Budgeting, Medical Expenses, No/Low Buy Update, Prayers, Retirement Journey

MEMORIAL DAY and a May Budget Update.

Every Monday during 2022, I am posting an update on what I spent for the week (variable spending only) as a way of keeping myself accountable for my impulse spending. Also, to see my true savings, I am tracking items I was tempted to buy but didn’t. 

https://parade.com/1021399/marynliles/memorial-day-quotes/

As the weather changes and there is more sunshine, my mood tends to lighten up. And, invariably, with my happier mood comes more spending.

As we move closer to a retirement date, I find it easier to pay attention to my savings versus my spending. And, as long as I’m meeting my savings goals, I’m free to spend the rest.

And that is what I did in May.

Below are all my variable expense categories. Two of them are unusually high, and one of them was simply out of my control. Can you guess which one that was??

Hint: Auggie.

Below are my variable categories and the amount I spent in each.

  • Groceries: $491.52
  • Eating Out: $145.12
  • Household: $94.41
  • Personal Care/Hair: $332.95 (make up purchases, hair cut and color)
  • Misc.: $36.72
  • Clothes: ($15.92) a RETURN
  • Auggie: $755.96 (dogfood, dog sitting and trip to the Vet for a double ear infection.)
  • Gasoline $126.55
  • Roadtrip to NY: $165.80
  • Gifts: $392.19 (includes most of June’s birthdays)
  • Charitable/Spontaneous Giving: $158.18
  • Mom & Dad: $182.24 (Supplies for my Mom and Dad)
  • OTC Meds: $121.92 (Vitamins, pain relievers)
  • Medical Expenses: $455.27 (my foot! and some prescriptions)
  • Personal Spending: $15.96 (a pen refill)

Total Variable Spending for May: $3,458.87 (this amount must make you feel great about your budget! I aim to please…)

Wow. When you add it all up, it seems like a ridiculous amount to spend. However, when you look closer — everything but the medical expenses, gift categories and pet costs are within a decent range.

I have no problem with gifts and giving. ESPECIALLY when it involves my parents. Vet costs, however, are outrageous. One might want to think twice before getting a pet – the costs could be quite prohibitive to a budget.

Also, sadly, my foot is not healing. The X-rays show the fracture is still not fully healed. There is some bone growth, but not quite enough. Since there is still pain, a surgery may be in my future. Praying that my foot heals before the next visit because surgery is the last thing I want.

As far as our overall savings, our networth went up by $15,000 this month as the markets slightly recovered, I made a huge payment to our mortgage and put more money into our savings accounts.

I anticipate June to be about the same as far as total expenses, however, most of the spending will be in the travel category. ;). I’ll write about our travel plans in another post, as they have a lot to do with future retirement plans. Stay tuned.

Your turn. How was your May? Please share!

2 thoughts on “MEMORIAL DAY and a May Budget Update.”

  1. Hi Sharon, So sorry your foot isn’t healing. I can relate to your frustration, I am dealing with heel bone spurs that are very painful and have curb my ability to walk my daily three miles.
    Thank God for the stock market rally last week. I collected my dividends and then the stocks increase so I sold. I now have cash waiting for another opportunity.
    This month we celebrated my son’s 40th birthday and Mother’s Day at a gorgeous Victorian AIRBNB overlooking the ocean in Mystic , CT. The grand kids loved the Aquarium. Yummy lobster rolls!
    I stayed $225 below my monthly variable budget items and added to my savings even with this weekend. Savings came. on OTC medicines ,gasoline, energy and food. Sincerely, Lara

    Like

    1. Hi Lara,
      So sorry to hear about your bone spurs – that must be painful! Yes, the stock market is not as horrible as everyone thinks. I’ve looked at my overall gains and I’ve averaged 11 – 15% a year over the past 5. It was bound to ‘correct’ these incredible earnings over the past several years. Fear mongerers at their best (on the news). I’m optimistic even with our retirement fund ‘lows’ that we can retire comfortably. It sounds like you had a lovely Mother’s Day – I hear Mystic, CT is beautiful!

      Like

Comments are closed.