To-Do List.....April Outcome

Another month in the books so let's see what go accomplished or not..............

* Pay Bills  DONE  Always first thing, then we move on.

* Read 1, 2, 3 Books  PASS 
Since I read a record 4 books last month I hope to read 3 in April what with Coronavirus and all but I only finished off 2(though I got about 1/3 of the way through #3).

First I read this one..........

"Everything All At Once:How to Think Like A Science Guy, Solve Any Problem and Make A Better World" by Bill Nye

I have always felt a connection to Bill Nye-first my kids loved his "Science Guy" shows on TV-especially my daughter who grew up to be a scientist and second because his mother went to my college alma mater(and was recruited from there to work in a secret code breaking department during WWII-the Dean of my college, Dorothy Stimson happened to be a cousin of Henry Stimson, whom FDR brought back into government as his Secretary of War once WWII broke out, so with all the men off fighting Henry asked his cousin if any of the ladies attending her school would be smart enough to help out behind the scenes and Bill's mom, Jacqueline Jenkins, was one of those selected).  And who doesn't love a man in a bow tie? lolz

Anyway, this book took a long time to slog through.  Basically it's a book on how to think like a nerd.  Be forewarned going in that Mr. Nye is passionate about two things-space and climate change, so much of it involves those subjects.  There are some interesting biographical tidbits and peeks at his early career that I found lovely.
After I got through with this book I decided that Mr. Nye is an odd duck overall but I am glad I read his book.
3 Thumps Up

Then I read this one........

"Beethoven's Skull; Dark, Strange and Fascinating Tales From the World of Classical Music and Beyond" by Tim Rayborn

I needed a "light" read after Nye's book and this didn't disappoint.  If you like the macabre and strange read this book.  It's all about the strange tales of famous(and not so famous)musicians/composers in history from the Middle Ages to the 20th century.
Who knew that Anton Bruckner had an unhealthy obsession with dead bodies?
Or that Arnold Schoenberg suffered from Triskaidekaphobia(fear of the number 13)?
I even found one of my direct ancestors in this book!(Of course I did, I am related to everyone. lol)-William IX, the Duke of Aquataine, my 27x Great Grandfather.  He was a Troubadour, one of the first of the Middle Ages who's musical works survive into today.  

This author has written a book in a similar vein about theatre called "Skakespeare's Ear" which I'll have to find and read as well, because....theatre!
4 Thumbs Up

* Hold Giveaway  DONE

I actually held Two Giveaways in April........

* Mail Giveaway  All mailed and received.

* Clean the Masterbedroom  DONE
Hubs helped me do a thorough Spring cleaning in our bedroom the last week of April.

* Clean the Masterbath  DONE as well.  Well except the bath as Hubs has to do that one.

* Make Face Masks  DONE  I made about 16 masks(maybe a few more)I didn't keep records of them all.  In PA we were required to don them early on, especially if you worked at a drug or grocery store.

I made a few for friends at Rite-Aid before corporate got them PPE.
A couple of them were fighting over this one above. lolz

I made myself some masks..........

I made one for Ex-College Boy and when I sent Eldest son toilet paper in March I threw in a mask as I figured he'd need one eventually down in VA.

I sent this lot to Daughter in LA, both elastic looped over the ears small ones and larger tie behind the head ones for work(these cover more area with less gaps).

I didn't make tons for donation as just making these many killed my hands(I had medical issues with my hands).  If I get a "good hand day" I'll make more.

* Take Load to Food Bank  DONE  The Food Bank finally called me back and they were at least at the beginning of April still accepting food donations and not just money so Hubs took what I had gathered  up...........

All that baby food I got back in February.

And then stuff I bought(or got for Free on Freebie Friday until they stopped doing that until further notice)for donation and foods I gleaned from the stockpile.

* List Items on eBay  FAIL I figured with this pandemic folks wouldn't be buying stuff on eBay much unless you had TP or hand sanitizer for sale or other essentials so I didn't bother to put anything up there.  The bouts of anxiety last month didn't help either.  When I didn't  have a pressing task I was pretty much paralyzed and didn't get much done other than what HAD to be done.
sigh.

* Hem Hubs' Shirts  DONE  After trying on a shit ton of shirts it was determined that only 2 needed to bee taken up.  In between mask sewing, when I had to change to a color of thread that matched the shirts in question, I worked on those shirts.  Done and Hubs is pleased which is what this was all about.  Though there was a time or two I just wanted to hack him up with my scissors.......*shhh, don't tell him.

* Plan/Goals for 2020  PASS  Well unless you've been sleeping for the last 8 weeks you know why this hasn't been finished.  We did work on it some but with not knowing when it will be safe for us to travel a component of our Plans for 2020 can't be scheduled.....the component related to us moving.  
Once Ex-College Boy is back to work he will be moving out(not right away but sometime later this year)so we can begin repairs/renovations on that bedroom and the main bathroom which gets us closer to the finish line with having the house ready to list.  So there's something.
I am so tired of this stay at home order and I want to travel.  I keep threatening to drive to Kim's Sissie's house since it's pretty close and I wouldn't have to stop to pee anywhere or get gas.  lolz  I could stand to stare at her four walls for awhile rather than my own for a bit. lolz

I am hatching a plan to go see Sonya Ann this coming Winter too.....unless she moves to somewhere cold(but that ain't happening if I know her). ;-)

Eldest may be moving sometime this Summer and starting a new job in the Fall but with the global pandemic that's all up in the air still too.

While we sit here contemplating our navels we've been talking about where to move.  Besides the probability of back down to Virginia or one of the tax-friendly states I've identified there is also maybe staying in PA, but further South in the state and not here.  Not living on a mountain in PA means less snow than here and I am sure we can find someplace closer to Maryland but in PA that has less expensive housing.
I don't know and it's all still up in the air for us.

