May is here! New York City has done a 180 in the past few weeks and is really making us fall in love all over again. Full disclosure, I haven’t enjoyed it like I should since I’ve mostly been indoors tending to a newborn. But when I do get out, the city startles me with its springtime charm.
April Budget Recap
Another confession: our budget tracking got away from us the last, oh, 11 days or so of April. Can’t imagine why! My daily to-do list currently consists of feeding and clothing my children. And some days even that is iffy — like when Sally ran around the house naked for far too long after her bath last night. So our budget tracking got neglected, although we’ve been too preoccupied to spend money since Wynn arrived. But we plan to update it and our net worth this weekend.
And while Wynn was born in April, all of our expenses surrounding her birth are actually going to come a’knockin’ in May. Which brings us to…
May 2015 Budget
|Personal & Clothing: $120 (rolls over monthly)
Everything Else: $305
Gifts: $145 (rolls over monthly… currently at $585)
Vacations: $200 (rolls over monthly… currently at $600)
Total Expenses (minus rent): $2,206
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
*Living in NYC, our rent is a bit of an anomaly (major understatement) compared to our peers in the rest of the US of A. To give you an idea, it’s more than twice what we were paying in Utah. Yeahhh. But that just means the rest of our budget is that much more essential this year.
May Budget Changes
- We don’t have any changes to our budget this month, but we will have some upcoming details on our hospital bill and our supplemental insurance payout (through Aflac). We also recently received Sally’s hospital bill, which cost just as much as Wynn’s birth, so soon we’ll share how these expected and unexpected expenses will affect our budget/savings for the rest of 2015.
- One quick glance at our Personal & Clothing category, and it’s clear Johnny and I have been too busy to spend money on ourselves this year! I think we should remedy that this month, that is, as soon as I’m back to wearing non-maternity clothing :).
It’s the first of May, which means no one is behind on tracking their May budget! We’re all starting new today, so what do you say we all keep track of our budgets this month? I will if you will… What budgeting category is giving you the most trouble in 2015?