I updated my sidebars yesterday. Man, did my budgets get creamed during April. I overspent on groceries (by $25) and my dining out budget (by $12). I also had to withdraw $1950 from my downpayment fund in order to pay for the last month's rent on my apartment for September and my half of the realtor's fee. Now I'm back down to 53% of my goal on my downpayment savings. Ouch.
On the plus side, I received my tax refunds (~$500) and a $500 bonus at work (which ended up being about $300 after taxes). I was able to contribute an $300 to my emergency fund, and an extra $250 to my downpayment fund. I also maxed out my fun fund.
Since I'm going to be back to paying rent as of September, I'm changing the way I save for the next four months. Instead of dividing my savings among my emergency, downpayment, and Roth 2010 funds, I'm going to put it all into my emergency fund until it's maxed out. If I do this, I'll have that maxed sometime in July. I think this is the best move, and will make me feel a lot more secure in September when my monthly expenses skyrocket with the additions of rent and utilities, and I'm not able to save as much money each month.
Showing posts with label budgeting. Show all posts
Showing posts with label budgeting. Show all posts
Friday, May 1, 2009
Wednesday, April 22, 2009
Got an Apartment
Well, that was quick. Or at least it probably seems that way, since I just blogged about this last week, but after a lot of searching, C and I have found a place we both liked and we're going to sign a lease this week. We'll be renting a 1-bedroom apartment about a mile down the road from where I am now. It's right on the subway, around the block from a large grocery store, and has a park nearby, too. Our rent will be $1550/month, plus electric and possibly gas (I can't remember if there's a gas stove or not), and cable/internet if we go for that. We're also going to be renting a parking spot that comes with the apartment, which neither of us needs, in order to make an extra $25-50 a month by renting it out at a slight markup to another tenant. Many of the tenants apparently need more than one parking space, so this is common practice in the building. And since parking on the street overnight is illegal here (seriously!), it shouldn't be hard to find someone to take the spot off our hands and knock $25-50 off our rent per month.
We had hoped to find a place with a bit more space (ideally, a 2-bedroom), but after looking at many, many apartments we realized that we probably weren't going to get a (clean) 2-bedroom in our price range/rent cycle, so we settled on a larger 1-bedroom. The apartment has a ton of closet space and a much bigger kitchen than I've ever had, so I'm quite excited about that. :)
When we go in to sign our lease, I plan to ask about subletting. In the off chance that I find a place to purchase before our lease is up next September, I'd like to know what my options are. I had to break my lease to move into this rent-free apartment last year, and I definitely don't want to become a serial lease-breaker. I'll also need to completely re-work my budget, since I won't have as much money to put towards my student loans or save. I need to figure out whether savings or paying down my loans is a priority. It's a tough call. If I keep possible homeownership in mind, it's even tougher; do I want to put a larger downpayment down (of course), or do I want to have less debt to my name when I eventually make that purchase? I'll probably go with savings, and drastically reduce what I pay towards my loans each month. Or, I might alternate and make a large savings deposit one month, and then a large student loan payment the next. Over the next few weeks, I'll be doing a lot of thinking about this.
We had hoped to find a place with a bit more space (ideally, a 2-bedroom), but after looking at many, many apartments we realized that we probably weren't going to get a (clean) 2-bedroom in our price range/rent cycle, so we settled on a larger 1-bedroom. The apartment has a ton of closet space and a much bigger kitchen than I've ever had, so I'm quite excited about that. :)
When we go in to sign our lease, I plan to ask about subletting. In the off chance that I find a place to purchase before our lease is up next September, I'd like to know what my options are. I had to break my lease to move into this rent-free apartment last year, and I definitely don't want to become a serial lease-breaker. I'll also need to completely re-work my budget, since I won't have as much money to put towards my student loans or save. I need to figure out whether savings or paying down my loans is a priority. It's a tough call. If I keep possible homeownership in mind, it's even tougher; do I want to put a larger downpayment down (of course), or do I want to have less debt to my name when I eventually make that purchase? I'll probably go with savings, and drastically reduce what I pay towards my loans each month. Or, I might alternate and make a large savings deposit one month, and then a large student loan payment the next. Over the next few weeks, I'll be doing a lot of thinking about this.
