April Budget 2017, red-lining it!




 

Well, I’m not setting the greatest example with this first budgeting post being super red, am I?


As you can see, I over-budgeted a good bit in March and the discrepancy carries over into April. The huge majority of the overage was due to uncommon occurrences, such as:

A) Paying my latest Facebook Ads bill for some affiliate marketing I’ve been dabbling in
B) Signing up for a new Brazilian Jiu Jitsu gym membership as well as the first gi (uniform)

I’m going to try and really buckle down to get back to “break-even” for the coming months and dig myself out of this budgeting hole.

I’ve got a pretty solid system in place where my biweekly paycheck is divvy’d out as follows after the maximum 403b contribution:

  • $1000 deposited to the joint checking account, which is currently being used for extra biweekly payments on our 2nd mortage
  • $710 deposited to the joint checking for shared bills and house payment (my wife does the same with the same amount biweekly)
  • ~$455 deposited to my regular checking account for food and other discretionary spending

Once mid-June rolls around, I’ll have a bit more breathing room and plan to restart funding of my Roth IRA as well as resuming the buildup of my cash reserves (e-fund / car fund / _____(other big expense)). My wife and I have had separate finances ever since we got married and it works well for us. We regularly communicate and plan for shared expenses and other common goals that we have.

 

 

What apps or systems do you guys use for your budgets, if you have them?

What other specific tips/tricks/hacks do ya’ll use to stay on track?

 

 

*The application that I pulled these pictures from is called YNAB 4 (or YNAB Classic now). YNAB stands for “You Need A Budget” and I have been using YNAB 4 since June of 2015. I absolutely dig it. There is a newer version of this program currently available here called either nYNAB or just YNAB. I honestly have not used the newest version but YNAB 4 basically operates like a digital version of the “envelope system”, which is clearly explained by Dave Ramsey. I love the idea of the envelope system but I can’t handle all that physical cash crap so I use this program instead to achieve the same result!

Comments

  • Start Over Coder

    April 10, 2017 at 11:39 pm

    Good stuff! I have been using Banktivity software (changed from Quicken after I got a Mac) and it’s been working great for me. I really like how you have your paychecks auto-deposited into different accounts for different purposes. I set that up recently solely for the purpose of getting a sign-on bonus with a new bank account, but makes a lot of sense to make that work a little harder towards paying down debts! Keep up the great work =)

  • DoggedFI

    April 10, 2017 at 11:39 pm

    Appreciate ya Coder! I’ve never heard of Banktivity, maybe I’ll check it out! Yes, partitioning out my check helps me keep bills and discretionary spending straight in YNAB and in my head. Hah. I’ve been meaning to learn programming at some point as well! Took my first Ruby course on Codecademy a few weeks ago and it was pretty cool!

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