December 4

How I Did On My Budget in November

Hey everyone,

As we all know, November ended last week.

So now, it’s time to share with you how I did on my budget in November.

I worked on this over the Thanksgiving holiday.

Here’s a link to the budget I created:

https://docs.google.com/spreadsheets/d/144VntwkB1WOnv251stVQPdJyFCzVfDEi98CcA4gaRTQ/edit?usp=sharing

Here’s how I did on the income:

  • I earned what I budgeted ($1732).

Here are my expense wins for the month:

  • I spent $68 less than expected on car expenses ($132 vs. $200).
  • I spent $54 less than expected on my cat ($6 vs. $54).
  • I spent $47 less than expected on personal expenses ($103 vs. $150).

Here is where I can do better on my budget:

  • Even though I was $13 below expected on utilities, I have to do a better job in that category.
  • I have to find better deals when eating out and grocery shopping.
  • I have to be more careful when spending money on household needs.

The only pitfall in my budget was…

  • That I had to take $110 out of my going back to college fund to cover the health insurance expenses I had to pay for January 2018. But it’s better than taking it out of my $1,000 emergency fund.

Overall, I did okay on my budget.

There are places I can improve on.

But, I’ve learned to become more responsible with money and be better prepared for upcoming emergencies through doing a budget.

Here’s what I have in my sinking funds I created:

  • $75 in Utilities
  • $208 in Car Expenses
  • $114 in Pet Expenses
  • $290 in the Back to College Fund
  • $87 in Car Insurance

Please let me know what you think and how I can do better on my budget.

Thank You and Have A Great Day,

Millennial Buddy

November 15

How I Plan on Saving Money on Christmas This Year

Hey everyone,

As we all know, it’s time to start to shopping for Christmas stuff (if you celebrate that holiday).

However, Christmas presents can put a dent in anyone’s bank account (if they are not careful).

This leads to the next question.

How will I save money on Christmas without going broke or in credit card debt?

  • Using money out of a sinking fund I set up a few months ago for Christmas gifts.
  • Giving major gifts only to very important people in my life (e.g. family members).
  • Making bags of treats for other important people in my life (e.g. church family members).
  • Setting a limit on how much I can spend on gifts for each person.
  • Using money I have saved up in my automobile sinking fund for gas needed to travel.
  • Using money I have budgeted in my giving category to buy food for needy families this Christmas.
  • Using cards and decorations I bought over the past several years.
  • Creating food that isn’t expensive for get togethers.

After Christmas, I will share with you all how I did for Christmas this year.

Please share with me any ideas you have on how I can save money for Christmas.

Thank You and Have A Great Week,

Millennial Buddy

November 7

My Experience Shopping For Health Insurance For 2018

DISCLAIMER: I am not afilliated with Healthcare.gov nor the plans they offer. I am not being compensated for this post. I’m sharing my experience shopping for health care for 2018.

Hey everyone,

As many of you all know, it’s time to enroll in health insurance for 2018.

I did so on the first day it was available (November 1st).

I needed health insurance (to have it in case I need to see a doctor and to avoid tax penalties).

I also needed dental insurance (I have to have a tooth fixed at the beginning of the year).

So, I went to Healthcare.gov to see what they had to offer.

They only had one provider in my area.

I decided to go with that provider because not a lot of insurance companies were going to provide insurance in my area (and the insurance works with the doctors I go to).

I went with a Silver Plan where I’m paying $80 a month for health insurance.

I could have gotten free insurance from the lower tiered plans but it wouldn’t have helped me financially if I needed to go to the doctor.

Here’s what the plan offered:

  • $1,000 deductible
  • $2,450 out-of-pocket maximum
  • 20% co-insurance after deductible for ER visits
  • $10 generic drugs
  • $20 primary doctor visits
  • $40 specialist doctor visits

I also got dental insurance for $20.

Here’s what that plan offered:

  • $50 deductible
  • $350 out of pocket maximum
  • No charge for routine dental care
  • 20% co-insurance after deductible for basic dental care
  • 50% co-insurance after deductible for major dental care

So, I will be paying $100 a month for health and dental insurance next year.

I have to incorporate that into my budget.

I’m happy with the cost because it will save me thousands of dollars in the long run.

It’s worth investing my money in my health (so I can live longer to be a productive member of society).

