We are one quarter of the way through 2019 and I’m so excited to report our progress for the month of March. So much took place over that 31 days and I can’t wait to share it all with you.
Sometimes it can be fun to see how someone else is making (or not making progress toward achieving their goals, which is why I take the time each month to update you on mine. Really, though, I want to hear all about the successes and failures you are facing so that I can encourage you. Don’t hesitate to contact me or leave a comment below!
Successes
It wasn’t perfect, and it didn’t come easily, but success seemed like our middle name when it came to the month of March.
Grocery Budget
We used our ENTIRE grocery budget this month. The $280 total I’d split over four weekly shopping trips disappeared a lot more quickly than it had in previous months. I can attribute some of this to having been so strict in January and February and, realistically, needing a few staples. Additionally, having another family live with us made it a little more complicated when it came to groceries, but we managed to stay successful in that we didn’t go over budget!
Cash Only System
Once again, our cash only system proved incredibly effective in keeping us on track. Just having the cash and knowing exactly where the boundary is when it comes to spending makes a huge difference. I know that when I head off to go make a purchase, I only have that amount to spend and that keeps me accountable to our budget and our long-term goals.
If you haven’t had a chance to check out how we implement the cash system – you can find a post on it HERE (as well as links for the exact system I use).
$1 Per Day Challenge
Saving $1 per day ended up being a lot more challenging than I thought it would be. I think some of that came down to our need for the entire grocery budget, but we still managed to put away $26 this month above and beyond our normal savings.
Struggles
As usual, we did have areas of our budget in which we struggled a bit to stay on track.
Personal Shopping Challenge
The personal shopping challenge didn’t go as well as it should have, in that I purchased a new bronzer (my other one broke all over the bathroom floor) and an adorable set of salt and pepper shakers to add to my growing collection. Both purchases came out of my personal spending money but did throw us off our game when it came to that challenge.
Additionally, we took $200 out of our debt payoff budget to put toward new bicycles for the girls. It’s something we’ve been contemplating for a while and, with the nicer weather upon us, decided it was time. Justin and I made sure to check out the ads and were able to purchase both bikes and bike locks within our set budget.
Aside from those items, we were very successful at keeping our purchases to the necessities.
Our March Results
Our goal of paying off a total of $2,700 in debt this month was far exceeded, thanks to the contribution of our tax refund, and managed to pay off $7,991.28.
That large amount allowed us to bid goodbye to our mattress payment, a home maintenance debt, our medical debt, and two small additional debts. The minimum payments on those items alone will free up $277.49 each month that will go right back into paying down other debt.
After the success of January, February, and March combined, we have a total year-to-date payoff amount of $14,380.62, meaning that we are 43% of the way to our yearly goal.
Note: we used every penny of our tax refund toward paying off debt, as well as continued to save within our monthly budget in every way possible. This is not a typical debt payoff month for us, and actually came as a surprise that we received so much back in a tax refund.
Reevaluating Your Own Progress
I think it’s fair to say that,while this particular month was a success for us, that’s not always the case. In fact, even with careful planning, we’ve had some huge failures in our attempt to get our finances (and other parts of our lives) in order. If, for any reason, you didn’t see as much progress as you’d expected,just know that every step you take in the right direction is getting you closerto that end goal, so don’t give up just yet!
How did you manage your own goals this month? Is it getting a little easier? I’d love to be able to cheer you on, soleave a comment below!
Tip: Struggling to keep or determine your goals for the rest of the year? Get my FREE 5-Day Achieving Goals Email Course. Trust me, you’ll be happy you did!
