August 09 Budget Review

Ahhh….finally.  With the end of august comes the end of summer, the childrens are going back to school, and the weather starts to get a bit cooler.  It’s also the end of the month, which means time to review the progress made in august towards becoming debt free, and re-evaluating (or creating new) goals for my budget.

Income: This is all the income that I earned during the month of August.

  • Paycheck – $1,100
  • Gifts – $383 – This income is not normal, and I do not budget for having it every month.

Total $1,485.90

Spending: This is how I allocated my resources during the month

  • $416 on Auto and Transportation –  This is the most I’ve ever spent on this category, by far.  I had some things happen earlier in the summer, and now I commute to work every day.  This includes insurance, gas, and some repairs that I did myself, and some that I paid to have done.
  • $441 on Home – This is rent ($375) and home improvement.  Im comfortable with this number, although typically this would include just rent.  I built a new bookcase this month.
  • $232 on Bills & Utilities – This includes water, trash, electricity and cell phone and tv/internet.
  • $226 on Food – This includes grochery shopping and dining out.  I believe that I budgeted for $225, so im ok with this
  • $40 on Education – This is to pay to keep me in school.
  • $19 on Shopping – Not too sure what I bought, which is probably not a good sign.
  • $40 on Travel – Went camping in the Badlands of North and South Dakota this month.  Had a great time. Totally worth it.

Total: $1,414

Difference: $71Not much, but it’s better than a negative number.

There has also been some exciting news reguarding my credit cards.  (wooo!).  As you’ll recall in my paying off credit cards with savings post, I recently paid off one of my credit cards with my savings.  It was a difficult decision, but in the end it made the most sense.  Due to an inturruption in my cash flow, I was going to have to use a significant portion of my savings to live off of for a time,  so I figured I may as well slay one of the beasts.  Boy, did it feel good.  Without further ado, My credit card debt levels:

  1. Southwest RapidRewards Card: $0 – I paid this card off, and im more than happy about that
  2. Chase/WaMu Card – $2,110 – I was able to direct 300 towards this account from my savings.  It’s my next target for payoff.
  3. Citibank – $2,472 – This card is at a 0% balance, and will be my last card to pay off.  The balance ends may, 2010.

Total Debt: $4,582 Im happy to see this number getting lower, and my net worth approaching $0.  Then I can start building a positive  net worth!  Who else is with me?!

Note: As Im still a student, this does not include my student loans, which are currently are in-school status, and will be so until ~june 2010

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