For the majority of people, unofficial Summer is now coming to a close. I’m hoping that the warm weather can hold on well into September, but you can tell that everyone is now back to school. Traffic is now back to its normal congestion and everything is a little more crowded. I’ve also got big news with the fact that I’m finally moving out! Right now I’m still kind of going back and forth between two places because of work, but hoping to fully figure out that situation as soon as possible. I’d love to give more details but I won’t do that for anonymity reasons for now. Once everything is resolved and set up, I’ll be sure to share all the details with all of you.
Since I was in the process of moving out, I’ve developed a temporary budget that bridges my expenses across two locations:
I won’t be paying rent until this month, so my August rent was still just paying that to my parents. I’ve added a food and household category, and started my estimate at around $400 a month. There was a lot of initial purchasing this month, so I’m not sure how accurate that estimate will be. I’m also continuing to pay full car insurance at this point in time and I went for an oil change this month. The oil change was still free, but I did have to pay for the labor associated with a tire rotation.
My cell phone bill continues to be the same through Republic Wireless, still very happy to be grandfathered into the plan that I have! My phone has been showing some signs of aging at almost 3 years old, but with increased expenses I’m trying to hold onto it for as long as possible. Gas spending was much lower this month from a combination of factors: less driving, low gas prices, paying with a gift card.
I’ve added a mass transit category as I’ll be taking advantage of the bus and train for travelling now, but with having to move and lots of back and forth this category was much higher than I expected. I’ve set the estimate at $75 a month for now, but that may need adjustment. Dining out expenses were from going out to dinner once and then visiting a food truck festival another time, that ended up being a lot of fun.
I had a lot of extra spending this month, which was mostly expenses related to furnishing an apartment. So far I think I’ve done really well with keeping those expenses down, opting to use Craigslist and stores that sell gently used furniture whenever is feasible (and sanitary). I know that this month will cause another spike in extra spending, but hoping that is toned down by the end of the month. You can also see where my big increase in net worth came this past month, allowing me to save an extra $1000 without having rent for this month.
Here is what I envision my budget looking like after all the chaos is gone:
My rent is high compared to my income, but I think that I will be able to make it work based on my other expenses once I’m fully settled in. I’m still able to save ~$400-$500 a month on top of the 10% that I’m already stashing away into my 401k. I’m comfortable with that level of saving and I know that in most months I won’t be maxing out my budget.
I’ve also decided to stop posting the “off budget goals” section of my budget reports, as I feel that will adequately be covered in my net worth updates from now on. You can see my checking, savings, and car loan progress in that post. And I’ve already maxed out my
How did everyone else’s August spending go? Did anyone else have an exciting month?
Image Source: Death to the Stock Photo