It’s time for another monthly update! My spending was a bit higher than I wanted, but overall it was a good month. I still saved more than I had been before, even if it wasn’t as high as I would like. Take a look below to see how I did compared to my budget. Here’s to June (my birthday month!!!) being more frugal than May was!
| Roth 401(k)
| Roth IRA
| Car Insurance
| Parking DTLA
| Gas & Fuel
| Other Auto
| Misc Expenses
| Additional Savings
Roth 401(k) Contributions
This is an auto deduction from my paycheck, it’s going to happen every month, rain or shine.
Roth IRA Contributions
This is another auto savings device, it gets transferred from my direct deposit account to my IRA right after the first payday of the month.
Fixed expense, don’t anticipate much movement in the rent price, but should it change, the budget will update accordingly.
This is one of the budget items I’m anticipating will have a large variance from budget to actual every month. The three reasons why though are good ones! Check out my March and April 2016 Update for more information.
Nothing really changed for this month. Next month I’m expecting to see some additional savings from TWC though!
Doesn’t typically change from month to month. There’s a lot of advantages to being 23 that can help me keep my expenses low, but unfortunately when it comes to car insurance, being 23 sucks! I’ve tried plugging my info and desired coverage levels into every insurance provider I can think of, and this was the lowest I could find! Most other providers were somewhere around 150-210. I guess they really don’t want to insure young people!
Parking in downtown
So they raised my monthly parking amount L its now $160 per month. Time to update my budget. Although, hopefully not for long! I may have figured out how to get to and from DTLA using public transportation. I’m still ironing out the wrinkles, but when I’ve got my process implemented I’ll write a post on it!
I drove a little bit more this month causing me to have to fill up 3 times. I had 2 drives to visit family that used up the bulk of the extra tank. If I get my commute nailed down though I’m hoping this number drops!
This includes the Fasttrack, Ubers, other parking, maintenance, oil changes, ect. Hoping to get this line item down from changing up my commute as well
May was good, got some free entertainment on a hike in Palos Verdes, saw Captain America Civil War, rented the Martian from PSN. I cancelled Sirius, so next month I should start seeing the benefit from that!
We had a bunch of different people visit this month, driving our grocery bill up. My mom, and my girlfriends family (parents and brother) visited during May. The parentals will pay for dinner when we go out, but when we’re eating home cooked meals it comes from our grocery shopping. For 35 extra bucks a month though, its worth it to have the family come by J.
Spent a bit more here than I would have liked, I was pretty good about bringing lunches to work, but could have been better with dinners. There were 3 bigger meal items here that really caused the overage. 2 of them were picking up meals from fast-food restaurants for dinner for me and my girlfriend. $20 to Chick-fil-a is good, but ain’t worth busting the budget. The last one though, totally worth it. I mentioned my mom was visiting this month, so I took her out to dinner to celebrate Mother’s Day.
I typically don’t like a “catch-all” budget like Miscellaneous, since its easy to just shove things there and not worry about them. So even though I have this line item, I’m going to list out each transaction to help hold myself accountable:
May – about $100 to sign up for this site! Between buying the domain and setting up hosting, it wasn’t cheap! But its honestly already paid for itself since its been holding me accountable and making me think twice about my spending. The other $50 was for a birthday gift for my dad and a Mother’s Day gift for my mom.
May was another crazy expensive dog month. Part of it ($100) came from boarding the dogs when we were at Stagecoach at the end of April. We didn’t get billed for it until May 1. $80 was food/treats for the 2 dogs, but that should last us for a while. We’re trying out the big 40 lb bag to see how it works. If the food stays fresh for the length of time it takes the dogs to eat it, we’re thinking about getting a Costco membership to cut the food costs per bag from $50 to $25.
The rest of it ($250) came from getting a dog walker this month. Normally the dogs are at my apartment, where they have access to a doggy door and can go outside during the day. However this month we’ve had a ton of construction going in/around my apartment, so the dogs have been at my girlfriend’s apartment where there is no doggy door. We can’t leave the pups all day so we’ve got a walker come to let them out every day. Once the construction is done (hoping for sometime soon!) we’ll move the dogs back to my apartment. It’s expensive for sure, but we can afford the extra cost to make sure our dogs are safe and happy.
May – No shopping for me! I’ve got to start saving up for the new Madden though, in May they announced the new cover athlete (Gronk Spike!) and the new features. It comes out in August and will cost $60!
My initial goal was to save $550 a month more than I had previously been saving. In May I didn’t quite hit my goal, but I still put $303 more towards savings than I would have last year. There were a few different reasons for it, mainly the dog walker, but I feel like I’m on the right track. I’ve made some changes this month (lowering my cable bill, cancelling XM, possibly finding a free way to work, and signing up for a library card) that didn’t show up yet, but should start making a noticeable impact in June/July.
How did you do this month? Were you able to make any changes to better your financial life? Let me know, I’d love to hear about them!