Wednesday, January 2, 2013

$20K Savings Challenge.....DECEMBER Update & YEAR END TOTAL


Here is my DECEMBER Savings Challenge Update post for 2012.
This post is NOT about bragging or showing off.  It's just what we are able to save given our income and being able to hang tough against "unconscious" spending.

Just to update, My Savings Goal for the Year in 2012 was $20,000. 
Our background info--We are a family of 5(kids are 21-16)with one living away from home.  We have 2 dogs. We own 4 cars at present and live in/own free & clear a 4 bedroom house in a small town.

On to the December report.....

I have posted my DECEMBER End of Month $20K $AVING$ 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 $1,666.67.

I have to report that we finished up December in the black!
The extra cash amount we ended the month of December with?.......$2,555.70

Income
We had $2,378.54 left over from our income after our monthly expenses were deducted. 
Add in 2 year-end dividend checks from investments and a small refund on our car insurance.  When combined, these totaled $177.16.   This brought our gain to $2,555.70 for December.

Outgo
As for the expenses this December, most of them were on the bad side, rather than the good side....

HERE are the GOOD THINGS
* The cash withdrawals were $200 lower.

HERE are the BAD THINGS
*  The water bill went up $3+.
*  The medical/dr. bills were $47 higher than last month. 
*  The credit card bill went up $778.
*  The electric bill went up by $83.
*  The car needed new tires to the tune of $439.29.
*  There was extra money spent in Dec. due to Christmas.

The Food Budget costs for DECEMBER are in another post, which is located HERE.
We managed to almost stay within our $400 food budget in December.

The 2012 GRAND TOTAL.....
With 12 months behind us, our Savings Grand Total for 2012 ended with  $28,907.08 in the fund!
We were able to hit our $20,000 goal plus almost another $9,000.

I am happy with how much we saved in 2012.
Some months it was easy and some months we had a hard time scraping together $1000 to put aside and not spend.
Heck, we were even NEGATIVE money in September!

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

If you posted your financial progress on your own blog, leave a link in the comments so we can go check you out your progress too and celebrate with you!

Sluggy

4 comments:

  1. Yeah for a great December, & hitting your 2012 goals! We also had a good month, which surprised me a little. All of that hard work & cost cutting is finally starting to pay off. :-)

    http://thehawaiiplan.blogspot.com/2013/01/december-budget-in-review.html

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  2. You did awesome this year? So are you planning to save another $20000 in 2013?

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  3. You are my hero. I hope to save at least $20000.00 this year, hopefully more. What are your plans for 2013?

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  4. YOu are amazing! I like saying that to you!
    And I love the blue background!

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