So what did you get knocked off your To-Do list in April?

Sluggy

Income & Spending Report.....August Update

* As Hubs retired effective July 1, I am no longer doing my 2017 Savings Challenge.
We ended that on June 30th.  The goal was $17.5K saved for the half of 2017 that Hubs was working.
We actually saved $21,100.42 all totaled, so $3600.42 over goal!

Now that we are living on an annuity and 401K$(no 401K$ until October)I am still going to keep track of our monthly spending and income, and hopefully we'll still be able to live BELOW our means and I'll have some leftover monies each month to tuck aside.
But this money leftover at the end of each month, at least for now(as we find our new financial "normal")won't be saved toward a yearly Savings Challenge.

The issue now is to cover all the bills with just the annuity payment each month plus some liquid savings(checking account cash)until October.
October is when Hubs turns 59.5 and then we can access the 401K retirement savings.  Until then things will be tight here at Chez Sluggy, so all the leftover monthly cash will get tucked aside to pay irregular bills that will be popping up in August and September.

Got it?
OK, let's move on.

Though nothing will be put toward it the rest of 2017(probably), the 2017 $17.5K $AVING$ CHALLENGE Totals are still available
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

On to the August report--
I have 2 goals for August.....
The 1st is to actually finish the month in the black and not the red.
The 2nd is to try to have a little cash leftover at the end of the previous month to apply toward irregular bills that are coming due in the next month.

I have to report that we finished up August in the black.
The extra amount we ended the month of August with?.......$562.41

Income

The income in August was the monthly annuity payment and the July overage of $154.88.
We had $250.72 left over from our income after our monthly expenses were deducted.

Other monies received in August totaled $311.69.  This was interest made on non-retirement accounts and a blogging revenue check.

This brought us to our gain of $562.41
Since we have no debt, this will get put aside to apply to the irregular bill coming due in September--school taxes(these are a component of our property taxes).

Outgo

As for the expenses this August, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month(Within $1 or so).
*  The water bill was $11.98 less than in July.
*  The gas card bill was $49.63 lower than last month.
*  The cash withdrawals were $200 lower than in July.
*  The electric bill was $33.52 lower than last month's bill.  I guess the kids actually turned off the a/c when they weren't using it. lolz
*  The credit card bill was $1003.58 lower in August compared to July. (This doesn't count trip charges on the c/c as those are paid out of monies put away for the trip.)

HERE are the BAD THING

*  The medical bills were $6.40 higher this month over last month's bills.
*  Home insurance was due in August.  Nuff' said. 8-(
*  We had to pay the August health insurance premium of $1577.67(this use to come out of Hubs' paycheck automatically).  We hadn't set up using the health insurance account through his employer yet to pay this bill so it came out of our monthly income.  UPDATE-Papers are filed so we are waiting to receive reimbursement.  Since we paid the last 3 months of healthcare premiums out of our regular income, once the reimbursement check is received these funds will be added back to our "Other Income" category and used toward bills, both regular and irregular.

The Food Budget costs for August are in another post, which is located HERE.

So we end August in the black with $562.41 to apply to the school/property taxes bill in September.

The school taxes bill amounts to $2012.31, so I just have to eek out another $1449.90 from our September annuity income to cover that along with all the regular monthly bills.

As we'll only have $1763.55 of our annuity to live on after paying the school taxes I'll have to pull money from regular savings to cover the healthcare premium of $1771.94 for September.  That bill would have swallowed what was left of our annuity check after paying the school taxes and left us in the hole to the tune of $8.39 AND WE'D STILL HAVE TO PAY ALL OUR REGULAR BILLS FOR SEPTEMBER STILL!
Ugh!!!
Luckily I have regular savings(in our checking account)and I don't have to dip into the online accounts earning a pittance of interest.

Hubs has been taking his time to do the paperwork to get reimbursed for our healthcare premiums from our RMSA account which has been annoying me.  Now that he's FINALLY gotten around to filing, he just told me that it may take two MONTHS for them to reimburse those premium expenses!
This means I'll have to yank another $1700+ out of savings for two more months before we get that money back!
Ugh ugh ugh!
I am so thankful we have saved so much over the last ten years or so out of our regular paychecks so I can not have to worry at nights over this snapfu and know we have enough cash to cover it all.

Enough of my ranting, let's move on.

FINAL THOUGHTS on August---Surprisingly our regular bills in August came in at under $800(not counting the portion of c/c bills for the road of course). But add in the homeowners annual insurance payment, the healthcare premium and a $55 store c/c bill(for clothing for me) and the bills topped $3K. Ugh.

THOUGHTS going forward into September of 2017----
September will be more than tight this year.  There is no way the annuity payment, a bit of interest and the August overage $ will cover all the bills AND the school taxes.
Sigh.
We have always covered any irregular bills with our extra monthly income(as we mostly seemed to live well below our means and had cash to spare each month).

Now that funds are tighter(much tighter until Oct.!)we need a new game plan in regard to those irregular bills.

I'll be setting up a sinking fund to cover these irregular costs for 2018, meaning I'll set aside a specific amount each month in 2018 so that when these irregulars come due I have cash enough in that account to pay them without dipping into regular savings.

There is one more big irregular bill in 2017 coming in November--the semi-annual car insurance premium of approx. $900.  I should be able to cover that with regular income this year but I think I'll begin the Sinking Fund in October of this year anyway and get a jump on the 2018 irregular expenses so we can cash flow all the irregulars in 2018.

