Monthly Financial Update: July 2020


When reviewing my finances for 2018, I mentioned my desire to look at them on a monthly basis in 2019. Justin and I spent a little too much in 2018 and let our finances get the best of us. Maybe by looking at our finances monthly (and let you guys/gals keep me in check), we will do better this year.

That's the goal anyway.

Here's month #7 for 2020:

Spending:

Compared to Last Year –

green: this year, yellow: last year


Compared to Last Month –

compared to last year (green this month, yellow last month)



Where We Spent Our Money:

Top 10 Merchants:
1. Everlane (Justin clothes, many returns will be made)
2. Car insurance
3. Tire Rack (new tires, need to submit warranty)
4. Costco (groceries)
5. Lorimar Winery
6. ASOS (Mandy clothes)
7. Amazon (groceries)
8. Thunderbird Hotel
9. Alamo Rental Car
10. Electricity

Top 10 Categories:
1. Shopping
2. Auto & Transport (tires, traffic ticket)
4. Food & Dining (wine, birthday)
5. Travel (3 hotels, rental car)
6. Bills & Utilities
7. Fees & Charges
8. Gifts & Donations
9. Life Insurance
10. Car tags

Budgeting:

✗ Gas & Fuel – over
✗ Groceries – over
✗ Restaurants – over
✓ Hair Appointments - under
✗ Everything Else – over

Net Income:




Debt:

student loans

I had some issues changing a loan's information, so it looks like we owe more than we did at any other point this year, but we don't.

credit cards


How Did I Do On My Financial Goals for July?
✓ Get patterns listed on Poshmark.
✗ Go through more magazines (goal of 10?)
✓ Compare car insurance quotes.
✓- Roll quarters and take them to the bank.
✓ Make Macy's returns.

Numbers:
* Loan Payoff Date 8/1/24
* Credit Card Payoff Date 8/1/21
* Emergency Funds: $13,032
• 401K $53,359.99
• Credit Scores: 771 (Justin), 756, 754 (me): down for both of us

Overview of the Biggest Impacts This Month:
1. Car insurance
2. Travel across country (gas, rental car, hotels, wine, food)
3. Retail therapy: clothes purchases for both Justin & myself
4. New tires
5. Returns. Recognizing that clothes don't work and getting money back!

What went wrong this month?
1. Car insurance
2. Tires needing replacement; not submitting warranty info yet.
3. Not seeing returns posted as quickly as I'd like.
4. Retail therapy -- buying unneeded clothing.
5. Realizing some items I was hoping to sell online weren't in decent enough condition to be sold.

What went right this month?
1. Selling items - $100 worth of stuff
2. Finding out I still have a job!
3. Getting stains out of clothes I thought I might have to replace!
4. Spending less driving across the country than we would have flying.
5. Having $40 in quarters!

Financial plans/goals for August
1. Pay Knights of Columbus dues.
2. Submit tire warranty info
3. Decide on returns.
4. Continue listing things for sale online (maybe 5?)
5. Adjust budget based on work schedule.

Only a few weeks before kids go back to school; are you ready? Does the start of a new school year affect your finances? 

Financial Resolution Goals 2020


Financial Resolution Goals 2019