January Budget Recap

I posted an update in the middle of the month talking about how we were already over budget. I think we did a very good job with not allowing us to go over much more the rest of the month. Here is the break down of where our money went.


First, let me explain our income. Unfortunately, that will not be our typical income. That includes our actual income, the money I took out of our emergency fund, and the money I currently had in our checking account at the start of the month.

Under debt you will see “Chase,” I did not include this in our actual debt because it was supposed to be just what we had spent the month prior ( we put everything on the credit card) and I pay that every month which is why I still had money in my checking account at the beginning of the month.

I was able to stay on budget with groceries, stay under budget on gas, but went over on everything else. Entertainment/other consisted of eating out, any date night stuff, the cost of Dave Ramsey’s website tools, membership fees to professional affiliations, etc. That category should be under more control in the coming months.

I mentioned in the Mid-Month update that I did some things throughout the month that I like to think made us break even. First, I was able to reduce the interest rate on Sallie Mae from 6.8% to 6.0% due to the Servicemember Civil Relief Act, which gave us $372 dollars back! Next, I canceled both our Credit Reports, unfortunately I canceled too late for one so still got charged for the month. Then, I cancelled Hulu Plus because I don’t need that since I have cable. For the next 6 months, our cell phone cost will be reduced due to the hubby being out of the country. I also canceled our Sirius XM subscription–the renewal happened in January and I got charged $100+ dollars and definitely did not want to pay that! I was able to get $98 dollars back. They were not wanting me to cancel; they offered to give it to me for a year for $25 dollars but I still said no. I was proud of myself!

Even though we went over budget on some stuff, I think we started off with a bang! I am excited to do even better in February!


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