Sunday, February 8, 2009
This Weekend: Baby Shower & a Busted Shoe
This weekend I went to my parents' house on Friday night after work, then to New York for my cousin's baby shower on Saturday; it's amazing to think that the next time I see her, she'll have a sweet little baby boy in tow. I can't wait! I did spend a little more on the gift than I'd budgeted (about $15 more), but that's okay. C and I don't really exchange Valentine's Day gifts, so I'm not anticipating taking any more money out of my fun fund this month.
The shower was nice, and it was fun to spend time with the extended family. The day was pretty exhausting, though, since my mom and I left her house pretty early in the morning to drive there, and I didn't get to sleep until almost 1. Staying up late is a challenge for me even on a Saturday night, but it was definitely worth it to stay up talking to my cousin and her husband, and watching several episodes of It's Always Sunny in Philadelphia, one of quite a few shows they've gotten me into over the years.
On the way home today, mom and I stopped at the outlets. Knowing that we'll be doing quite a bit of outlet shopping in Florida later this month, we had no plans to even enter any of the stores we walked by in our search for the bathroom. However, as I exited the restroom, I noticed that my shoe's heel was loose.
Uh oh.
My shoe collection is pretty basic, when it comes to work-appropriate footwear: one pair of black pointed-toe heels, one pair of brown heels, and a few cheap pairs of ballet flats. That's it. I don't really do the whole shoe-crazy girl thing. I bought this particular pair of black shoes by Nine West at Marshall's in the spring of 2007, and they have served me well, but I think it might be time to replace them. Mom & I stopped in the Kenneth Cole Reaction store briefly on our way out, since I've always had good luck with their shoes, but the prices were insane. A pair of shoes I'd almost purchased in Florida last February (they didn't have my size or I would've bought them) was double the price they'd been a year ago. What on earth kind of business model is that - wait until there's a recession, then double your prices? Because we all have so much disposable income right now?? They had my size, too, but there was no way I was shelling out $80 for these shoes. Maybe I can pick them up in Florida for the "old" price. Weird.
The shower was nice, and it was fun to spend time with the extended family. The day was pretty exhausting, though, since my mom and I left her house pretty early in the morning to drive there, and I didn't get to sleep until almost 1. Staying up late is a challenge for me even on a Saturday night, but it was definitely worth it to stay up talking to my cousin and her husband, and watching several episodes of It's Always Sunny in Philadelphia, one of quite a few shows they've gotten me into over the years.
On the way home today, mom and I stopped at the outlets. Knowing that we'll be doing quite a bit of outlet shopping in Florida later this month, we had no plans to even enter any of the stores we walked by in our search for the bathroom. However, as I exited the restroom, I noticed that my shoe's heel was loose.
Uh oh.
My shoe collection is pretty basic, when it comes to work-appropriate footwear: one pair of black pointed-toe heels, one pair of brown heels, and a few cheap pairs of ballet flats. That's it. I don't really do the whole shoe-crazy girl thing. I bought this particular pair of black shoes by Nine West at Marshall's in the spring of 2007, and they have served me well, but I think it might be time to replace them. Mom & I stopped in the Kenneth Cole Reaction store briefly on our way out, since I've always had good luck with their shoes, but the prices were insane. A pair of shoes I'd almost purchased in Florida last February (they didn't have my size or I would've bought them) was double the price they'd been a year ago. What on earth kind of business model is that - wait until there's a recession, then double your prices? Because we all have so much disposable income right now?? They had my size, too, but there was no way I was shelling out $80 for these shoes. Maybe I can pick them up in Florida for the "old" price. Weird.
Friday, January 30, 2009
Budgeting Savings with an Irregular Part-time Schedule
February is right around the corner, and I'm trying to figure out how much money I can save next month. Each month, I aspire to put $400 into both my downpayment fund and emergency fund, and $200 into my fun fund. However, February is a bit irregular. I normally work 4 shifts at the inn per month (one each Sunday), making about $350 gross, before bonuses. We haven't received bonuses for the past couple of months; because of the economic crisis, our business has been slower than usual so we're not meeting our sales/occupancy goals. When we do get bonuses, I usually gross about $450 - $500 per month at the inn.
In February, I'm taking two weekends off from the inn: next weekend, I'm going to a baby shower in NY (and I still need to get a gift, ugh!); the last weekend of the month, I'll be in Florida. But, I'm going to be covering at least 2 shifts, so I'll actually be working 4.5 shifts. In March, I'm currently scheduled for 3 shifts, but it's quite likely I'll pick up at least one during that month.