The one good thing about September bills will be that all the Road Trip expenses put on the credit card(most were due on August's bill and some due on September's bill)will be paid out of our savings and NOT our September income.  We planned and saved for this trip so it won't impact our regular bills/income.

So how was your August financially?
  

Did you spend less than the income you had in August?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

I hope this year was the one were you cleaned up your finances and paid off your debts.
That you planned to set something aside if you didn't already or increased what you banked now for your future self.
Or paid extra on the principle of your mortgage if your house isn't already paid off.

Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

2017 Savings Challenge......February Update

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various savings pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account.

For 2017 I am continuing my Yearly Savings Challenge.
I have decided to lower the goal amount to save for the year to $35K.
I barely made my $38K goal in 2016, what with our added expenses, so I think it's wise to back down the goal a bit again this year so I am not so stressed through out the year worrying about making the number.

We will have higher medical expenses this year and although the BF doesn't live here anymore the Daughter does still, so some everyday bills will be higher than when it was just Hubs and I(and College Boy here during school breaks).

If I do better than I think I will and save OVER my goal that's great too. 8-)

On to the February report.....

I have posted my Febuary End of Month $35K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $2,9916.66.

I have to report that we finished up February with a surprisingly to me large amount.
The extra amount we ended the month of February with?.......$2200.49

Income

We had $2054.29 left over from our income after our monthly expenses were deducted.

Other monies received in February totaled $146.20.  This was interest made on non-retirement accounts.

This brought us to our gain of $2200.49
Since we have no debt, this all goes into savings, BUT this month I am holding back $500 to put toward March medical bills, so only $1700.49 of that gain will go toward the Savings Challenge for February.

Outgo

As for the expenses this February, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month(Within $1 or so).
*  The water bill was $9.08 lower than last month's bill.
*  The electric bill was $102.77 less than in January.  All this weirdly warm weather has paid off here.
*  Cash withdrawals were the same as last month.  With Hubs still working from home, he doesn't go out much or have much opportunity to spend cash on coffee and such.  Now and again, he gets a sandwich out or takes me to Bob Evans for lunch with this $ but that's about it.

HERE are the BAD THINGS

*  The credit card bill was $798.09 higher in February.  $920.73 of this bill was medical charges.
*  The gas card bill was $69.52 higher than January's bill.
*  There was a Kohl's charge bill of $4.70 after I used a gift card to purchase supportive shoes for Hubs to walk in as he recovers from his injury.
*  We had 1 irregular bills due in February-3 months of garbage disposal service.

The Food Budget costs for February are in another post, which is located HERE.

With 2 months accounted for, our Savings Challenge Grand Total for 2017 is $5700.54.

FINAL THOUGHTS on February---

I knew February would be a bit lackluster since we were still operating with a partial disability pay situation this month.  Plus I needed to hold back some excess income to use in March to put toward medical bills that would arrive then.
Compared to February 2016 we saved $305.08 LESS to put into savings this February. It would have been about the same amount as last February if I didn't reserve that $500 to use in March.

THOUGHTS going forward into March of 2017----

Now that Hubs is back on regular pay rates we should make better progress with our savings goals.
Well except for March being one of our irregular bills/property tax months AND all those medical bills that I expect to arrive this month.

Two months into the year and there is $29,299.46 left to hit our $35K Saving Challenge target for the year.  This averages out to $2,929.95 per month for the next 10 months.

So how was your February financially?
  

Did you spend less than the income you had in February?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

I hope this year was the one were you cleaned up your finances and paid off your debts.
That you planned to set something aside if you didn't already or increased what you banked now for your future self.
Or paid extra on the principle of your mortgage if your house isn't already paid off.

Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

2016 $38K Savings Challenge......October Update

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account.

For 2016 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount to $38,000 this year, $8K more than my goal for last year.

On to the October report.....

I have posted my October End of Month $38K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $3,166.66.

I have to report that we finished up October with a yummy amount.
The extra amount we ended the month of October with?.......$4,449.89

Income

We had $4298.78 left over from our income after our monthly expenses were deducted.

Other monies received in October totaled $151.11.  This was solely interest made on non-retirement accounts.

This brought us to our gain of $4449.89
Since we have no debt, this goes into savings.

Outgo

As for the expenses this October, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month(Within $1 or so).
*  The credit card bill was down $50.77 from September's amount.
*  The water bill was $17.18 less than last month.
*  The electric bill was down $42.90 from September's total.
*  The gas bill was $57.29 lower than last month(more purchases for gas put on the c/c rather than the gas card.)
*  Cash withdrawals were $700 lower(due to using the c/c for most if not all grocery spending + Hubs took less cash in October).

HERE are the BAD THINGS

*  The direct medical spending was up again $190.09 from September's costs plus we still have an $800+ bill not received yet for Daughter's August procedure. gulp
*  We had a $275 non-recurring bill for attending a local Church's auction.  Not really a bad thing as we go each year and bid on local services/goods we would used anyway and pay less than retail for them.  We get a deal, the church gets some funds raised....win/win!  And we did spend $45 less at the auction this year compared to last year.

The Food Budget costs for October are in another post, which is located HERE.

With 10 month accounted for, our Savings Challenge Grand Total for 2016 is $33,247.21.

FINAL THOUGHTS on October---
I was able to tuck away about $1K more than I had projected in October.  Mostly that was due to the car insurance payment moving from October to November, so really, we still have that expense, it just gets dumped into the next month so no gain or loss really.
Medical co-pays were the only category that we spent more in, compared to September(and it was under a $200 increase)so that's good.

