Well, I made it to the end of July, the first month of my Financial Independence journey! I am excited to share with you my July 2018 Zero-Based Budget Report!
I created a budget for July 2018 and I think I did a pretty good job for my first month in. As I did in my July 2018 Mid-Month Check-In, I am bringing the results to you in a YouTube video. Check it out!
July 2018 Zero-Based Budget Report
- I absolutely love using the One Big Happy Life budgeting spreadsheet. Unlike the EveryDollar app, the spreadsheet shows me everything at once: my income, expenses, overages, and remaining balances. As a matter of fact, it helped me realize that my July budget wasn’t actually a zero-based budget. As you saw in the video, I was under budget by $64.67.
- Despite applying the $64.67 to my grocery budget, I still went over by $11.22, bringing my total grocery spending to $225.89. That’s quite a bit over my original grocery budget of $150. I started using my Inventory Meal Planning spreadsheet the second week of the month and kept my grocery spending low.
- The extra income from my rolled change and dental insurance reimbursement was truly a blessing. I’m glad I didn’t have to go into my checking account reserve to cover all of those medical bill overages.
- Since I know that I won’t be getting random checks in the mail every month, I’m inspired to find ways to earn extra income on a regular basis. Can you say side hustle??
- Even though I went over budget in my restaurants category, I really enjoyed those outings and have no regrets. I see how important it is to keep budget burnout at bay by leaving room in the budget for fun experiences.
How did you do this month? Did you come in under budget, or did you go over? I don’t believe in using the word ‘fail’ when it comes to budgeting. Sure, we make mistakes. But, the good thing is that there is always next month. I’ll see you then!