Friday, November 4, 2011

$32K Savings Challenge......OCTOBER 2011 Results


Ok, here is my Savings Challenge Update post.
This post is NOT about bragging or showing off.
And I am still loving this photo from previous month's Savings Challenge posts.
Like everyone, I LOVE a special on crap.....but how do you ascertain if crap is fresh?
Does fresh crap smell.....fresh?


The theme this month is when it finally looks like you can save a boatload of money,  Lightning strikes....literally!, and costs you some of your traction.

On to the October report.....

I have posted my OCTOBER 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 October in the black!
The extra cash amount we ended the month of October with?.......$2,882.92!

Income
We had $2788.98 left over from our income after our monthly expenses were deducted.
Add in $3.00 in Rebates(LOL) applied against the food expenses, $1.94 in Interest on the Checking Account toward the Savings Challenge & the $89 I made selling some dolls, you get a total of $2882.92.

Our monthly target is an average of $2,666.67 to reach our Year End Goal.
We finally had a month where we matched or surpassed that goal!

Outgo
As for the expenses in October......

HERE are the GOOD THINGS

* The electric bill went down $40.
* The water bill went down $20.
* There were no car repair bills or taxes due this month...finally!!
* I sold some dolls laying around the house....booyah!


HERE are the BAD THINGS

* The credit card bill was over $1500 again!
* The food spending was over $600.  It's usually around $250 a month.
* The WAM & cash withdrawals were very high. Hubs did agree to save his receipts so once I get those I can analyze where some of his money went.  Stay tuned.....
* The lightning strike the end of Sept. took out the following: my computer, my printer, #2 son's tv, the garage door opener, the router, the modem and at least 1 electrical outlet upstairs.  So far we've spent $1433.66 on replacing/repairing items.  After our policy deductible of $500, the insurance company refuses to pay an additional $328.44 on the $1433.66 we've had to spend, so we are out of pocket $828.44 for this event.  Some of this spending went on the credit card and will show up on next month's bill.
The insurance goons have been real buttholes.
This is the first claim we have EVER made on our homeowner's policy which we have had with this same company since 1986.  
1 claim in 25 years.
Wanna bet our rates go up next year?

The Food Budget costs for October are in another post, which is located HERE. Once I applied my rebate check total of $3.00, I was still over $600 in food spending for the month.  I sucked at being frugal on food this month.  But I still have over a 79% savings rate on food for the year so I only suck a little.lol

What's ahead for November.......
* There are the usual suspects: electricity, water, phone, cable, credit card bill, food cash, etc.
*Though the big Thanksgiving meal is coming up I still plan to stay on budget with food for November.
* The credit card is hovering at just under $1K yet again, with 9 more days until the billing cycle closes.  We just can't seem to get it down under $500 per month, can we?
* Hubs commuting car needs a tune-up and oil change.  Every time we take it in, this always costs more than just those things so I am steeling for a car repair bill.

YEAR-TO-DATE TOTAL.....
With 10 months behind us, our Savings total to-date for 2011 is $26,419.29.
We are $247.31 off in our monthly average to reaching our final goal at this point in the year. We should have $26,666.66 heading into November so we are just a little behind and the goal is still within reach!

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 or be throwing savings at your debt if you have some.

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.  Put it into paying down your debt, put it into savings, invest it or put it toward the principle in your home mortgage....just get busy and do this!

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 October 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

4 comments:

  1. My one cool trick at the end of the month when the money runs out: stop spending.

    I never think you are bragging or showing off. But, if all the people with the money you have could do as well as you do when you save on spending and on saving, the state of the economy, individually and overall might improve. Okay, at least individually.

    The killer for me last is having to drive 50 miles one way to MRI and doctor visits. In this town, the only MRI scares me because it is so tiny. The doctor I have had operate on me is where the big MRI is located. So, I drive even though I cannot afford to because I want not to be in the hospital here.

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  2. You are one savvy saver...if I fall a little short I'll just hit the Sluggy bank ;)

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  3. "The insurance goons have been real buttholes"-Stronger language is needed!
    Great job!!

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