October Spending

As part of improving our finances, it is important to understand where our money is being spent. Below is all of our expenses for the month of October. Seeing these numbers in black and white was really shocking, and really points out the need to change our behaviors.

Monthly Expenses:

Auto: $169.96
Restaurant: $199.21
Bills: $236.15
Entertainment: $219.50
Grocery: $304.24
Clothing: $13.08
Household Supplies: $63.08
Postal: $34.22
Gifts: $99.68

Total: $1339.12

Wow. Even though this is for two people, it is obvious which categories we can cut back in!

1. Our restaurant, grocery and household expenses totals to $565.53. I know that we can do better in this category. I would like to get this combination down to $350 or less. Since I start working on Monday, I hope to see this total decrease since I will have less time to go to the grocery store. I currently go every few days and do small shopping trips, which will probably change to once a week soon. Currently, we tend to eat out once a week. I don't see a change in that pattern right now. And until recently, I have not encorporated coupons into my shopping. I hope for a big change in this number next month!

2. This months auto included a new battery for my car. As long as there are no unexpected car expenses, this category should see a decrease in November.

3. Entertainment: As addressed in my last post, this was the cost of traveling for vacation. I have a planned expense for November, but this category should also see a decrease.

3. With the holidays coming, I expect the gifts category to be a little higher. We haven't yet set a budget, so will have to work on that before purchasing gifts.

Totaling up our spending was really an eye opener. After seeing this, I am sure that there is room for improvement. I look forward to minding our expenses throughout November and posting our progress.

BeyondYourHorizon