$60K Savings Challenge DECEMBER Totals & The Year End TOTAL

I have posted my DECEMBER End of Month 60K $AVING$ CHALLENGE Totals.
Check out the side bar to your right(near the bottom) for the specific numbers.

We had another Excellent month growing our Savings in December!

I have to report that we finished up December in the Black again.

The amount we ended the month of December with was..........$2,104.79!
And that amount was AFTER Christmas spending so I am pretty excited for the total.

Besides Hubby salary we had a hefty amount in Rebates, some rolled Coins and I sold a few things on eBay.  While not a large sum of money, it does add up and help to beef up the savings amount.

As for the expenses in December.....
The electric bill jumped $60 from November, as December was quite a bit colder overall here and the heat was on full time.
The water bill jumped $17 from last month. No explanation for that one.
All other regular bills...Cable, Internet, Phone, etc. are the same each month. 

The Food Budget costs for December are in another post, which is located HERE.  Food/Toiletries spending in December was low after rebate income was figured in and compared to the value of the items bought we saved just over 92%.

We had some out-of-the-ordinary expenses in December.  There was Christmas & daughter's birthday spending(gifts, travel, special food, etc.), though we didn't spend all of the $800 we budget for that so we are under on that expense.
But there were unexpected bills such as--the veterinary hospital($182.90), an electrician visit($109.55), an additional car insurance fee($209.51)since the daughter got her license this month, and 2 car repairs/maintenance bills($1072.94).  If not for these $1574.90 in unusual expenses, the amount to put into savings would have been 50% larger.

The credit card bill,which is paid off EVERY MONTH,($826.58) wasn't very high considering 1/3 of that Dec. bill was Christmas gifts bought early and now are paid for already.  We only have about $170.00 in Christmas & Birthday purchases that will be on the January credit card bill.

The way things turned out, those unusual expenses I was anticipating having to pay out on in December are going to be due in January instead.  These would include Oral Surgery for both Daughter and #2 Son and Orthodontic Work for #2 Son.  It will be a very expensive month for our family's teeth. 8-(


At the end of TWELVE MONTHS of this $AVING$ Challenge, and we have a Savings Grand Total of $23,865.36  for the Year!

While it is nowhere close to the $60 THOUSAND I shot for, I am pretty pleased with the Total we were able to save.  Believe me when I tell you that every penny of that is safely snuggled into an account earning interest.

So what exactly is $23,865.36?

$23,865.36 is paying CASH for a Nice Car!
Not that I would ever spend it that way.lol

$23,865.36 is a total kitchen remodel or a bathroom addition on your home for CASH!
Ok, this is a way I might consider spending it.

$23,865.36 is sending your kid to college for a Year with NO LOANS!
Oh yeah, that's a most excellent way to use that money.

$23,865.36 is paying off a car loan, a student loan, a second mortage or line of credit, or putting on the principle on your mortgage so you are one step closer to being DEBT FREE!

$23,865.36 is a ready made CASH Emergency Fund so that the next time Life hits you with a money emergency, Life can't kick your ass and make you put that emergency on a credit card!


So how was your December financially?  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!

And what are your plans for your money in 2010?  Do you have a Budget or some kind of Plan for your Money laid out IN WRITING for 2010?  It's time to start thinking about how to get a fresh start to Financial Freedom in the new year!  You need to let your money know what you expect it to do for you.  If you don't, your money will do what it wants and just fritter away.  Don't be left standing at the end of 2010 with nothing to show for all your hard work!
Make a plan!
Do it NOW!!


Sluggy

$60K Savings Challenge NOVEMBER Totals.....More Great Progress!

I have posted my NOVEMBER End of Month 60K $AVING$ CHALLENGE Totals.
Check out the side bar to your right(near the bottom) for the specific numbers.

We had another Excellent month growing our Savings in November!

I have to report that we finished up November in the Black again.

The amount we ended the month of November with was......sit down for this......$3,189.49!
Woot!


