The time has come once again to tweak the budget because there has been a major change in my income and expenses. I recently switched my insurance to a High Deductible plan and so my premiums for the month have gone down. This means I will be receiving a slightly larger paycheck but since I will be contributing to my Health Savings Account on an after tax basis, I will need to account for this new outflow.
I have tweaked my budget a few times in the past as major events have happened and since I will be getting the new paycheck at the end of September, it makes sense to do an overhaul of the budget starting in October. As soon as I get paid on the last day of the month I will know what my regular salary is going to be and I can go ahead and make the adjustments in the spreadsheet for the upcoming month. I am going to factor the contributions to my Health Savings Account under the Financial heading, which takes care of all investments and similar items since I want to keep my budget as streamlined as possible.
I will also be changing the amounts I budget for food and personal shopping because I have been going over those amounts some months. I will be reducing the amount for Miscellaneous spending as well because I should be done with my classes in December and will not have a need for moving so much money to that account to pay for school.
That is great that you are almost done with school! Congrats!
Nice to hear you’re nearing the completion of school and with it the lowering of you expenses. 🙂
I tend to also go over on my shopping budgets too. I think its great your able to manage so many different types of savings.
Good idea adjusting your budget. It is important to take into account any major changes in your income or spending. It is just hard to not just spend the extra money.
Congratulations in advance. Keeping and organizing your budget allotments and going to school at the same time is already a great achievement. I also make a spreadsheet of all our expenses, makes it easier to track that way. But every now and then, unexpected situations put a strain budgeting, so you really have to have some allotment for those.
I love the fact you can budget so well. Congratulations on that and congrats on finishing school.