Break Even 2008 Week 4 Update

Okay, here goes:

On the food budget, still $10 overbudget on groceries, ARGH. I say, "Really this week, let's not buy too much," and it never seems to work. I'm going to need to convince hubby to have a "pantry challenge" for at least one week this summer just to get to where I can find all my food again.

On the eating out budget, $5 under! Yay! We only ate out once, and we had a really great time. It's such a relief to me since this is the first week we've stayed within our budget on this.

On the income front, still working a lot. That's going to end soon, though, as this was the last week of my 8 hour a week class. Have to find more ways to earn money.

And since it's the end of the month: overbudget on gasoline (as expected), underbudget on electricity (yay!), so I'm doing pretty okay.

So, here goes,

Break even number = 245
Overbudget on food = +10
Overbudget on gasoline (for month)= +12

Underbudget on electricity (for month) = -10
Underbudget on restaurants = -5
Income (Part time job) = -580
Savings account interest = -8

Making my expenses -336 for the week and putting me $512 ahead for the summer! That means that I could theoretically not work at all for 2 weeks and, as long as I stay on budget, still be coming out even. Woo Hoo!

Break even 2008 week 3 check in

Just a Break even quick check in this week:

I was $20 overbudget on restaurants again this week, partly from the last day of the adventure and of having company, partly because I have a problem.

I was $12 overbudget on groceries. For all that I preach grocery savings strategies, I can't seem to make it in and out of a grocery store for underbudget lately. My pantry and freezer are nearly overflowing and yet I just can't seem to help myself. Argh!

I had some rare ebay earnings too. We bought an extra copy of Wii Fit, knowing there would be a shortage, and sold it on ebay. After shipping and fees, we made about $25 profit. ::Shrug:: I'm kind of an amateur.

And I worked. A lot. By a lot, I mean 4 hours most days. It doesn't sound like a whole lot when I say that, lol, but hey this is my summer vacation.

Break even # $245
Overbudget groceries $12
Overbudget restaurants $20
Ebay earnings -$25
Part time work earnings -$490

Net expenses -$238

Since I was $62 behind last week, that puts me $176 ahead for the summer so far. Woo hoo!

This is the last week of the month though, which means that on next weeks' check in I have to settle up for my projected versus actual spending on gasoline. Trust me, I'm not looking forward to that.

Break Even 2008 Week 2

So, this week was not the most stellar week of the break even challenge. Because of the Adventure, and because we had company for the whole week, we were a full $50 overbudget on eating out for the week. (Yup, that means we spent 3 times what we were supposed to spend. Oops.) We also had to give a wedding present, which was not prebudgeted (double ooops). Plus, I'm sure we are already overbudget for the month on gas, and I think our electric bill is likely to be higher because, with company here, I couldn't turn the air off during the day or leave all the lights and fans off. But, as the rules state, those will get settled up at the end of the month.

Also, with company here, and with several days out of town, I wasn't able to work much on generating any online or alternative income, so most of my income came from work. Since the hours I'm working now are temporary, I'm going to need to make more of an effort to get some other income streams started before they end, or this project will definitely sink.

There are benefits though. I worked quite a bit, so that makes up for some of the additional spending. Also, because we ate out so much, we were able to save some money on our grocery budget: I just had to make a quick stop for some cereal and fresh fruit.

Settling up:

Break even number $245
Over budget restaurants +$5
Unplanned spending +$150 (wedding present)
Underbudget groceries -$35

Part time earnings $260

$105 short

Last week, I was $43 ahead, which puts me a total of $62 behind for the summer. Yuck. Guess it's time to start working harder.

Break even challenge 2008

Just like last summer, I decided that one of my goals for this summer was to break even. Essentially, what this means is that I intend to make at least as much money as I spend, even without my full time job.

Last summer, I didn't make it. I got behind, and even though I broke even by the seek for most of the second half of the summer, I could never catch back up. Somehow, through magic, the money all worked, and we made it through the summer just fine on what we had in the checking account.

This summer is a little different. This year, I consciously saved money every month in my ING account, so that my savings are equal to my share of the expenses for two months. In short, I don't need to make any money this summer, so it's almost entirely a game. Also, because my car is paid off this month (Yay!) my break even number is a little lower this year at only $35 a day or $245 a week.

Other than that, the rules they remain the same:

1. Anything I spend over my budgeted amounts for groceries, eating out, or personal spending gets added to my break even number for the week.
2. Anything I earn or any money I save gets subtracted from my break even number.
3. Money I earn from my part time job is counted the day I earn it. Money I earn online or from other ventures is counted the day it pays out (because the lag time is usually so long, and sometimes the returns are questionable). Savings interest is counted at the end of each month, as are spending on household bills and gasoline.
4. Gift cards count as neither earning nor spending.
5. Money spent earning rebates, mystery shopping, etc, must be counted as spending, and fit in the actual budget. When the reimbursement comes, that counts as earning.

The biggest lesson I learned last year was that I have to work. I had some idea in my head that I would be able to make it primarily from online earnings (GPT offers and some article submissions), and so spent the first couple weeks lounging, and getting further and further behind, confident that when things came through, I'd be okay. This year, I'm working right from the start, and if more money comes in later, all for the better, but it's easier to keep up than to catch up.

Week 1:

Break even number $245

Over budget groceries +$35 (We have company this week)
Over budget eating out +$12
Unplanned entertainment+$42 (We went to a museum)

Part time earnings -$290
Revolution Money exchange check -$42.50
Deal Barbie Payout -$45

Which puts me $43.50 ahead so far. Don't know if that rate is sustainable, but I feel pretty good about it right now.