As expected, June was also a difficult month when it came to my savings goal. I kept things in check where possible but there were some larger expected expenses that added up and affected my total savings. After looking at my target budget numbers again I think that it may be hard to keep my savings rate around 40%. I am still going to keep this as my goal but am coming to realize that it might be a stretch.
Many of my regular expenses actually came in under my target budget but there were a few larger expenses that threw things off. As mentioned in my previous post we attended a wedding at the end of the month. Although Mr. SFF paid for part of these expenses it did affect my numbers as well. We also attended a baby shower so the total we spent on gifts for the month was much higher than my target numbers.
I also booked lodging for my August Spartan Race in Ottawa through AirBNB and that full amount was already charged to my credit card. We are renting a condo with three bedrooms and will be splitting to costs but for now I am eating the entire cost for the next 6 weeks. Hopefully this means I will be able to make up some ground in August when I get paid back. (Want to give AirBNB a try, sign up here for free and earn $25 towards your first booking!)
One thing I have been doing to help with income (and reduce clutter) is going through our house and selling thing that we no longer need. I dropped some things off at a local consignment store and picked up a check for $57 this month for three items I sold. There are still some items for sale there so hopefully with the upcoming holiday weekend I will be able to sell some more items. I have also been doing some Ebay listings which are more time consuming and a pain in the butt but I have been able to sell a few items. As the Ebay fees are not taken out until the following month I didn’t move the money from my Paypal account for my May sales until June. But the total for my May sales, minus all fees, was $33.85. I put the money from my consignment store and Ebay sales straight into our savings. I have sold some more items on Ebay in June but they will not noted until July once all of the fees have been taken out. I also have dropped some less valuable items off for donation which does not affect my actual bank account but we will be able to take a tax deduction so this helps in the long run.
When I totaled everything up and moved a little more money to my savings at the end of June I was able to save a total of 32% of my take-home pay. This is short of my 40% goal but I am hoping when I get reimbursed in August for the AirBNB rental I will be able to make up the difference. I can be amazing how just a couple of things can completely throw off your budget when you don’t make a ton of money. But every little bit I do helps so I am going to keep plugging along.