Family Living 4 Less

Saving Money Without the Sacrifice!

Budget Update: It’s working!!!

Posted by flsquared on November 2, 2009

As you may remember, my family started living on a budget shortly after moving to Manhattan.  This has been a tough adjustment for us as we are not at all used to tracking expenses, but it has definitely been eye-opening.

In the budget, we only included my husband’s base salary as we are hoping to save his bonus outright.  Our hope is to save 10% of the post-tax base salary, but we will be happy if we just break even and don’t touch our savings or his bonus.

Here’s how we’re doing:

August:          saved 9.7%
September:   saved 13.4% (!!!)
October:        overspent 1%

NOOOOO!!!!

On the upside, we are net saving about 7% which is not too bad.

Additionally, we also made some big purchases this month like a membership to the Children’s Museum and NYC Rec Center as well as a big $225 application fee for Victor’s preschool next year.  We should definitely save some money this month as we went crazy buying food (nearly $600 this month) at the local grocery store’s huge Columbus Day sale.  Our cupboards, fridge, and freezer are bursting at the seams.

On the whole, I do think that tracking our expenses and being accountable to them is working. It’s difficult to spend money consciously, but it sure does help!

Wish us luck that we get back into the black next month!!

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2 Responses to “Budget Update: It’s working!!!”

  1. mutuelle said

    How did you manage to saved 9.7% per month? By the way. you overspent on october, not good…

  2. flsquared said

    We were able to save by cutting back in different areas (not getting take out one week, eating more veggies instead of meat, walking instead of taking the bus or subway, creating a halloween costume from what we had instead of buying them, etc).

    In October, we did go over a bit, but it’s important to remember that the month is just an arbitrary check-in point and not the end-all. What I did not mention was that we joined 2 museums (for a year–total $300) and went crazy at a super-sale our local grocery store had. we stocked up on pasta, canned beans, bread, meat, etc for several months–as much as our little pantry and freezer would allow. Even though we are inviting a number of folks over for the holidays, I’m confident that we will be well under budget this month and the next.

    But…I’ll let you know either way!

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