Not knowing for sure how much I'm pulling in from my part-time job makes it hard to figure out whether I can meet my savings goals. Sometimes I'm plesantly surprised, like this month. I grossed $1,025 at my part-time job in January, and that was without bonuses...! Obviously I'm not going to do that every month. For one thing, it's exhausting -- several of those shifts were "after work" shifts where I come in from 5-10 after working all day at my full-time job. Also, January was one of the two months of the year where I receive three paychecks from the inn (the next one is July).
In January, I netted over $2,700 between both jobs. Despite my super income this month, I wasn't able to meet my savings goals; I had to pay C back for our plane tickets to Florida, and pay off my credit card for the Christmas/birthday gifts I bought last month. I saved $300 for my downpayment and emergency funds, and $175 in my fun fund; I also put an extra $50 towards my federal student loan, and will be doing that next month as well. I'm hoping to make up the extra savings money next month, and to keep my clothing spending at $0, with the exception of any outlet shopping trips in Florida. I just have to stop going into clothing stores, and delete all of these amazing sale emails I receive every day and I'll be fine. ;P
In February, I'm taking two weekends off from the inn: next weekend, I'm going to a baby shower in NY (and I still need to get a gift, ugh!); the last weekend of the month, I'll be in Florida. But, I'm going to be covering at least 2 shifts, so I'll actually be working 4.5 shifts. In March, I'm currently scheduled for 3 shifts, but it's quite likely I'll pick up at least one during that month.
Not knowing for sure how much I'm pulling in from my part-time job makes it hard to figure out whether I can meet my savings goals. Sometimes I'm plesantly surprised, like this month. I grossed $1,025 at my part-time job in January, and that was without bonuses...! Obviously I'm not going to do that every month. For one thing, it's exhausting -- several of those shifts were "after work" shifts where I come in from 5-10 after working all day at my full-time job. Also, January was one of the two months of the year where I receive three paychecks from the inn (the next one is July).
In January, I netted over $2,700 between both jobs. Despite my super income this month, I wasn't able to meet my savings goals; I had to pay C back for our plane tickets to Florida, and pay off my credit card for the Christmas/birthday gifts I bought last month. I saved $300 for my downpayment and emergency funds, and $175 in my fun fund; I also put an extra $50 towards my federal student loan, and will be doing that next month as well. I'm hoping to make up the extra savings money next month, and to keep my clothing spending at $0, with the exception of any outlet shopping trips in Florida. I just have to stop going into clothing stores, and delete all of these amazing sale emails I receive every day and I'll be fine. ;P
Tuesday, January 6, 2009
It's about time, Mint!
When I heard about Mint late in 2007, I eagerly signed up right away. I'd been using Quicken on my old laptop, but when my laptop abruptly stopped working, I was looking for a new way to manage my budget and spending. Mint sounded ideal because it links to your accounts and automatically tracks your spending without you having to go in and manually enter all of your transactions.
I successfully added my accounts to Mint, with one exception: Citizens Bank. Though I've moved to ING for my savings accounts and CDs, I still use Citizens for my checking and do most of my spending with my debit card. Without support for Citizens, Mint was pretty useless to me. I signed in every couple of months, hoping Citizens would work, but it never did. I logged into Mint a couple of days ago to check things out, and I was thrilled to see that Citizens Bank is now functional...finally! I excitedly spent the better part of an hour going through my spending for the past couple of months, tagging and untagging transactions (yes, I am a total nerd.) I still haven't figured out the best way to log deposits into my ING savings accounts (both Citizens and ING log these, and it doesn't end up making sense), but I'll get it eventually.
Mint is almost perfect now, except for the Investments tool -- it's still way off in tracking your totals for investments and gains/losses, even when you add price paid per transaction for individual mutual funds/stocks. I'm not sure what the problem is, but I have full confidence that one day (even if it's not until next January) I'll log in and everything will work as it should.
I successfully added my accounts to Mint, with one exception: Citizens Bank. Though I've moved to ING for my savings accounts and CDs, I still use Citizens for my checking and do most of my spending with my debit card. Without support for Citizens, Mint was pretty useless to me. I signed in every couple of months, hoping Citizens would work, but it never did. I logged into Mint a couple of days ago to check things out, and I was thrilled to see that Citizens Bank is now functional...finally! I excitedly spent the better part of an hour going through my spending for the past couple of months, tagging and untagging transactions (yes, I am a total nerd.) I still haven't figured out the best way to log deposits into my ING savings accounts (both Citizens and ING log these, and it doesn't end up making sense), but I'll get it eventually.