My advice is to get health insurance now before the rates start going up.

Please share with me any ideas on health insurance or your experience getting it for next year.

Thank You and Have A Great Day,

Millennial Buddy

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November 1

How did I do on my budget for October?

Hey everyone,

The beginning of November has arrived.

It means the beginning of planning for the upcoming holiday season and Thanksgiving in a few weeks.

However, I am going to go back into last month by sharing with you how I did on my budget last month.

Here’s a link for the completed budget for October for you to look at:

https://docs.google.com/spreadsheets/d/144VntwkB1WOnv251stVQPdJyFCzVfDEi98CcA4gaRTQ/edit?usp=sharing

Let’s start with the income.

I earned what I budgeted for the month ($1732).

Here are my expense wins for the month:

  • I spent $10 less than budgeted for groceries
  • I lowered my budget for utilities by $50 ($150 vs. $200. I did an average and realized that the average was less than I thought).
  • I spent less than I budgeted for utilities ($88 vs. $150). That money will go to a sinking fund for winter utilities (the bills are higher in the winter).
  • I spent less than I budgeted for automobile expenses ($60 vs $200). That money will go to a different sinking fund (will be good for when I need the money for repairs or maintenance on the car).
  • I spent nothing on my cat this month ($60 per month). The money budgeted will go to a savings account for when I need to take my cat to the vet or buy flea drops.
  • I spent only $10 on personal needs.

Here are my expense fails for the month:

  • I spent $20 more than budgeted on eating out. I always eat out with people from church on Sundays after church. There was an extra Sunday in the month I didn’t anticipate. I will do a better job being prepared for that in the future.
  • I didn’t cancel my Amazon Kindle membership in a timely manner. There went $10 I didn’t expect to spend.
  • I had a dentist visit where I had to put $97 back into my emergency fund (to keep it at a $1,000)

Because of my expense fails, I only saved $23 this month.

I am little bit disappointed. I thought I was saving more. At least I can be better prepared for upcoming expenses that could come up.

I will learn as I continue on budgeting.

What do I plan to do with the $23?

I’m not 100% sure yet.

Please share with me any tips or ideas on my budget.

Thank You and Have A Great Day,

Millennial Buddy

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October 24

My Budget For The Rest of The Year

Hey everyone,

I mentioned yesterday that I was going to make a budget.

Check out yesterday’s post:

My Financial Goals

I mentioned that I wanted to get back on a budget to keep myself financially organized.

It will help me keep track of what is going in and out each month.

This weekend, I created a budget that will help me get through the rest of this year.

Here is a link to the spreadsheet I created:

https://docs.google.com/spreadsheets/d/144VntwkB1WOnv251stVQPdJyFCzVfDEi98CcA4gaRTQ/edit?usp=sharing

How did I come up with the numbers for the budget?

  • For the income, I got that total by multiplying my net check amount by 4. I get paid weekly and get the same amount each week (because I get paid on salary, not by the hour).
  • For the expenses, I added up what I spent on each expense for the past 6 months and divided by 6 to get an average number. I rounded the average number to the nearest dollar. If I have money left over on certain expenses (e.g. Utilities), I plan on putting the left over money into a sinking fund (and save that money when I need it for that certain expense).

At the beginning of each month, I will report how I did on my budget for the previous month.

If you have any ideas on budgeting, please let me know

Share with your friends if you liked this post.

Thank You and God Bless You,

Millennial Buddy

 

 

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October 23

My Financial Goals

Hey everyone,

I mentioned before that I wanted to do a better job managing my money.

Check out the post regarding that:

https://www.millennialbuddy.com/2017/10/16/goals-for-my-life/

I feel like I’m living paycheck to paycheck.

It seems like the money I get disappears before my eyes.

I have tried managing my money in the past and didn’t stick with it.

To stay on track with managing my money, I have decided to create some goals.

Here they are:

  • Get on a budget and stay on it.
  • Put leftover money on certain expenses into sinking funds (so I can have it when I need it).
  • Save up to go back to college (and get some more education for the job I’m at currently).
  • Have money to do home repairs I want to do.
  • Save up for a new car.

Tomorrow, I will share with you a budget I have created (and see what you think about it).

Share with me your financial goals (or what you think about my financial goals).

Thank You and Have A Nice Day,

Millennial Buddy

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