Budgets

Welcome to May…and a brand new budget!

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You guys!!

Can you believe it’s nearly May?? It is amazing how quickly this year is going by – it is going to be summertime before we know it!

If you have been following Reach for More for a while, then you know what a new month means…

It’s new budget time!

Why a new budget?

The reason we tweak our budget each month is because our goals for our money should be different each month. In December you are going to spend your money on different things than you will in May. Your budget should reflect that!

Each month, as I build my new budget, I like to do a check of my calendar. I look for any event, birthday, or holiday that is out of the normal and make sure I’m considering those expenses in our plan for the month.

Then I spend some time with last months budget (in this case, I’ll look at April), and see where I went over and where I stayed under and where I need to make some changes.

Using EveryDollar, it is simple to set up the basic bones of your new budget. On a computer, click ‘April 2019’ at the top of the screen and then select ‘May 2019’ which will be greyed out. EveryDollar copies your April budget into the new month, so your budget lines all transfer over.

Easy, right?

Now that you are set up, you can start making this new budget reflect the new month. Change your plan, add new lines, delete old ones – whatever makes sense for the month ahead!

Budget Reminders for May

Mother’s Day

If you have a long-standing tradition of taking mom out for a fancy brunch, make sure you have budgeted for it properly! There’s nothing worse than trying to celebrate with the sick feeling of breaking your budget lingering in your stomach!

Stay tuned in the next few weeks for some low-cost ideas to make mom feel special without breaking the bank!

Graduation

If you have someone in your life graduating this year, tucking away a big of money this month will help to make next month’s celebration easier!

Summer Holidays

It will be here before we know it, so make sure you are ready! Putting away a bit of money each month can make summer holidays way less stressful!

Gardening

Fresh soil, a few packages of seeds, a new rake to replace the one you broke in the fall. Gardening is a fun and generally low-budget hobby, but make sure you are being intentional and planning ahead before you fill your flower beds and sew your seeds!

Lawn care

Sharpening the blades on the lawnmower and getting the dandelions under control can cost money, so be prepared!

May long weekend festivities

In Canada, we have a statutory holiday to Celebrate Queen Victoria’s birthday each May! (I had to google the reason for the holiday, all I knew was we get Victoria Day off!)

This long weekend is welcomed with the arrival of spring (or often, winter’s last hurrah!) but whatever the weather, make sure you put your plans in your budget!

Camping

Like I said – May long weekend often brings a big dump of snow, so camping might not quite be on the list of activities this month. But by tucking away a bit of money now, you’ll be set for the coming months. I like to start saving for camping early. I use this money to pay reservation fees, to compensate for the increased food and gas costs, and to pay for any extra adventures we might go on while we are away!

May budget reminders - mother's day, graduation, summer holidays, gardening, lawn care, may long weekend, camping

That’s a wrap on May!

Take a look at your budget and get intentional with where your money is going this month!

What are you adding into your May budget?

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4 Comments

  • Rj

    Thanks for the great reminders for next months budget.
    As for gardening, if you are in need of some supplies but can’t afford to spend a lot, check out Dollar Store. I have found that even though it is cheap, it will still last a few years. This has helped me when I need to put extra money in others area of my budget. Also, keeping an eye on Canadian Tire SALES.

    • Katie

      Great suggestion! Although, funny story – we used the little plant starter peat pods from the dollar store a few years ago, and they don’t disintegrate in the soil – I was still pulling them out this past fall, 2 years later. So maybe steer clear of those, but everything else I totally get there too! πŸ™‚

  • Diane taber

    We are really trying to get out finances sorted out and pay all of our debts off.and start winning with money.

    • Katie

      Starting is honestly the hardest part so GOOD FOR YOU!!! It is so rewarding to make progress and know you are really making a difference in your future. I hope you find lots of information here πŸ™‚

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