First Friday Finances for June

By Melissa

So I completely skipped the May finance wrap up, due to the fact that we weren’t posting anything really in June. But to sum up, we had a really high savings rate again because of our tax return and low spending. For June though? Ha! Different story altogether! This month was a spendy one! Let’s jump into the break down!

Our Personal Finances

The market is back up! Hooray! And my IRA contributions have started again! Double hooray! So we are still sitting pretty with our overall net worth. At the beginning of the year we had mentioned that we had wanted our net worth to grow by $75,000, and we are definitely on track to do that. Granted, since our last First Friday roundup, we have announced that we are EXPECTING TWINS (yowza!) in the fall. That being said, we will be buying a car, meeting deductibles, needing to buy new things, and I will stop working for a long little while. So as exciting as our net worth progress seems now, we know that it might slow down quite a bit as we get further into the year. Which means we are so glad that we are finally seeing progress with our savings and investment plans!

As far as our savings rate for the month, well it surely wasn’t what it had been. We were a little spendy. In fact, when I looked back, it is our highest month of spending since September of 2019. Whoopsies. But! We were still able to save 49%, which isn’t horrible! Just not as high as previous months. Work in progress, friends! Work in progress.

Budget Items

So yep, almost every category in our budget was busted for June. Eating out, groceries, home spending, car expenses, clothing, misc spending/gifts, and healthcare expenses. We went over budget in every. single. category. Now a lot of it could have been better controlled, but things like emissions testing and registration for Philip’s truck, AC repair on our downstairs AC unit, termite treatment on our house (yay for a 30-year-old house!), new glasses for Maren, and an expensive ultrasound (which ultimately goes towards our deductible, but also, did you know they can charge twice as much for twin ultrasounds?), all those things are unavoidable.

We did have a few other extra expenses that were fun, like eating out while hosting our nephews in town, gifts for graduating family and friends, gifts for Father’s Day and birthdays, and my very favorite: new photos of our kids. I will gladly spend money every year to get sweet photos of my babies! (Which is why I am sharing them on this post, because they are much cuter than any financial picture I could possibly find!) None of those single items were crazy expensive, but it all adds up!

So better luck next month!

Blog Income

So guess what? When you don’t blog, you don’t make any money. 🙂 Traffic to our site was very low, we had a few people purchase things from our Mother’s Day gift guide, hygiene tools post and best Amazon toys post the month before, but for June? Zero! So better luck for July! We were hoping to make $100 from this here blog this year, and I kinda doubt we will hit it. But we are learning, for sure! And I didn’t really expect 2020 to blow up the way it did, making it difficult to be as consistent as I want with my posts. So I’m trying to give myself and our blog some grace and patience. We will get there! (Hopefully!)

Looking Forward

We are hoping to have a little more consistency in July! I have been working some extra hours as our office is trying to catch up from being off for two months, which has been helpful. But as I get bigger, which is happening at an alarming rate, I’m not so sure how much extra I’ll be able to work! So for now, I’ll do what I can and play it by ear.

Philip and I do have a quick weekend trip planned out of town to try to quasi-celebrate our 15 year anniversary from May, and also to maybe be a bit of a baby moon. Because is there anything better than not feeding three small children three meals a day?! We booked the whole thing (flights and hotel) with points so all we will really have to pay for is a couple Ubers and ALLLLL THE FOOD. We love food and eating lots of it. And we really enjoy not having to worry about what our kids would eat and when and all of that. So we will be expanding our budget to account for delicious meals.

I am also redecorating what has been our nursery for the past seven years. Since we don’t necessarily want all pink, and will need two cribs, I decided I’d like to redo most of the room. Philip thought/still thinks it is silly, but I made a deal with him to make it happen. I’ll have to go into more of that story on another day. But anyway, we are budgeting a few hundred dollars for supplies, paint, decor, accessories, etc. I’ve taken some before shots and am going to take lots more progress pictures of what I’ve decided on in there! I’m excited for such a drastic change!

And lastly, I have more doctors appointments. We are about $1000 away from meeting our family deductible this year (which will be nice when the babies come and that is already taken care of). My doctor has been very good about making sure I’m getting the care and observation I need. So we’ve had monthly ultrasounds, and this month I have a fetal echocardiogram scheduled also to make sure these little ones have perfect little hearts. Fun stuff!

Wrap Up

It is crazy to see the swing of going from spending next to nothing in April, to spending like crazy in June! But personal finance is just that…PERSONAL! The months can be as opposite as my girls are in the photo below! 🙂 So we feel like as long as we are still making good forward progress, it isn’t that huge of a deal if there is a month that we buy all the things. Obviously we don’t want that to happen every month, which is why we track everything so closely. But, like I said at the beginning, we are on track to meet huge financial goals this year, so we are patting ourselves on the back a bit and not beating ourselves up for the mishaps or missteps that we take. Progress is progress, and we’ll take any bit of it!

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