By Moira May 18, 2019 In Finance

May Budget

It’s finals season and allergy season and for me it has not been budget season!

April Budget Review

Total Income: $1,254.53
Total Expenses: $1,242.91
Spending was a little tighter in April, and my planning was totally off. I earned $100 less than I planned, and spend $200 less than I planned. Starting in May, I will be seeing my income pick up, taking on more hours at work, and a second job, and working on a side hustle. I won’t have much of a summer break, but my goal is to have to work as little as possible during the fall.

Overs & Unders

See the explanation of Overs & Unders here
In April, I was Under Budget on spending for Beauty, Entertainment, Gifts, Health & Fitness, and Travel. Nothing too crazy to note here.
I was Over Budget on spending for Clothes, Dining Out, Gas/Auto, Gus, Groceries, Home Goods, Medical, and School. It was a rough month, but in my defense, I dropped the budgets down for these things a lot between March and April. Clothes were high because I had no shorts for the summer, Auto expenses were high due to some wonderful car trouble. Medicals were up because my allergies spiked up and I got sick. And for School expenses, my expenses were high because I applied for graduation! Definitely okay with going over budget for that.

Savings Update

In April, I didn’t have any rent charges, due to overcharges in previous months. I debated on putting that money towards my credit card, and totally could have, but instead, I put it towards my tuition savings. In April alone, I added $670 to my savings accounts. As of now, I have $768 in my tuition savings and $401 in my emergency savings. Nothing groundbreaking, but in about a month I have almost doubled my total saved! I’m going to call that a win.

May Budget Goals

$1000 in Tuition Savings So far, I’m about a third of the way to paying off my fall semester. My first tuition bill comes in June. I want to have $1000 saved up to be able to put down as much as possible in my first payment to the school. By putting more upfront, I can reduce the amount I’m going to owe for the rest of the year

Cut Down on Dining Out This was one of my goals for April, and I failed this one spectacularly. I budgeted $50 for dining out last month and spent nearly $80. I’m going to hold steady at $50 again for May, and do my best to keep it under.

April was a crazy month, but I could not be more excited for what May and the rest of this summer have to offer! What are your plans for the summer? Let me know!

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April Budget • All Finance Posts

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