Today I do my monthly budget review for April. I realise that I have been less preoccupied with keeping on budget than normal. So I’m very curious to see how my month went and what I might need to change for the upcoming months.
- I start by reviewing my personal expenses
- I reviewed my sinking funds & jars
- I reviewed my debt
- I reviewed my emergency fund
First I start by reviewing my personal expenses
In April I budgeted €998,06 for my personal expenses. Taking into account that my gym and movie membership was put on hold I expected my actual expenses to be less. My actual expenses were €962,75 in April.
There was a difference between my budgeted and actual budget of €35,31.
- gym membership is normally €21,-. Because of the crisis I cannot go to the gym so I put my payments on hold and didn’t need to pay this month
- movie membership is normally €21,-. Because of the crisis I cannot go to the so I put my payments on hold and didn’t need to pay this month
- health insurance increased this year to €129,71 but I accidently budgeted the old amount of €123,02
Second I reviewed my sinking funds & jars
My sinking funds are filled and on are track.
My eating out and personal care jar are still full.
My grocery jar was empty before the month was over. I paid €52,48 more than I budgeted for my groceries and used my eating out jar to compensate.
I also bought a new desk and some cabinets for working home and used all my play jar and needed an extra €177,61 to pay for everything.
Next, I reviewed my debt
At the moment I only pay the minimal amount of €59,71 towards my student loan. My extra payments are going towards my emergency fund. My current balance is €5.527,78.
Last, I reviewed my emergency fund
I added the €900,- I normally pay towards my student loan to my emergency fund. My current balance is €1.900,22. I will keep adding till I reach €6000,-.
How did you do on your budget this month?
Read my previous post about setting my budget up for April here.