-Written by Steph
Having completed the first three months of the year, we decided that it’s a good time to take a look at our spending to date versus our annual budget. This is effective as of the end of March. We wondered when we set the budgets if we were being too optimistic in our cuts, but it seems to be looking very good!
Budget: $2325 Actual: $2243
Our insurance went up slightly, but we haven’t had to do any repairs that we’re responsible for, or buy any light bulbs.
Budget: $825 Actual: $449
We had about $200 worth of grocery gift cards from credit card sign-up bonuses, which made up a big chunk of this. We’ve also been eating out less, meal planning, and shopping more strategically.
Bills and Utilities (two cell phones + internet)
Budget: $275 Actual: $243
We got some account credit from strategic credit card spending, but pretty much as expected.
Budget: $150 Actual: $50
Pretty good for now, but Cel will probably be buying one of the new video game systems at some point this year.
Budget: $25 Actual: $0
Haven’t needed anything yet
Budget: $25 Actual: $31
About right, Steph bought shoes and socks but won’t need any more for some time.
Budget: $230 Actual: $327
Over budget, but part of that was buying clippers to start doing Cel’s hair myself, so this should balance out soon.
Budget: $170 Actual: $341
Quite a bit over. There have been a lot of great shows recently, but we’ve also started classifying some of our food-away-from-home as entertainment rather than restaurants (which would be in Food and Dining), if it’s things like movie popcorn.
Budget: $100 Actual: $110
About right, a little higher than it would have been due to some bike parts. Should drop like a rock now that it’s warmer and we can bike more rather than using transit.
Budget: $75 Actual: $55
Budget: $225 Actual: $110
We were pretty generous in this category when we made the budget, and it shows. This included shipping costs, books, my Good Housekeeping yearly subscription, a digital bathroom scale, and some kitchen stuff (tupperware and a cookbook holder).
Budget: $4200 Actual: $3959
Seems like we’re on track to beat our budget, and by a nice margin. We’re doing even better if compared to our spending for this period last year (Jan-Feb 2013) rather than our 2014 budget, which was about $4440. Check our our next Quarterly Update in early July!