Monthly Financial Update: April 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 #4 for 2020:


Last Year:
• We spent more on food & dining (!?!), utilities (cooler weather?), and auto and transport (saved a bunch on gas this month as well as wear & tear on the vehicles).
• We spent less on taxes (!!),
shopping (clothing, business expenses), gifts, interest fees.

In March
• We spent more on food & dining (more groceries, more restaurant spend), auto & transport (gas, NYC metro, parking costs, taxi), and interest fees.
• We spent less on taxes, shopping (clothes), bills & utilities, and gifts & donations (internet friend, bar tender).

Where We Spent Our Money:

Top 10 Merchants:

1. Taxes
2. Free People (clothes for me)

3. Costco (groceries, cleaning supplies, oil change supplies for the cars)
4. Amazon (gifts for kids, home improvement purchases, groceries)
5. Anthropologie (clothes for me)
6. Liquor store near home
7. Kroger (groceries)
8. Urban Outfitters (clothes for me, waiting on a return credit)
9. Utilities
10. Life insurance

Top 10 Categories:
1. taxes
2. Shopping (clothes, business expenses, software, business expenses, shipping)
3. Food

4. Bills & Utilities
5. Auto & Transport (oil, gas)
6. Gifts
7. Life Insurance
8. Interest Fees


Net Income:

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 card debt

How Did I Do On My Financial Goals for April?
. Pay taxes. They say the Americans who pay their taxes first will get financial help from the government first regarding any Covid-19 distress. (LIES.)
✗ Delete the entertainment app on my phone. ($2.99/mo)
✗ Pay the toll.
- Get money back from the tire warranty.
Talk to Justin about student loan 0% option and if it will help us or not.

* Loan Payoff Date 4/1/23 (date pushed forward by a month! YAY!)
* Credit Card Payoff date 5/1/21
* Emergency Funds: $4,139
• 401K $44,882.09
• Credit Scores: 743 (Justin), 800, 803 (me)

Overview of the Biggest Impacts This Month:
1. Covid-19! No driving to work, more time to put items up for sale online, and more time for online shopping. More groceries, less eating out. Getting a refund for our broadway tickets. Being on top of bills and paying them as soon as we receive our paychecks. 
3. Helping my brother move.
4. Having time to sell items online.
5.  Easter at home, due to Covid-19.

What went wrong this month?
1. Lines were jammed so husband was unable to pay his toll over the phone so he could get a discount.

3. We still haven't seen our money from the government for Covid-19. Supposedly an issue with the company we did our taxes with.
4. Buying clothing online that I didn't like and being unable to return it (eBay, poshmark).
5. Utilities are about to go up for us.

What went right this month?
1. I listed a bunch of items on Poshmark and Ebay and even made a couple sales!
2. My bosses continued to pay me despite my inability to work.
3. I had time to follow up with companies and get overpayment issues (or underpayment issues) worked out.
4. We put in our information regarding our tire warranty.
5. Having time to get Mint sorted and figure out what uncategorized expenses were.

Financial plans/goals for May
1. Finish going through clothes and posting them for sale online. 
2. Start going through other items and posting them for sale online. Maybe at least 1 a day for each day I'm under quarantine?
3. Follow airline updates and determine if we need to get a refund for our upcoming trip to Scotland.
4. Delete the entertainment app.
5. Consider changing mindspring account to yearly or cancel altogether.

Covid-19 has drastically changed our spending habits. We've cut down in spending in some areas and increased in others. We think carefully before going grocery shopping. And what is a hair cut? Holidays have even gotten cheaper.

However, all good (?) things must come to an end. Come June, my husband will be back on his daily commute. And me? I'll be back at work, presumably. Less or no time to list items for sale online.

While Covid-19 hasn't been good for everyone, I'm glad for all I have accomplished and for the time I've gotten to spend with my loved ones. I'm glad to have avoided illness so far.

Financial Resolution Goals 2020

Financial Resolution Goals 2019

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