Checking my progress; Second Quarter stats & June results

It’s halfway through the year which means it’s time for another quarterly check-up, you can find last quarter’s here.

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I’m going to actually skip the June recap this time and do a bit of a two-in-one post today. Um, June didn’t go so well. First off, my June goals;

Goals for June:
– $300 Blow Money
: Big fat FAIL! I bought an airline ticket… and went on vacation. I figured out how to pay for it all, then made a whole different budget. Why???
– $0 Grocery budget: Fail. I actually spent about $64 because one of my certificates for groceries (Airmiles) got stuck in the mail because of the dang Canada post strike. Not cool. Hopefully they’ll arrive soon. I’m broke.
– $900 Student Loan: Fail! I paid the minimum… with my vacation, and booking the other trip already… there just wasn’t any dough left.
– $20,650 Net Worth: Fail. Going on a week-long camping trip AND booking my next trip within a two week time period put nice big dent in my networth.
– Isle de la Madeleine; Mostly success! Vacation paid in cash, the only bad thing is that I didn’t have the cash till the day I went on vacation. I’m back to paycheque-to-paychequing it this month because of the ticket I bought and the vacation I went on. Crap.

The thing I hate about budgets is that I’m really good at completely busting them. I’ll have everything planned out in my head, then I’ll make a different plan on paper and at the end I’m surprised that the two don’t get along. This month has left me extremely broke, seriously… I don’t have a penny in the bank right now and the cheque I received on the day I left for my camping trip was used to pay FOR the camping trip, the next two cheques will be used up by bills and paying for my airline ticket and the Eurail pass I will be ordering, oh and just my regular bills. I have to be careful this coming month or I will fall behind.

Goals for July:
– Catch up, stick to my budget, no other big expenses & no excuses!
– $100 mortgage prepayment
– $200 grocery budget
– Keep house renovation expenses separated from my student loan
– Student loan balance of $6,500 on July 31st

Now the big picture is a bit more positive. For my 2011 goals, this is what I planned and how it went;

1. To complete at least 4 more courses for my degree. On track! I’m currently enrolled in the third course, and registered for two more for the fall. If I pass them I’ll have completed 5 courses this year.

2. To have a total combined savings balance of $2,500, 1000 E-fund and $1,500 misc savings Way off. I’m WAY behind on this, right now my e-fund is hovering around $80 and that’s it. I need to turn this around.

3. To make a trip overseas to visit family and friends.  On track! I booked and paid for my ticket, the trip’s planned! I’ll be going for two full weeks mid-September.

4. Have a student loan balance below $5,000 for July 1. Failed. I got a little too ambitious I think. My original goal for the year was to have the total balance below $10,000 since I surpassed that I moved up my goal. My goal for the coming quarter will be to get that balance below $5,000.

5. To keep making one extra mortgage payment of $100 per month. On track! I’ve prepaid $525 on my mortgage which means I am about $50 behind where I should be today but that’s nothing I can’t catch up with this month.

6. Have a net worth above $22,000 year-end. On track! I started the year off just below $10,000 so I’m well on my way to reach my $22,000 target for the end of the year.

Hmmm, four out of six goals, not bad! I’m happy that I’m still keeping my final goals in sight. It’s so easy to become discouraged after a ‘bad’ financial month like June.

How are you doing so far this year financially, are you keeping track, why or why not?

Published by Renée

I write about my life, travel and my financial up and downs on my blog, Nickel By Nickel, while contradicting myself daily. ;)

8 thoughts on “Checking my progress; Second Quarter stats & June results

  1. Wow 4 out of 6 is great! I think travelling is important and a good way to spend money. Experiences are important! You will never regret travelling.


    1. Yes true, I realized that I wasn’t having fun when I was being soooo strict earlier this year. I mean yeah I made really awesome progress debt-wise but a balance is important. Thanks for stopping by!


  2. Looks like you’re well on track – unfortunately budgets are hard, and they are easy to break when you’ve got a bunch of competing priorities. For instance this year, I had a goal to pay off my truck – not only was it ambitious, it’s absolutely not going to happen – I didnt account for some expected travel (like 2 weddings I knew about) and the one that I didnt know about. Once a dollar goes one place, it cant go anywhere else


    1. Yep true, I totally didn’t budget for the stuff I had planned… now I know to balance my budget according to my priorities. I was still budgeting for hard-core debt payoff like i was early in the year… but that’s just not making me happy so I’ve compromised by doing things I love (like travel) but completely neglected to properly budget for it. Lol, doesn’t work that way huh


  3. That postal strike did suck! Good job on the 2011 goals. I think it’s very admiral to put up goals like this and share your successes and set backs with the world. I think there’s just something about June that makes it a hard month to budget for – some sort of sun related reaction in the brain that makes us (or at least me) want to spend.

    Good luck with the July goals!


    1. The feeling of sun and summer and fun… yeah hard on the wallet huh. Thanks 🙂 good luck to you too! Hope the househunting goes well!


  4. Pingback: 5 things I’ve learned after 8 months of tracking pennies « Nickel By Nickel
  5. Sometimes we may experience minor setbacks when we try to achieve our goals and I still think 4 out of the 6 goals are very decent.
    Pretty good on your target net worth, that’s at least 100% improvement if you reach it!
    Good luck to you on the rest of your goals for the year.


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