Budget

It’s finally the weekend and I have only about 500 things that I would like to accomplish.

Do you ever feel the same…like you can build Rome over the weekend?

Sigh.

Well regardless I am determined to share this financial update and to get ahead on other projects in the works.

So in my best Whitley Gilbert voice,

“Relax, Relate, Release!”

While May was not our best month for attacking debt, we did have other great events to celebrate.

One, was our daughter’s birthday and the second, Mother’s Day. We always say that we will not overspend for either, but true to form, we always do. There are some things in life that are simply worth celebrating and the month of May is one of those times!

Our Spending: Why do I share such personal information?

First, I believe that the truth genuinely helps and inspires us to find strength to overcome our own circumstances.

I hope our story resonates because our culture embraces such a social media mentality. We falsely believe one-dimensional tweets, posts and perfect Photoshop images that portray how everyone else is living such a perfect life. But life is not perfect and sometimes the smartest, most attractive people who take fabulous trips and drive nice cars are one, or one-half, of a paycheck away from financial disaster.

I thank you for the emails and comments where you have thanked me for the courage to share our financial journey. I say, let’s get stronger together.

Secondly I share this information because I am comfortable sharing it. Most personal finance bloggers blog anonymously, but I don’t.

My picture is of me, my name is mine and my blog is followed by people who I see everyday and who I have known for years! If I can’t be real then I can’t really help!

In some instances, I will list specific amounts like when we paid off $16,905 in April and then sometimes I will share percentages and or dollar ranges. In any instance, God gets the Glory and the transparency is to encourage and to inspire, so please don’t judge or assume more than what I share.

Please know that my only intent is to help and to serve.

So truly and for real this time, here are our May Hits and Misses.

Hits:

1. All regular and fixed expenses (mortgage, utilities, insurance, etc.) were paid on schedule (actually early) and via online banking. I am a huge fan of online bills–no mail to hunt down, no checks to write. Just review the ebill, schedule the amount and the pay date and relax. Also in a future post, I will share how we use a singular account for bill pays…this has helped us tremendously.

2. Charitable Giving, i.e., church, 17.31% this month. Yep, always honor God. Always!

3. Additional income, $1400. We did well with this additional income. We assigned it a specific purpose and did not blow it by shopping or by eating it. We tithed, paid extra ($328) on one of the last standing credit cards and saved the rest. Boom.

4. Paid one lump sum for summer camp. Parents everywhere can relate to this little extra mortgage payment. We are off to a new camp this year and they require that the balance is paid upfront. Like the whole thing. As in all of it. Like 2 whole weeks before they even start.

Alright. I’m okay now.

5. Eating Out: Spent $74.84, Budgeted $75.00. We made it!

6. Continue Retirement Contributions: 5% and a 5% match from employer. Score!

7. Continue our monthly United Way support.

Misses:

1. May Celebrations (Birthdays & Mother’s Day): Spent $627, Budgeted $400. Over spent by $227

2. Groceries: Spent $491, Budgeted $440. Over spent by $51

3. Automobile Gas: Spent $412, Budgeted $400. Over spent by $12

4. Savings: Saved $650, Targeted $1200. Missed target by $550

Aurghhh! These misses hurt.

Other than May celebrations, we really should have hit our other budgeted amounts. Naturally for June, I’m all over the details so that we can do better and save more than we did in May.

June’s Goals

1. Shop smarter for groceries, stay on the cash system.

2. No clothes shopping, for me at least. I recently completed my winter-to-summer closet conversion and I had to humbly conclude that I have enough. I don’t need anymore stuff.

3. Save early and stick to it.

4. Keep my creative outlets flowing. God gave us purpose when He created us. Use it!

Check out my other posts from this week:

1. 26 Money Saving Tips

2. 5 Steps to Get Out of Debt

How did you do for May and how will you get in charge of things for June?

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