I can't believe it's November 1st already. My net worth increased in October, but not by as much as it should have. My net worth is currently at $7,562. That's increase of about $784 over last month. Considering that this was an extra payment month for that's not a very good increase. My 401k took a good sized hit this month. That hurt.
I spent more money than I wanted to in October, but it was mainly due to my certification exam. I registered to take one of the parts, so that cost $190. I also ordered additional study materials for this section. I am hoping to take this part of the exam prior to Christmas, but I have until the end of February is something happens and am not take to take it as planned. Once I schedule a date though, no going back. I am hoping to really increase my studying time starting this weekend.
I was under budget in all categories, so that was great. I hope I can manage that in November as well with Thanksgiving in there. My family is coming to visit me for Thanksgiving, so I increased my food budget for the month to account for this. I have a little bit set aside for shopping that weekend, but not much. I really don't need anything, but I am sure I will find something that I want.
As far as goals go for November, I am hoping to stay under budget in each category as mentioned above. I would also like to limit spending as much as possible to only items I think I really need. I am hoping to make a large extra payment on my car in December. I need to save as much as I can now to make that happen. I also need to study lots in November. This should promote savings.
My mom is coming to town today, so I am meeting her at the mall. I hope to spend no more than $50 this weekend for everything. I have a full tank of gas so that helps! My mom said that she would treat me to lunch out today. We usually split a meal which helps save money. She is looking for some dress pants, so I will be concentrated on helping her find clothes which will limit my looking at things I don't need. I am hoping to finally find a scarf today. It's going to start getting cold again next week.
I will let you know how my spending goes this weekend. Lets hope I keep it under control!
Showing posts with label 401k. Show all posts
Showing posts with label 401k. Show all posts
Saturday, November 1, 2008
Thursday, July 3, 2008
Holiday Weekend
I am so glad that it's a holiday weekend. I am looking forward to having tomorrow off and not having to use a vacation day. I am hoping to have a quiet weekend to get a few things done that I have been putting off for awhile now. This should help me resist the urge to spend any money that I don't need to. I bought groceries today after work so I should be set for the next week. I spent $25 and came home with one bag. That's never a good sign!
With the start of the new month comes my final numbers for the last month. June was not a good month for my net worth. While it did increase, it was a much smaller increase than in the past. This was due to my 401k not doing so hot with the way the market was over the past month. I was able to stay within my budget in each of my categories. I put a little extra into my car payoff fund since I didn't use all of my spending money. I hope that I can continue to control my spending and save! I also hope that my 401k turns around soon.
Looking ahead . . . I should be able to save in July. I don't have anything big planned. My mom is in town for a meeting one weekend, so I will be driving to see her and go out to dinner. I need to save up for August. I am planning to go home to visit my family. I always end up spending more than planned when I go home.
I hope everyone has a good holiday weekend!!
With the start of the new month comes my final numbers for the last month. June was not a good month for my net worth. While it did increase, it was a much smaller increase than in the past. This was due to my 401k not doing so hot with the way the market was over the past month. I was able to stay within my budget in each of my categories. I put a little extra into my car payoff fund since I didn't use all of my spending money. I hope that I can continue to control my spending and save! I also hope that my 401k turns around soon.
Looking ahead . . . I should be able to save in July. I don't have anything big planned. My mom is in town for a meeting one weekend, so I will be driving to see her and go out to dinner. I need to save up for August. I am planning to go home to visit my family. I always end up spending more than planned when I go home.
I hope everyone has a good holiday weekend!!
Saturday, June 7, 2008
My Budget
As promised here is a look at my current budget (which includes my merit increase) and the details behind it.
Category Amount Notes
Rent $1,080.00 **For my area, this is normal since I live alone. I wish it was lower!
Student Loans 90.56
Car Loan 368.50
Extra on Car Pmt 35.00 **I take any extra from other categories to apply here each month.
Insurance 68.12 **Car insurance and renter's insurance
Gas 140.00
Oil Change 8.00
Car Registration 9.19
Gas Bill 17.81 **Budget monthly average instead of actuals by month
Electric Bill 30.00 **Budget monthly average instead of actuals by month
Internet 45.95
Cable 40.00
Food 120.00 **This includes groceries and eating out
Monthly Spending 77.00
Apt/PHP Items 15.50 **Items needed for personal hygiene and my apartment
Doc Appts 10.00
Medications 7.00
Haircut 9.00
Clothes 25.00
Golf 10.00
Gifts 25.00
Savings for Taxes 8.33
Savings 400.00
Total 2571.84
All of the items highlighted in blue are those which do not occur monthly. They may be once per quarter or annually. I budget for them each month though. This makes me feel better so that I don't have to all of the sudden find money for one of them at the end of the year. I buy gifts throughout the year, but I budget $25.00 each month so that I don't have to come up with extra money around Christmas time to buy gifts for my family.
