I can’t believe it. I really can’t. We’ve entered the last month of 2015! And what a month it is. Let the crazy Christmas spending commence! And then let us all regroup on January 1st. K, bye.
In all seriousness, although our spending will be preeety crazy this month (as I’m sure yours will, too), we’re still budgeting each and every extra expense. For our Christmas spending, I’m using a good ol’ fashioned piece of paper. I’ve written out each person’s name, the amount we plan to spend, and then I track each item we buy and its corresponding expense under each person’s name. I didn’t want to completely rework our budget app on our phones just for this month of super irregular spending, so paper it is. We’ve already finished up Sally and Winnie’s Christmas gifts, and they’re socked away in one of our closets. Now we just have to finish gifting for relatives, friends, and each other.
Aside from gifts, we’re going to try to stay on track with our budget otherwise. I don’t think we should have a problem with this, aside from our Food category. I’ll have to be extra vigilant tracking it. We tend to do more baking and special meals this month, and we’ve been eating out more often since we began our side business. So fingers crossed we can make it work.
And now, allow me to introduce our December budget:
December 2015 Budget
|Everything Else: $305
Child Care: $450
Total Expenses: $4,119
Church/Charitable Donations: 10% of income
Savings: at least 25% of net income, but planning on enough side income to have saved 50% at the end of the year
A few notes about December…
- I’m keeping our December budget separate from our gift spending this month. So the budget above really just shows what we hope to spend aside from our gift spending. On a related note, we’re staying home for the holidays this year, so we don’t have any travel expenses to incorporate into our budget this month.
- Starting in November, Sally and Winnie started being watched part-time, about 10 hours/week. It gives me a chance to focus completely on work stuff during the day, and it gives them some guaranteed social time during these colder months. It’s been a great transition for all of us. Sally really looks forward to her time away, and Winnie loves it, too.
- Our savings has been taking a hit since we started our side business. We have a steady income with Johnny’s consulting, and we’re not spending more than usual, but we are investing money into our business. So we’ll see how that affects our net worth come year’s end.
So that’s that! In less than a month, 2015 will be over, and we’ll get to see how our budget fared. As much as I love the Christmas season, I have a feeling I’ll be very ready to get back to a normal budget once January hits! How is your December budget (i.e., Christmas spending!) shaping up?