My First Month with Mint

For the past month I have been using the Mint.com app to track my spending. This is linked to my accounts at both Royal Bank and Scotiabank (yep…including that secret account in the overdraft…) so it gives me a good overall idea of where my money actually goes.

 

Here was the budget I had set for myself in April:

                                  Budget                        Actual

Auto Insurance-            $115                          $115

Auto Payments-           $290                           $290

Gas-                              $300                          $258

Parking-                        $78                             $78

Phone-                          $80                             $80

Groceries-                    $300                            $255

Restaurants-                 $60                             $51

Shopping-                     $100                           $495

 

Things I didn’t account for:

“Gifts”-  $132

“Everything Else”- $309-This includes loan interest, ATM & bank fees etc.

 

Mint tells me that I have spent  $1604 of $1398…well…that didn’t go so well now did it… they also forgot to include the $289 “Everything Else” category in there… Mint is telling me I have $347 left over…’magine that! Even with spending $500 on shopping lol I think you might have to take this with a grain of salt…it looks like your budget is great when you forget to factor things in!

 

SO! Moving forward and licking my wounds from that sorry attempt… here is what May’s Budget will look like”

Auto Insurance-             $140                         

Auto Payments-             $290                          

Gas-                               $300                             

Parking-                          $78               

Phone-                           $80               

Groceries-                      $300

Student LOC-                 $115                             

Restaurants-                  $60             

Shopping-                      $100                            

Gifts-                              $50

Bank Fees-                    $40

I should add that I can’t find out how to make CC payments show up on here and not just show that I’m moving money from one account to another.

Let’s see if May goes a little bit better than April did!

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April Debt Update

Debt as of April 14, 2014

Student Loan- $0

Visa- $5,500.00

Student Line of Credit- $9,447.38

Total- $14,947.38

I decided to post a week early this month since tomorrow is a holiday and I’m spending it moving my things from my parents house to my boyfriend’s! My visa didn’t move at all this month which sucks but at least I’m down in the $14k’s.

I need to purchase new summer tires which will cost me about $670 installed and taxes in. I hate feeling like whenever I start to get ahead, something pops up! I have made a new rough “budgets” for the next few pays including may as a 3 pay month so hopefully I can get through next month still making progress on my debt!

I think it will be interesting to see how living at home and living on my own will reflect in my debt repayment schedule!

52 Weeks of Saving

money jar

At the end of 2013 my wonderful boyfriend approached me about the 52 Weeks of Savings idea. The general idea of the program is simple, during the first week of the year you add $1 to the jar, $2 for the second week..etc.By the end of the year you’re supposed to have a total of $1378 (my goal is $1400). I thought this was a great way to begin saving money together.

Tomorrow will begin week 16 of the challenge, I should currently have $120 in my account (I opted for a savings account while BF chose the jar method) however I have $130.14 in there right now. For weeks 1-5 I deposited $5 and for weeks 6-10 I deposited $10. I’m going to try to continue to add in a little extra in there each week because i know coming up with the money for weeks 40-52 will be difficult and I would like to have a little buffer in there.

BF currently thinks he will buy a new TV with his money and I will most likely roll mine onto debt. Priorities! Just kidding. BF has no debt besides the mortgage so good on him if he wants to buy a new TV with his savings. Some day I’ll be able to make a similar (although probably not electronic) purchase for myself!