Compared to Octoberber 2015 we put $1,972.44 LESS into savings this October.  This can mostly be explained away because of car insurance premiums, $500 more spending on the c/c and medical co-pays of over $800 last October compared to October 2016.
.
We have $33,247.21 saved so far in 2016, and we have only $4,752.71 left to save over the next 2 months at this point to reach our goal of $38K saved.  That averages out to $2,376.40 a month for the rest of the year.  This means for the rest of the year I need to average $790.26 per month LESS than our monthly savings target goal of $3,166.66.  But even with that, this will still be a tight race to get to $38K this year.  We have higher everything bills now with 2 extra adults in the house + more medical co-pays plus can I mention that Christmas is coming!?!?

Only 2 months left in the year to get to my savings goal.  We are quickly running out of time in 2016.


THOUGHTS going forward into November----

Semi-annual car insurance comes due in November.  The electric bill will rise as we will see the heat being turned up in November.  More medical co-pays will be due(including Daughter's $800+ one from August)in November so that will increase outlays this month.  But want based purchases should stay steady/low and we have no trips planned this month which always derails our spending.  We have some "already accounted for in the finances" gift cards/certs for eating out so not much spending on that category for November.  Gas charges will be up as we need to retrieve and return College Boy for the Thanksgiving holiday this month but that expense shouldn't top $50 for gas.

Besides the electric bill and medical payments it should be a fairly regular/low expenditure month for us....if I can keep the food spending down.

However....since I need to keep part of what I save in December out of my Savings Challenge to cover when the High Deductible Medical Plan deductibles kick back in on January 1st(and the cost of the first $3K in medical bills fall on us totally before we see any sort of benefit),
I need to aggressively save more in November than the $2,376.40 I "need" to save in each of the next two months, because in December I probably won't be able to save the other $2,376.40 I need to meet the 2016 Goal.  (Plus there will be increased holiday spending on at least gifts in December.)
So I am getting into Savings Ninja Mode for November.  Or I at least hope to. ;-)

So how was your October financially?
  

Did you spend less than the income you had in October?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

As we go forward into the last half of 2016 why not make this year the one were you clean up your finances and pay off your debts.
Plan to set something aside if you don't already now or increase what you bank now for your future self.
Or pay extra on the principle of your mortgage if your house isn't already paid off.

Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

2016 $38K Savings Challenge.....July Update

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account.

For 2016 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount to $40,000 this year, $10K more than my goal for last year.

I have reconsidered and changed my Goal from $40K to $38K for 2016.  With some things coming down the pike this year I thought it prudent to back up my Goal a couple of thousand.  8-)

On to the July report.....

I have posted my July End of Month $38K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $3,166.66.

I have to report that we finished up July with a less than stellar amount.
The extra amount we ended the month of July with?.......$2889.54

Income

We had $2620.34 left over from our income after our monthly expenses were deducted.

Other monies received in July totaled $269.20.  This included interest made on non-retirement accounts and a blogging check..

This brought us to our gain of $2889.54
Since we have no debt, this goes into savings.

Outgo

As for the expenses this July, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges, electric bill and internet were approximately the same as last month(With $1 or so).
*  The gas card spending was down $53.63 as there was no traveling in the previous month, June(which this invoice covered).
*  The credit card bill was down $1300+ from the previous month's bill.

HERE are the BAD THINGS

*  The cash withdrawals were up $200.  This mainly due to spending more on groceries in July.
*  Water use was up $23.05 from last month.
*  The Electric bill was up $24.08.  Not bad considering more a/c was used in July than June.
*  The direct medical spending was up $233.84 mostly due to paying from of Daughter's copays from visists she had to docs in Louisiana.
*  We had a garbage bill I pay quarterly due in July so another $84 out the window.

The Food Budget costs for July are in another post, which is located HERE..

With 7 month accounted for, our Savings Challenge Grand Total for 2016 is $22,289.04

Final thoughts on July---



Compared to July 2015 we put $1200.02 LESS into savings this July.  This looks really bad on the surface until you realize that July 2015 was a third paycheck month.  Then it's not so hopeless.... ;-)
.
We have $22,289.04 saved so far in 2016, and we have only $15,710.96 left to save over the next 5 months at this point to reach our goal of $38K saved.  That averages out to $3142.19 a month for the rest of the year.  $42 per month less on target than June's average but still essentially on target.

Only 5 months left in the year.


THOUGHTS going forward into August----
August and September are my Bill Armageddon months.(House and car insurance AND property taxes.)
Add in credit card charges from our early August trip to Maine(the c/c bill cuts after we get home...ugh!)which will be paid off by the end of August.
Plus our three paycheck month won't happen until late September this year.
August will not be pretty financially.  8-(

So how was your July financially?
  

Did you spend less than the income you had in July?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

As we go forward into the last half of 2016 why not make this year the one were you clean up your finances and pay off your debts.
Plan to set something aside if you don't already now or increase what you bank now for your future self.
Or pay extra on the principle of your mortgage is your house isn't already paid off.

Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

2016 $38K Savings Challenge.....May Update

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account.

For 2016 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount to $40,000 this year, $10K more than my goal for last year.

I have reconsidered and changed my Goal from $40K to $38K for 2016.  With some things coming down the pike this year I thought it prudent to back up my Goal a couple of thousand.  8-)

On to the May report.....

I have posted my May End of Month $38K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $3,166.66.

I have to report that we finished up May with a less than stellar amount.
The extra amount we ended the month of May with?.......$1,831.49

Income

We had $1666.14 left over from our income after our monthly expenses were deducted.

Other monies received in May totaled $165.35.  This included interest made on non-retirement accounts.

This brought us to our gain of $1831.49
Since we have no debt, this goes into savings.

