February was a high income month for us as we received a nice tidy sum from Uncle Sam for our tax returns. I was able to fund a spousal IRA with the proceeds.
This month I also continued to see how I could lower my fixed expenses. After a couple of phone calls, I was able to lower my homeowner’s and car insurance policies by $200.00. I also received Chase Rewards and Rakuten (formerly Ebates) for a total of $100.00.
However, February was not without its challenges. We had some pretty hefty bills.
Some health issues reared their ugly heads which came to some big bills. CT scans, new crowns, fillings and a tooth pulled, numerous doctors visits…. It all adds up. Thankfully we had the money in our Health Savings Account to cover them.
Our final payment for our 25th wedding anniversary trip in May was due this month to the tune of $3,500. We are heading to Seattle/Alaska/Las Vegas!! I had the money already saved, so I was all set there. Fingers crossed we’ll be able to go. It seems the west coast is experiencing the start of the Coronavirus.
Which brings me to our next large expense.
I told myself to stay calm and even wrote a blog post about it. I thought I was calm until I saw the end result of what I purchased from Amazon, Aldi, Trader Joe’s and BJ’s. After stocking up on food, medicines, personal care and household supplies, I ended up spending a whopping $1,000! What the heck? How calm is that???
But the good news is that I’m pretty sure I won’t have to buy another bar of soap, shampoo, conditioner, garbage bags, toilet paper, tissues or cleaning supplies for two years and of course we’ll be able to eat for two -three months without stepping into a grocery store. 😉
Even with all those expenses, it was a good savings month. I was able to send $4,230 to an IRA (thank you tax return!), $1,200 to personal savings and $250 extra to the mortgage.
Total Savings for February: $5,680! I’m very pleased with the result.
How was your February?