Wednesday, February 17, 2016

Budget Breakdown February 16-29

Yesterday was payday so here is my budget breakdown:

$270 utilities
$100 groceries
$95 gas
$735 online savings account
$200 spending
$33 alarm monitoring
$500 retirement
$500 Mom's birthday
$97 furniture fund

After paying off my student loans, this is the first budget where I really got to send more of my payment to savings.  It felt good!!! My online savings account is now up to $5,000.34!! Yay! I now have $10,000 in my checking account and $5,000 in my online savings account for a total of $15,000!

I should start earning about $4.00 a month in interest on my savings account now that the balance is at $5,000!  So far this month, I have only earned $1.79 in interest.

Also, I have set aside $500 to start my Roth IRA contributions.  I know it's not much and I haven't even opened an account yet, but it feels good to now be able to report that I have retirement savings!! One day retirement may become a reality!

Having money going towards savings rather than debt is a good feeling.  It makes me feel more confident and independent.  I don't feel as though my world will collapse if I lose my job. 

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