Wednesday, September 7, 2011

$32K Savings Challenge for 2011.....AUGUST RESULTS


Ok, here is my Savings Challenge Update post.
Yes, the one where I piss everyone off.
Seems like folks don't want to hear about what I save, besides a few blogging friends who I cherish their cheerleading and constant support....you know who you are! ;-)
This post is NOT about bragging or showing off.

It's about the results of what you can do financially if you tighten your belt, stop buying CRAP and be persistent with keeping track of where every dollar goes(well, most dollars if you have a less than motivated spouse).

On to the August report.....

I have posted my AUGUST End of Month $32K $AVING$ CHALLENGE Totals.
Check out the side bar to your right for the specific numbers.

I have 2 goals each month.....
The 1st is to actually finish each month in the black and not the red.
The 2nd is to hit the targeted savings amount of $2,666.67.

I have to report that we finished up August in the black!
The extra cash amount we ended the month of August with.......$1,779.83.

Income
We had $1749.47 left over from our income after our monthly expenses were deducted.
Add in $28.38 of Rebates applied against the food expenses and $1.98 in Interest on the Checking Account toward the Savings Challenge for a total of $1,779.83

I didn't count my $20 Toluna payout since I am keeping it to spend on myself. ;-)

Our monthly target is an average of $2,666.67 to reach our Year End Goal.
Obviously we didn't meet that target.
But we got a lot closer than I thought we would.
August was a big "money flowing out" month here.

Outgo
As for the expenses in August....

HERE are the GOOD THINGS
* We paid the Sewage bill for the year a couple of months ago, so no quarterly payment this month.
* The water bill held steady.
* I just barely went over the food budget.
* We made $335.50 at the Stockpile/Garage Sale.  This money was used for college necessities & gas to take kids to college so I didn't have to dip into the regular income for that.


HERE are the BAD THINGS
* The credit card bill was almost $1000....and it didn't include the cost of Daughter's new laptop.
* The semi-annual car insurance bill was due.  We've got 2 teen(next year will be 3 teens)drivers on that. We already pay almost $2500 a year for car insurance so I don't want to think about having another teen driver on our plan.  Oy!
* The electric bill was up $18 from July.
* The WAM & cash withdrawals were MUCH higher than usual.  As usual Hubs won't track his spending and get receipts so I have no clue where some of that money goes....sigh.
* I had to pay $316.47 to a local college for classes Daughter took while in high school last school year.  The program that covers the tuition expense only covered half of the cost so we are on the hook for this much.  I'm not complaining about this as it was a great rate and the credits transferred to her current college so that's a few credits less she has to take at the full rate there for a degree.  As I also just got done paying out over $16,000 in August for oldest 2 kids fall semester tuition, room and board and books, the timing of receiving this bill couldn't have been worse in my mind!  We now have 2 in college so the financial trauma to my constitution is doubled each semester.
While the college charges didn't come out of our monthly income, seeing all that money fly away sure takes my breath away.
Yowza!


The Food Budget costs for August are in another post, which is located HERE.  The actual Food/Toiletries spending in August was almost on budget when rebate checks were applied toward the food bill.  "Missed it by $2.02!" ,  she said in her best Don Adams voice.
But close only counts in horseshoes and hand grenades. ;-)

What's ahead for September.......
There are the usual suspects: electricity, water, phone, cable, credit card bill, food cash, etc.
We will have more Marching Band associated expenses in September since it is Marching Band Season.
We will have the $2000 school taxes bill to pay.
The credit card will be killer this month.  It's already up to $1600(half of that is for Daughter's computer)and the billing period doesn't close until Friday.  meh.

YEAR-TO-DATE TOTAL.....
With 8 months behind us, our Savings total to-date for 2011 is $22,560.85.
We are just over $1,200 ahead of reaching our final goal at this point in the year.  If we end up having a really bad expensive month at some point in the next 4 months, this will help us to overcome it and still finish the year reaching our goal.  It's like a little "get out of jail free" card for our Challenge.  Having that little extra takes some of the pressure off me. ;-)
Plus we are due another extra paycheck in December....sweet!

So we have less than $10K to reach our goal for the year.  That means just under $2500 per month.

So how are your savings growing so far this year?
Do you have an emergency fund of 6-8 months worth of expenses!  You really should, you know.
With the current financial climate in this country, you should try to put away into savings as much as you can each month.
So come along and Challenge Yourself to Save Money each Month Toward a Realistic for YOU Savings Goal!
Not everyone can shoot for $32K, I fully get that!
But everyone can shoot for some number, right!?

Find a money goal that works for you and put that number out there for everyone to see.  It will help keep you accountable to your goal if other eyes are on you.
Ooo, that sounded kind of creepy didn't it? ;-)

So how was your August financially?
Did you spend less than you made?
Did you stay within your budget or not?

Leave a comment and share with us what you did with your money, both the good and not-so good.   Do you have any tricks or tips that help you to end your month before the money runs out?    Let us know!
If you posted your financial progress on your own blog, leave a link in the comments so we can go check you out too!

Sluggy

8 comments:

  1. Found your blog today and LOVE it!! I don't save big savings numbers like you, been throwing really big numbers at my mortgage. You are right that some people don't like to read it. I do, I think it's inspiring and something to learn from.
    Love your sense of humor(humour - I'm Canadian)
    Save on Slugmama!

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  2. I am in awe all the time. Oh, I just come here hoping that some day you will give us the "boring" part of your blog...lol. When I posted my luck with free stuff on my last post, I was accused of being greedy by one person. I was offered/handed 60 bottles of hand sanitizer.

    No, I don't have any savings, just savings on what I spend. Free or dirt cheap is the way I go on other items in order to afford fresh fruit and vegetables

    I hear an egg song. Maybe it will be golden...lol.

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  3. Are you telling me that I could sell my crap for $8.99 a pound? With six of us here, we could make a killing!
    Listen, because of you, I have toothpaste to last me for the next 10,000 years. If you don't believe me, just you wait.
    m. Your Biggest Cheerleader

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  4. Mark, NO, I am her her most fervent cheerleader...lol...just kidding.

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  5. WOW you really did great...and um Mark I thought you were MY best friend..girls I think Mark is playing us(I love you mark really)

    Judy

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  6. You're doing great! I'm scrounging around for money these days to pay for things for the wedding because NO ONE ELSE IS GOING TO!!!!! But I'm not bitter.
    I look forward to the someday when my kids won't be sucking me financially dry every single blessed month... No light at the end of that tunnel however.

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  7. You are doing so great! But I sound like a broken record.
    And who said something negative to me sluggy?

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  8. " "Missed it by $2.02!" , she said in her best Don Adams voice."

    I want you to know that when I read "Missed it by..." I was already hearing Don Adams' voice in my head, before you even told me to :) Ahhh, the good ol' days.

    Congrats on being in the black and stashing so much away!! You rock, as always! I am still struggling with trying to come in under the black/red wire every month, and not being able to stash anything away. So far I haven't had to deny myself some things I really love/like/consider splurges, but those may have to go next if I can't figure this out to give myself some sort of financial breathing room. A friend suggested taking in boarders, but I confess that even with a lot of extra space now, I'm relishing my peace and quiet SO much :)

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