Update: April 2012 Budget & Goals

April 30, 2012

april 2012 actual budget

*See that -$50.42 total? I should’ve made it red… my bad! And yes, I was $50 over budget this month.

This month, I had planned on putting 30% of my income on debt, including $300 on my credit card. However, once I saw that my balance was only $500, I knew I wanted to do whatever I could to make sure I wiped it out. That meant no new running shoes but it was worth it. In the end, 35% of my spending was on debt and my credit card now has a $0 balance. I won’t miss having that on my monthly budget!

Another 11% of my spending was put into savings, up 1% from the 10% I was planning on putting away. I stopped saving for the Canadian Personal Finance Conference, when I started fundraising for the Bold Academy, because I won’t be able to go back east if I spend the month of July in Colorado. More on that tomorrow…

The rest of my overages were basically spent on food and take-out coffee. No surprise there! And as for my monthly goals, I didn’t accomplish everything I wanted to but am still happy with the things I did do. Check it out:

  • Continue counting calories on Lose It! – DONE! I tracked everything I ate this month.
  • Workout 4x per week – FAIL! I worked out 3x per week.
  • Put $5 into a jar, whenever I workout – DONE! I have $65 in a savings account.
  • Finally buy myself a new pair of running shoes – FAIL! But that’s ok.
  • Read Mockingjay by Susanne Collins – FAIL! I started reading a few books this month but Mockingjay was shelved; at least for the time being.

How did you do this month?

  • girlgetsjob April 30, 2012 at 4:11 am

    Congratulations! You are amazing for knocking out that credit card debt!

    • Cait April 30, 2012 at 3:48 pm

      Thanks for saying so!

  • Jessica April 30, 2012 at 5:43 am

    Great job on getting rid of your credit card debt! I like your $5 in a jar idea for each work-out…this might actually motavate me to start.

    • Cait April 30, 2012 at 3:59 pm

      Some weeks it feels too expensive… but I think I’ll always put *something* in, even if I can’t afford $20/week.

  • thisaggiesaves April 30, 2012 at 6:40 am

    I didn’t do nearly as well as I planned, but it happens sometimes!

    • Cait April 30, 2012 at 4:00 pm

      Yep, that’s ok! Any step towards your goal is the right step.

  • bogofdebt April 30, 2012 at 7:47 am

    Congrats! I think you did excellent! I love your exercise jar and really wish I could do that. I don’t think that I could afford to do it though :( And I love the #pfworkout tag (from your previous post) and use it so often, as you know.

    • Cait April 30, 2012 at 4:01 pm

      Could you do $1 per workout? Or set some sort of goal like you have to workout 50x before going clothes shopping?

      • bogofdebt April 30, 2012 at 5:21 pm

        That’s basically my goal–after losing about 20 more pounds I get to go get some new clothes

  • fromshoppingtosaving April 30, 2012 at 8:38 am

    $50 above budget? I’d consider that a win! Good job on tracking your eating and going to the gym 3x a week is still fantastic.

    I haven’t started my gym jar yet. I wanted to do $1 each time, but I’m just throwing everything into my savings (#Fworkout) lol

    • Cait April 30, 2012 at 4:02 pm

      It felt like a loss, because I’m usually under budget. Oh well! It was all worth it.

      And yes, #Fworkout is your biggest goal right now. Keep at it!

  • Canadianbudgetbinder April 30, 2012 at 9:27 am

    Way to go, $50 over budget is pretty darn good. i’m struggling to even balance some of my readers budgets. Be happy you can actually balance and have something true to go against. Cheers Mr.CBB

    • Cait April 30, 2012 at 4:03 pm

      It took 6 months of tracking my spending, before I felt comfortable making my first budget. There are always small things that come up here and there, that may change my original #’s, but I do a mid-month check-in to keep myself on track. Good luck!

      • Canadianbudgetbinder April 30, 2012 at 4:28 pm

        Yes same thing happened to us. We started budgeting in our “projected expenses” as we kept pulling from our Emergency Savings. Now each month we budget for everything we can think of or we know we will have to pay for at some point in the year. That money gets put in a separate account. The whole point is to save for when the bill comes in so you don’t have to scramble to find the money. Cheers! Mr.CBB

  • Carrie Smith April 30, 2012 at 10:48 am

    I don’t think being $50 over budget but credit debt free is a bad thing at all! Sounds like a win :) I’m having the same thoughts about paying off my car loan. I could split it into two months, but I want to do everything I can to squeeze together extra money to pay it off completely. It’s very motivating.

    I like your idea of paying yourself $5 for every time you workout. That’s awesome! Ima have to steal that and start doing it for myself. Keep up the good work Cait. I’m still crossing my fingers (and donating) for you to attend the Bold Academy. Rooting for ya!

    • Cait April 30, 2012 at 4:05 pm

      It’s funny how paying off one debt has me thinking my other two debts. Like maybe I should try to pay them off a year sooner. Or at least 6 months sooner. Bah! The options are endless… Good luck paying off your car loan next month! You can do it!

      And thanks for your support in helping me get to the Bold Academy!

  • A April 30, 2012 at 1:47 pm

    Good job! We came in $50 under budget this month. I put it toward our car insurance payment (the next 6 month installment was due today so I split part of the cost in April and part in May to ease the financial pain). So now we owe $50 less in May. And J gets a bonus check in May (yay!) so we’re planning to put at least half of that in the house fund. May is going to be expensive for us because we’re going back to Michigan to visit our family & friends, then traveling to Wisconsin from there for my brother’s med school graduation. So plenty of dinners out, drinks with friends, etc coming up this month. Thank goodness for J’s extra check!

    Are you glad to be heading back to your apartment and getting back into your routine?

    • Cait April 30, 2012 at 4:09 pm

      Nice planning, A! Make sure you enjoy that trip back home and to Wisconsin. I expect an email update, when you’re back. :)

      And yes, I moved home on Friday and spent the better part of the weekend settling in and getting organized for May! 18 workouts are in the calendar, so far. Woo woo!