It's nearing the end of the month and most of the bills are paid. I still have to pay my homeowners association dues and the the trash bill. The total of both of those will come out to a little less than $200. How do the numbers add up for March? Keep reading.............

March Budget:
  • Budgeted Income: $7590.00 (Composed of paychecks, rental income and Georgia Tax Refund) Total Income to Date: $5933.68
  • Budgeted Expenses: $5568.95; Total to Date: $4050.75
  • Current Income - Expenses: $1882.63

The only remaining income for this month is my last paycheck for March (I am paid bi-weekly). The only other expenses are the above mentioned bills, miscellaneous expenses and an additional $500 that I need to add to my Freedom Account. Thanks to my Georgia state tax refund this month, I added an additional $2500 in income.

Once all of the above income and expenses are accounted for, I should have about a $1500 surplus for the month. Unfortunately, I don't have this much of a surplus every month. 100% of the surplus will be used to help beef up my savings account for my upcoming car loan payoff. I'd originally planned to pay off my car loan by the end of the year but my 31st birthday is coming up in a couple of months and I think that my paid-off car will be my gift.

How did I start budgeting? First of all, I took advantage of the 30 day free trial at Mvelopes to help me get a firm grasp on how to use a budget. I suggest using a budget to help you manage your income and expenses. I can actually say that using a budget is certainly helping me improve my monthly money handling.

Do you have a budget?

SingleGuyMoney Recommends: Ebates - Where it pays to shop online.


  1. Frugal Pursuit // March 25, 2008 at 7:31 AM  

    Absolutely I have a spending plan. I know a person who shrugs and says she has no problem with saving and spending. I need my spending plan to keep me on the right path (not overspending) and allow me to save. I also have to justify an expense to myself because which category does it go in? Any extra money leftover in a category at the end of the month can be applied to savings.

  2. Anonymous // March 25, 2008 at 10:00 AM  

    It has been 3 months since my husband and I have really buckled down and it has made a HUGE difference! Last week we had $450 leftover before payday and ALL of our bills were paid for the month. I have a couple of things to pay before next payday, but I am guessing this time we should have $1,000 or a little more before the next payday, I am soooo excited! I really enjoy your blog!

  3. JesieBlogJourney // March 25, 2008 at 6:58 PM  

    You are doing great and the tax refund helps though it is technically the money "lent" to the government. I'm spending my refund for a vacation.

    My budget is always to save a fixed amount for retirement first.

  4. Anonymous // March 27, 2008 at 12:37 AM  

    Everyone has to have a plan because without "one you are planning to fail". I know its a over used quote but its true. A person must spend there money wisely or else they will fail. A paid of car is always a great gift for yourself.