Monthly Financial Update: February 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 #2 for 2020:


green = this year, yellow = last year

Last Year:
• We spent more on personal care.
• We spent less on everything else

In January
• We spent more on bills & utilities, auto & transport, shopping, and gifts (bday gift,
• We spent less on food & dining, travel, shopping, entertainment, fees & charges, taxes. and personal care.

Where We Spent Our Money:

Top 10 Merchants:

1. (tickets for 4)
2. Delta (flight to NYC)

3. Kroger (groceries, wine, cocktail glasses, candy)
4. Electricity
5. Trader Vic's (restaurant)
6. Anthropologie (clothes)
7. Doubletree Orlando/hotel Starbucks
8. Tiki Convention
9. Nikolai's Roof (restaurant)
10. The Paris Photographer (photo session in Paris)

Top 10 Categories:
1. Food & Dining
2. Travel
3. Shopping

4. Bills & Utilities
5. Auto & Transport
6. Entertainment (Travel convention, tiki convention)
7. Financial
8. Gifts
9. Fees & Charges
10. Taxes

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

Net Income:


student loans

credit card debt

How Did I Do On My Financial Goals for January?

✓- Make returns.
Book flights for NYC
and EDI to CDG
. Open Chase account and make $300.
Complete taxes.
Try to stay below food spending,

* Loan Payoff Date 10/1/22 (sooner than last projected)
* Emergency Funds: $25,498
• 401K $48,685.91
• Credit Scores: 747 (Justin), 799, 803 (me)

Overview of the Biggest Impacts This Month:
1. Traveling to Orlando to see Justin's sister
2. Flight to NYC
3. Purchasing clothes
4. Signing up for multiple conventions
5. Restaurant spending

What went wrong this month?
1. Lots of eating out. We should spend less on that.
2. Owing a bunch on taxes. (We haven't paid them yet, but it's coming.)
3. Getting charged for an app I didn't want to keep.
4. Not having the time or taking the time to return items (to Belk, specifically).
5. We will be owing even more in bills during the coming months.

What went right this month?
1. Lots of friend time. It brought on extra spending, but I was grateful to meet new people and make new friends. <3
2. We spent less than we made.
3. We finished our taxes.
4. There was at least one category in our budget we spent less on.
5. Price adjustment on hotels and some clothes!

Financial plans/goals for February?
1. Make Belk returns.
2. Book flight for EDI to CDG
3. Look at refinancing my loans at 1.94% with Earnest
4. Figure out spring break plans for April.
5. Submit warranty info for tire.
6. Watch spending in NYC.
7. Consider looking at the budget to see where improvements and changes can be made.

The more stressed I am the more I spend. And while I expected spending to be down in February, we ended up spending more than we had in January when we purchased experiences with friends. Dinners out, trips to NYC and Orlando, and conventions made the list of must-dos when they may not have even hit our radar at all in months prior. So, there are regrets from spending too much on those things, but there is also the enjoyment of having new friends, learning to be more social, and lots of personal growth that occurred in February.

Financial Resolution Goals 2020

Financial Resolution Goals 2019

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