Month 2 of No Income: Budget With Me August 2020

Hey everyone! August is here and so also is the second month of me living off of my savings for the summer. This will be a quick blog post, since the budget is much the same as it was for July– here are the numbers:

The notable changes for this month are that my car & renter’s insurance went down by $4 (yay for small wins!) and Hattie’s food and medicine costs lowered by $10. Everything else is the same– I’ve already sent a total of $1,230 to my Roth IRA and savings accounts.

I was also able to go underbudget a LOT in July (I didn’t spend nearly as much on eating out, gas, groceries, or other costs as I had intended), so I sent a $180 chunk of money right back into my summer savings account. Since I’ll be saving for next summer month-to-month this coming school year, this will free up $18/month in my budget soon enough. My hope is that I’ll go underbudget again for August and be able to free up even more space in my future budgets.

If you read or watched last week’s post/video, you know that my net worth decreased by almost $800 in July. I’m expecting an even bigger decrease for August, so make sure to stop by at the end of the month and check the damage! As we come to the final month of summer, I’m still loving having my time without work.

Also, I’m posting a total of *three* extra videos this month (one of the perks of being able to focus on Teachers Talk Money for a whole summer). On Tuesday, I’ll be talking about how I’m changing my investment strategy (see the notes section of my budget for a sneak peek) and the following two Tuesdays will be long-form interviews with other educators about how they manage their money. I don’t know if/when I’ll post corresponding blog posts to these, so if you don’t want to miss this content, make sure to subscribe to my YouTube channel.

Happy August!

🙂 Rachel

P.S.

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Remember, if you’re ready to get started with budgeting, use one of my free templates below!

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