Monday, January 26, 2015

January's Budget


It might seem a little premature to close off my budget for January today but everything is pretty much done and paid for the week and the month. Let's just say I'm "tentatively" ending January!  And I'm happy to report (touch wood) that my new "Pension Budget" was a success.  Thanks to a few factors:

  • low price of gas right now - I set a budget of $180 for the month for gas and had $88 left after filling up today!!
  • creative meals and careful grocery shopping - buying only what I need for the week means lower costs and less waste. Out of a budget of $280 I had $17 left and my fridge is PACKED!!
  • having a set amount for misc spending really works for me. Not that I was deprived at all but I'm selective about what I spend my money on and sometimes I have to say NO - some of the money spent is for February's fun - a Bryan Adam's concert on Feb. 24th so I'm ahead of the game a little bit. I had over a $100 left in my misc budget so sent some of that to savings along with the surplus in the food and gas budgets making total saved for this month - $608.00!! (Remember I had extra $$ this month due to not having to pay property taxes and getting a break on insurance. I won't be able to save that much every month! Darn it!) 

I want to buy new living room furniture but think I'll put that off til the kittens are older. My next major expenditure will hopefully be a trailer in the spring. And I will be taking a trip east to PEI - I hope the gas prices stay low for awhile! I ordered a guide book for a couple of hikes in England and am wavering back and forth whether to go this year or wait til 2016. I was kinda hoping to walk the Camino in 2016 when I turn 60 but not sure if I'm ready for that yet. I'm having a tough time making decisions. It's a question of having my cake and eating it too! I like having my savings AND I like spending it too! 

Sigh...

11 comments:

  1. livingrichonthecheapJanuary 26, 2015 at 4:49 PM

    Just an idea but because money in the bank = freedom, why not siphon a tiny beat each month to spend on travel. No need for a separate bank account, just record how much is in your savings account and separate an amount for travel on paper only. That way, you will be encouraged to save even more as you have both travel and the long-term gratification of savings. Well done on your month!

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  2. How much approximately does a hiking trip to England cost? Before you went on the first one what kind of training did you do in order to insure that you could walk those distances?

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  3. Well done on the budget this month!! :) I wish food costs were as low as gas costs! lol! Then we could REALLY save! :P

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  4. Good for you!!!! My gas bill went down significantly this past month that I'm trying to get as much debt reduction done as possible before it jumps up again!
    I was able to put $1000 toward it in January so far!

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  5. Laura / No More SpendingJanuary 28, 2015 at 3:42 AM

    WooHoo I'm glad your new budget worked Jane!

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  6. Me too Laura!! Things are much tighter now that I'm on a penison!

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  7. Wow, that's a lot of savings in gas!!

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  8. I'm going to answer that question today!

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  9. I don't find food costs too bad but then I don't have to feed a family of six! I cook a chicken and it lasts 3 or 4 days!

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  10. I have a habit of looking at the total amount in my savings instead of allotting so much for each category. I do have long term and short term savings but no matter where I take the money from it lowers the overall total.

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  11. I'd like to walk the Camino as well ...

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