Mint is almost perfect now, except for the Investments tool -- it's still way off in tracking your totals for investments and gains/losses, even when you add price paid per transaction for individual mutual funds/stocks. I'm not sure what the problem is, but I have full confidence that one day (even if it's not until next January) I'll log in and everything will work as it should.
Friday, December 5, 2008
Revisiting November Goals
I wasn't able to save as much money in November as I would have liked. I had to shell out $265 for new glasses (which I deducted from my emergency fund contributions), and I began Christmas shopping, so contributions to the fun fund have also been cut back. On the plus side, I calculated that I'm paying off my Federal Loan at a rate of 3% per month right now; if I keep this up, I can have this loan paid off completely in little more than two years, possibly less since my interest rate will be cut by a point next December due to my consistent payment.
Other goals:
*Open a ShareBuilder account. I signed up for a ShareBuilder account and got the $50 bonus from ING this week. I will be contributing $30/month to purchasing individual stocks that pay dividends and make sense to buy and hold. I'm certainly not going to be doing any selling any time soon. I think this will be fun, since the money I'm investing is pretty minimal.
*Enroll in company stock purchase plan. I enrolled last week. Beginning in January, I'll be contributing $20/month to company stock.
*Start buying Christmas gifts early. So far, I have finished shopping for my brother, both parents, and most of C's gift. I started on my godmother's gift, and I think the rest should be relatively painless.
*Top Chef night! Ongoing. This week I made a butternut squash and sweet potato soup that turned out AMAZING, but took almost three hours to make (that includes the time I spent dealing with the finger I almost chopped off and mopping up the soup that spilled when my blender decided to fall apart midway through the pureeing process). If you want to try it, you can get the recipe here.
*Keep up the workout routine. I did it! I've worked really hard to stay in shape this year, and it's paid off. At a doctor's visit last month, I learned that I lost seven pounds in the past year...! I wasn't trying to lose weight (and I really can't afford to lose anymore), just to get in better shape, and I really think I have. As long as I can keep this up all winter, I will be ready for beaching it up in Fort Myers in March. :)
Other goals:
*Open a ShareBuilder account. I signed up for a ShareBuilder account and got the $50 bonus from ING this week. I will be contributing $30/month to purchasing individual stocks that pay dividends and make sense to buy and hold. I'm certainly not going to be doing any selling any time soon. I think this will be fun, since the money I'm investing is pretty minimal.
*Enroll in company stock purchase plan. I enrolled last week. Beginning in January, I'll be contributing $20/month to company stock.
*Start buying Christmas gifts early. So far, I have finished shopping for my brother, both parents, and most of C's gift. I started on my godmother's gift, and I think the rest should be relatively painless.
*Top Chef night! Ongoing. This week I made a butternut squash and sweet potato soup that turned out AMAZING, but took almost three hours to make (that includes the time I spent dealing with the finger I almost chopped off and mopping up the soup that spilled when my blender decided to fall apart midway through the pureeing process). If you want to try it, you can get the recipe here.
*Keep up the workout routine. I did it! I've worked really hard to stay in shape this year, and it's paid off. At a doctor's visit last month, I learned that I lost seven pounds in the past year...! I wasn't trying to lose weight (and I really can't afford to lose anymore), just to get in better shape, and I really think I have. As long as I can keep this up all winter, I will be ready for beaching it up in Fort Myers in March. :)
Friday, November 21, 2008
Blowing Through My Budget
I'm totally failing to follow my budget this month. I've already gone over on my dining ($50) and entertainment (drinking at bars, movie rentals, etc. -- $30) budgets. Even my grocery budget ($150) seems impossible this month. And these are *budgeted* items; I made an $84 purchase online the other day at the Gap and Old Navy; yesterday I went to the eye doctor for the first time since college, and wound up paying $250 for the exam and new glasses/lenses.
My spending isn't out of control, but I'm having a hard time sticking to the limits I set for myself, which is frustrating. I usually go out to eat once a week with C, and we either split it or take turns paying. This usually winds up being $50 or less per month, but we've been to a few places that are a bit more pricey this month. And we're planning to go to a tapas restaurant this weekend! It won't break the bank (we have a $10 gift card, so it will come to less than $25 total, tip included), and C may pay anyway, but still, this needs to stop. After this weekend I'm telling C we have to limit our dining out majorly in December. We have Christmas gifts to buy, after all.
