How I did on my budget in January
January has just ended.
So now, it’s time to share with you how I did on my budget in January.
Here’s a link to the budget I created:
Here’s how I did on the income:
- I earned $9 more than I expected ($1741 vs. $1732). Tax tables were revised at the middle of the month (due to the new tax cuts the government passed).
Here are my expense wins for the month:
- I spent $16 less than expected on groceries ($84 vs. $100).
- I spent $158 less than expected on car expenses ($42 vs. $200). The remainder will go to a car expense sinking fund.
- I spent $20 less than expected on pet expenses ($20 vs. $40). The remainder will go to a pet expense sinking fund.
- I spent $10 less than expected on personal expenses ($90 vs. $100).
- I did not spend anything on home office expenses.
- I did not spend anything on household needs.
Here is my only loss for the month:
- I spent $43 more than I expected for Utilities ($243 vs. $200). I took money out of my emergency fund.
I had $230 left over in my budget. I will share with you what I did what money in a later post.
Overall, I did better than last month.
I didn’t have holiday expenses to deal with.
I also learned to be more cautious with money (compared to December).
Here’s what I have in my sinking funds I created:
- $510 in Car Expenses
- $189 in Pet Expenses
- $145 in Car Insurance
- $41 in Emergency Fund 2
- $42 in a Christmas Fund
- $22 in Pest Control Fund
Please let me know what you think and how I can do better on my budget.
Thank You and Have A Great Day,