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Because I really want to pay off my mortgage by the end of this year, I have been buckling down on my budget. Each month, I am trying to keep my spending under $1,995. Since I started this budget in January, I have yet to actually do this, and March has been a similar story unfortunately.
In the month of March, I actually spent $2,660…which means that I overspent by $665, but I have my reasons. For the most part, all of my expenses were in check, but I did buy that Malibu car (that I flipped for a profit), whose taxes and other repairs cost me about $420. Another $135 of this overspend was due to my tax returns. I had my accountant do them for me this year to make sure that I was claiming everything correctly. And, the other $110 was on clothes shopping (believe it or not). As the weather was heating up, I realized that I only had one pair of shorts and a limited assortment of golf shirts (that I also wear to work). So, I paid a visit to my friend TJ Maxx and bought quite an assortment of clothing for a very reasonable price.
All in all, I am actually quite satisfied with March (after all, it did allow me to pay an extra $10,000 on my mortgage). So what is the outlook for my April expenses? I am actually feeling pretty good about this month as well. I don’t foresee any large expenses coming up and on top of that, my utility bills should be lower as the temperature warms up.
Weekly Round-Up
It has been a little while since I gave a shout out to all those other skilled personal finance bloggers out there, and they have been putting out some great stuff! Check it out:
How to Win At Everything Online – by Yakezie
How to Recover From a Financial Mistake – by Prairie Eco Thrifter
10 Lunch Menu Items That Cost Less Than $5 – by One Cent at a Time
Travel Hacking on a Budget – by Narrow Bridge Finance
Working Out on a Budget – by See Debt Run
Do You Have a Rainy Day Cash Fund? – by Beating Broke
Build a House for Under $10,000? Oh Yes You Can! – by Little House in the Valley
Margin Net Worth Update – by Project Ikonz
Pain and Suffering Is No Excuse to Quit Moving Forward – by Luke1428
Are You a High Talent, Low Maintenance Employee? by Save on Almost Everything
AUTHOR Derek
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.
My name is Derek and I am a no-debt kind of guy! Stick around and you’ll learn how to pay off your debt, buy houses for cash, and load up your retirement!
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12 Comments
Thanks for the mention.
I am really impressed with your food and dining budget. How are you able to keep it so low?
I am pretty simple Mike. I head to Aldi once a week and buy pretty much the same items: Wheat thins, cereal, granola bars, eggs, milk, granola, yogurt, clementines, bananas, bread, english muffins, lunch meat, cheese, and fresh chicken. This costs me about $40, which is super cheap (thank you Aldi), so it allows me to go out to eat once in a while as well. With this practice, it is pretty easy to keep my food bill below $200/month.
Appreciate the mention Derek! I’m also envious of the grocery budget. You are spending as much in a month as I do in a week. Of course, I am shopping for six. 🙂
If you have an Aldi in your area, I’d have to suggest that like Derek has in the past. My wife does the shopping, but $350 every 2 weeks for a family of 6 is how she manages to keep it under control. Not to mention, that includes using some of that money sometimes to go out to the movies, etc. So it’s really a little more than just groceries.
When my friend was in college, he lived off $15 a week! However, his diet was mostly turkey hot dogs and bread. 😉
Well, true. I am shopping for one, so it’s a bit different. 🙂 I’m sure you’re expenses are quite reasonable given the number of people in your family.
I really like the way you’ve displayed your budget! I am also envious of that food budget. Under $200 is amazing. I’ve struggled to reach $250!
Haha. I had no idea that my food expenses were so much lower than everyone else! I really don’t do anything special. I just shop at Aldi and get the basics. One of these days I’ll write a post about my typical food purchases each month.
Yes, I’m envious of the groceries budget – but does it include toilet paper, paper towels etc.? Mine is $679 for 3 people = $226 each and I always think it’s too high. I use MINT too! Our gas was also $180!
It actually does include all toiletries. 🙂 Yes, your grocery bill does seem a bit too high, but your gas expense is quite good! Nice job!
Thanks for sharing the love Derek!! Glad you’re enjoying my blog.
Sure Mr Ikonz! I’m glad you’re enjoying my blog too!