first month tracking/budget completed!

iVillage Member
Registered: 06-16-2004
first month tracking/budget completed!
1
Fri, 03-04-2005 - 11:43am

February was the first month that I tracked our spending and followed my budget!

Boy did I learn a lot. With tracking our spending even for just one month, I learned that I have too much money allocated for gas to my Highlander and not enough to the Acura. I also learned that we spend WAY TOO MUCH on groceries. I set my budget for $200 for the month and I came in at $346 (It's only the 2 of us!). Granted we did have a dinner party, but I didn't even grocery shop the last 2 weeks of the month. This is a huge area I can cut from. I do plan on price shopping and cutting coupons when I am out of work. I also learned that I need to add a couple more categories. I had a dining budget, but I did not have an entertainment budget. I added a column for house hold items such as cleaners, TP etc. This way my grocery # would not be too inflated.

I think it was very successful. I also think it puts things in black and white on what we have to spend and what we do spend. I did a budget for all of 2005 so I could adjust things such as vacations, gifts, co-pays, Rx's, monthly.

I am really proud of myself!
Nicola
EDD 6/3/05
It's a boy!

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Avatar for mexigurl10
iVillage Member
Registered: 04-10-2003
Fri, 03-04-2005 - 12:36pm

Did you do this on a spreadsheet?
Do you mind sharing it? I am trying to find a spreadsheet already made
with formulas.. If this is what you are using can you send it to me without
your numbers.. ?

dora216@netscape.net

Dora <br> Rolando 6/16/06 .. born at 41 weeks<br> Ruben 12/4/08 .. born at 29 weeks