February Monthly Progress: Savings $0.

Since becoming aware of our current finances, my husband and I are trying to budget, and carefully plan where to spend our money. Our savings will depend largely on my profits from my online store, so we are really trying to live off his income only. Thankfully we are far from starving ( actually according to our BMI we are fatties lol), live in a nice home with a fairly low mortgage, and we both have similar spending habits and goals.

How did we save this month? Here are some ways we cut back:
1. My husband decided to start baking bread at home. I forgot how awesome his bread making skills are because our home baked bread tastes considerably better. He also realized how much he misses baking at home. He currently sets aside 1 or 2 days a month to bake enough to last us a whole month.

2. I set an inventory budget per month to $400. This was hard at first but at the end of the first week it was nice I was able to pay a few bills early. I frequently remind myself that if I missed a great item one week, surely I will find another next time. I normally spend $600+ on inventory.

3. We prolong our wants. We decided to wait until near the end of February for our discretionary spending. It was that time of the year to get my roots touch up. I pushed it to next month. If I keep prolonging root touch ups, and hair cuts, my hair care spending would be less at the end of the year. Thank goodness my roots isn’t a hot mess yet.

My husband waited a few weeks to see if he really wanted  this new pipe he has been ogling. He ended up finding another pipe that cost less.

4. Cut our entertainment/eating out budget to $100. We are the couple who LLOOVVEESS movies. That’s because our theater has lazy boy chairs and serves alcohol. We went to the movies ONCE instead of twice. We ate out a few times too but carefully choosing places we haven’t tried and meals we can share.

5.We decided to grocery shop only once every two weeks instead of every week. This has forced us to be creative “chefs” using current pantry staples. We started to become creative with leftovers too. Did you know roasted butternut squash and scrambled eggs taste really good? Also set a budget of  $250 for groceries and household things. We were under budget on this one :). It’s so nice to not go grocery shopping every week.

6.For valentine’s day we set a budget for each other and made meals at home. We’re not big on celebrating Valentine’s day but doing something that’s just for us was nice. I used a coupon on his chocolates, and bought a Cake Boss book used on Amazon.com. The Pièce de résistance Gift is Grand Theft Auto 5. Yes I know. I’m such a good wife. Was able to get it for $39.95 at Target instead of $59.95 . He gifted to me Sims 3 Into the future. He truly is my husband. Flowers? I like them but he gifts them to me throughout the year. So no flowers for V-Day. I didn’t mind. Our 3 cats would be all over them anyways.

7. Whenever we wanted to buy other things we didn’t really need, we casually remind each other it can wait until our savings is funded. We want so many things but there is nothing wrong with waiting to save up for them.

How did we do for the month of February? Better than January. In the past we were scrambling to find money to pay both our credit cards. This month we didn’t worry about that. We weren’t able to save anything for March ( shorter month, and had to pay last month credit card cycle) but our upcoming credit card bill is so much lower than last month. I’m hopeful that by April we will have some savings. We are also planning to put our entire tax refund in our savings so perhaps the end of March’s monthly progress will be better.

My husband feels a little defeated because nothing is in the savings. I had to remind him this month we didn’t scramble to pay our credit card bill and since our credit card bill is nearly half of what we usually spend we will most likely have something by April. We’re still sticking with the monthly budget for our variable expenses.

In the mean time I’m also looking for a part time job. I really like having my eBay store open because now I’m at the point to know what is the minimum I’m making. A part time job would really help pad our savings faster. Can you believe it’s so hard to find a part time job (Luxury sales) so I’ve been trying to look at different jobs and I’m forcing myself to apply to two a day. I’m not in a rush.


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