Outgo

As for the expenses this May, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month.
*  The May electric bill was actually down $82.67 from April's bill.  Less heat means less electricity used and the a/c isn't being used much yet.
*  Water use was down $21.35 from last month.  Hubs didn't spend time flushing the hot water heater in May so that may account for the decrease in that bill.
* The gas card spending was down $65.78 from April.  More gas charges were charged on the Master Card account instead.
*  The direct medical spending was up $16.17 due to my DME company not sending a monthly bill on time.  I am sure they'll figure this out and send it.  Can I say their billing dept. is a disaster? ;-)

HERE are the BAD THINGS

*  The cash withdrawals/spending was up $70 from last month.  I don't quite understand that is wasn't HIGHER since we spent $500 of our cash on our road trip.  I figured it would be more?
*  The credit card bill was up $103.09 from last month.  If you figure extra gas spending was put on this c/c rather than the gas card, the spending here is about what it was in April.  All but 1 hotel stretch(which I prepaid on last month's c/c bill)will be coming in June on THAT bill. bleh.
*  Hubs put the humidifier filter purchase on his Discover card so we had charges on that in May.
*  I am paying the Garbage bill quarterly this year so $84 was due this month.
*  $100 school deposit for the 2016-2017 terms for College Boy was due.
*  We had to pay $300 OOP for our HVAC compressor replacement(labor only).  Hoping to get that reimbursed from the manufacturer as they sent us a bad unit and spending to replace it is their fault.
*  Between a year of house insurance and the title transfer for the LA house we are out $1672.27.

The Food Budget costs for May are in another post, which is located HERE.

With 5 month accounted for, our Savings Challenge Grand Total for 2016 is $17,436.84.

Final thoughts on May---

May turned out to be a very expensive month for us.
No irregular bills due this month but over $2K in irregular/unexpected bills happened in May.
I am glad given our expenses this month we were still able to sock away something into savings.

But compared to May 2015 we put $557.29 less into savings this May. 8-(
It could have been worse I suppose.
.
We have $17,436.84 saved so far in 2016, and we have only $20,563.16 left to save over the next 7 months at this point to reach our goal of $38K saved.  That averages out to $2,937.60 a month for the rest of the year.
In 2015 we put $22,572.01 into savings in those 7 months so it's possible.  With our increased costs looming ahead for the rest of the year, it just might happen.
Stay tuned to find out which way it goes!

THOUGHTS going forward into June----
I don't even want to think about how much June is going to cost!  Trip spending on the c/c due in June is over $2,500 alone.  Then my food budget will probably go bust as we add 2 adults to the household.  Add in that electric and water costs will rise as well due to them.
On the good side of things, there are no irregular bills due in June.  August and September however will see large irregular bill amounts due(house and car insurance and property taxes).

Good things September is our other 3rd paycheck month, huh? 8-)

Darn you "life" for making me spend so much money and not save it all! lolz

So how was your May financially?
  

Did you spend less than the income you had in May?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

As we go forward into 2016 why not make this new year the one were you clean up your finances and pay off your debts.
Plan to set something aside if you don't already now or increase what you bank now for your future self.
Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

2016 $38K Savings Challenge.....January Update

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account.

For 2016 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount to $38,000 this year, $10K more than my goal for last year.

I have reconsidered and changed my Goal from $40K to $38K for 2016.  With some things coming down the pike this year I thought it prudent to back up my Goal a couple of thousand.  8-)

On to the January report.....

I have posted my January End of Month $38K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $3,333.33.

I have to report that we finished up January with a goodly amount leftover but not my target amount.
The extra amount we ended the month of January with?.......$2,462.76

Income

We had $2,192.83 left over from our income after our monthly expenses were deducted.

Other monies received in January totaled $269.93.  This included interest made on non-retirement accounts, a per diem and blogging revenue received that month.

This brought us to our gain of $2462.76
Since we have no debt, this goes into savings.

Outgo

As for the expenses this January, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges, water bill and internet were approximately the same as last month.
*  The electric bill was only up $126.69 from last month's bill.  With electric heat this is an amazing total for heat and lights, etc. for January in northern, mountainous PA. Our lowest January electric bill up til now was $359.28.  We beat that by $35+ this year.
*  The cash withdrawals were down $300 from December's totals.
*  The gas card was down by $37.53 in January.  This will mean higher c/c charges in Jan. as some gas was put on that card instead of the gas card.
*  Medical payments were down $340.12 from last month.

HERE are the BAD THINGS(and the not so bad)
.
*  The credit card bill was up $492.64 from last month.  Some of this is Christmas spending, some medical and some College Boy's books for the semester.
*  There was a Discover bill to pay.
*  There was a Kohl's bill to pay.
*  I paid 3 months of garbage service ahead.  Usually I pay this semi-annually or annually in one big payment sometime in the first half of the year,  but in 2016 I will be making quarterly payments instead.

The Food Budget costs for January are in another post, which is located HERE.

January was a fairly expensive month for us, especially since all medical expenses are paid out of pocket as we haven't met our high deductible for the insurance yet in this calendar year.  This will continue into February.
We also had high credit card usage in late Dec./early Jan. so that bill was a bit more than I had planned.
Even with everything accounted for we did fairly well on our spending in January.

With 1 month accounted for, our Savings Challenge Grand Total for 2016 is $2,462.76.

Final thoughts on January---
Even with increased Holiday spending and medical costs we saved a substantial amount.
And compared to January 2015 we put nearly one thousand more into savings this January.

THOUGHTS going forward into February----

Big irregular bills due this month are car insurance and the medical bills(for once they are NOT mine!lolz but Hubs and Daughter)which will be paid totally out of pocket.  The medical is already at $1600+ for Feb. and Daughter's bills haven't arrived yet.  I think we may max out our HD in Feb. at this rate. 8-(
There is no travel or planned extra spending so far for February so I hope we can stash away at least $1K this month.
Only time will tell though.....

