November was an exciting month for us! My spouse got three paychecks (he is paid biweekly and November was one of the two months this year he got three paychecks), we had an unexpected windfall (which won’t be in the figures here though, I just got the check and need to deposit it tomorrow), and advertising on the blog generated a little side income for us to snowflake. Also, I have successfully gotten myself a new contracting position as a high school chemistry tutor, pending passing my background check (which will be fine, so I just have to wait until it is completed). At the end of last month, my last contracting position doing legal coding suddenly and unexpectedly ended, so I am happy that I managed to successfully find something else in a short period of time.
On to the nitty gritty numbers wrapup:
- Income: $5145.93 (love the extra paycheck month lol)
- Put into savings: $705.00 (majority from extra paycheck for Christmas budget)
- Expenses (all outflow except snowflakes): $3054.68
- Snowflakes to credit card on top of regular expenses: $891.71
- Total remaining from income: $494.54
- Amount needed to carry over to next month for irregular expenses: $161.00
- Remainder of extra paycheck now going to savings: $261.33
- Total surplus: $72.21 (will be snowflaked after receiving first December paycheck)
Another month where we spent less than we earned. Hurrah! Although with it being the extra paycheck month that shouldn’t be surprising. But even after using the majority of the extra paycheck for snowflaking to debt and savings for Christmas, we still managed to come out with a small surplus.
The snowflake number in November consisted of a chunk of the extra paycheck, miscellaneous survey income including doing surveys myself and referring people to the survey programs I am an affiliate of, some freelance work, and advertising income from the blog. The snowflake number will not always be nearly that high, but I expect next month’s to surpass this month since we will be snowflaking $900 from my spouse’s windfall as well as any alternative income I bring in. Quadruple digit snowflake… here we come!
The remainder of the extra paycheck now going to savings is the difference between the $500 I left in our checking account when we got the check, and what I spent on household expenses (generally groceries and gasoline) for those two weeks until we got another paycheck. That will go to our emergency savings account now until January to provide a cushion while we travel over the holidays in case my budget was too low and we run into unexpected expenses. In January whatever remains will be snowflaked to debt.
And finally, speaking of debt, I’m enormously excited about our progress. I’ll be talking more about that in detail in the next week or so, but I did some off the cuff rough calculations with the snowball calculator I like to use, and it seems with the unexpected snowflakes we’ve been able to recently make and will be making in the near future, we could knock out our credit card debt completely by as early as April of 2008. And our debt reduction as a whole (student loans and car included) may be able to be completed by mid 2010 instead of December 2010. Our goal is staying at December 2010 right now but I will be reanalyzing a lot of things in the coming few weeks and setting some new goals for us in the process as other factors (such as my contracting position and what potential that has) fall into place.
On to December! I feel the power of forward momentum happening for us right now. I hope it continues!