June has been a bit blah all round really, from not feeling too productive to not throwing enough money at debt to feel like I have made a difference.
One thing that I stuffed up in the May update was that I didn’t include my credit card amount in the total, I thought the amount I had paid off was a lot, that’s what happens when you don’t include them.
Talking about the credit card, I’m not sure if the older YNAB had a weird way of dealing with them, but I got my head around how nYNAB deals with them and I am liking it a lot. You use your credit card for pre budgeted items and tell YNAB that you are paying via the credit card, and it removes the dollars from that budget category and puts it into the credit card category, so you always have the money to pay the credit card, from the correct category while still using the budget, I put the money onto the credit card once it shows up on the internet banking.
It can make my statement look pretty messy with all of these payments, but I like having everything sorted as soon as possible, I’d like it if credit cards could update faster, a lot of payments come out on the first of the month, and seeing as the 1st is a Saturday, I won’t see those payments until Tuesday morning, banks are dumb like that.
Food Spend was Crazy
The reporting function in YNAB is pretty awesome, and sometimes it blows me away on what the hell I am spending money on. Now on a whole I have everything budgeted out and I feel I have most things covered, as time goes on there is less and less things that I need to re-juggle, I think I am getting better at being a responsible adult.
The area that I do seem to stuff up in is the food, and it’s not really the grocery stuff, it’s the other two categories I use to track food, eating out and bad food. Eating out is sometimes budgeted for, and sometimes not, depending on what crops up, and this is usually a meal in a café or restaurant, bad food includes fast food, chocolate and other crap that seems to creep in.
And for the month of June I spent around $100 on both of these categories, this is $50 each pay, and neither was budgeted for beforehand, but I somehow managed to cover that spending easily enough.
This money could and should have been spent on paying down debt, or going towards something more tangible than just some food.
What’s the plan now?
One area I sometimes falter at is when I’ve finished work and I am going home, it is easy to stop somewhere and buy something to eat, it’s all these small purchases that add up over time and unless you are tracking your spending you might be surprised where you money is going.
To combat this I’m going to leave my EFTPOS card and Credit Card at home, I trialled this for a bit last month, and it worked well. There were times I did need them with me for actual purchases, but with planning and thought put into my day as a whole, I know I can cut down fully on this craziness around food spending.
And when payday roles around I will be putting bigger chunks of money into either debt, or into an actual item that will bring me value, something I think about a lot more these days. I remember hearing on a podcast or reading online someone talking about their debt journey, and the one thing you can easily cut back on is your food budget, simple meals don’t cost a lot, and a small sacrifice now, can pay off in the long run.
How was the month of June for you? Did you learn anything about your spending? Let me know in the comments below.