Hey, y’all! Welcome back to my little hyggekrog on the internet. I’m glad to be back after my customary month-long hiatus 😂 Real talk, the kids + school have consumed a lot of my attention lately. I’m not complaining; I’m always grateful that I have the opportunity to stay home with my children. And I’m just as grateful for the opportunity to get a “do-over” with college. Graduation photos from old co-workers are flooding my social media feeds, and I’m LOVING it. Seeing people I knew when they were freshies, proudly wearing their cap and gown, surrounded by orange and blue makes me swell with happiness. And it also provides me with some much-needed motivation. If I keep my nose to the grindstone, I’ll have the potential to parade myself about to “Pomp and Circumstance” in spring 2020. Luckily (or unluckily) it’s finals week for me right now so I’ll get a chance to be a bit more present on Lauren, Etc. during the break next week. Now onto the budget review!
Essential (62% of the month’s income)
The percentage of income spent this month is up a bit from previous months for multiple reasons. There’s the ever-present grocery bill which my husband and I had a long talk about the other night followed by an even longer investigation into our spending. Our monthly average is about 70% more than most of the families of 4 and 5 we know in the area. While our family is 100% gluten-free and 95% organic, does this really mean we should be spending sometimes double what others are spending? Probably not. Other areas of extra expense include a new microwave, timing on some utilities, and timing on diaper purchases.
Lifestyle (8% of the month’s income)
I am super proud of this category for the month, we haven’t been this low in a while! We were under budget in hobbies (wagon parts), personal care products, and other shopping. YAY! Purchases in this category for the month included online streaming services (Netflix, HBO, Motor Trend), gym membership, various wagon parts & tools, annual botanical gardens membership, digital movie rental, and dining out/coffee (Chick-fil-A, PF Changs, and Starbucks)
Goal: Short-Term (0% of month’s income)
No monies sent to short-term goals this month because…
Goal: Long-Term (30% of month’s income)
…everything went to long-term goals! $1500 add’l paid on the mortgage principal plus the usual savings vehicles – 401K, IRA, HSA, and the kids’ mutual funds (aka the college fund).
Next Month’s Projections
We’ll be putting another $1500 towards the principal this month, so there will most likely not be any short-term savings again. Also I’m hoping we get our sh*t together and can stick to a stricter food budget. I’m aiming to get our Essential expenses below 60% and keep our Lifestyle expenses at or below 10%.
Hope you all had a successful month of savings in April! Thanks for reading!