This month’s money meeting really wasn’t a meeting. One of our goals for the new year was for my husband and I to have regular money meetings to discuss our family finances.
We didn’t have an official meeting, but we have spent quite a bit of time talking about our finances, so I’m counting that as progress.
And progress we have made. After tracking and trimming our expenses, we’ve dropped our discretionary spending by 65%. We still have to work on trimming back how much we eat out, but I’m proud of what we have accomplished so far. Just seeing our budget start to work has been a real motivator for both os us to keep going.
This month definitely made us feel like we were making some significant strides in improving our finances. One of my husbands various sidelines brought in some extra money. I had a good month for blogging income, and we also found out we are getting a modest income tax refund.
We signed the paper work on our mortgage refinancing, too, so starting in May, we’ll have $118 in extra money in our pockets each month.
And although my husband’s teaching contract is not officially settled yet, there is very optimistic talk about a pay raise – the first one for him in more than 7 years!
With the extra money coming in, there’s a strong temptation to splurge on the big things we’ve been wanting, but by sitting down together and talking things through, we realize that those wants still have to wait awhile longer. Our savings was especially hit hard last year with major garage and car repairs, and the extra money coming in now will help us replenish that.
Instead of splurging on the big items, we’ll allow ourselves a few small things on our wish list. Budgeting in the splurges makes it easier to tackle the big goals. Other than that, we just plan to keep working on keeping our budget in line.
How are things going for you this month? Were you able to achieve any of your money goals?