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April Spending Analysis

May 21st, 2007 at 12:03 am

One of my goals for 2007 is to live off my monthly graduate student stipend while paying $150 / month into an IRA. All other money I receive (odds jobs and gifts) is funneled into my high yield savings account.

My April expenses looked like this:

Auto: $47.00
Clothing $109.97
Dining $18.82
Entertainment $7.00
Gifts Given: $88.13
Groceries $29.65
Joint Expenses $900.00 (includes rent, utilities, food, gas, etc)
IRA Contribution $150
--------------------------------
TOTAL EXPENSES: $1303.79
Total March Stipend $1296.00

Uh oh! I overspent my stipend by $7.79.

A few explanations, I went to three baby showers in Aprilóhence the high gifts given category. One of the showers was out of state. I rode with a friend, and gave her $47 to cover gas and tolls (typically I donít have an ďautoĒ category since the car expenses shard my Mr. Bean and I go into our joint expenses). Clothing was high this month because I bought a new business suit.

Once again, I failed to live directly off my stipend, but this month was at least closer to target than last month. In reality, I wasnít really in the red because I had other sources of income during April (primarily babysitting, ~$175.00). I also traveled for a work conference in April and didnít spend my entire per diem, so I should profit ~$50 off that once the re-imbursement is made.

Still, the point is really being driven home how careful I need to be if I want to stay within the means of my current income!

1 Responses to “April Spending Analysis”

  1. fairy74 Says:

    You'll get there, some months are harder than others...good luck! Smile

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