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Archive for January, 2014

Annual Budget Report for 2013

January 25th, 2014 at 08:08 am

Annual Summary Daily Living Allowance parts of my budget for 2013

Here are my final totals for last year.

Eating out- $455---------- $497.84---------over target by $42.84
Groceries -$1625-----------$1390.22 ------under target by $234.78
Non-Food -$195------------ $85.01 ---------under target by $109.99
Clothes -$455---------------$65.00 --------under target by $390.00
Grooming -$260-------------$80.98--------under target by $179.02
Gas -$260------------------- $173.81------- -under target by $86.19
HH items -$520-------------- $504.44 ----- under target by $15.56
Fares -$195-------------------$146.76 ------- under target by $48.24
Entrainment -$195-----------$79.50-------- under target by $115.50
Garden-$195------------------$158.40-----------under target by $36.60
Gift & Donations -$455-------$262.68 ---------under target by $192.32
Medical & Diabetic-$910------$1999.54 -------over target by $1089.54
Misc. -$130--------------------$2.00 -----------under target by $128.00
Personal Allowance-$1170----$648.43 --------under target by $521.57

Daily Living Allowance allotted amount for 2013 was $7150 and I spent total $6094.61 under target by $1055.39 I will review some categories for 2014.

Even with being over in two categories, I still manage to come under my budget allotment for 2013.
I had dental work done with no rebate for one of them. Going to a Hotel for Christmas dinner was another expense I didn't count on.

This does give me the idea that I am subconsciously set myself amount to spend then holding back on some things if I think that I have to cut on my spending because I spent a lot more in one area that was needed like the medical with a lot of pocket expense or having major renovations done it would have to be a lean year with another lean year in 2014.

One thing this summery proves that averaging out over whole year is better than worry if you go over month as you can try to cut on other months.

Ok this Daily Living Allowance is the area that I will be working on to stretch and find any extra money I can. I also am looking at cutting back other on bills where I can. We will have a very large hike in medical and household insurances this coming year as I haven't received the bill, I don't know how much it will be as yet!

I know that my medical out of pocket costs will much higher for 2014 in there will be Dentist, 2 specialists visits with out of pocket. So I will just track out of pocket medical, medicine and vitamins, glasses and diabetic section in this section of Daily Living Allowance. Allowing around $1500 for these items in next year tallies.

No Spending Days 174 of 365 days

Strategy - Review your bills every six months that you are still saving money with your changes that you made since renewed or changed bill companies. Change your habits if you can’t change the company.

13th Monthly Financial Summery for 2013

January 19th, 2014 at 06:50 pm

Here is my Financial Summery for - December period.

I have updated my Excel finally so here are the figures for last month I have been quite busy here.

This for period of 28 days each as I work on 28 day cycles, my dates may be out to calendar months so here are the figures that will bring it up to date as its very near the end of next 28 day cycle.

Reviewing my monthly daily living allowance

This is my review for last month's budget.
These are the categories for this challenge.

Items === Approx. Budget===Spent

Eating out===$35=====$15.30
Groceries===$125=== =$106.83
Clothes ====$35======$34.00
HH items===$40=======$21.46
Fares== ====$15
Entrainments== $15 =====$26.50
Garden =====$15 =======$47.90
Gifts & Donations ==$35 ===$37.48
Medical & Diabetes Expenses ===$70====$11.90
Misc ======$10
Personal Allowance =$90 ===$4.00

Note only one amount is a No Spend

No Spending Days 13 of 28 days

Budgeted for this period $550 spent $307.87 under by $242.13 on general spending.

My watches required new batteries that came out of clothes were an out of pocket expense of $34.00 and I never spent much of my personal allowance. Personal allowance covers health drinks, lotto, books, stamps, craft and hobby supplies.

Eating out including meals out with family and friends, we all go Dutch.

My credit cards are still paid in full each month; it was $245 this period.

Grocery allotment $125 for each period it was under by $18.17 this period.
I had to watch my spending this period as my outgoing on bills and major projects were over $16000 this period. That they all have been paid for now.

Strategy - Do remember what you have stored before you go and buy more of the same.