Friday, June 6, 2014

Month in Review- May 2014

Month three was not as "bad" as month two, but we certainly still did not reach the concentration and dedication that we had in month one. We are still adjusting and readjusting our budget to account for life's ever changing priorities. Here is a snapshot of where we stand after month three:

Unexpected Costs: 

  • Kick off to SUMMER activities... for Nick and I this means a lot more impromptu meet-ups with friends and family, so we need to adjust our budget but also plan ahead for impromptu get together and strategies how best to use our money to account for snacks, a bottle of wine or a 6-pack. 
Unexpected Income:
  • Nothing extra this month, but we did get a grill through the apartment building so I consider that a bonus because now it is something we won't need to buy :) 
May Splurges:
Hmmm.... I guess I would have to say the week of my birthday we had a few unneeded purchases. I ended up buying a new bike light and cleaning supplies so that my bike is ready to go for the summer. We also had some guest in town, so a few happy hours that were not originally in the budget, but I wouldn't have given up a single visit :) May was a pretty fantastic month filled with alot of fun activities.

Funniest Moment: 
Funniest Moments this month become "May Events." We have so many great stories and memories from May that I can't just pin point ONE moment. So here is a list of the key events of May:

  • Close Friends Wedding Weekend, a fabulous weekend filled with alot of laughs, dancing, and bloody marys
  • Women's Build Day with Habitat, tore up a tiled floor and painted
  • Mother's Day 
  • Picking Up a Church Garage Sale, this was a day of hard work and rummaging
  • Getting my bike back on the road for commuting
  • Worked at a Summer Beerfest
  • Visit with Grandma Boulter
  • Brunch at a new bakery 
  • My Birthday :)  and a trip to the top of the Washington Monument  
  • 5K in Herndon, VA 
  • Visit from 2 of Nick's siblings
  •   First summer visit to Jazz in the Garden 
  • Day trip to Harper's Ferry
  • Visit from a good college friend

A fabulous month filled with great memories and zero credit card debt! 

Lessons Learned
We really need to break out purchases in our budget. We don't go out to restaurants because they cost more than we have right now, but we do a lot of pot-luck style get together. I think it is an unwritten rule between our friends that no matter the location, everyone attending helps supply drinks and at least one food item.

I love these get together because I still get to hang out with people without a tab or check. The only problem is that they always seem to be impromptu and the menu is never planned more then an hour in advance. So we will be driving home from a hike and find out we are bringing beer and say a desert to a friends BBQ. Okay no problem! We swing off at a grocery store and pick-up what we need.

These quick grocery store stops add up and unless Nick and I plan extra money weekly for these spur of the moment get together we end up going over budget. So June is all about trying to be realistic with our budget and actually HIT below our target line items.

To address this issue we are breaking up weekly expenses into 3 lines:
  • Groceries
  • Alcohol
  • Friends/Family
My advice to friends this month- Make plans with us at the beginning of the month :) We'll have more money then toward the end :) 

Total Payment to Debt: $92.50, on top of our minimum payments for May 
PLUS we signed a new lease on the apartment and got a month free so June's rent went toward our student loans!!

Current Debt: $170,587.09

We started with a total of 35 Student Loans.
We are currently at 34 Student Loans and we need to pay $2,740.28 more in order to reach 33 :)

We are tackling a large student loan at #34 with a 12.5% interest rate! It is really exciting to see our overall balance go down each month, but also to see our minimum payments keep falling! More money to put toward our student loans!!

1 comment:

  1. You two Rock (understatement of a lifetime).