Thriftism's Monthly Budget - June Report

Happy Half Year! With a new month rolling around, that means we need another budget update. For a quick reminder, we run our budget solely on my income of $2,400/month which gives us a gross income of $31,200. We do not include health insurance in our budget as ours is currently covered by our jobs, but if this was our household income we would also be taken care of by insurance subsidies. We do not include all discretionary spending such as traveling or major home renovations, but we do include all entertainment, grocery, dining out, and every day expenses. It is our essentials budget that we live on before adding in trips! If we can do it, so can you!

The Budget

Our goal budget is balanced with total income minus expenses equal to zero. Numbers in red are expenditures, while black is income. The green background indicates under budget. Red squares point out our overspending. 

We did change up the budget a bit to reflect that the student loan is paid off. We split that amount between miscellaneous expenses and increased the savings goal. 

WINS ✅

We had another good month for groceries and eating out. We were able to reduce our monthly average again and it is now below $175 for groceries. Our eating out budget came from Zumba on Tap and Race buying pizza with friends.

We didn't buy any clothing in June and our only entertainment spending was on Netflix. We did have miscellaneous spending, but remained under budget. This helped us lower us monthly averages to be on track or almost on track for all three areas.

Our household spending was under budget this month too! We had another month of keeping utilities under budget. We're not quite there yet for the yearly average, but getting closer every month. We will need to keep doing this to balance out for the year - this may be difficult as our internet cost is increasing by 8% this year. 

We did have to pay some in car insurance to cover Race's new (new to us) car. We still stayed under the monthly budget. Gas was incredibly low this month. No in-person tutoring meant much less driving. Plus, I didn't go anywhere besides the store and work this month, so I only had to fill up once- though I will need a fill up right at the beginning of July.

NEEDS WORK ❌

Our maintenance costs were up for vehicles because we had to pay sales tax on Race's car. 

We did not need prescriptions this month, but I have continued buying Zyrtec to combat allergies. Since they only sell this in something like a 26 pack, I did have to buy two this month. 

LAST THOUGHTS

We still went over budget in a few areas, but stayed under overall. We were able to increase our savings a lot and get back on track for the year. In fact, rather than having a deficit, we are almost $46 under for the year (balance or $0 is the goal). Since we had excess, this money increased our savings. Still doubting our budget? Keep following along. 

Be sure to check our the Thriftism YouTube Channel for spending updates and budget report videos!