December Budget Results

I am currently $320 over budget.  When I first started budgeting, I would stupidly, chock it up and not make adjustments for the next month and end up over withdrawing my bank account and/or carrying a balance on my credit cards.  I know duh!  If you’re over budget you have to make up for it right.  It never occurred to me that I would have to readjust my budget to accommodate the previous month’s over spending. But, anywho… Lessons learned.  Since I’m over budget, I have to adjust my budget for January.  One day soon I will come in under budget and will be a great day. 

Tithes:  I reduced my tithes for January.  Not the best way to get a financial blessing but I’m hoping God will give me a little leeway.  I know cutting back on tithing because I couldn’t control my spending is bad, but I always tithes and do not volunteer in the church.  Now since I’m cutting back my tithes, I’m going to start volunteering at the church.  Eventually, I want to get to where I volunteer at the church and pay my full tithes! 

Clothing $133 to $0: This will be hard, but I will not spend any money on clothes this month.  End of story. 

Gasoline $175 to $175:.  My on again off again boyfriend lives in Arkansas so occasionally I may go out there to visit.  Next week he’s moving to Tulsa.  So maybe that will help the off-again type of relationship and my gas costs.  We’ll see. 

Groceries $250 to $250:  Gotta feed my kids no matter what.

Fast Food $70 no change- I have to be honest, I can convince myself not to shop for clothes for an entire month but I can’t convince myself not to eat out for an entire month.  I’m already planning to take the kids to a Japanese restaurant for New Year’s Eve. 

 

How Is This Affecting My Debt Reduction Plan?

Emergency Fund: The biggest Casualty in my December’s over spending is the hit to my emergency fund.  I had planned to add $400 to the fund but I had to cut it to $300.

HELOC and CC: I’ll pay $416 on my HELOC $250 on my credit card debt, which is in line with the plan.  Unfortunately, one of the roommates from my rental property hasn’t paid his part of the rent.  So, I’ll be $100 short from the part of the rent payment I also used to pay the HELOC, so that’ll put me behind $100 but I’m hoping he’ll draw his unemployment and get the rest of the money like he said he would.  We’ll see.

These changes will even me out for January but I just gotta keep my wallet in my pocket for the weekend so that I don’t do any further damage.