It was only 2 weeks ago that I created a budget and 5 days ago that I shared it with the readers. As you know, I have started the house search process, which has thrown a wrench into that budget plans. To save money for home improvement projects and possibly the down payment (I figure I have been approved for what I’ve been approved, unless I need to get a reapproval in 2.5 months because I still haven’t made a purchase yet), I need to be more aggressive.
Here is the comparison of my June and July budget:
As you can see, rent, utilities, cell phone, internet, netflix, and car insurance are all fixed spending that I cannot control. I am hoping to reduce the electric bill next month with some new surge protectors that are supposed to reduce energy vampire effects, but I’d rather be safe by over budgeting. Most of the variable expenses have been reduced in budget.
Transportation: I am hoping that this will be lower but there are some talks of me being assigned a client engagement out in the suburbs, which would require the budget to be at this level, if not higher. Until I know for sure, I am not changing this budget.
Groceries/Food: I am hoping that I would be able to make this drastic reduction by relying on my current stockpiles and enjoying the produce from my garden. Based on how it goes in July, I may try to reduce it further to $100/month in August.
House fund: These are the items I end up purchasing for the house, such as energy saving surge protectors and printer ink. Since I am out of printer ink, this is where this budget will most likely go.
Hobbies: My new hobby will be to read my existing magazine subscriptions and to get ideas of home remodels/decorating.
Spending Money: This is the area that I am most nervous about. In order to stick with the budget I will need to make sure to bring lunch every day, limit outings with friends, and eliminate shopping altogether.
Oopsies: This is my buffer budget in case I receive a parking ticket, lose money (like I did this weekend), etc. It has the potential to become a slush fund so keeping it limited will help me stay on course.
I have more thoughts on this but this post is getting to be long, so I will share that another time. I hope you all have had a fantastic weekend!