Sunday, 2 March 2014

February Budget Overview

            Happy March everyone! Too bad here in Saskatchewan it’s -40C, so much for spring, eh? Today’s post is going to be a complete overview of our February budget. This was the first month were we really were meticulous about tracking where our money was going and hubby made it all into a neat pie graph.

(She's real pretty isn't she?)

Debt Repayment: (43%)

We worked our butts off this month and were able to put nearly $3000 towards our debt. Hubby got his raise that was due back in October so one of his pay cheques was a lot more then usual. My goal is to definitely keep this number up above $2000 in the coming months.

Savings: (9%)

$400 went to our Emergency Fund and yesterday we hit our first goal of having $5000! This number will also be a bit higher next month as we have an appointment to discuss RRSP with our financial advisor. This is the first time investing so we are both really excited and nervous to loose our investing virginity! Lol Wish us luck!

Food: (8%)

A bit higher then usual as we went to the city to stock up on a few things that are more difficult to get in our small town – and my husband did a few shops on his own this month so that kind of messed up my usually extremely planned out shopping trips. He’s getting much better though about purchasing things that are on sale! One thing at a time I suppose.

Shopping: (10%)

Again this number was a lot higher then usually due too the city trip. My goal is to have it under $200.00 next month.

Personal: (3%)

$100 of this was birthday gifts for a few friends of ours; the other $80 was for things like Netflix’s, two eBooks I purchased, a prescription and hubby purchased a video game expansion. There isn’t too much to do in a small town so this number is always pretty low.

Home: (12%)

Mortgage payment, insurance, and all that really fun stuff! It’ll be a bit more next month as we have a plan to paint our main floor bathroom, but those are all the home improvements we have planned next month, as it’s just too cold to do anything else!

Utilities: (6%)

Boooooring. This number might be a tiny bit higher next month, as I believe our water bill (which comes every 3 months) will be due.

Transportation: (9%)

$360 of this number went to car payments; the rest was fuel and insurance.

To sum up February, I think we did pretty well. Our biggest accomplishment was paying off all our credit cards and still being able to put $2000 on the LOC. That was a really exciting day for us, lol. There is definitely room for improvement and our trip to the city kind of threw us off bit, but that’s why I’m tracking this: to see where we can improve and were we are doing really well. :) I really love being able to see where our money is going. It makes me excited to see with Debt Repayment being such a large percentage what we will be able to accomplish once that debt it gone! Hopefully those days aren’t too far away…