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January 29, 2021 · Leave a Comment

February Budget Categories

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Budget· Budget Tips· Debt Free· Debt Free Tips· Saving· Ways We Save

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With February right around the corner, it’s time to start looking at your February budget and financial goals. Don’t forget about these eight budget categories in your February budget.

February Budget Categories

Looking to set up your budget for a different month?

  • March Budget Categories
  • April Budget Categories
  • May Budget Categories

Spring Sports

February is the time our region’s AYSO starts creating the teams for the spring.  I take the opportunity to go through the equipment from the fall and see what we need to get for the upcoming season.  Sometimes I’m lucky and only need a few extra socks, and other times I’m completely swamped and need to buy new cleats for all three.

Sinking Fund Accounts

Sinking funds are a vital part of any budget that is used for known upcoming expenses, like replacing your tires or saving for a family vacation. You can head to this post to read more about what sinking funds are and how to save for them.

Remember to keep up with the sinking fund accounts that you need to save for all year, and don’t forget to start any sinking accounts for expenses coming up.  Even if it’s just $20 per month now, a small amount over time will add up and keep you from having larger expenses later on.

Sinking funds that I’ll be contributing to slowly over February is our back-to-school fund.  I like finding clearance clothes at the beginning of March and start finding long sleeves for the following school year.

Need some more ideas for savings categories?  Check out my post about our 52-week savings, and get the free printable while you’re there!

Taxes

It’s time to start filing! Whether you wind up owing money at tax time or just want to hire an accountant to do your taxes for you, make sure you are saving money for this now!

How To Complete A Budget Review

Valentine’s Day

From going out to dinner, staying in for a nice meal, and even classroom exchanges at school, you’re going to want to leave some room for it in your budget.

Higher Utility Bills

February is the coldest month here in the northeast. At our two previous houses, our main source of heat was natural gas. Our bill was exceptionally higher in the winter than it was in the summer, by a few hundred dollars. Keep in mind that while you can join budgeting programs to spread the usage out over the entire year, the cost can change not only from your usage but also unit pricing at that time. Be sure to plan and save ahead.

Clearance Items

February is the start of winter clearance in our region.  Like I mentioned earlier, I like to start shopping for clearance clothes now to use for the next school year.

I also assess the kids’ winter coats and buy the next size up at the end of February.  While they may be limited on their preferred colors, it’s much more budget-friendly to get coats at a discount than pay full price.  I try not to spend more than $30 total for coats for all three kids, saving myself well over $150.

Summer Vacations

As my kids are getting older, I am constantly surprised how our summer fills in with all their activities before the summer is even a thought. Marching Band Camp at our district is scheduled for August, but we get the dates in late December.

If you plan to take a vacation as a family, start planning whether you’ll be staying local doing smaller weekend staycations, or going big and opting for a longer vacation further away, you need a budget estimate before you can finalize any plans.

Budget Reminders:

How is savings for Christmas coming?  What about your other sinking funds?  Is there anything coming up this summer that you should start saving for now?

Are there any budget categories you include in your February budget that I didn’t add to this list?  Let me know in the comments below and I’ll be sure to add them!

