Monthly Budget Review – June 2013

Sorry that this post is a little later than usual, but I was down at the beach for a long July 4th weekend with the girlfriend 🙂 You will also notice that I ditched the weekly spending posts – I had only planned on doing that to see how my spending was going on a running basis. After realizing it’s pretty much in control and much lower than I was expecting (maybe it was posting it on the internet that did this?), I’ve decided to just stick to monthly budgets. If I notice my spending inflating or starting to get out of control again I will bring back the weekly spending posts for myself.

Now let’s move onto the numbers, so here is what my budget for June ended up being:

Item Budgeted Actual Difference
Income $2,800.00 $3,300.00 $500.00
Rent -$100.00 -$100.00 $0.00
Car Insurance -$110.00 $0.00 $110.00
Cell Phone -$20.00 -$20.00 $0.00
Gas -$100.00 -$120.00 -$20.00
Gym -$20.00 -$20.00 $0.00
Dining Out -$50.00 -$20.00  $30.00
Entertainment -$100.00 -$100.00 $0.00
Total Income After Fixed Expenses $2,300.00 $2,920.00 $620.00
“Extra” Spending $0.00 -$92.00 -$92.00
Total Income Before Student Loans $2,300.00 $2,828.00 $528.00
Student Loan Payments -$2,000.00 -$1,500.00 $500.00
Total Remaining $300.00 $1,328.00 $1,028.00

As you may have noticed, I had additional income this month compared to the usual $2,800. After talking to my grandma about student loans in general and then my student loans, she wanted to help me out with my loans this month for my birthday – and would not take no for an answer. I feel extremely fortunate to have her help and I am very thankful and grateful that I have someone in a position like that to help me. I absolutely do plan on putting all that extra money I received towards my loans next month after the confusion this month with my federal loans switching services.

You will also see that because of my camping trip, I ended up spending more on gas than was budgeted for that category – but I expected that because of all the extra driving. I also ended up spending more on my entertainment and extra spending categories, from buying groceries while camping as well as buying my Dad a gift for Father’s day. I managed to only spend $20 going out to eat this month – I didn’t include the groceries in this category as I considered them to be entertainment and extra spending to go along with camping.

I really don’t think I broke my budget too bad if any at all. I went over by $20 in gas and over by almost $100 in my extra spending category. But I also saved $30 on going out to eat this month, and I still didn’t have to pay car insurance which will continue until next month. I’m pretty satisfied with my spending this month, especially with the camping trip being included! I expect next month to be about the same with our trip down to the beach this past weekend, but it may look “negative” after using the extra $1,328 from this month to pay even more on my loans in a few weeks.

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