March 2008 in Review
March was another good month for me. My net worth received boosts from rebounding stock prices which helped counteract lowered additions from my pay. I also finished paying off the debt left on my credit card which is a very significant short-term milestone.
Assuming that I can maintain discipline over the months, I will be able to actually use leftover surplus instead of simply applying it to consumer debt. Even though back in February I was ahead by over $70, it didn’t matter because it just got rolled right into the debt. From here on out, I will be able to make use of that surplus rather than see it frittered away to line the pockets of the VISA. Expected uses are many including non-consumer debt payoffs, additional investments, and spending money for luxuries.
Assets: $29,385.69
- Cash in Hand, $300.00
- Emergency Fund, $1,016.59
- House Down-payment Fund, $5,010.14
- Corvette Fund, $1.00
- 401K, $9,070.09
- Taxable Stock Account, $2,432.57
- Prosper Loans, $321.80
- Family Loans, $1,780.00
- Toyota Corolla, $8,000 (kbb.com value)
- Apartment Security Deposit, $1,453.50
Liabilities: $22,712.67
- Student Loans, $19,427.06 (6.00%)
- Car Loan, $3,285.61 (4.99%)
- Credit Card, $0.00
Spending was inline with estimates but only barely and only as an aggregate. I spent far more on eating out as well as in the ‘other’ category.
Spending Budget: $1,140.00
Spending Actual: $1,137.11
- Petty Cash: ($20.00) $50.00
- Tolls: ($0.00) $0.00
- Gas: ($180.00) $147.00
- Eating Out: ($120.00) $228.52
- Entertainment: ($410.00) $345.68
- Fitness: ($40.00) $9.61
- Gifts: ($230.00) $112.30
- Other: ($140.00) $244.00
(Budgeted) Actual
The other spending reflected a few things. I purchased and mailed invitations for our upcoming wedding. To be honest, I should be tracking these expenses separately, my fiancé even suggested it the other night. However, by absorbing these and other smaller expenses within my ordinary spending plan, we will in essence lower the final bill that would need to come out of our joint savings. That savings is for a down payment on a house, something I want very badly.
Eating out was a disappointment. I spent on one dinner and one breakfast with my fiancé totaling around $70. After that, I squandered my money in non-threatening $5-$10 increments. To see the final number so large at the end of the month is a wakeup call. I need to hunker down in April and keep this spending controlled. There is no excuse for running up so far over budget.
I spent a good deal on entertainment but it was all planned for. I managed to be comfortably under budget in this category which makes me happy. At least I do have some planning and discipline in me.
For April, I plan on spending in just about every category including purchasing some nice-to-have items. With a bit of help from my fiancé, I should hope that upcoming spending will be far more controlled. I don’t want to be surprised again next month.