So how was your January financially?
  

Did you spend less than the income you had in January?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

As we go forward into 2016 why not make this new year the one were you clean up your finances and pay off your debts.
Plan to set something aside if you don't already now or increase what you bank now for your future self.
Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

$28K Savings Challenge.....December & Year End UPDATE

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account.

For 2015 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount slightly to $28,000 this year, $4K more than my goal for last year.

On to the December report.....

I have posted my December End of Month $28K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $2,333.33.

I have to report that we finished up December with a goodly amount leftover.
The extra amount we ended the month of December with?.......$3,323.77

Income

We had $2860.71 left over from our income after our monthly expenses were deducted.

Other monies received in December totaled $463.06.  This included interest made on non-retirement accounts, quarterly dividend checks. a per diem and cashing out my SavingStar rebate for the year.

This brought us to our gain of $3323.77
Since we have no debt, this goes into savings.

Outgo

As for the expenses this December, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month.
*  The electric bill was only up $41.46 from last month.  With electric heat this is an amazing total for heat and lights, etc. for December in northern, mountainous PA. We have never had a December electric bill here under $200 before!  Between the record high temperatures and my diligence at turning down/off electrical drawing appliances take the credit for this win.
*  The credit card was down $38.19 from November's bill.

HERE are the BAD THINGS(and the not so bad)
.
*  The water bill was up $13.60 from last month.  The 5 days College Boy was home last month explain this easily. lolz
*  The gas card bill went up $32.58 from last month.  Not so bad as this means Hubs but more gas purchases on the credit card instead this month.  It has to come out of one or the other, right? ;-)
*  Medical payments were up $468.77 from November.  This was due to finally getting the invoice for the first cataract surgery charges.  The eye surgeries are all paid off now, rah!
*  The cash withdrawn was up $600 from November.  Having to take cash on our trip and a little more Holiday spending by Hubs can explain this one.  ;-)
*  There was a Kohl's bill to pay as well as birthday and Christmas monies we paid out to our kids.

The Food Budget costs for December are in another post, which is located HERE .  I stayed under my  December $350 budgeted amount(on this report grocery money comes out of "Cash")on that expense only due to cashing out on my Saving Star Rebates for the year.

December was a fairly expensive month for us, especially since we didn't have a large "regular" irregular bill to pay this month(insurances, taxes, sewer, etc.)  Just an increased electricity bill with having the heat on, a large medical bill total and some extra cash spending and traveling for the Holidays.

The 2015 TOTAL.....
With 12 months accounted for, our Savings Challenge Grand Total for 2015 is $41,775.56.
Except--Since we have our high medical deductible kicking in on Jan. 1st I will only be putting $1,548.21 of what was saved in December into the Savings Challenge.  This will give me an even $40K saved in 2015.
The other $1,775.56 is going to roll over and remain in our checking account to help offset medical charges for the beginning of the year before we satisfy a $3K deductible amount.  It doesn't cover the full deductible figure but it does go a little more than halfway to reaching the HMD.

That full year $40K savings amount averages to $3333.34 a month put into savings for 2015. Some months was much more than that and some months were much less.

We have well surpassed our $28K Savings Goal by $12K+ in 2015.  I am very happy with this final count.

Final thoughts on December---
Even with increased Holiday spending and such we saved a goodly amount this month.

THOUGHTS going forward into 2016----

Even though some of the invoiced medical charges I put money aside for in previous months of 2015 haven't arrived so they can be paid, I have still deducted those bills from our monthly income.  Once they come in(now in 2016)they won't affect our savings/spending monies set aside to be disbursed and we can start the new year with a clean spreadsheet as it were.  ;-)

I will of course continue to save part of our monthly income and bank it-part to spend on those large irregular bills that come in during the year and part to tuck away for additional funds to augment our retirement savings.
Still mulling over how much to make the Savings Goal for 2016.  Perhaps $35K......maybe less.  I need to get out my spreadsheets and study the last few years of spending, the potential income for 2016 vs. potential 2016 bills to see where the spending may land this year.

So how was your December financially?
  

Did you spend less than the income you had in December?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

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

Are you happy with how you managed your money in 2015?  Or do you need to do a better job of juggling all the commitments to your income in 2016?

As we go forward into 2016 why not make this new year the one were you clean up your finances and pay off your debts.
Plan to set something aside if you don't already now or increase what you bank now for your future self.
Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

The Yearly Savings Challenge & How It Has Helped Me Save $

Ok, so I've talked before about how I utilize the Savings Challenge monies I tuck away each year.

I save and save in one year and then, in the following year, if we have any bills/costs not covered by our regular yearly income, we use that previous year's savings to apply toward the following year's costs.  At the end of the following year, anything left in the previous years Savings Challenge gets put into an investment account and becomes "permanent savings".

Basically we use last year's savings as our emergency fund to pay for any current year's costs we can't cover with the current year's regular pay.

I've been doing this since 2009 and it seems to be working out quite well for us.

In 2009 we saved $23,865.36.
In 2010 we spent $13,460.81 of that 2009 money on various expenses(a used car purchase, a new fridge and a couple of vacations).
At the end of 2010 we had $10,404.55 leftover of the 2009 money and it got tucked away to permanent savings.

In 2010 we saved $34,019.88.
In 2011 we spent only $427.81 of that 2010 money toward a quick trip to OC.
At the end 2011 we had $33,592.07 leftover of the 2010 money and it got added to the 2009 "leftovers" for a grand total of $43,996.62 tucked away to permanent savings.

