I overspent in my October 2020 budget by $454.68. There. I said it.
Let’s get to why I am not freaking out as badly as I might during any other month…
October 2020 Budget Review
YIKES! What the heck happened? I was so excited as I was creating this budget that I put a note for myself at the bottom of the budget! I had crushed it in September and then…this. October was one of those months where a lot of things (some predictable, some unpredictable but preventable) came together in a way that was financially costly. Like, locking my keys in my car and having to call a locksmith to get them out at 11:00PM at night 😳 I also got sick (Not COVID-19; I think we forget that there are still other viruses and bugs out there waiting to prey on our immune systems) and began ordering take-out soup and comfort food. I was bad. And the social-political tension in the United States didn’t help. (I work in a student affairs role and have to provide support to students who are stressed out, anxious, and experiencing mental health concerns. It can generally be a bit draining and this significantly increased over the past few months.) Over the last two weeks or so I had a low level of anxiety about work and all that is happening in the U.S. Unfortunately, food is my crutch. Working on that.
This should be freaking me out. I should be ashamed AND worried about no longer being able to meet my early December goal for a three (3) month emergency fund ($5,000.00). But…I’m not really worried. Why?
November 2020 Budget Forecast
I worked hard in October. And while this isn’t an excuse to blow my budget, it does mean that some of that hard work is paying off in November and cushioning the impact of my overspending…
1) I picked up shifts at my regular part time gig – I blogged about that in a post on the cost of earning more. Overall, the extra shifts I worked over these ten days resulted in approximately ~$181.94 in additional income. (That is not net income and does not include the increased fuel costs).
2) Activity referee – As I mentioned previously, I sometimes serve as a referee for an activity that has transitioned successfully into the virtual space. While this does mean the number of opportunities for refereeing are more limited, and I am now competing against a larger and more qualified pool of candidates for gigs; ultimately, when I do find a gig, they are still pretty lucrative. This month, I got paid for work done primarily in October and I was paid $300.00.
While some of the additional income was used to payoff my spending from October, and pad my November FDGM budget, most of the additional income went towards my emergency fund as planned. In fact, because of the additional November income, I now expect to have my emergency fund completely funded on December 1st when I get paid by University B, AND to still have a few dollars to restart aggressive debt repayment. I KNOW!
Part of me is like, you could have been done even faster if you had been more careful and disciplined in October. The other part of me is like, my debt repayment journey will be long. I will undoubtedly fall short sometimes. It seems like the most important thing is not to lose sight of the end-goal and to keep going.
P.S. Sorry it’s late Ellen 😓 I didn’t have it in me to write on election day. Hello to all my new visitors 👋🏿