Jun 30 2008

June recap and July goals


When I created my goals for June, I wasn’t specific. I didn’t have a particular snowflake goal I wanted to reach. This was a big mistake.

Without a target, how am I supposed to hit the mark?

I need to establish a tangible savings goal if I actually want to reach it. I had a decent month for snowflaking, but who knows if I could have done better if I set the bar a little higher.

$6 Pinecone research

$20 ING Direct referral bonus

$17.17 ING account interest

$8.98 from Rite Aid rebates

$141.43 Blog ad revenue

$37 The electric bill this month was $43. I typically have been budgeting $80 for it, since it was around that amount during the winter. We put the difference in our savings.

Total: $230.58

Gift card: $10 Target gift card from Ebates referrals

I did have a set goal for our emergency savings account. I hoped we would increase our emergency savings to 85 percent completed (up from 70 percent at the beginning of the month).

We came within spitting distance of that goal, but didn’t quite reach it. Fell just about $73 short. It was a lofty goal when we set it, and I’m actually glad we got this close!

We have some additional expenses in July (ones I forgot to budget for) so we’ll need that extra money to cover our renters insurance premium, get an oil change, and pay the 1 percent quarterly wage tax for the area schools. Grr.

In the future, I hope to avoid being surprised by these regular expenses. I’ll treat our renters insurance just like I treat our car insurance: I’ll create a savings subaccount in ING and deposit 1/12 of the annual premium into my savings account each month. That way, I’ll have the money ready to go, it won’t affect our normal budget, and I’ll earn a tiny bit of interest on the amount.

I’ll do the same with the wage tax.

Think of it as the electronic version of an “envelope system.” Works for me!

Another goal I had was to spend some of my birthday money on myself. I haven’t yet, but I do plan to use some of it to buy maternity clothes. I’m at 14 weeks tomorrow, and still wearing my regular clothes just fine, so that shopping trip will have to wait.

Goals for July

Find at least $250 in snowflakes, or non-regular income money. Instead of spending it, we put it toward our savings account.

Increase our emergency savings to 95 percent complete. We’ll do this by keeping our expenses as low as we can stand, “snowflaking” extra found money into savings, continue my freelancing work, and looking for additional ways to set aside money for rainy days.

Best wishes reaching your goals this month!

Posted under Uncategorized | 6 Comments »

6 Responses to “June recap and July goals”

  1. Sounds like a good plan and although you didn’t reach your goal for the emergency fund, you very well met the intent of the challenge. Keep up the good work!

  2. Setting goals and achieving them, a woman after my own way of thinking (and doing!).

    Janet Giacoma’s last blog post..Traditional Vacation Time – Is It For You?

  3. It always seems that no matter what goal you set at the beginning of the month, life has a way of getting in the way.

    In our budget, we’d been budgeting for it, but we didn’t realize that our $500 auto insurance payment was this month. oops..! that threw a wrench in things!

    Peter’s last blog post..Money Matters

  4. if you don’t mind my asking…how did you earn so much on blog ads?! to be more precise…how can i do the same?! haha. just curios. if it’s a secret, i understand :)

    tiffanie’s last blog post..i snowflaked $3.60 from dollar round up

  5. Hey Tiffanie–Check your e-mail! I just sent ya something.

  6. I have been reading your blog every day for the past few weeks and I just wanted to say thank you…you are an inspiration to me!

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Hey! I'm Kacie, wife and mother of 3. I write about my family's finance: how we save money, improve our spending, and plan for the future.

I hope I can inspire and encourage you to improve your situation. See disclosure.

I'm adopting a much slower-paced posting schedule, and treating this as a hobby blog now.

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