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Day 15) Halfway Through Where’s My Money Going Month

Welcome to Day 15 of Where’s My Money Going? Month! This February 2009, I’m challenging readers (and myself) to track spending manually for 28 days. Don’t worry if you’re late to the party, you’re still welcome to join. Consider tracking your spending into March.

Well, it’s just over halfway into the month. So today I’m doing a modified spending report on the week/month.

Last week, I was concerned about groceries, but now we’re halfway through the month and less than halfway through our spending budget. We’re also doing far better on gas than I’d anticipated. Should I let myself get used to lower prices or would it be better to plan for more and spend less?

The big thing this week has been medical expenses. I’d budgeted for our regular prescriptions, but there were a few surprises. First, we just changed to a new insurance company and haven’t yet met our deductible. I was expecting the pre-deductible cost to be the same as it was on the last insurance. But it cost $5 more. No biggie.

Then Micah had to get a prescription renewed. Our doctor moved to India (unanticipated) so he couldn’t call in about it, he had to see a new doctor. $25 copay. Then a bill that our previous insurance didn’t cover came in the mail. We double-checked, but it actually makes sense that it wasn’t covered because it was pre-deductible. $57.

Normally we have no extra medical expenses, so I’m not sure the best way to handle this. We could start putting a little aside each month as a medical fund, or I could just budget money that would otherwise go into savings. The first appeals to me a bit more. We could set a cap and simply stop contributing when it reached that…then start again when we had to withdraw money. We’re going to think this over.

How about you? How have your first two weeks gone?

This post was part of Where’s My Money Going? Month. Tomorrow is a guest post by a reader who explains his simple, non-techy money-tracking method and what he’s learned from it.

{ 3 trackbacks }

Weekly Round Up- CNBC On The Money | Good Financial Cents
February 15, 2009 at 3:51 pm
Weekly Round Up- Post Valentine | Consumer Boomer
February 15, 2009 at 8:54 pm
Spending Report - Where’s My Money Going
February 22, 2009 at 7:04 am


Bill February 15, 2009 at 5:11 pm

First, congratulation! This is a great thread of posts! And what a great theme this month?! But don’t let the name of my blog curry any favor…

I wish I had been more up-to-date on blog reading because my advice, if taken to heart, might have been more useful on the 1st although it is always timely IMHO.

So what is my advice? Well, I tried to distill it into a single blog comment but could not. So I made my own blog post:

For those uninterested in reading my post let’s just say that IMHO having a written budget first is far effective in achieving your financial goals than decades worth of expense tracking.

Thanks again for a wonderful theme this month. Keep up the great work!

DIY Joe February 16, 2009 at 12:37 pm

As for gas, I’ve created a budget category for gas that gets money every two weeks. That way there is a buffer should something unexpected happen to the price of gas (you can read more in my half time reply).

Also Mrs. Micah, I don’t think any of my links back to your articles are showing up in the trackbacks.

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