The electric bill went up less than $20 from Oct.'s bill.  Not bad considering that the heat was on fulltime this month while Oct's bill saw the heat just being put on occasionally. 

The water bill went down again in Nov. another $3.  I guess the kids are getting a couple more wears of out their clothes before putting them into the hamper.lol
All other regular bills...Cable, Internet, Phone, etc. are the same each month.

The Food Budget costs for November are in another post, which is located HERE.  Food/Toiletries spending in November was low after rebate income was figured in and compared to the value of the items bought we saved over 93%.

So, what did I do right in November to come out of it with over $3K extra?

First, we have no mortgage payment or car payments.  Those are the 2 big Bugaboos that suck down your income.  Having bought a modest house and having paid if off asap combined with paying cash for cars(which means we always buy cars we can AFFORD and don't finance), means we have been able to cut our living expenses dramatically.  It didn't happen over night though and there were many years of living well below our means and socking every penny into savings.  But knowing that those lean years wouldn't last forever and that there was a shining Goal of being debt-free at the end of it all made it so worth it.

Secondly, we had no other large bills....taxes, sewage, insurance, etc. this month.  These are paid quarterly or semi-annually and not due in November.

Thirdly, we stayed out of restaurants and I didn't do as much running around in the car, saving gas and shopping expenditures.  That was reflected in the lower credit card bill in November.  The cc bill(which is paid off every month-NO BALANCE)went from $845.49 in October to $536.51 in November. While not a big difference, there was less gas needed for the car since I didn't travel far last month(except to Acme)& we didn't dine out much. 

We are Eleven Months into this $AVING$ Challenge, and we have a Savings Total of $21,760.57 for the year.

What's ahead for December....
Looking at my check register from last December I see that we have some quarterly bills coming due this month.  Nothing large but they add up before you know it.

We do have ALOT of out of the ordinary expenses for December....
an additional amount toward car insurance(daughter has been added as a licensed driver)
a vet bill for a very sick dog
clothes for 2 of the kids
possible holiday travel expenses(gas, hotels, eating, kennel boarding-budgeting at least $800)
oral surgery bill for daughter(insurance covers some of this)
orthodontist bill for son(we pay upfront for the discount and insurance covers some)
holiday gifts (mostly for our 3 kids, we are considering not exchanging gifts with the adults this year)

Besides hubby's paychecks, I've opened up my eBay store this month(though it's been slow selling so far), and I am waiting on over $200 in rebates, so we have a good potential on the income side.

Income up, expenses way up.....we'll be lucky to NOT go negative in December.
I am hoping for the best, but bracing for the worst.  If we have any money leftover at the end of December I will count myself extremely lucky!

Be sure and check out how others are doing with their finances this month at Money Saving Mom.

So how was your November financially?  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!

And what are your plans for your money in 2010?  It's time to start thinking about how to get a fresh start to Financial Freedom next year!


Sluggy

$60K Savings Challenge OCTOBER Totals.....Amazing Progress!

I have posted my OCTOBER End of Month 60K $AVING$ CHALLENGE Totals.
Check out the side bar to your right(near the bottom) for the specific numbers.


Reversely, as badly as September's numbers were, October's totals are amazingly incredible!


Unlike September, I have to report that we finished up October in the Black.

The amount we ended the month of September with was......sit down for this......$4,099.02!
Woot!


The electric bill went up $7+ from Sept.'s bill.  Not bad considering that the heat went on(now & again) halfway into the month.

The water bill saw a decrease of $10+.   Don't know what's up with that but I'll take it!lol
All other regular bills...Cable, Internet, Phone, etc. are the same each month.

