It’s the end of the first month of the new decade and I am happy to report that the Day of Zero was not a fluke – we still have a positive net worth!
This month we decided to try a cash budget and withdrew our amounts at the beginning of the month. We did pretty well until the last week or so when we had some overspendage using our debit cards. We still cut spending for the month as a whole but not as much as we would have liked. Starting tomorrow (February 1st) we will give it another go hopefully having better luck sticking to cash only. In the mean time here’s where things stand:
We spent $3,638 this month, on everything. This may seem high, but it includes all expenses: mortgage, groceries, utilities, school books, loans, the “fun fund”, etc.
We managed to earn $6,855 this month. Most of it came from our full time jobs, but we also earned over $1,000 from our side business. This is great, especially since it was a particularly slow month.
So after all is said and done our net worth ends up at $2,907! WooHoo!
Related posts:
{ 3 comments… read them below or add one }
how did you spend the $847 on food & dining?
Heather,
Good catch, there was a mistake there. Here's how it breaks down…
We spent:
$351 on groceries
$240 on restaurants
$12 on alcohol (for a school project, believe it or not)
and the last $243 was spent on ski boots for me that accidentally got classified as coming from a bar, and thus was mistakenly in the food category.
This month I took a ski trip with my family and did end up treating to a few meals, so the eating out is higher than normal, but $243 of that is not actually food; the actual total should be $604. I've fixed it in our mint.com account, but not yet on the post.
It should be fixed and more accurate now.