The Day Job +50%My budget accounts for just 2 paychecks a month. This month was one of two triple paycheck months. This comes in handy and helps with unexpected expenses.
Fixed + 4%I am not overly pleased with being 4 percent over. Mainly because this is a triple paycheck month. I should have been way under given 60 percent of 3 paychecks is allot more than 60% of 2. The two largest expenses are my mortgage (30%) and close behind are groceries (20%.) With the cost of food increasing (seems like monthly) feeding six people on a budget is difficult. This does not include dining out as that falls under GFSM. I usually budget $200 a week. This month was an extra $200 for some additional items I bought from the CSA I belong to. These extras are delivered weekly all summer long so my grocery cost will be less going forward. Just 10 years ago when we were a family of 4 I remember spending less than $100 a week on groceries. At a later time I will break this down in more detail.
Investments -52%I purchased some stocks from cash from prior months. I did deposit some cash into the cash account I use for investments. However it wasn't what I budgeted for. Some of this money along with savings went to pay a credit card bill (see Savings.)
Currently I am not taking enough directly out of my paycheck to put into the cash account I use for investments. This has the bad effect of spending it rather than saving. I need to adjust my direct deposit to align with my savings goal.
Savings -191%With a triple paycheck month this should have been allot higher as well. In reality I saved less than 10% of 2 paychecks. I had to dip into the savings reserve to pay a credit card bill from the previous month. This bill included prepayment on our family vacation this summer.
Family is very important to me and ever since we paid off our last credit card about 6 years ago we now take a family vacation every year. I will only get to enjoy my kids (at their current age) once. The memories will last me a lifetime so that dividend will always be there.
Guilt Free Spending Money -45%This is my best area for the month of May. I spent less than the 15% allocated to this category. Some of the big ticket items in this category included dining out (55%) and gifts (34%). May is my daughter's birthday and our wedding anniversary. We also had a few family events this month were we gave gifts of money (hopefully wisely invested.)
Charity -99%For the whole year I am not doing well on this category at all. Kinda embarrassing that my money is going elsewhere instead of causes that need it more than I do. This is usually the category that gets squeezed the most when I need to pay bills. Unfortunately I have to take care of my family first. This means all the other categories get priority so that my family can thrive. I am not sure that is the best word for it. One of the reasons I am doing this blog is to improve my communication and writing skills. As this trend of little giving is likely to continue I may group it together with GFSM/discretionary spending going forward. This combined with GFSM would then total 20% of my income.
How does this compare to your budget? Anyone else out there spending more on food that everything else?
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