My next step is to analyze exactly where the money is going. Let’s take a look at the month of October and see if we can figure out why on paper we should have extra money leftover, but we keep going farther into debt! As you can see, we overspent by $724.42 during the month of October. Thankfully we’ve had a cushion in our account, because it would really be horrible to be overdrawn by $724.42.
As you can see in the screenshot above, there are a few more categories that I hadn’t accounted for. Eating out, entertainment, and interest on the credit cards. The interest on the credit cards isn’t going away very soon, but the eating and entertainment needs to come to a halt.
In our defense, we don’t usually eat out this often. But it was an incredibly stressful and busy month, since we were planning a wedding. In addition to the wedding, our youngest son had a birthday so we splurged on an ice cream cake.
And here is what the entertainment analysis looks like. Those little purchases sure add up. Technically, I consider them part of the “groceries, sundries” category, but look at how expensive this month’s entertainment was.