February Finance Chat

Well, that’s one month down for 2015! How did I do with my financial goals for the month? Not great. I thought being on holidays would help me save money, but I did go out a few times and one bout of shopping was enough to put a bit of a dent in my savings. Ah well, live and learn. Using my monthly budget book was a HUGE eye-opener for me. I think I’m going to change things up slightly though, and start tracking my spending day-to-day to help me when budget time comes around at the start of next month. Here’s how I went with my January goals –

– start using my monthly budget book to track finances for the month
– continue to put money into my travel fund, and only remove what is absolutely necessary for our trip down south at the end of January
– cut back on unnecessary day-to-day spending
– keep track of everything I spend for the whole month

And here are my goals for February –

– cut back on unnecessary day-to-day spending (which includes buying coffee and lunch on the way to work each day)
– continue to use my monthly budget book to track finances
– change my mindset to be all about SAVING
– cut back on entertainment costs (this was one of my biggest downfalls last month)

What are you financial goals for the month?

4 Thoughts on “February Finance Chat

  1. Gemma (g3moStone) on February 10, 2015 at 7:40 pm said:

    I downloaded the iPhone app iXpensIt to start monitoring my spending on various categories from about April last year (probably another healthy habit inspired by one of your posts – my planner ships soon btw!). It has functions that generate pie graphs and other reports for where my money goes as well as keeps me from overspending each pay packet.

    I’ve been amazed at how I’ve kept with it and logged every purchase/transfer off my main account and looking forward to when I surpass the year mark and can really get an idea of how I spent my money in a whole year.

    In term of goals… I’m recovering from what was a very expensive January and I need to book accommodation and other costs associated with attending a string of weddings in Feb/March. But they’re all going to be great weddings so I can’t wait. Still need to buy another dress, accessories and some shoes… and some planner stickers…

    • I’m going to check out that app now… It was a bit of a hassle to remember/record my whole month’s worth of purchases in one go, so that would definitely be helpful!

      • Gemma (g3moStone) on February 16, 2015 at 9:00 am said:

        Yeah I tried a few and settled on that one – just to monitor my main account. Others would probably be best if you’re monitoring multiple accounts or for auto backups. I’m in too deep to change now!

        I had to put a bit of time into completely customising all the categories and getting rid of subcategories and choosing icons etc, but it has been worth it. Loan and credit card repayments are definitely my biggest expense, but my beauty and wardrobe spending hasn’t been as bad as I thought!

        • Sounds like you’re doing pretty well! I think keeping track of everything is the first step to truly being in control of your finances.

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