Budget Update: Oct 2016

This is my October budget update.  If this is your first time reading my budget updates, do read my other posts my debt freedom journey and my net worth update to help you understand my financial history and goals.

October was a very good month. I experienced lots of temptations but I remained steadfast, stuck to my budget and it worked. I was under budget by $37! Here is the breakdown of my expenses below.

  1. Bills and Utilities

Rent, Water, Sewage, Trash, Internet, Hulu, and Netflix are fixed expenses, while Cellphone, Gas, and Electricity are variable. For example, the electric bill of $62.95 represents a partial bill for August and the full month of September. My cellphone bill also varies because my provider (Project Fi) credits my account for unused data at the end of each billing cycle. This month, I got back $15 plus I had a credit on my account for $11, bringing my cost down to $31.74! Finally, my gas/fuel costs also vary, depending on how much driving I do outside of work.

  1. Food and Dining

At first glance, it may seem like I was over budget by $8.78. This is because October and a few other months have five weekends instead of four. I went grocery shopping five times in October and my weekly grocery bill on average was $34/week. I think this is doable because I am shopping for just myself.  I am working on a blog post on how I save money on groceries so do return back here and check it out.

  1. Personal Care

This category includes any purchases involved in beauty and grooming and miscellaneous personal care items. I find I always end up at or below budget in this category every month.

  1. Miscellaneous Expenses

Anything not included in the above categories will be captured here. This month, I purchased a much needed chef’s knife, and some indoor plants for my apartment. I also spent $20 on pizza when I had guests over.

october-budget

In conclusion, my total expenses were $1,565.43 with $34.57 to spare. Based on this month’s expenses, I have decreased November’s budget to $1550, one step closer to my 2017 goal of $1400/month.

What were your budget busters this month? Please share them in the comment section below!

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