Just a couple of quick random thoughts for today. Mrs. Funance and myself are waiting for the birth of our daughter. She is due in a week, but as many of us with children know that babies can come any time they are ready. We have been spending a lot of time preparing for her to come, and one of the things that we did ahead of time was prepare a lot of food that we could warm up in the oven so we wouldn’t have to go shopping or rely on fast food or pizza in the weeks after she is born. One of the things that my wife said to me when we were buying all the food to cook was “But, won’t this take us over our food budget for the month?” Of course, being a money nerd I smiled on the inside that she was thinking about our budget.
Yesterday I pulled together our spending results from October to see how we did. Even though I used the word budget in the title of this blog post I do try to avoid using that word too much when reviewing our finances. I try to think of it more as a spending plan where we have targets for various categories and assess how we do each month. Our biggest pitfall has been our food budget. So last month we did go over our food budget, but I feel better knowing that we did so in preparation for the baby.
Part of my goal over the last few months has been to dive deeper into our budget to gain a better understanding of our finances so that we know where we can (and will) need to cut back when the time comes to pay for daycare. So that’s the next step. I’ve rebuilt our budget from the ground up probably 3 times in the last year after learning more about spending and budgeting from the personal finance blogging community, and I think I’ve finally reached the place we need to be to understand the data to make some informed decisions about our finances. So I’ll take that as a win, with the next step being a deeper dive into the numbers.