April Update & May Goals

That gif never gets old.

As I mentioned before, I have two checking accounts and two savings accounts. So to make things easier on myself I’m moving around money from one of my savings accounts to my emergency fund, travel fund, and wedding budget, which are all located in my Capitol One 360 account. My other savings account will be directly linked to my checking, but having a good chunk of change at Capitol One (does anyone else still type out ING?) will allow me to accrue more interest and also keep that money out of sight. Something I need to think about is whether or not saving 6 months worth of expenses is realistic for me right now. At my current savings rate my goal will be met in March 2018, which is super depressing so I’m going to think a little bit more about what’s realistic for me and how much we’re going to be spending on paying down student loans once our finances are combined.

I also moved my tax refund to my emergency savings and used a tiny bit of it to add to my travel goal. Gotta love getting back money the government took from you!

My savings now look awesome due to all of this moving around, but in reality I didn’t save that much this month.

In fact, I overspent on a few categories in my budget as seen here:

Screen Shot 2014-05-01 at 10.47.55 AM

I’m particularly displeased with my Food & Dining spending, it’s just too much right now & I need to figure out ways to cut back. In fact, that chart is misleading because the “Misc Expenses” is from my wedding budget, which doesn’t actually count for my total budgeting that month. My favorite past time is eating, so this graph isn’t so much a surprise to me, but a disappointment since I tried to limit my eating out in April. I did spend $63 less on food than I did in March, but I’m still over budget so one of the things I’m going to focus on for May is sticking with my budget goals.

Goal 1: Bring lunch to work every single day. My May 1st lunch was made this morning, but I usually try & make it the night before so I don’t feel rushed in the morning.

photo (3)

Goal 2: Eat out only twice per week. Last night we went out to eat since I had a long work day and our fridge looks incredibly empty and sad right now. That means I get to eat out one more time this week, although I’m hoping to save that for another time. I already know I’ll be out and about this weekend, but don’t have any definite eating plans so my goal is to eat meals at home & bring snacks along with me in case I get hungry.

Man, that last sentence sounds so lame.

Goal 3: Contribute $200 to my emergency fund and $100 to my wedding fund. Once I get paid these funds get directly deposited into their respective accounts making these goals  easy to check off since I know I can’t use that money for anything else.

 

 

Did you meet your April goals? What are you focusing on for May?

 

 

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