December 2008 Budget

January 6, 2009 at 11:42 am (budget) (, , )

I’m been wondering about anonymity and writing this blog. A few people I work with are aware of my significant interest in debt and finances, and I kindof hate keeping it a secret. Its become a big interest for me, so naturally, I want to talk about it with people. It would be nice to be able to invite people to my blog. However, the issue of privacy comes up. I don’ tmind stating what my debt is but when it gets to salary and income, that gets a little tricky. I’m still debating the best method of handling sensative informtaion, but for the moment, I’d like to keep myself fully accountable – plus i think it’s valuable for people to know to compare (in case you yourself are working on putting a budget together). So without further ado, here’s my budget for December 2008.

Category Spent Budgetted
Food $370 $350
Restaurant $140 $100
Gas $56 $90
Bills $1,057 $1,190
Credit Payments $382 $382
Pets $49 $115
Coffee $45 $25
Liquor $45 $45
Entertainment $23 $25
Photo $0 $50
Clothes $16 $40
Fees/Subscriptions $0 $30
Home $39 $40
Car $125 $0
Total Budget $2,273 $2,585

 

This is my second full budgetted month. I did pretty good. Still have a few wrinkles to work out. My SBA loan minimum payment (which is all interest, and no principle), keeps fluctuating, so I can’t get a static amount. I think I may raise the credit payments category to $400 to make up for it, and put a few extra bucks every month into the SBA (between $15 and $50), so that at least it starts to decrease rather than holding steady. I also expect that by February, if not in January, I’ll have to add $200 for an additional credit payment to the Discover card – I’m about to transfer $5,000 to an interest free card which I just opened.

I also don’t have a gift category, nor one for incidental medical/health items (maybe I should just keep it as part of food). I am going to add $40/month for gifts starting in January.

As you can see, I went over in food and restaurants (see December results post for an explanation). Part of the issue is the disparity of getting reimbursed for food payments when my bf isn’t around or owes me money. It’s really hard to have it be reflected accurately. He bought some of the pet supplies this month, which is why that category is under budget (it’s a bit of a trade-off, over in 1 category, under in another, when in my head I’m on target for various categories). Any unspent money in clothes, fees, home, and car will need to be put into savings, to hedge against future, larger expenses.

December Debt Payments $1182
December Savings $450
December Snowflakes $116

This second chart is a little misleading. I waited until early December to make payments that technically should have been part of November’s budget. I was just starting my budget in November, and these later and multi-December payments were my version of playing catch-up. I should be much more consistent and accurate starting in January. I’m going to keep tabs on my starting checking account balance, and include my income and all savings and debt payments to make sure it all equals out back to that starting balance by the end of each month.

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