Thank you so much to Ms. Afro Penny for challenging me to make a budget for May. I don’t know how I didn’t think of making a budget when I made this blog. It’s the most basic idea when trying to take control of your finances & yet somehow it just floated right past me. So seriously, thank you, Penny. I based this budget off of last month’s spending on necessities. Everyone’s budget is different but for us this is current bare bones necessities for now – which is almost our entire income at the moment. I feel totally comfortable sharing it here. I’m hoping we can stick to the budget for May or maybe even (goddess willing) spend less than is budgeted in certain areas. I may make some adjustments to it as May moves forward because this is the first budget I’ve made for us.
Another wonderful great part of making this budget was showing it to my husband so he can really understand our finances right now. I think breaking it down line by line really helped him to understand our situation better. It made us more of a team because now he understands how many places our money goes every month & why he always feels like I’m nagging him to spend less on groceries – which is valid because I nag him about it a lot. Last month he spent about $850 on groceries – which we just cannot afford right now, as much as he loves trying new recipes.
I actually felt really appreciated because he said, “You put so effort into this. You say you don’t get a lot of productive things done but look this… you did all of this for us. I really appreciate how much time & energy you put into this & am really impressed with you.” Those are always nice things to hear & made me feel all warm & glow-y inside.
So without further ado, here is the May budget I made for us:
The auto insurance also covers insuring my camera & best lens because if they ever got damaged or destroyed I would absolutely not be about to afford to replace them. It’s worth the extra $11 a month to have that peace of mind.
The “Fast Food” category is what my husband buys at the cafeteria while he’s at work or runs out to get from a cheap place nearby the hospital. He’s going to work on packing lunches for himself more but he also gets pretty great prices at the cafeteria because employee discount so I’m not too worried about this category. If we start to get close to the $60 limit then I will talk to him about bringing food from home to work to eat.
You may notice we don’t have a “restaurants” category. This is because when we do eat out it is basically almost always with his mother or father (who are very well off) & they always pick up the check.
Anyway, that’s all I can think to say about it right now. Let’s hope we can stick to this. I’m going to show my husband the budget & where we’re at with it regularly so we can continue to be a team about this.
I have some exciting financial news for you coming soon too. I just don’t want to post three days in a row.