We went a little over in groceries, but we came under in gasoline and personal spending, so all together we had a little left over.:-)
Leftover money is always good!
way to go on coming in under budget. I can’t ever seem to do that with much success.
OneFamily recently posted…January numbers
Without using cash and writing down every dime spent, I know I wouldn’t have been near as successful. Even if you don’t want to go the cash route, there is just something about putting it down in writing that makes such a difference. I avoided a run through a drive-thru simply because I didn’t want to account for it! You really see where your money goes by doing this.
Well done! We had a pretty spendy January, mostly because of pet expenses… But that’s what the carry-over money from other months is for!
I’m so impressed that you were able to stay under budget in every category!
JEna recently posted…January 2018 Bullet Journal Set-up
Thank you! Pets can be expensive and this is why we are doing the same with our pet category. I’m hoping it will offset future vet bills. Hope your fur babies are doing well.
Being that January was my set up month in the new place, I really did not have much of a budget. And I knew this going into January. So February will be the true test of my budget.
Rhitter recently posted…On My First Budget Meeting
Understandably! I’m eager to hear how February goes for you. In addition to using envelopes, I’d suggest keeping a running tab of what you spend. It may sound silly, but writing what I spend down (even with the money in the envelope) has really curtailed some unnecessary spending for me.
Great idea. The envelopes that come with FPU have a ledger on them, so I will be definitely utilizing that.
Rhitter recently posted…On My First Budget Meeting
I think it makes pulling out the cash a little harder!
Great job! I still need to finish the official calculation of our January expenses, but it looks like we were under budget. Woohoo!
The 76K Project recently posted…New Job, New Income, New Benefits
Good for you! I’m eager to hear how you did!
Great job staying under budget!!
Thank you!
I so remember Hub’s having to have new work boots. They were scary expensive, like $400.00 for cork boots.
Wow. And I thought the Red Wings that Hubs buys were expensive!
you did AMAZING!!! I am impressed that their was money left in every single category (that you had control over, lol)!!!