One Month Challenge: January 2009
It’s back! Here’s how the game works – go over your debit and credit card transactions and figure out just where in the hell your money is going. In today’s economy it’s a good idea not to take your eye off the ball for too long. (Cash is too hard to track so we’ll call it the margin of error – so all figures are +/- cash)
Rent, Daycare, and Medical: 59%
Groceries: 11%
Fast Food: 8%
Merchandise: 7%
Entertainment: 7%
Dining Out: 6%
Gifts & Fuel: 2%
Rent, Daycare, and Medical: This number is inflated due to our landlord requesting early payment for February but also mitigated by some previous overpayment on my part in previous months.
Groceries: It’s good that this is #2
Fast Food: Please don’t judge me too harshly - this includes my workday Subway lunch and Pizza for the family on Mondays for new episodes of 24.
Merchandise: This includes things like cabling, blu-ray discs, and whatever we get at Wal-mart (which includes some gifts, clothes, etc.)
Entertainment: Includes movies seen at a theatre, cable, and internet.
Dining Out: Went to La Spaghetteria a couple times.
Gifts & Fuel: I know, it’s a weird pairing but I had to collapse these two categories to be statistically significant.
Given that buying a newer car is in the offing I think I can make economies cutting back on dining out and maybe shifting some of my fast food spending to groceries where the money goes further.
I think I’m doing better than the last time I took the challenge back in June 2007. Back then Rent was 37%, Groceries only 5%, Fast Food a fat 14%, Merchandise nonexistent, Dining Out a fat 16% and gifts 5%.
How fare you?
