March calls for Marshmallow Stouts from Garage Brewing Co! We are sharing REAL numbers from our REAL millennial budget. Ready to build in a Treat Yo Self day? We show you how! 

In this episode, we discuss how we budget for one-time expenses, like car insurance, in our monthly budget. So, I didn’t realize this until I was speaking with one of my Budget Bootcamp students, but California car insurance is expensive! Okay, well maybe I knew it was expensive but it’s a drastic change between Kansas and Cali. We paid $380.88 to insure our Subaru Forester. This is the six month premium rate. When I lived in Kansas, I was paying around $198 for my Ford Escort ZX2.

In our March budget, it looks like we overspent, but it’s only because we had our car registration expense this month. We also give ourselves a “margin of error” for categories that we really have to watch. If we go over $15 in groceries, we aren’t going to beat ourselves up about it. Do you give yourself grace if you go slightly over budget in certain areas? 

Saving for clothes

We started to keep running totals in our budget so we can save for clothes. We budget $50 per person for clothes. If we don’t spend any money in this category for the month, we roll the money over to the next month. This can add up over time! Kyle had $150 in his clothing budget, so he is cashing it in to buy golf shoes and tennis shoes.

Fun money and anniversary

I mentioned this in February, but our fun money category is a little high for what we actually spend. We budget $350 per month for entertainment. If we want to go out for beers, we pull from our fun money category. Likewise, we’ll use this money for things like going to the movies, golf for Kyle, or buying Starbucks. We only spent $105.17 this month on fun things. Either we’re not having enough fun or we are doing an excellent job of having fun on a budget! I think we’ll lower the amount for April.

Fully funded Treat Yo Self goal!

The best part of our March budget is our fully funded Treat Yo Self goal! We have been setting aside $100 per month for the past year towards a Treat Yo Self fund. We decided to build this fund because we used to feel guilty about spending money on ourselves. Building a money goal in a separate savings account really helped us make this possible. Treat Yo Self Day is all about spending money in whatever way you want! Shopping? Treat Yo Self. Fancy restaurant? Treat Yo Self. Couples massage? Treat Yo Self. You get the idea. Look out for our vlog on how we ended up treating ourselves!

The pros

  • We were under budget for three big categories: restaurants, fun money, and shopping.
  • We spent $1,218.85 from our vacation fund. We booked four flights using our Southwest Rapid Rewards Credit Card.
  • Our down payment fund is now at $61.932.60. We are aiming for a $70,000 goal which would include a 10% down payment and an additional $10,000 for closing costs.

The cons

  • It appears that we overspent this month because we had to pay our car insurance premium of $380.88.
  • We were slightly over on our groceries budget. We budget $450 per month and we spent $466.
  • We didn’t budget for health and wellness. We need to add that for April.

Let me know how your March budget went in the comments below!

Learn How to Pay Off Debt By Putting A Budget In Place

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