In 2011 we saved $34,461.31.
In 2012 we spent $2,627.16 of that 2011 money toward a used car purchase and 2 mini-vacation trips.
At the end of 2012 we had $31,834.15 leftover of the 2011 money and it got added to the 2009 & 2010 "leftovers" for a grand total of $75,830.77 tucked away to permanent savings.

In 2012 we saved $28,907.08.
In 2013 we spent 23,611.66 of that 2012 money toward a rebuilt car engine, home renovations/repairs and supplies, a road trip to the Midwest and a new/replacement HVAC system for our house(the last item accounted for about half of all that spending).
At the end of 2013 we had $5,295.42 leftover of the 2012 money and it got added to the 2009-2011 "leftovers" for a grand total of $81,126.19 tucked away to permanent savings.

In 2013 we saved $24,033.60.
In 2014 we spent ZERO of that 2013 money.  Up until 2014 any bonuses Hubs received at work were directly dumped into our kid's college funds account.  The 2013 Bonus was when we finished funding the college account, so we could apply the 2014 Bonus toward expenses we couldn't cover with the regular income in 2014.  This meant the 2013 Savings Challenge monies didn't have to be touched as long as the 2014 Bonus could cover any out of the ordinary expenses that year.
At the end of 2014 we had the whole $24,033.60 leftover of the 2013 money and it got added to the 2009-2012 "leftovers" for a grand total of $105,159.79 tucked away to permanent savings.

In 2014 we saved $46, 193.93(a chunk of which was leftover Bonus money we didn't spend in 2014 since we had finished funding the college account).

Hubs got a Bonus this year and after buying a new used car we still have approx. $14K left to cover a bathroom redo in 2015.  If we don't need to touch the 2014 savings in 2015, at the end of 2015 we could have tucked away to permanent savings(when added to the 2009-2013 "leftovers") an incredible $151,353.72.

If we keep trending along this path, by the time Hubs retires in 2+ years(and if he receives a Bonus in the next 2 years similar to what he received in 2015)we could have an additional  $211K saved for retirement in addition to everything we have been putting away all these years into the actual retirement accounts.

If you had asked me when I started this scheme in 2009 if I'd be able to save this kind of cash I would have laughed in your face.

This just proves that by putting small amounts of money away, over time, you can achieve a financial goal.
I know many are not in the position to save tens of thousands of cash a year but you CAN save something no matter how much your income is a year.
The point is to JUST START TODAY!

Put away something every month.
Don't live TO your means, live a bit BELOW your means.
Save what you can and on a regular basis, every month.

Sluggy

$28K Savings Challenge.....March Update

Every year I keep a close eye on our monthly expenses and our monthly income.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings or these other categories.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into an interest bearing Savings Challenge account. 

For 2015 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount slightly to $28,000 this year, $4K more than my goal for last year.

On to the March report.....

I have posted my March End of Month $28K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $2,333.33.

I have to report that we finished up March with a good amount saved.
The extra amount we ended the month of  March with?.......$3,797.12

Income

We had $2,296.14 left over from our income after our monthly expenses were deducted.
 

Other monies received in March totaled $1,500.98.  This included interest made on non-retirement accounts, dividend checks from stocks held plus a partial refund on the money we paid out for our daughter's wisdom teeth surgery.  Also included is the 2014 Tax Refund we received.

This brought us to our gain of $3,797.12.
Since we have no debt, this goes into savings.

Outgo

As for the expenses this March, here are the good and the bad side of things....

HERE are the GOOD THINGS

 

*  Phone charges, internet and  were approximately the same as last month.
*  Water bill went down $2.04 from February's bill.
*  Credit Card bill went down $283.70 from February's bill. 
*  Gas charge card went down $37.66 from February's bill.
 

HERE are the BAD THINGS
.
*  Cash withdrawals went up $130.48 from February's withdrawals.
*  The electric bill was up $22.24 over Febuary's bill due to more heating.  Actually maybe this should be under GOOD Things since only using $22.24 more in energy in the middle of Winter is a "win".  This new efficient heating system is killing it! in terms of lowering our electricity usage.

*  We had a LOT of irregular spending too in March--we paid the sewage bill for the entire year in one chunk, additional tax was owned to the State, there were 2 small charges on store credit cards which were paid in full, and the local property taxes which was by far the largest amount paid out.I
In all there was $1809.34 in irregular bill spending this month.
 

The Food Budget costs for March are in another post, which is located HERE.  I actually came in under budget on food/toiletries for March.
 

The 2015 TOTAL.....
With 3 months accounted for, our Savings Challenge Grand Total for 2015 is $8,695.38.
That averages $2800+ a month so far and is about $500 more than we need to put away every month to reach the $28K goal for the year.

THOUGHTS going forward into April----

Irregular bills coming in April.... The only non-regular bill may be 2 dental bills as Hubs and I went to the dentist in Feb. and March so I am figuring at least one of those bills will come in during April.
There will be a cataract surgery bill(if I go with an upgrade)and we may have to foot that one instead of taking it out of the HSA fund as it's quite low after paying all those high deductibles for the year recently.

We will also be receiving an insurance bill in April for the "new- used" car we just bought.
If all the "regular" bills stay about the same as they were in March, those should amount to $1800.
Add in about $450 for the new car insurance charges and $300 or so for the dental bills and our nut in April will run about $2,500(not counting any cataract surgery costs).  April is a 3 paycheck month for us so next month's amount saved should be awesome!


With 3 months behind us we have $8,695.38 down and $19,304.62 left to save in 20015.  That breaks down into $2,144.96 per month for the next 9 months of the year. I think we can easily do this number each month.
 

 

So how was your March financially?
  

