I was feeling pretty good about the May budget until my site was penalized by “you know who”. My site income has definitely gone down, but there isn’t much I can do about that in the short term. So, I have simply watched my spending and tried to keep all of my costs low for the month of May. So let’s check out how well I did!
May Budget Results
Because I was able to reduce my phone bill and my car insurance, my goal is now to keep my monthly spending below $1,649 instead of the previous $1,950. Of course, this is going to be quite difficult, but I think I managed pretty well this month.
- Even after topping off the gas tank yesterday (in preparation for my no gas fill-ups in June challenge) I still only spent $157 in May. Not too shabby! Plus, I didn’t have to make one repair to it all month either. I am really starting to get attached to this gas sipping 2001 Honda Civic. 🙂
- I can’t believe it! I was able to keep my utilities lower than $160 this month. Thank you warmer weather. Hopefully it doesn’t get too hot in the future so I can keep my A/C off and come in under budget a few more times.
- Entertainment was extremely high because I decided to gift myself with a new bicycle for hitting my mortgage goal in April. By the way, the bike is amazing and I plan to ride it a ton this summer!
- I did have a few extra expenses that crept up (or that I forgot about). I needed an eye appointment – that was $40. I also decided to renew my gym membership so I can keep swimming in the pool instead of in the 45 degree waters of Lake Michigan. My home insurance was also due this month, so that is now taken care of for the year.
Unfortunately, I do not expect June to be a very good month. I expect to get my property tax bill and I have to pay in some taxes for the earnings from my website. As you may have guessed, these will be no small figures.
I will be watching my pennies very carefully in the month of June, and will hopefully be able to keep my gas purchases to a minimum (if not none), keep my grocery bill low, and keep those utilities under $160. June is going to be rough, but I am looking forward to see what I can do with it.
As usual, I have read many other articles this past week and have collected a few of my favorites. Happy reading!
Why It’s So Hard to Get a Mortgage According to a Loan Officer – by Financial Samurai
Health and Fitness in your 30s – by Reach Financial Independence
8 Low Cost Business Ideas You Should Consider – by One Cent at a Time
How My Family of 5 Keeps Its Grocery Bill Under $500 per Month – by Narrow Bridge Finance
Keys to Retiring Early – by Retire by 40
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.