Thursday, November 6, 2014

October 2014 Budget



I always look forward to this bi-annual event of 3 paychecks in one month.  My last one was in May.  Overall it wasn't a bad month.  I did come in a little over budget (about $608.95 to be exact).  There was one of those unexpected expenses that come out of nowhere.  My wife's 2006 minivan wouldn't accelerate.  Allot of things with houses and cars seem to break in the fall with the first cold spell.  This car repair was costly.  What am I talking about all car repairs these days are costly.  If it didn't happen I would have stayed within my budget.  Oh well.  I save for car expenses so when these things happen I do not go further into debt.

Expense Breakdown
Overall things are pretty much the same.  You will see the percentage increase a lot for cars (like 11%).  Most other categories were pretty much in line with the previous.  I spent a little more on food.  I made a onetime purchase of about $60 worth of grass fed ground beef.  It was on sale so I stocked up on it and froze it.  I like the taste of it and as a plus less e-coli and no antibiotics in it.




Miscellaneous
Childcare was down from the previous month.  We are still potty training both our youngest.  I expect this to drop significantly once I no longer have to buy diapers/training pants for 2 kids.

Household was up for the month.  Time is valuable and I spend most of my fall days out blowing or raking leaves.  That would take 2-3 hours each time.  My wife and I finally agreed to purchase a backpack blower off of Amazon.  I have been saving my Amazon points for some time now so I was able to reduce the cost by a couple hundred bucks.  Now I am able to do my entire yard in 1 hour.  It is even a little fun.  Oh the large leaf piles I can make for the kids to jump in.

Personal care was double from last month.  It was haircut time for me and the kids.  That trip cost me $42.  I should go back to just shaving my kids heads myself.  Who needs style right?

Clothing.  I bought a few work shirts on TJ Maxx's clearance rack for $12 apiece.  These are normally $50 shirts each.  I can't remember the last time I bought clothing at full price.  That will be it for a while as I don't wear out shirts as fast as pants or shoes.

This month was worth noting healthcare costs (again).  This was all related to a touch up to my Lasik surgery I had done earlier this year.  That surgery is being covered by my HSA but I am paying for the meds out of pocket.  Also I bought a pair of glasses for driving at night/in the rain.  There is glare at night so my doctor gave me a prescription for that.

Expense
Amount
Childcare
$53.78
Household
$337.46
Personal Care
$112.66
Clothing
$41.05
Healthcare
$192.46

Guilt Free Spending Money
I do not have a formal budget item any longer for this but I still track it.  GFSM came in at twice what I spent last month.  Eating out 8 times and my Amazon Prime membership fee where the big ones in this category.  That eating out 8 times wasn't all eating out.  I am now moving my wife's chocolate habit ($70) out of food and into this category.  I don't really consider junk food a need but more of a want.  It keeps her happy and since she has no income I don't mind treating her to it.

Investments
Everything was reinvested automatically except for my dividends from Windstream.  I talk a little about it in my dividend post.

Savings
The money I have left over from my 3rd paycheck I haven't decided what to do with yet.  Since things are tight and I don't expect any extra income for the rest of the year it will probably go into the Christmas fund.  It will be a slimmer year for the kids compared to last but that is not the point of the holidays.  Good lesson for the kids I think.

Savings rate for the Month = 33%!

Not bad for a guy with a wife and 4 kids, house, cars, etc.  Hope you did as well or better!


Image By Mister GC and courtesy of www.FreeDigitalPhotos.net

6 comments:

  1. Hi Dividend Family

    33% savings rate with 4 kids and a household to manage is incredibly awesome. I am averaging at about 40% with 1 kid and it is already costing a lot of money.

    Good great they will become your best investments for years to come.

    B
    Www.foreverfinancialfreedom.blogspot.com

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    1. HI B,
      Yeah between kids and the house most of my income is spent. Kids are an investment so I don't mind the spend there. My house on the other hand :-) I might downsize if the market improves enough.
      Thanks for stopping by.
      DFG

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  2. Very good month with a great savings rate. It's hard to beat that with a full family! Good luck with the budge over the upcoming holidays. I know my spending will increase, but tis the season!

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    Replies
    1. Yep holidays are always tough on the budget. I will see if I can create some holiday savings magic. Thanks for stopping by.
      DFG

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  3. Hi DFG,

    Looks like you had a good month on the whole! 33% is a great achievement - you're six times better than the national average of ~5%.

    I can relate to the leaves as we just bought a leaf blower / vacuum this week too so I'll be trying that out tomorrow. And a sprinkler valve decided it was too cold and broke so we had a new water fountain outside the house yesterday. Something to look forward to fixing in the Spring!

    Best wishes,
    -DL

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    Replies
    1. I hear you DL. Water is my houses worse enemy. Always something being damaged by it or leaking/wasting water. Can't live without it though.
      DFG

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