One huge epiphany during the last two months budget cycle. I overcompensated with activities for the guilt I felt because my children didn’t get the chance to go see their dad for spring break. This spring break I wanted to take them away on a trip, but my budget wouldn’t allow it. Instead, I took them to the movies, iFly (found an amazing Groupon), and to a virtual reality place (another Groupon find). I needed to save my vacation days so I still went to work, so I had the additional childcare costs. Plus I was tired or we were out late so I ended up buying food out most of the week. Hindsight I probably would have been better off just getting away lol.
In the midst of my decision making, I should have slowed down and checked the budget. I actually had saved to do activities, but the additional eating out paired with the child care expenses blew the budget. No regrets only the lesson of better budget preparation for spring break including additional money for food costs, extra child care, potential travel costs, and activities.
The month of May included preparing for my Bff’s vowel renewal, mother’s day, and the celebration of my birthday. Add in an additional random end of the school year expenses, and my kiddos growing like weeds. Needless to say, this month didn’t go so well either. I, unfortunately, dipped into my emergency fund to balance some of the lack of my budget. These expenses were definitely not emergencies. The bright side is I have a bonus coming in from work that will replace the emergency fund. I had originally planned to use that money to throw extra towards the student loans so now I will be working diligently on selling stuff around the house and coming up with extra.
Goals reflection: I’ve fallen off my New Year’s goal of reading, so my goal this month is to read Dr. Eric Thomas, The Secret to Success. I will replenish my emergency fund, and find a way to pay at minimum $1000 this month towards the debt. I’m also continuing the 52-week challenge. I need to make sure that I continue to contribute to this fund so that I can have the money to pay my yearly homeowner’s insurance policy.
Here’s a breakdown of what loans I have left with Navient:
-Consolidated Unsubsidized $67,033.29
-Consolidated Subsidized $8,488.94
Total Remaining: $75,522.23
My ultimate Goal is to have my student loans paid off by December 2018.
How did your April/May budgeting go? Any surprises on your end?