February Budget Wrap Up

So, it is here…the first budget wrap up that is semi professional and ready to go!

So how did we do? Well, as far as frugal February went, not to hot. But we stayed within budget for the most part. We went over our grocery budget by around $20 bucks total. I pulled/borrowed from our fuel category. I am okay with it. I mean, that isn’t the ideal situation but we knew we had plenty left over towards the end of the month. Anyways, we are hoping to be more on track this month! I have the grocery list in hand right now, and we will get that done today after teaching!

The only thing off in our budget is the electric bill. It is $36 and some change. I haven’t written the check for it yet, and I’m at school right now so I just rounded up to $37 those few pennies will be moved into our April budget!

So here are the expenses:

February 2015 Budget Wrap Up

Rent, phone, BirchBox and laundry are set amounts each month that don’t change, so they are always balanced at zero.

Fuel we had $76.47 leftover for this month, that extra was moved to help finish up the budget for March.

Again, we came over on groceries, here it is only marked as 2 dollars and change over, I pulled directly from fuel for the rest. Not the best way to do it, but it is the easiest. Again, overall we are on budget for the month so I’m A-okay with it.

Medical is one of our sinking funds. We put 10 bucks into that a month, this month Mr. Wanderlust got sick and we had to use the $20 we had saved to cover his co-pay at the university clinic.

We budgeted $80 for going out this month for Valentines day and used it all up at a really good Italian restaurant. It is a bit expensive, we both had seafood based dishes and dessert. But still, $40 bucks a person (the $80 included out tip) is a bit much, but also why it was a treat.

We track our personal spending, but not like we do our regular budget. I forgot I had a reoccurring subscription so my spending was inadvertently a lot higher than I normally do in a month. We only have these accounts on budget so we can quickly check with our cell phones through the app.

Down into Final Semester Stuff. I paid my dues for my fraternity this month. We also signed up to take our last license test to qualify for our licenses in May. Woot! I guess…if you like taking three hour tests.

And our debts. We made our first debt payment. It is a piddly amount, but $55 we can swing right now. It is $15 bucks above the minimum payment…well really $11 and change because that $55 includes the service charge as well.

So that is it. We came out with a little extra to help out with Marches budget (which you will get to see on Wednesday!).

I’m overall pretty happy with how we did. Things could be better, but that is really just us needing to build up our sinking funds a little better. I mean, I could have pulled Mr. Wanderlusts medication from the Oh Crap fund, but it didn’t feel appropriate. We had wiggle room to work with.

It says we are negative on income for the month, which is true. But we are living off of a buffer from the month before. We are able to get by via what we make, and a little of the loan money we got back from the start of the school year as well as wedding money. We are using it all to make our budget work. We socked all the extra into savings for a newer car.

So how did we do in savings! This is where I am happy with us!

Savings Feb 2015

So we were able to put $185 dollars away towards our car replacement fund. That is 20% of our take home pay for this month. We broke the $5k threshold which means we are getting closer to being able to afford a pretty nice car! We are wanting to pay cash for the car. We won’t qualify for a loan and nor do we want more debt.

The rest of these categories are the same each month and are just building upon each other for the day when they are needed.

So yeah, there is our month! I think we did some awesome work!

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4 thoughts on “February Budget Wrap Up

    • It took me snooping at, probably, 10 other peoples budgets to get it this detailed. And it isn’t even as detailed as many people put theirs. I put household cleaning stuff into groceries. I like my categories vague but just specific enough! The thing that seems to hurt peoples budgets the most, when they start out are those once or twice a year expenses (like tag/titles, insurance stuff, etc). That is what always through us off. It took me all of January and then maybe two months before that to get this going well.

      This is also our first time genuinely sticking to a budget! We are very proud of ourselves. We are currently saving for a new car so that is a huge motivation as well. We don’t want another loan!

      Liked by 1 person

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