By Moira March 6, 2019 In Finance

March Budget: New Expectations and Trying Qapital

Happy Saint Patrick’s Month! We’re two months into 2019, and can you even believe that?? This year is going by so quickly, and honestly I couldn’t be happier. 2019 is a year of struggling hard work, and (trying to) power through. It has been really rough in a lot of different areas of my life. That being said, I am really proud of how well I’ve done when it comes to my budget. It’s been tough, but it’s gone really well so far.

February Budget Overview

Total Income: $1,298.65
Total Expenses: $1,056.70
My income between January and February was virtually unchanged. My expenses were almost two hundred dollars less in February and I am really proud of that! I thought about moving that hundred into savings, but I ended up keeping it in checking for now. I think going forward, I might push that remaining balance into my long term savings account. One negative from last month, I did end up spending on my TJ Maxx credit card. I paid off the card last December, with the intent to not put anything on it again. I did end up using it in January, and paid it off in February. In February, I used it again, needing some basics for a job interview. My total spending on my credit card was $107.10. Not great, but I needed the items I bought (except for those candles, but #SelfCare). My goal is to pay off that balance by the end of March.

Overs & Unders

In my budget, I have 3 categories of expenses: Monthly Responsibilities, Grown-Ish, and Other. Monthly Responsibilities includes rent, credit card, the gym, and my Adobe subscription. Grown-ish includes my two savings accounts, student loans, and annual website registration, as well as a few filler spots I may need to add in later. Those two categories don’t count as they are pretty regular, and I sure as heck don’t account paying more into savings as a negative!

What I consider for my Over/Under section are my Other Expenses.
In February, I was Under Budget on spending for: Beauty, Clothes, Dining Out, Entertainment, Gas/Auto, Groceries, Health & Fitness, Home Goods, Medical, Misc, and Travel.
I was Over Budget on spending for: Gifts, Gus, and School. Gifts, I got excited for Valentine’s Day, buying the Beau two movies, and dinner for him, my sister, and myself. For Gus, he has a nail trim & check-up this month, as well as a pretty big Chewy order, his budget was over by just $1.94 so I’m not too upset here. Lastly, my overspend on School. Generally, after the first month, my school spending is pretty low. This semester is a little different, coming up to graduation in December. This month I had one $70 bill, it was my membership for the Mu Kappa Tau Marketing Honor Society! I’m not sure it does much, but I was really proud to qualify! This was only $20 over my School spending budget for this month, and won’t set me back too much in my overall annual budget.

Should I Try Qapital?

I have been working really hard to grow my savings, and I have been thinking about using Qapital to do a little bit more. Qapital is an app that allows you to automatically round up your spending in a certain category and sends that amount to your savings account. I was thinking about attaching it to my high yield savings account and rounding each of my gas purchases up to the nearest $5. If I rough the numbers from my February spending, I would have added another $22.55 to my savings account. So, not a lot, but certainly better than nothing! My one big hesitation is the fact that their basic plan costs $3/month, which doesn’t seem like a lot, but for $36/year, it’s enough to give me a little bit of a pause to think. I’m going to do a little more research on it for now, but let me know your thoughts if you use/used it!

March Budget Expectations & Goals

Given that March is the end of the first quarter, I’m going to check in with my budget and see if I can tighten up any of my spending categories. I’m thinking I can cut down my dining out budget, as well as health and fitness. My beauty budget is also pretty high at $70, but my haircuts are usually $65 (with tip). That’s a tough area to cut since I go pretty frequently for bang trims.
One of my goals this month is to buy myself another pair of glasses and a pair of sunglasses. I found a pair of sunnies I love from GlassesUSA. They constantly send out amazing discount codes, and the next one I get, 100% using it on new glasses! This will be my first pair of prescription sunglasses ever, mostly because I’m really tired of wearing cheap non-script ones overtop of my regular glasses. I’ve been holding on this buy, but it needs to happen. Will give you all a full review of GlassesUSA & the frames I get when I make the order!

On a non-finance related note, Next week I will officially be halfway through my second to last semester of college! Absolutely wild to me to think that I’m finally getting to the end! And I’m actually really excited to start paying on my loans, which is weird I know. It’s been such a long process learning everything about my loans and personal finance and just everything, I am so so ready to take it to the next step! It’s been a long time coming, and I cannot wait to tackle my big money goals! What are your financial goals for March? Are you going to review your budget for the end of the quarter? Let me know!

See Last Month’s Budget See All Finance Posts

Leave a reply