February is almost over and since we are almost 2 full months into the new year I feel like I really need to buckle down and review our budget and make some changes.
While we haven't gone crazy with spending or anything, we are still able to pay off our credit cards each month, but I haven't been able to put anything back in to savings either. Our emergency fund has been dipped into and I know there are more unexpected expenses coming up. There always seems to be something we didn't expect right around the corner.
This past December threw us for a financial loop when we celebrated Christmas and increased our traveling. Usually we do pretty good setting money aside throughout the year just for the holidays. However, last year we had alot of additional expenses so we didn't have a lot put away.
The new year started with a broken vehicle, a child who needed surgery, and bills left over from the holidays that needed paid. It's been hard to get back on track to say the least.
My plan right now is to look over our budget again and see if and where we could cut back. Going back to a cash only approach or at least using our debit cards instead of credit is on the list as well. As much as I try and track how much we put on our credit card each month, it never fails to send a little wave of terror through me when the bill comes in the mail.
Our $1000 emergency fund needs to be replenished and then I can start focusing on some long term savings.
I'm the same as you. I need to replenish my EF and I too had a lot of things crop up late last year. Right now, I working part-time for a friend for 11 weeks and that is going to help a lot.
ReplyDeleteReviewing our budget is always a stressful time. I did the cash only system for a while and did well. I found that I don't have enough time in my day to dedicate every penny to a specific category, but just sticking to a cash system for groceries has saved me a fortune!!
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