Budget Recap - February 2007
Here is a short summary of February spending. No screenshot this month due to lack to patience for transferring and manipulating files. One downside to joint-finances is keeping our files on a jointly accessible computer and not being able to use all the wonderful resources on my mac for doing as I wish with the data.
Income Overview:
- Income for February: $4,299.31*
- Budgeted expenses for February: $4,398.99
- Actual Expenses for February: $5,211.22
- February Overdraft: $812.23 (We’ll be $800 short for March)
The Good: making progress!
- Savings: $700
- Credit Cards: $465
- Student Loans: $324
- Dining Out: $100 budgeted, $164.11 actual ($55 less than last month)
Middle of the Road: it is what it is.
- Rent: $1,575
- Electric: $114.64
- Internet: $29.99
- Gasoline: $160 budgeted, $235.74 actual ($50 more than last month)
- Personal Funds - The Partner: $300 (making up for the last two months)
- Personal Funds - Mine: $150
- Auto-Insurance: $128.16
- Household: $94.26 actual
- Miscellaneous: $85.20 actual
The Bad:
- Cell Phone: $105.25 — way too high!!!
- Groceries: $300 budgeted, $570.54 actual (Costco Month)
- Business: $61.04 (only made $25 last month)
Summary/Review: Overall, it wasn’t a bad month. While we overspent by $800, it was mostly due to the lack of income from my new job (a week without pay between positions) and holding to a savings schedule that isn’t going to work with our current income levels. We’re already modifying our savings and spending for March to deal with this problem. However, there is no more room to trim anything from our budget, so we may need to kick up the additional streams of income to help make ends meet — more ebaying and more sewing.
*As a reminder, using the YNAB system, our February income is from the paychecks received in January.