My monthly spending category is for going out with friends, renting movies, and anything else that I would want to do during the month.
My food budget may seem rather low to some people, but it works for me. I do not buy any premade items, so all of my meals require cooking. I try to cook on Sunday, so that I have leftovers for the rest of the week. I also do my grocery shopping on Sunday once I look through the ads and make my list based on those ads.
The savings category is used for a number of things. I divide it out each month based on where I need/want it to go the most at that time. Some of the categories which it ends up in are my emergency fund, travel fund, car repair/emergency, extra towards my car loan, new technology fund, moving fund, etc. This works best for me because then I can evaluate each month where I might need the money most since of these funds are ones which I may not need to add too unless I take money out or they are not used that often.
I know that this budget may seem rather long and odd to some, but it works for me. I think that's the most important part. I have been budgeting like this for a number of years now. I try to avoid surprises, so it works for me to budget for the annual items all year long. I have thought about combining some of the smaller items (like car registration, savings for taxes, and gifts) into my larger savings amount, but so far I have not done that.
I am saving for retirement through my 401k. Between what I am contributing and the company match, I have a total of 14% of my salary going towards retirement each year. I would like to start an IRA in the near future, but I have other things that I am concentrating on right now.
I am not putting an extra towards my student loans until my car is paid off. The interest rate on my student loans is less than what I am making on my savings each month, so I am not too worried about those right now.
I would love to hear your thoughts on my budget!!
Category Amount Notes
Rent $1,080.00 **For my area, this is normal since I live alone. I wish it was lower!
Student Loans 90.56
Car Loan 368.50
Extra on Car Pmt 35.00 **I take any extra from other categories to apply here each month.
Insurance 68.12 **Car insurance and renter's insurance
Gas 140.00
Oil Change 8.00
Car Registration 9.19
Gas Bill 17.81 **Budget monthly average instead of actuals by month
Electric Bill 30.00 **Budget monthly average instead of actuals by month
Internet 45.95
Cable 40.00
Food 120.00 **This includes groceries and eating out
Monthly Spending 77.00
Apt/PHP Items 15.50 **Items needed for personal hygiene and my apartment
Doc Appts 10.00
Medications 7.00
Haircut 9.00
Clothes 25.00
Golf 10.00
Gifts 25.00
Savings for Taxes 8.33
Savings 400.00
Total 2571.84
All of the items highlighted in blue are those which do not occur monthly. They may be once per quarter or annually. I budget for them each month though. This makes me feel better so that I don't have to all of the sudden find money for one of them at the end of the year. I buy gifts throughout the year, but I budget $25.00 each month so that I don't have to come up with extra money around Christmas time to buy gifts for my family.
My monthly spending category is for going out with friends, renting movies, and anything else that I would want to do during the month.
My food budget may seem rather low to some people, but it works for me. I do not buy any premade items, so all of my meals require cooking. I try to cook on Sunday, so that I have leftovers for the rest of the week. I also do my grocery shopping on Sunday once I look through the ads and make my list based on those ads.
The savings category is used for a number of things. I divide it out each month based on where I need/want it to go the most at that time. Some of the categories which it ends up in are my emergency fund, travel fund, car repair/emergency, extra towards my car loan, new technology fund, moving fund, etc. This works best for me because then I can evaluate each month where I might need the money most since of these funds are ones which I may not need to add too unless I take money out or they are not used that often.
I know that this budget may seem rather long and odd to some, but it works for me. I think that's the most important part. I have been budgeting like this for a number of years now. I try to avoid surprises, so it works for me to budget for the annual items all year long. I have thought about combining some of the smaller items (like car registration, savings for taxes, and gifts) into my larger savings amount, but so far I have not done that.
I am saving for retirement through my 401k. Between what I am contributing and the company match, I have a total of 14% of my salary going towards retirement each year. I would like to start an IRA in the near future, but I have other things that I am concentrating on right now.
I am not putting an extra towards my student loans until my car is paid off. The interest rate on my student loans is less than what I am making on my savings each month, so I am not too worried about those right now.
I would love to hear your thoughts on my budget!!
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