Sunday, March 3, 2013

March Goals

Family BudgetHaving finished paying all of the bills for March with the exception of the electric bill (I submitted the meter reading myself today and the bill won't be due until mid month) and my cell phone (which goes to my sister and can be done at the end of the month) I then reviewed my checkbook balance and future income and contemplated  my financial goals for March.  I have decided on a few things:
Goal one: I want to begin to build up enough money in my savings account to cover the cost of all new tires on my SUV next fall (about $400-$450) and I need to put away another $300 to cover any unexpected expenses over the summer when I am not working or being paid from my cafeteria job. Our death benefits are still in force so we have the mortgage, car payment, and insurances covered but we will need enough in the savings to pay for the remaining bills, gas, food, and the unexpected. I have a nice balance for that goal already but I want to have a cushion as well. To that end I plan on putting the amount of money I would have spent towards that student loan I paid off( $170) in the savings. Plus I plan on putting at least half of what I earn cleaning for the month ($125) in there as well as an extra $5 to round this up to a total of $300 into my savings for the next 3 months. That will make my goal plus a bit extra.
I am continuing to keep an eye out for available jobs that I can do in addition to my cafeteria and cleaning jobs but so far nothing that will actually benefit us in any meaningful way has shown up. Goal two: Continue to actively look for this job.
Goal three: Cut down on grocery spending and manage to get a few Easter treats purchased as well. My food goal for the month is going to be $250 and my household cleaning/paper/beauty supply goal is going to be $50. $300 total. I think we can easily do this after reviewing the freezer and pantry supplies.
I am still menu planning and putting together a shopping list. I will share those when I have them completed.
Goal 4: Any extra money remaining in the checking account at the end of the month will be split in half with part of it going in the savings and the rest being put aside for spending on my trip to Kansas in April. All the travel expenses have been paid for but I am going to need to get a gift for my granddaughter and have some money to do fun stuff and I am sure we will have an adults only  night out to dinner while I am there. I want to have plenty in my pocket. What doesn't get spent will go into the savings in April.
As far as March income goes we are looking healthy, I will get three full paychecks along with a bit of extra from fish fry work, I will be doing another baking class with the aftercare group and get a small check (which like the last one will go directly into the savings) for that, I will be cleaning twice, and will be receiving the $200 a month from my middle son for his car insurance and covering the DirecTV as per our agreement. I don't charge him rent because he takes care of all the handyman work around the house and pays for the majority of the supplies needed for that kind of thing himself.

2 comments:

  1. Nancy -- your ability to budget has always amazed me. You are an inspiration :)

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  2. Sounds like a solid plan. Good luck!

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