At first glace, I was disappointed with how much money we seemed to have spent in November (click on spreadsheet below). It was more than last month and more than we earned. In fact, we had to dip into our savings to cover all of the bills. However, $1,296 went to paying for 12 months of our truck and condo insurance, $1,000 went into savings for my wife’s taxes while she is 1099, and $475 went to paying down our 0% interest credit card balance. If you subtract out this $2,771, we weren’t to far over budget.
In addition to our standard income, this month my wife received an extra paycheck (three total) as well as a $491.22 commission check and $182.87 in mileage reimbursements. We also supplemented our income with a $25 HSBC credit card cash back reward and a $50 Chase credit card cash back reward.
Next month should be a standard income month, 2 paychecks for my wife and 2 paychecks for me. My wife may also be receiving a commission check for a few hundred dollars next month which we will deposit into savings.