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The April 2016 Expense Report!

in Blog, Debt, Personal Finance, Savings, Spending
Expense Report

Welcome back to the Expense Report! This is the second expense report, and displays our spending habits in April. Let’s see what happened.

Spending Update

Amazingly, this has been our highest saving month so far after all expenses are taken care of! We hope to continue this increased rate of savings into next month and beyond.

 Here is our monthly budget in Excel:

Scroll over to April, and you’ll see what our spending was like for last month.

We continued to pay down student loans at our decided upon rate. Well, almost. We goofed up and actually paid slightly less than planned on the govt. loans. However, more money is going towards the private loans for now, until those get below a certain threshold, then money will be transferred to pay down the government loans instead. This will go back and forth. We decided to do this because although the overall interest rate for the govt. loans is lower, the principle is much higher, making the interest accumulated higher on those loans after a certain point. So, transitioning back and forth, paying more into one than the other, will help us reduce our overall interest paid.

As you can see, we spent significantly less on ourselves than last month. This is a for a few reasons, but one of the biggest is due to the fact that I created a separate category for wedding items, which had been put in the personal categories last month. However, this amount was still approximately half of what was spent last month.

Spending was higher on groceries because we had to buy several items, such as toilet paper, that are bi-monthly (or less) expenses. Spending was also higher in gas because there were more trips taken out of town for our wedding engagements.

Luckily, I haven’t had to spend anything else on the website/writing yet. However, I can see this cost potentially ramping up over the next few months as books need edited and new software or other things are acquired.

Now is the time for me to hang my head in shame. Our eating out expenses were higher than anticipated. That Learning Gal and I discussed it, and we decided we are actually going to increase this part of the budget. We decided to increase this because we have been doing a very good job of saving money and meeting our targets in most of our categories, and this is one where we are going to let loose a little and try to enjoy more.

Our relationship is great because she keeps me enjoying things instead of getting tunnel vision and focusing solely on my goals. Sometimes you have to stop and smell the roses. Don’t forget to enjoy life people! Saving isn’t everything.

We also met our goal to spend no money on fast food for April! That was a big (and surprisingly tough) win. Now to find the next Monthly Challenge!

Thanks for checking it out! I hope you find our budget helpful. Let’s discuss in the comments!

-That Learning Guy

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