YNAB Update – May wrap-up

June 1, 2013 at 12:19 am 1 comment

Ok, so May didn’t turn out quite how I planned. At the beginning of May, I expected to be about $450 over budget for the month, but that ended up being a couple hundred too conservative.

The good news is that I’m not starting this month out expecting to be over budget!  In fact, I’m starting the month of June out with just over $100 in my Buffer category.

If you have a good memory, you might recall that in early May, I expected that June would have about $500 in my Buffer category.  Here’s what happened:

1. Unplanned expenses came up during May, driving me further over budget.
2. Some previously unplanned kid-friendly summer activities have now been planned.
3. I’m doubling down on my “Home Insurance” category, saving $200 in June instead of $100, as my bill comes due in September, and I need to ramp up the savings so it’s not a budget buster when it arrives.
4. I have a $125 pest control bill for June.

Hence the $400 swing in what I expected to be happening now.

But I’m not discouraged.  I expected things to come up that I hadn’t planned for, since I’m pretty new at this whole budgeting thing.

I can already see a huge difference in my credit card bills.  Each month, I would typically have $2500 – 3000 in credit card bills to pay.  This month?  About $2000.  That’s huge!  I would have normally spent another 500-1000, mostly on stuff that I don’t need.  This is what can happen when you are paying close attention to your budget.

I plan to update my blog again at the beginning of next month.  Here’s to hoping that my budget didn’t get blown, and I actually do end up with a little savings started up.

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Entry filed under: General.

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1 Comment Add your own

  • 1. Joel Friedrick  |  June 12, 2013 at 2:49 pm

    Nice job. Looks like you’re experiencing the standard effects of a real, good budget.

    When I first started I was overly optimistic about how little we would spend on groceries and other monthly expenses, and how much I could save for my fun categories (new car, etc). Eventually I had to face the facts for my situation, I needed to budget more for the necessities, and less for the fun stuff. But it’s worth it, when you finally get to use those saved dollars there’s zero mental anguish, it’s guilt free, and the evidence is located in the budget.

    Reply

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