The Food Budget costs for October are in another post, which is located HERE.  Food/Toiletries spending in October was my lowest monthly total for the year, once you figure in the flea market money I earmarked for Food/Toiletries Budget and the rebates that arrived.
With Thanksgiving fast approaching and Christmas shortly after it, plus a pretty good Catalina Deal at Acme and Weis this week, I hold no grand illusions of staying out of the grocery stores this month.lolol
Face it, I am a Catalina Deal 'ho. ;-)
If things go as planned(and they never do in my world), I will come out of this week with mega Food Bank donation material....and a detailed blog post to follow.   This shopping trip(s) will take a piece of my food budget however since the coupon coverage on the deals is spotty, so I'll be using some $$ to get it rolling and there will be costs on each transaction, albeit small.  But the end result will be so worth the cash spent. 8-))

So, what did I do right in October to come out of it with over $4K extra?

Firstly, I spent more in September because I paid some bills quarterly, so garbage and sewage are done for the year.  No October payments on those...$200 saved for the month.

Secondly, we stayed out of restaurants and I didn't do as much running around in the car, saving gas and shopping expenditures.  That was reflected in the low credit card bill in October.  We also didn't have any large charges on the cc bill.  The cc bill(which is paid off every month-NO BALANCE)went from $2333+ in September to $845.49 in October.  That's a BIG difference!  About a third of that $845 was for a bed for my son who outgrew his old bed.  Savings difference from last month of $1488.

Thirdly, we had no local/state/school taxes due in October, like the $1800+ we paid in September.
We did have some non-regular monthly bills, like a $160.80 car repair and a $72 vet bill but nothing big enough to put much of a dent into the savings for the month.

Fourthly, Hubby tried very hard and was able to keep his Cash withdrawals lower in October.  I guess he read my September rundown.lol  He's been taking his lunch to work more and not spending so much on incidentals and impulse purchases.  I am so proud of him! 8-))

Even though saving a dollar here, a dollar there may not seem like it helps you save any substantial amount of cash, in the long run, when you add those pennies and dimes up, they turn into dollars...and when the dollars start piling up, it can turn into a HEAP of $$!

We are Ten Months into this $AVING$ Challenge, and we have a Savings Total of $18,571.08 for the year.

What's ahead for November....

I keep handy my previous year's check register.
Why?
Because by referring to what checks were written last year in November, it gives me an idea of what expenses we will be seeing this November.  I see that there are no large recurring quarterly/yearly charges coming due this month, so if we can keep the current spending/bills low & no unexpected bills pop up, I see the potential for another good savings month.

The variable expenses need to be monitored carefully though....the cash withdrawals,  the food spending,  and the credit card usage.  We are under $500 on the cc bill with only 6 days until the statement closes for 'our' month(which runs from the 10thish to the 10thish), so that expense should be low.  The food spending(with my dealaholic tendencies)is my Achilles heel here.

Besides hubby's paychecks, I'm jumping back into eBay this month, and I am waiting on over $300 in rebate checks and expect at least $250 worth of them to arrive this month, so we have a good potential on the income side.

Income up, expenses down....it's looking promising.  Cross your fingers we can all get through November financially advantageously!  December will be a whole other hedonistic holiday ballgame....

Be sure and check out how others are doing with their finances this month at Money Saving Mom.

So how was your October financially?  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!

And what are your plans for your money in November? 


Sluggy

$60K Savings Challenge SEPTEMBER Totals...This Won't Be Pretty!

I have posted my SEPTEMBER End of Month 60K $AVING$ CHALLENGE Totals.
Check out the side bar to your right(near the bottom) for the specific numbers.

Ok, I am hanging my head as September was an utter failure!
I know I had 2 HUGE payments this month--#1 son's Tuition/Room/Board bill for the 1st Semester and then the New Roof bill that nearly doubled in price from the estimate we had gotten.
UGH.
But those items were paid for from other savings pots we have--the College Fund & the Home Repairs Fund.
They didn't figure into the September money pool at all.
There are other reasons why this month was a financial disaster.

With deep regret, I have to report that we finished up September IN THE RED!

The amount we ended the month of September with was -$1163.35.
That's a NEGATIVE Savings of $1163.35.


