Friday, August 31, 2007

August Money Review

As previously mentioned, this was a bad money month. As a reminder, our plan is to take our income, subtract $500 for savings, pay all of our expenses, and send the leftover amount to debt. Here’s a rundown of how we ended up for August:

Income minus $500 transfer to savings minus all the money we spent this month = $1.92.

Yes. One dollar and ninety two cents.

Here are a few examples of where our money went:

$500 – Transfer to savings (I have to keeping typing that to remind myself that we did not spend EVERY penny we made.)

$270.60 – Eating out. I’m serious. And keep in mind that I brought my lunch to work every single day in August. Can you imagine what I was spending before I was “frugalized”? It scares me.

$707.37 – Getting ready for school, such as new shoes, clothes, supplies, school registration, etc.

We did have one other big payment this month, but that came out of a separate bank account – not the one we operate out of – so I didn’t count it. But I will have to reimburse that account next month.

These numbers do not look good, I realize. I keep in mind, though, that had we not been keeping track of our expenses, we would have spent that additional $500 and then some! There were many things we chose not to do this month just because we knew it was going to be a tight money month with those outrageous school expenses.

I don’t think I’ll bother using that $1.92 as a extra payment toward a debt. I’d rather keep it to remind myself of just how close we came to diving into savings. I look forward to having a SUPER SEPTEMBER!