Author Topic: Easy way to figure out why im $300/month over budget for 2017?  (Read 2589 times)

FIREin2018

  • Stubble
  • **
  • Posts: 125
  • I did decide to Fire in 2018 @Age47! :)
Easy way to figure out why im $300/month over budget for 2017?
« on: December 29, 2017, 10:14:20 AM »
in dec 2016, i estimated that i will save $48k/yr ($4k/month) for 2017.
well, i just did 2017 end of year finances and i only saved $44k ($3.7kmonth).

any easy way to figure out where an extra $300/month is going to?

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 5984
  • Location: Earth
  • K Thnx Bye
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #1 on: December 29, 2017, 10:58:04 AM »
Look at your spending breakdown?

Which categories are over budget?

There's no magic to it. Your estimate was off, or you spent money without tracking it.

FIREin2018

  • Stubble
  • **
  • Posts: 125
  • I did decide to Fire in 2018 @Age47! :)
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #2 on: December 29, 2017, 11:18:52 AM »
Look at your spending breakdown?

Which categories are over budget?

There's no magic to it. Your estimate was off, or you spent money without tracking it.
so no easy way...
:(

(how do you do emoticons on this forum?)

jim555

  • Handlebar Stache
  • *****
  • Posts: 2316
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #3 on: December 29, 2017, 11:29:02 AM »
My guess H&B.

slappy

  • Pencil Stache
  • ****
  • Posts: 980
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #4 on: December 29, 2017, 11:35:31 AM »
Maybe your bank and/or your credit cards offer some sort of breakdown for the categories you spent money in. It could be a challenge if you use multiple cards, but it may give you an idea, particularly if there is an outlier. Moving forward, you could consider something like Mint to keep track of everything.

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 5984
  • Location: Earth
  • K Thnx Bye
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #5 on: December 29, 2017, 11:44:25 AM »
My guess H&B.
Haha!!

Sent from my SAMSUNG-SM-G930A using Tapatalk


Tuskalusa

  • Bristles
  • ***
  • Posts: 442
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #6 on: December 29, 2017, 11:48:33 AM »
I use YNAB. With the New Year starting, maybe you could start with putting in s monthly budget and tracking your expenses to see where you go over.

2017 is over. You did a good job saving. Rather than focus on the shortfall, maybe just start fresh and see if you can improve, going forward.

Melf

  • Stubble
  • **
  • Posts: 137
  • Location: Raleigh, NC
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #7 on: December 29, 2017, 11:56:05 AM »
The question is 'Did you spend the extra $300/month or did you not have enough income to save the $4K/month beyond your expected expenses?'.

FIREin2018

  • Stubble
  • **
  • Posts: 125
  • I did decide to Fire in 2018 @Age47! :)
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #8 on: December 29, 2017, 01:49:41 PM »
Maybe your bank and/or your credit cards offer some sort of breakdown for the categories you spent money in. It could be a challenge if you use multiple cards, but it may give you an idea, particularly if there is an outlier. Moving forward, you could consider something like Mint to keep track of everything.
thx. will try mint

I use YNAB. With the New Year starting, maybe you could start with putting in s monthly budget and tracking your expenses to see where you go over.

2017 is over. You did a good job saving. Rather than focus on the shortfall, maybe just start fresh and see if you can improve, going forward.
not free :(

The question is 'Did you spend the extra $300/month or did you not have enough income to save the $4K/month beyond your expected expenses?'.
yes. easy to track take home pay from  paystubs

FIREin2018

  • Stubble
  • **
  • Posts: 125
  • I did decide to Fire in 2018 @Age47! :)
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #9 on: December 29, 2017, 03:35:19 PM »
Moving forward, you could consider something like Mint to keep track of everything.
so trying mint.
it is good for monthly expenses.
horrible if quarterly (water bill),  1/2 year (auto insurance, property taxes) and yearly (home owners insurance).

ie:
if homeowners is $450/yr, that should be $37.50/month.
but if it's due in July, then it calculates as if i have have 8 months to pay  instead of 12 months because  today is Dec.
so it budgets $56/month thus the budget isnt accurate.

a few $ is minor if it was the only item but i have a few expenses that are not monthly.

my budget should be $1600/month.
Mint says $2000/month.
« Last Edit: December 29, 2017, 03:38:17 PM by FIREin2018? »

SwordGuy

  • Walrus Stache
  • *******
  • Posts: 6764
  • Location: Fayetteville, NC
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #10 on: December 29, 2017, 04:48:20 PM »
[my budget should be $1600/month.
Mint says $2000/month.
And yet, despite being wrong, Mint is $200 a month closer to what you are spending than you are... :)

Tuskalusa

  • Bristles
  • ***
  • Posts: 442
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #11 on: December 29, 2017, 06:42:31 PM »
YNAB isnít free, but itís downright reasonable, especially if you pay for 1 year up front. If it helps you find $300 per month, probably not a terrible way to spend a little money.

FrugalSaver

  • Pencil Stache
  • ****
  • Posts: 737
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #12 on: December 29, 2017, 08:22:55 PM »
X + y = 6

Solve for x

Stache team.....UNITE!!!

FIREin2018

  • Stubble
  • **
  • Posts: 125
  • I did decide to Fire in 2018 @Age47! :)
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #13 on: December 30, 2017, 11:10:06 AM »
[my budget should be $1600/month.
Mint says $2000/month.
And yet, despite being wrong, Mint is $200 a month closer to what you are spending than you are... :)
lol

guess i got to break down  quarterly (water bill, etc),  1/2 year (auto insurance, property taxes) and yearly (home owners insurance) expenses and manually enter it as monthly :(

Shropskr

  • Stubble
  • **
  • Posts: 166
Re: Easy way to figure out why im $300/month over budget for 2017?
« Reply #14 on: December 30, 2017, 11:56:25 AM »
personal capitial  is free and to ME easier than mint.