We had no rolled coins and I am still sitting out on eBay.  I think it's time to get back into selling there for the Holiday Season.

On the recurring utilities front, we saw an increase of $.44 in the electric bill from August, so that bill basically stayed the same.  Once the heat gets turned on in this month, it's a slow steady increase in electric usage until the PEAK Month of Cold known here as February.
Ugh.

The water bill saw an increase of $20.64.  That's about a 45% jump from August.  It was expected as both kids were home from camp and since starting school, are showering more and having me do more loads of laundry.
All other regular bills...Cable, Internet, Phone, etc. were within normal parameters.

The Food Budget costs for September are in another post, which is located HERE.  Food/Toiletries spending in September was my lowest monthly total for the year.  I'm hoping to stay out of the stores more this month and am dropping the October Food/Toiletries Budget to $200.

So where did things go horribly wrong?
I'll tell you.
*  I paid the Garbage bill(which is due monthly)ahead to the end of the year. That was an extra $126 that didn't HAVE TO come out this month.
*  The quarterly Sewer bill also came due this month, so add on another $90.  At least I got a break for paying it on time. woohoo....lol
*  The 3rd car(the Family Heirloom)needed it's yearly checkup and maintenance.  There goes $914.97.
We figure this car will cost us about $1K a yr. to keep it roadworthy so it's not unexpected having to spend this.  It's just that the cost snuck up on me in September.
*  Then the school taxes came due.  Around here this is a separate tax from any municipal, city or local taxes. I always pay them during the "discount period" so we get a small break on the amount.  I should have paid them last month and would have if I had remembered that the Family Heirloom had it's yearly repair appointment in September.  This tax adds another $1800+ to the budget.
So that's just shy of $3,000.00 of non-monthly recurring expenses.

Add to that a higher than usual Credit Card bill I paid in September for August charges, that included the hotel lodging/meals/gas for taking #1 son to college, some modest back-to-school clothes shopping, college textbook rentals, #1 son's new laptop for school, pool supplies, the graphing calculator that daughter's class required me to buy, breaking down and paying through the nose for #1 son's graduation photos(ouch!), and a bit too much of eating out from August because it was too hot to cook(yah, that's my story and I'm sticking to it!lol).....and we get a CC bill for $2,333.31.
Gulp.
Oh.
My.
Clear as mud now why I am over $1163.35 on my budget for September.

It's a good thing there is money saved at times like this.
*  I don't have to resort to getting a cash advance on my credit card to cover this amount and pay the outrageously HIGHER Interest Rate on Cash Advances as opposed to the rate for regular purchases of goods & services.
*  I don't have to borrow money from a relative or get a payday advance loan from one of those predatory snarky Payday Loan places.
*  I don't have to pawn or sell things to cover this shortfall.
*  Or worse, not pay the bills and have things shut off or repossessed.

Nope.
Because I had extra money at the end of the month for 7 of the last 9 months AND I tucked it away and did NOT SPEND IT, I can easily cover the extra bills this month.
Piece.
O'.
Cake.

Of course, it totally sucks and is disheartening to see In The Red at the end of this month.
But it makes me more determined NOT to let this happen again this year.

We are Nine Months into this $AVING$ Challenge, and we have a Savings Total of $14,472.06 for the year.

What's ahead for October....
Even less food spending.
Trying to get hubby to make less large cash withdrawals from the account and trying to get him to keep receipts/account for the money.  I don't think he has any idea how much he spends since he won't track it.
No travel this month so no unusual hotels, gas, food expenses.
The credit card bill should be substantially lower.  With 2 days to go before the statement closes for this period and we are under $1000.  And that includes the new bed purchase for #2 son.

I'd love to stash away $2K this month.  It should be do-able unless something comes up.  I really need to make up for September's loss in the savings column.  And it would be nice to have a low expense month before the Holidays hit because even though we don't go HOG WILD on stuff at the Holidays, expenses do happen.