February Budget Categories

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makingcentsmatter

makingcentsmatter
Only you can determine what your financial goals a Only you can determine what your financial goals are. If that means you're adding money to your savings account, or contributing to your retirement, while you are paying off debt, then so be it!⁠
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Do what looks right for you and your personal finances.⁠
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#budget #budgeting #savingmoney #savings #cashbudget #cash #cashisking #frugalblogger #frugalmom #frugalliving #financialgoals #personalfinancetips #personalfinance #debtfreejourney #debtfreecommunity #debtfreeprogress #makingcentsmatter #financialfreedom #debtfree
The trick to meal planning is to make it predictab The trick to meal planning is to make it predictable. But predictable doesn't mean the same thing week to week. You could have a chicken meal, a soup meal, a pasta meal, a leftovers meal, a family favorite meal, and so on.⁠
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We always try to go with themed days, but some weeks are so hectic the theme is literally "fast". Thankfully that hasn't been the case lately.⁠
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#mealplanning #mealplan #budget #budgeting #monthlyincome #savingmoney #savings #cashbudget #cash #cashisking #frugalblogger #frugalmom #frugalliving #financialgoals #personalfinancetips #personalfinance #debtfreejourney #debtfreecommunity #debtfreeprogress #makingcentsmatter #financialfreedom #debtfree
I can only hear about my extended warranty I never I can only hear about my extended warranty I never purchased so many times. 😣⁠
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#makingcentsmatter #budgets #monthlyincome #debtfreecommunity #realbudget #savingmoney #payingoffdebt #savings #frugalliving #frugalblogging #budgeting #monthlyincome #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom
March Debt Paid numbers are in!⁠ .⁠ House: $51 March Debt Paid numbers are in!⁠
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House: $511.13⁠
Citi: $0 – this has a residual $3 in interest charges since payoff, due in April⁠
D NelNet: $100⁠
K NelNet: $100⁠
K Chase: $600⁠
Explorer: $336.27⁠
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Total Paid in 2021: $8,258.84⁠
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Extra Payment: There isn’t one this month since we were $25 away from zeroing out the budget for our February 15th monthly paycheck. That $25, and monies left from our January 15th paycheck, covered our OOP costs for Hubs’ filling. We also have some savings goals coming up that need to be met, making our debt payments a little lower for the time begin.⁠
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#makingcentsmatter #debt #debtfreejourney #debtfreeprogress #debtfreecommunity #realbudget #savingmoney #payingoffdebt #savings #frugalliving #frugalblogging #budgeting #monthlyincome #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom⁠
The battle for who can charge what tonight is abou The battle for who can charge what tonight is about to begin. 😬⁠
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My kids run off with my charger, plug it into one outlet 5 feet from where they found it like that particular outlet is the only one in this house, and then proceed to fight over who can charge their device first at night.⁠
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Then they get grumpy when it's their turn and it's not the proper input cable. #itwasmychargerfirst #dontlikeitgofindyourown⁠
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#parentingteens #parentingtweens #momlife #realife #budget #budgeting #savingmoney #cash #frugalblogger #frugalmom #financialgoals #personalfinancetips #personalfinance #debtfreejourney #debtfreecommunity #debtfreeprogress #makingcentsmatter
A needs his wisdom teeth taken out. I've talked a A needs his wisdom teeth taken out. I've talked a bit in our February Budget Check-In about how much of this I think we'll owe, and you can check that out on my YouTube channel if you're interested, but I wanted to say here...⁠
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To the mother with little kids struggling to get your finances in order, it will get better. I wish I could have heard those words years ago.⁠
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Nearly 10 years ago we were facing a $1,400 out-of-pocket portion for A's Phase 1 orthodontic work (I looked it up after I uploaded the video... we had a $1,400 portion).⁠
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It was a lot of money for us at the time. Our kids were 6, 2, and 3 months old. I don't think we even had $500 in savings, and I just left a part-time teaching job because it wasn't paying the part-time daycare bill, so paying our portion in full was just a dream I didn't think was achievable.⁠
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I was even stressing about the monthly $100 payments. We were so strapped. It was our breaking moment to start cutting costs and budgeting more effectively. We've learned a lot in that time period.⁠
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What we've learned is that it does no good to stress about it all the time. Life happens. All you can do is try to plan ahead, and if it's something that's unplanned, readjust. It won't always be easy, especially at first, but it will be worth it.⁠
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Nearly 10 years later, we are still paying off our debts. Student loans suck. But I see this bill as a reminder of how far we have come. Seeing a bill like this doesn't stress me out like it used to, and I know we can easily create a plan that can get it done and out of the way.⁠
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Will it delay our debt-free date more? Yes. But it's not worth stressing over. Life happens, readjust, and continue on down the path. It's called a journey for a reason.⁠
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#wisdomteeth #personalfiannce #personalfinancetips #financialgoals #budgeting #budgets #savingsgoals #savings #cashbudget #zerobasedbudget #debtfreejourney #debtfreeprogress #adulting #lifehappens #realife #realbudget #makingcentsmatter
It's almost payday! Here's how our variable budget It's almost payday! Here's how our variable budgeting categories are working out for the pay month.⁠
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Food is looking good this far into our paycheck, probably because miscellaneous - which includes eating out - took a hit with unexpected purchases. Pet is low for this time of the month, and Household is spot on.⁠
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Fuel looks like it'll be lower than last month (yay for weeks of snow days & delayed school starts), and Therapy had one more appointment than initially planned.⁠
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Garden, Dental, Medical & Propane are not included in these estimates so far because those expenses are coming from sinking funds. Once we're done with the month and review the budget, I'll move over the total amount spent from those sinking funds.⁠
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How's your paycheck budget coming along?⁠
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#realbudget #monthlyincome #monthlybudget #budget #budgetupdate #budgeting #savingmoney #variablecategories #savingmoney #savings #debtfreecommunity #debtfreejourney #cash #financialgoals #personalfinancetips #personalfinance #frugalliving #frugalblogger #budgetblogger #makingcentsmatter
Automating your finances makes saving money and bu Automating your finances makes saving money and budgeting more convenient, and therefore easier on you. Out of sight, out of mind, right?⁠
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What's one thing you can automate this week to make your finances easier?⁠
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Me? I'm going to set up our sinking fund transfers to automate every payday (the 15th of every month). Our bank set up a feature on their app where we can schedule savings transfers now, and I'm going to take advantage of it!⁠
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#personalfinance #personalfinancetips #budgeting #budgettips #personalfinancemadeeasy #savingmoney #savings #sinkingfunds #cash #frugalblogger #frugalmom #frugalliving #debtfreejourney #debtfreecommunity #debtfreeprogess #financialfreedom #makingcentsmatter
Oh my word... our miscellaneous category has gone Oh my word... our miscellaneous category has gone a smidgen overboard this month!⁠
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I foresee a goal for March's paycheck to at out less than twice. That's where this category went awry. $99.16 of it went to eating out. 😑 Some of it was avoidable, but not all of it. Having to drive to multiple appointments in one day during snow squalls and rearranging our whole day was one of those unavoidable instances.⁠
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Tracking our expenses - much like a budget review - is vital to sticking to your budget!⁠
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#makingcentsmatter #debt #debtfreejourney #debtfreeprogress #debtfreecommunity #realbudget #budgetcategories #monthlyincome #savingmoney #savings #frugalliving #frugalblogging #budgeting #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom #expensetracking #budgetfail
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