Woo Hoo! We did very, very well with our May progress along our financial journey.
Not every spending category was a complete success, but we cut back in other areas to make up for those that required a little more. We came in under budget overall. The biggest over-budget area (about $50) was for Scouting, because DS#2 needed some items for his job as a camp counselor this year (those items are Scout-specific, and he will use them after the summer). But our gardening spending was well below budget because of a deferred tune-up on the mower (which rolls over to June). It all worked out.
Monies were transferred to our new local savings account, bringing our total in just a month and a half to more than the highest balance last year in our previous emergency mutual fund elsewhere. It really does make a difference when it is easy to transfer the funds, and when the incentive is there for interest earnings. Sure, it’s not buckets, but the rate is much better than “elsewhere.” Some of the funds have been earmarked for upcoming dental work, property taxes, and more home repairs. It’s good to see that account grow regularly.
Our giving was higher in May, because there was a third paycheck in May (because of every two weeks pay periods). Taxes also increased relative to that. Personal expenses stayed pretty much the same, otherwise, and we budgeted accordingly. Thus the savings transfer.
We did make a deposit on some services, which we cancelled, but not before that check was cashed. So we’re in the process of requesting it back. For budget purposes, it was recategorized under miscellaneous after the cancellation. If we don’t get it back, we’ve learned our lesson, and have still come in under budget.
But let’s hope I don’t have to unleash the flying monkeys, because I could very easily do so.
Our June budget is unusual for us. #2 will be here sporadically, and I’m trying to use up what’s in the freezer in advance of our vacation, so the grocery budget is very low. We have a window to replace, and items to get for said vacation. And I will be sending another care package overseas. Other than that, the budgets are very bare-bones.
So HOORAY for budget success!
What’s your latest budget victory?