Be sure and check out how others are doing with their finances this month at Money Saving Mom.

Sluggy

It's Almost Time for the End of Month Totals....

I was just sitting and doing some monthly calculations while my macaroni cooked for the homemade Mac & Cheese I am making tonight.
With 1.5 days left in September it looks like I'm going to have both good and bad results.  My monthly food & toiletries budget will be under my $250 mark but my $60K $AVING$ Challenge will dip into the negative for September.
Ugh.
September is turning out to be another bad month for squirreling cash away. Haven't had a negative savings month since February.  And this month's number will blow that Feb. negative total out of the water!

I'll try not to stick my head in the oven with the Mac & Cheese over this.
Oh wait....we don't have a gas oven so that won't work anyway.

I guess I'll live to try to save again in October.
**Sigh**

Sluggy

$60K Savings Challenge JULY Totals...Gaining some Ground!

I have posted my JULY End of Month 60K $AVING$ CHALLENGE Totals.
Check out the side bar to your right for the specific numbers.

I am once again able to say that we finished up JULY in THE BLACK!
The Savings for July was just under $2,700.

The MasterCard bill(which is paid off each month-NO BALANCE EVER!)was just over $2K this month. We had some big unusual purchases like 4 pairs of eyeglasses for assorted family members & the new stove. Those alone accounted for over half of the bill. UGH. Add in hotel bills & gasoline expenses from the Bermuda Triangle trip(Eastern PA to VA to Western PA to home) and that's the bulk of the cc bill. It's a good thing July had 3 paychecks in it. ;-)

We had a bit of rolled coins as usual, but I am still sitting out on eBay for now.

On the recurring utilities front, we saw a $19.43 reduction in the cost of the electric bill from June. The unseasonably cool summer so far here is responsible for this. The water bill increased by $6.64 from June's total. Hubby continued dealing with pool problems in July, where he's had to partially empty and refill the pool so usage was up more than the month before. I hope the August bill will decrease since the hole has been patched finally!

The Food Budget costs for July are in another post, which is located Here. Food/Toiletries spending in July was my lowest monthly total for the year. I was $20 above my goal of $500 for the month so I'll stick with that budget amount for August as well. I dare not say I won't add to the stockpile, because we all know I WILL anyway!lol The garden has just started yielding produce which will help keep me out of the grocery store's fresh veggie section for another month or so.

We are Seven Months into this $AVING$ Challenge, and we have a Savings Total of $14,846.16 for the year.
Shall I mention that I should have $35K at this point since that's 7 months worth of $60K?
Naaaah, let's not go there.lolol

What's ahead for August.....I'll try to keep the stockpiling to a minimum, despite KMart holding ANOTHER Double Coupon Event.....oy! They sabotage me every month it seems!lolol I may have another Garage Sale(if the heat doesn't get too unbearable)or find a Flea Market to set up at(if the cost of the space isn't too high). Or maybe I'll wait until early Sept. to do that. At any rate, I see another Yard sale or something similar in my future. ;-)
I will also be ramping up my eBay Store later this month or early in Sept. It just depends on when I see selling prices picking up for what I have to offer.

In terms of cash outlays in August, it could be another expensive month with the back-to-school costs(shoes for the kids, school fees, etc.)The school supplies like paper and pencils, etc. are pretty much taken care of already, thanks to Staples, WAGS and CVS. But we have an incoming College Freshman so there are travel expenses and major outlays of money involved here(laptop computer, dorm stuff still to be determined, & the killer-College Textbooks!!). I'll be looking for ways to reduce these costs were I can in the few short weeks I have to procure these items.

I'm hoping to NOT loose ground on the Savings Challenge front and would be thrilled to sock away another $1K in August. Cross your fingers we can achieve this goal! 8-))

Check out Money Saving Mom's Blog May Financial Update Post to see how others are saving money and living more frugally Here.

Sluggy