August Review and a Budget Change

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The household budget for our family is $500 a month and includes all groceries, household products, diapers, health and beauty, clothing, gifts, decorations and newspapers. A little on the lean side? Perhaps, but it works for our family. Whether your number is $300 or $1000, you should do what works for your family.

In August:
I spent: $181.50
I saved:  $347.86
Extra money I made: $270.82

Over the past 8 months I’ve been able to keep our total spending at barely over $2,414.  Our budget for those 8 months was $4,000.  We have tried to continue to spend significantly less to better prepare for a possibly empty rent house in the future.  I think we’ve proved to ourselves by averaging just over $300 a month in spending that we can truly keep our budget low.  I’m going to reduce the budget back to the $400 it previously was and hopefully we can continue to be well under it, even through the coming Christmas season.  I’m going to count all money saved under that $400 amount towards our savings, so you’re seeing a jump on my savings tracker this week to account for the savings since January of $786. That brings my yearly savings to 55%.  I still have a lot of work to do in the next 4 months :-) but I won’t buy things just for the sake of saving so I’m not sure if I’ll hit my goal or not.

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