May 29, 2008

May Budget Recap

Hey everybody! It's budget review time, get excited! This is how my budget broke down this month... This was the first time I had a real budget, taking every penny into account. I had some slip-ups, but overall I think it went alright.

Income: $1,300 expected/$1,413 actual

Loan Payment
$155/$160 -- I threw in a little extra this month.
Car Repair $500/$160 -- Way under!!
Dentist $200/$147
Gas $100/$200 -- Yes, I’m aware this is completely ridiculous. I took way too many trips this month, which doesn't make a good pair with rising gas prices. I’m going to try and cut back next month.
Cell Phone $25/$25

Fun Money $120/$135 -- I know this is an excuse, but a friend invited me to dinner last night and I couldn’t say no! I only ordered an appetizer and water to save money, though.
Netflix $15/$15
Misc. $50/$73 -- I bought: hair dye, some vitamins, face wash, a face mask, envelopes to sell books on, a car air freshener, and a dvd that was on sale. Aka, too much stuff.

I also had a few unexpected expenses this month:
Bellydancing Recital $15 -- I wasn't aware that I needed to pay this fee to participate in the recital!
2 5K Race Sponsorships $30 -- It's hard to say no to people hitting me up for money...
Haircut $17

$135/$436 -- Yay! This one is really exciting- I split it between both my emergency and car repair funds so that they are now both even at $1,125.

In case you are wondering, I don't have to pay rent or any utilities because I live at home. My parents never asked me to pay for rent or food or anything like that, probably because I'm only home for a short while until I go back to school. Also, I don't have any dental insurance, which is why I had to pay for the cleaning. I had it for awhile, but it was very expensive and it is cheaper for me just to pay for the 2 yearly appointments. And I didn't include my stimulus check in the income because I am using it for a trip to Florida in a few weeks (very irresponsible...).


SavingDiva said...

Very jealous you don't have to pay rent :)

Dolly Iris said...

Me too! ^^

You did great with your savings this month!

The Executioner said...

I'll echo savingdiva's comment. Rent/mortgage has always been the top expense in my monthly budget. I never lived at home after leaving for college, but I always wondered whether my friends who did live at home were taking advantage of the situation and saving as much as possible. I realize you're going to grad school in the fall, and expenses will likely rise at that point, but the next few months present you with a huge opportunity to save some extra cash and/or pay down your debt.

That said, nice work adding to your savings this month. I wish I had the wisdom to write down my financial goals when I was 23. I did OK, but I could have saved so much more with a little more focus. Good luck staying on track!

Canadian Saver said...

My living arrangements are such that I don't have to pay rent either... it's helped me get so much further ahead financially because of it!! We are lucky but we still sacrifice privacy (I live with my sister).

You did great this month!!