I’m continuing to go through the Summer with higher spending, as I went on vacation again during this past month of July. I was hoping to be able to keep other spending down though to balance that out, and I think I did pretty well with that. There were also no surprise expenses or anything out of the ordinary, which is always a good thing. Not having to pay student loans and only needing a ‘smaller’ contribution to my Roth IRA this month also gave more flexibility to keep spending down. I plan on modifying my budget in the coming months so hopefully I’ll be able to keep things more consistent after those changes. For this month though I’m going to be using the same template that everyone is probably familiar with by now.
I hope that everyone is enjoying their Summer so far, I was able to take advantage of the warmer weather this past month, though it did come at a cost. I finally broke my streak of coming in under budget thanks to high travel expenses. Since I had built up such a large surplus (around $2500) from the previous months I was not worried at all, with my checking account plus my emergency fund probably even ending up a little higher than I wanted them to be. With the excess amount in my checking account, I don’t really have a cash flow problem at this point. So breaking the budget every so often doesn’t hurt as long as it does not become a pattern!
I’m continuing the low spending trend far into 2016, this is now the fifth month in a row that I’ve been under budget. I had a few unexpected expenses this month, but the low spending across the majority of categories countered that once again. In fact, the only category that I was above my budgeted amount was the health care category. And the unexpected expenses were the cheap part of the category! I’m expecting the below budget trend to reverse next month after going on vacation and contributing a larger amount to my Roth IRA, but it was a nice run to start the year off. It’s a weird feeling to not be devoting the majority of my paycheck towards my student loan, all of a sudden I’ve dropped a huge spending category from my budget.
April continues the theme of low spending in 2016 for me, and now we’re even four months into the year. The strange part is that I haven’t really gone out of my way to avoid spending money, I’ve just had a lot of opportunity for free entertainment (other than the cost of gas) and not to many expensive activities. I except that trend to reverse somewhat in May as I know that I’ll be going to the eye doctor later this month and as the weather gets nicer that also provides more opportunities. I do think this has been a major contributor to paying off my loans in April when I had originally project a May or June payoff date. The extra hundred dollars (or more) each month was then funneled towards increasing my student loan payments instead.
March was a great month for me when it came to spending, even if that resulted in a more boring month for my social life. So far April has started off the complete opposite from the spending perspective! With the extra income that I received from my bonus and tax return, this worked out great for my budget. The HUGE amount of money I put into my student loans really didn’t cause any major disruptions in my budget like I thought it was. I know that I allowed for some breathing room when calculating the payment, but I did expect that it would cut it somewhat close. Fortunately it did not end up that way and I finished the month coming out under budget and resulting in a nice surplus going into my checking account.