Monthly Savings Update – June

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.

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