This month we saved the most money we’ve ever saved in one day – about $100,000!
That’s right, January was the month we decided to refinance our home mortgage. We were able to lock in at 4.875 percent – far below our old rate of 6.33, and will now be saving about $200 a month. We haven’t completely decided what to do with our new savings, but I’m sure you’ll read about it in a future post!
In terms of the rest of our budget for the month of January, we did well overall. After a rough December, we managed to wrangle in most of our spending, the exception being our grocery budget because I was doing some stockpiling. I was able to save $193.24 by using coupons.
I gasped a little bit this month when I saw our electric bill. Our utility company has decided to pass on some of its increasing costs to customers through additional fees. Our bill has gone up $80 this month. Other families I know saw $120 to $200 increases. I will definitely be replacing more lightbulbs with compact flourescent bulbs this month and looking for other ways to improve our electricity efficiency.
I briefly contemplated doing the No Spend Challenge in February, but then realized I’m not as much of a cheapskate as I thought. So instead, I am vowing to shave 40 percent off our grocery expenses this month and (I know, I always say this) eat out less.
I’ll also be figuring out my taxes this month. Do I know how to have fun or what?
How did your month go? What goals have you set for February?
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