February 2017 Budget Review
I am happy to report that we were a little smarter this month! There are, as always, still improvements to be made. So here we go with the February 2017 Budget Review.
What Went Wrong + Analysis
- We went “home” to see our extended family twice this month. Two 2-hour road-trips are expensive!
- Also, we not only pay for gas to get there and back, but we always end up dining out or getting drinks with friends when we are visiting. BUST!
- I 100% forgot to budget funds to get my hair done. I had a standing appointment that should have been budgeted for but wasn’t. BUST!
- We took our dog to the vet and that was unexpected (he’s okay, though). BUST!
- We ended up transferring from savings to cover some stuff. BIG BUST!
What Went Right
- I made a draft of everything for our tax return!
- I FINALLY paid off and promptly cancelled Paypal Credit. That darn thing has been luring me towards things I cannot afford for TOO LONG!
- Despite going over on our entertainment budget, we came in under for our grocery budget. 🙂 WIN!
- We had some unexpected extra monies and used that to pay down Paypal Credit and the last bit of an old credit card.
- Took my own advice and opted-out of overdraft protection.
- Opened a 0% intro balance transfer card for our last credit card balance ($4750).
- We are on track to pay off said balance in 16 months (before the 18 month intro offer expires)!
- We set up an external savings account. Out of sight, out of mind – no transferring when tempted to by something not supported by the budget…or by a low-balance checking account!
- I read “I Will Teach You to be Rich” by Ramit Sethi and it freaking blew. my. mind. Excellent, practical finance book. Review coming soon!
How We Can Improve
- I will be opening an “oops” fund that could cover unexpected expenses without draining our savings.
- Set up automatic payments and savings transfers so it is easier to stick to our goals!
- Continue to be disciplined with spending. We did really great this month not buying frivolous or spontaneous crap!