february recap

month recap

Welcome to March! Waa-waa – there is still massive amounts of snow here and no sign of spring at all. I’m ready for spring. But since spring isn’t here I guess I’ll just stay inside and review our budget and progress in February. Yes!

February House Payments

We were able to pay $2,718.96 towards our mortgage this month. That means we were able to pay a little more than $1900 extra towards our mortgage! Thanks for working so hard Husband! Our payment coupons have a little box to check that indicates if you want the extra to go towards principle. I’ve heard at some banks if you don’t tell them specifically to put the extra towards your mortgage they will make advanced payments and it spreads your interest out longer. This chunk of change moved us to where our principle balance would be in June 2016 if we just paid it at the regular pace. Comparing the regular amortization schedule to the accelerated amortization schedule really helps me see the progress we are making and keeps me motivated.

Budgeting

We came closer with our cash budget in February.

FEBRUARY
Budget Actual Percent
Groceries $400.00 $  360.00 90%
Eating Out $124.00 $  124.00 100%
Home Improvement $50.00 $     60.00 120%
Pet Care $50.00 $     50.00 100%
Car Maintenance $40.00 $            – 0%
Entertainment $5.00 $       5.00 100%
Gifts $50.00 $            – 0%
General house $30.00 $     30.00 100%
Personal – Andee $70.00 $     52.00 74%
$819.00 $  681.00 83%

Our grocery was much more reasonable than in January. I had 5 people over for dinner one night and we still managed to come in under $400. I don’t think we’ll reduce this category any further for now because it can fluctuate so much depending on what we have going on.

We went over in home improvement because an exterior motion sensor light broke and needed to be replaced.

Our dogs spent all their money on bones and food. We buy their food at Costco because we have heard several veterinaries recommend it and it is reasonably priced.

Car Maintenance and gifts weren’t used and are rolled over continually to build a pot to pull from when we have larger expense. Like when we have several birthdays in a month. We did celebrate one birthday this month but we bought the gift with a left over gift card from Christmas. It was like finding bonus money.

We spent all of our general house money – paper towels, soap that kind of thing. Very exciting stuff in this category.

Personal money. I literally have no idea what I did with my personal money this month. I can’t remember a thing. I bought some candles when I was having a group of girls over for dinner – it didn’t seem reasonable to take it out of general house money because candles are definitely not a staple, for me they are a luxury – as absurd as that probably sounds. I bought Collin a new phone charger for Valentine’s Day so that’s where some of the money went. I struggle with the personal money category because the nerd part of me wants to track every penny I spend, even this category but the other part of me believes firmly that personal money should be used for fun and whatever I want. It’s the one category without guidelines or specifications so why should I track it? Because it really bothers me that I don’t know where I spent it! That’s why! (Hope you enjoyed that trip into my mind.)

So our cash envelopes did their job in February, we stayed on track for the most part and managed to live within the boundaries of one income.

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2 comments

  1. I love being able to track where I am in the “payoff.” I have a google spreadsheet where I can keep track of how much we owe so I can play with different ways of paying it off. I even put in a graph so I can add data as it happens and “see” the progress!

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