My spending isn't out of control, but I'm having a hard time sticking to the limits I set for myself, which is frustrating. I usually go out to eat once a week with C, and we either split it or take turns paying. This usually winds up being $50 or less per month, but we've been to a few places that are a bit more pricey this month. And we're planning to go to a tapas restaurant this weekend! It won't break the bank (we have a $10 gift card, so it will come to less than $25 total, tip included), and C may pay anyway, but still, this needs to stop. After this weekend I'm telling C we have to limit our dining out majorly in December. We have Christmas gifts to buy, after all.
Saturday, November 1, 2008
October Goals Revisited
Let's see how well I met my goals for October...
Savings goals
*Deposit $1,000 from paychecks
*Open a new CD for the downpayment fund in the amount of $2,000
I met both of these goals, and ended up opening two new CDs for the downpayment fund. I figured ING would cut their CD rates shortly after the Fed cut the interest rate, so I opened a 12-month CD at 4.25% a few days ago, in addition to the six-month CD I opened earlier in the month.
Loan payment goals
*Pay minimum on Perkins loan, Sallie Mae Private loan
*Pay $850 on SM Federal Loan
I did meet these goals, though I accidentally overpaid my Perkins loan. I thought I'd changed my automatic payment to the minimum (about $65), but it was still set at $75. I changed that, so everything should be good to go from now on.
Retirement goals
*contribute $153 per week to Roth 2008 IRA until the end of the year.
*stop looking at google portfolio! it's just depressing, at this point.
I kept up with my contributions, which has worked out pretty well for me since prices keep dropping. I haven't stopped looking at my Google portfolio completely, but I'm definitely not checking it every day. I usually just look at it when the market goes up, now, which is much better.
Spending goals
*Stop buying clothes!
*Keep dining out to a minimum. I've gone over budget on this for the last two months.
I did well with both of these. I did buy one sweater (for $15 at Old Navy, though), but that was it. Unfortunately, some of the crazy clothes spending from the previous month is showing up on this month's GapCard bill, which is lame since I thought I'd already paid all of that off. Oh well. I've been dining out less, keeping under my $50 budget.
Personal goals
*read at least three books this month.
*visit boyfriend's new apartment.
*continue walking to/from work as much as possible.
*start weight training again.
*make one new thing for dinner each week.
I accomplished all of these goals, except for the last one. I am planning to start up on that this month, though! I'm starting with a recipe for cabbage soup I found online. I did try a different version of cabbage soup last year which was pretty good, but this one sounds amazing.
I'll post my goals for November this week. I hope I can keep up with them as well as I did this month!
Savings goals
*Deposit $1,000 from paychecks
*Open a new CD for the downpayment fund in the amount of $2,000
I met both of these goals, and ended up opening two new CDs for the downpayment fund. I figured ING would cut their CD rates shortly after the Fed cut the interest rate, so I opened a 12-month CD at 4.25% a few days ago, in addition to the six-month CD I opened earlier in the month.
Loan payment goals
*Pay minimum on Perkins loan, Sallie Mae Private loan
*Pay $850 on SM Federal Loan
I did meet these goals, though I accidentally overpaid my Perkins loan. I thought I'd changed my automatic payment to the minimum (about $65), but it was still set at $75. I changed that, so everything should be good to go from now on.
Retirement goals
*contribute $153 per week to Roth 2008 IRA until the end of the year.
*stop looking at google portfolio! it's just depressing, at this point.
I kept up with my contributions, which has worked out pretty well for me since prices keep dropping. I haven't stopped looking at my Google portfolio completely, but I'm definitely not checking it every day. I usually just look at it when the market goes up, now, which is much better.
Spending goals
*Stop buying clothes!
*Keep dining out to a minimum. I've gone over budget on this for the last two months.
I did well with both of these. I did buy one sweater (for $15 at Old Navy, though), but that was it. Unfortunately, some of the crazy clothes spending from the previous month is showing up on this month's GapCard bill, which is lame since I thought I'd already paid all of that off. Oh well. I've been dining out less, keeping under my $50 budget.
Personal goals
*read at least three books this month.
*visit boyfriend's new apartment.
*continue walking to/from work as much as possible.
*start weight training again.
*make one new thing for dinner each week.
I accomplished all of these goals, except for the last one. I am planning to start up on that this month, though! I'm starting with a recipe for cabbage soup I found online. I did try a different version of cabbage soup last year which was pretty good, but this one sounds amazing.
I'll post my goals for November this week. I hope I can keep up with them as well as I did this month!
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