Friday, June 4, 2010

May Recap: Saving for Italy

Phew! This "short" week feels like it has been extra long. Anybody else feel that way?! T...G...I...F.

Well, I have 3+ more months until we fly off to Italy, so it is crunch time for saving some serious cash. Before I get into how much I saved (or didn't save) in May, here's a recap of the past few months' savings:

-February - first recap

Between several friends' weddings in Long Island, a trip to Pennsylvania to visit Z's alma mater, and plenty of barbecues and Celtics games, my envelopes stood no chance in May - I definitely went over my monthly budget. On the bright side, I had a fun time doing it!

Here's how I fared:

Groceries: Spent $99.82 within $100/month new budget (old budget = $120/month)
Saved $20.18 from old budget 

Total saved to date: $26.10

Wine/Beer for home: Spent $66.14 within $40/month new budget (old budget=$80/month)
Saved $13.86 from old budget (although I obviously went over the new budget)

Total saved to date: $78.72

Dining out (not for work): Spent $132.76 within new $100/month budget (old budget=$160/month)
Saved $27.24 from old budget (although, again, I went over the new budget)

Total to date saved: $126.81

Grand total: $231.63
Goal: $720

Although I went over my new budget in some areas, I still managed to stay well under my old budget, which I'm happy about. This month, a new money-saving trick I tried out was to list, in an Excel spreadsheet, my monthly income minus all of my monthly bills and regular expenses. This way, I could see how much money I had leftover for "fun" stuff and any extra expenses. I also have an old-fashioned piggy bank in my apartment that I throw any loose change in - it's like having an extra savings account, which I never withdraw money from.

Are you going on a trip anytime soon? How are you saving money for it?


  1. I treat my savings account like another monthly bill. When I'm writing out checks for rent, etc... I also write out one to my savings account. It also helps that my savings account is at a bank that I have to drive 1/2 hour to get to! No easy access make it much less tempting!

  2. I started using to track all my finances and it's really helped me to get a nice picture of how I spend my money. It has fancy pie charts too!

  3. Great ideas, guys! Juli, I've heard of, but still have yet to use it - I definitely need to check it out!