Did you spend less than the income you had in March?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings in an emergency fund or a retirement account?
Or did you blow it on something you wanted?
 

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

Sluggy

$24K Savings Challenge.......October Update

Every year I keep a close eye on our monthly expenses and our monthly income.
Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into a Savings Challenge. 

For 2014 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount slightly to $24,000 this year, $4K more than my goal for last year.

On to the October report.....

I have posted my October End of Month $24K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $2,000.

I have to report that we finished up October with a really large chunk of change.
The extra amount we ended the month of  October with?.......$6,451.86.

Income

We had $6019.72 left over from our income after our monthly expenses were deducted.
This large amount was mostly due to a third paycheck in October.
 

Other monies received in October totaled $432.14.  This included interest made on non-retirement accounts, a refund on our car insurance and a Conference dinner.

This brought us to our gain of $6,451.86.
Since we have no debt, this goes into savings.

Outgo

As for the expenses this October, here are the good and the bad side of things....

HERE are the GOOD THINGS

 

*  The water bill went down another $5.10 from September.
*  Cable and phone charges were approx. the same as last month.
 

HERE are the BAD THINGS

 

*  Car insurance due on my car.
*  The quarterly garbage bill was due.
*  Dental bill due.
*  The credit card bill(paid off each month)was up $295 from last month due to our family reunions trip and the OC mini-vacay.
*  Electric bill was up $24.44 because the heat got turned on.
 

 

The Food Budget costs for October are in another post, which is located HERE.
 

The 2014 GRAND TOTAL.....
With 10 months accounted for, our Savings Grand Total for 2014 is $23,475.69.
 

Only $524.31 Total left to meet the yearly goal and 2 months left to dig this up out of our income.
That comes out to an average of $262.16 for each of the next 2 months. 
As our Nov. and Dec. overages average about $1000 each month I don't think we'll have any trouble finding a spare $524.31 ;-)

I will be curious to see how much we have leftover for the last 2 months of the year above and beyond the $524.31 we need to reach our goal of $24K.
  

 

Looking ahead for November......

*  I will continue to do this Savings Challenge and report in each month on how it is going.

*  We have no irregular bills due in November.

*  We have 2 trips to #2 Son's school to get/return him for Thanksgiving break so gas(thus the c/c bill)will be higher in November.

 

So how was your October financially?
  

Did you spend less than the income you had in October?
Did you stay within your budget or not?
Did you pay off any debts or put extra toward your mortgage principle or into savings in an emergency fund or a retirement account?

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

Sluggy

$24K Savings Challenge......September Update

Every year I keep a close eye on our monthly expenses and our monthly income.
Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, health insurance premiums, long term care insurance premiums, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings.

Once the automatic savings amounts, plus taxes and medical/dental/vision premiums are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, annual etc.) and our variable bills(like food, eating out, clothing  etc.)  Anything left over once our monthly expenses are paid, I put aside into a Savings Challenge. 

For 2014 I am continuing my Yearly Savings Challenge.  I am raising the Goal amount slightly to $24,000 this year, $4K more than my goal for last year.

On to the September report.....

I have posted my September End of Month $24K $AVING$ CHALLENGE Totals.
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

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 $2,000.

I have to report that we finished up September with a good chunk of change.
The extra amount we ended the month of  September with?.......$2606.55.

Income

We had $2200.26 left over from our income after our monthly expenses were deducted.
 

Other monies received in September totaled $406.29.  This included interest made on non-retirement accounts, a per diem, 2 dividends and a refund on our car insurance after getting rid of the car early in September(the car insurance refund for the minivan will probably arrive sometime in October).

This brought us to our gain of $2,606.55.
Since we have no debt, this goes into savings.

Outgo

As for the expenses this September, here are the good and the bad side of things....

HERE are the GOOD THINGS

 

*  The water bill went down by $20.43 from August.
*  Cash spent went down by $170 from August.
*  The electric bill went down by $60.89 from August.
*  Cable and phone charges were approx. the same as last month.
*  The credit card bill(paid off in full each month) was low for us(under $1K).
 

HERE are the BAD THINGS

 

*  The school taxes(part of the property taxes)were due.
*  The quarterly garbage bill was due.

Clearly the Good outweighed the Bad this month.  Having all the kids out of the house helped our bottom line.

 

The Food Budget costs for September are in another post, which is located HERE.
 

The 2014 GRAND TOTAL.....
With 9 months accounted for, our Savings Grand Total for 2014 is $17,023.83.

Our monthly average is $1,891.53 saved at this point in the year.
 

Only $6,976.17 Total left to meet the yearly goal and 3 months left to dig this up out of our income.
That comes out to an average of $2,325.39 for each of the next 3 months. 

Since I shoot for $2K savings per month and there are only 3 months left, we are $976.17 behind the eight ball, as we should have a full $18,000 saved to this point.  Not quite on schedule but REAL close!
October is our 2nd 2 paycheck month for 2014 so unless something runs off the tracks totally, we should be able to eek out enough savings in October to get a bit ahead of schedule.
  

 

Looking ahead for October......

*  I will continue to do this Savings Challenge and report in each month on how it is going.

*  We have no irregular bills due in October.

*  We will have our Reunion trip c/c bills due in October.  They came to $593.19. The current c/c bill is at $1189.91 and unless Hubs puts more gas charges on the c/c that will be the total owed since the bill closes in 4 days time from now.
 We will also incur more traveling bills this month but they won't be due until November's c/c bill(outside of the one night the hotel has already charged our card).

 

So how was your September financially?
  

Did you spend less than the income you had in September?
Did you stay within your budget or not?
Did you pay off any debts or put extra toward your mortgage principle or into savings in an emergency fund or a retirement account?

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

Sluggy