55 + 1 = 56... and Advancement

Advancement - 15-20 per cent of income.

The title to this category caught me off-guard at first. What could they mean by "advancement"? Here's the scoop:

Now for another main heading of our budget - advancement or development. Under this heading come health, recreation, pocket money, personal care, automobile expenses, gifts, contributions and education.

Okay, I get it. The "pattern" budget includes separate columns for both "health" and "automobile expenses" - acknowledging that these items probably make up the lion's share of expenses related to advancement. This is such a wide-ranging category it's going to be tough for me to come up with any kind of estimate as to what I'm spending, but I'll give it a shot.

Under health we list medical and dental care and drugs. Regular visits to your physician and dentist are cheaper than emergency measures necessitated by neglect. The Chinese pay their doctors to keep them well, and this seems to be the best idea of all. Hospital insurance, costing two to three pennies a day, is a wise investment for every family, even though they may never need it. And meeting bills caused by illness, through membership in an insurance association, is a method which is now becoming available.

Thankfully, in 2010, I can count on more than just "hospital insurance" - as long as I'm employed at my current job, that is. I spend $73.70 per month on medical, dental, and vision insurance premiums + $39.16 per month on long- and short-term disability premiums. During the past month, I've also spent $70.00 on co-pays. As near as I can figure, I've spent $35.58 on medication and vitamins during the past month. Though my premiums are steady from month to month, these last two figures will always vary. My total spending on health during the past month is somewhere in the neighborhood of $218.44.

Monthly automobile expenses include my car payment ($210.14) and car insurance ($60.17). I've only spent $26.33 on gas during the past month, but I'd better deduct from that the $18.63 I estimate spending on gas for my commute to work during the past month. (That falls under the "shelter" category in my vintage budget.) That leaves $7.70 spent on gas for non-commuting travel. I haven't had any maintenance or repairs this month, so my costs are definitely on the low side. My total spending on automobile expenses during the past month is about $278.01.

Recreation almost deserves to be listed under health, so essential is it to well-being and happiness. It is not at all necessary to be extravagant in order to have fun, but neither is it wise to be stingy to the point of starvation.

Sadly, I can't think of anything I've purchased during the past month that truly counts as recreation. Something to think about...

Magazines, newspapers, books and circulating-library fees all come under the head of education, as do fees for professional associations, school expenses, etc.

Nope, nothing here. I don't have any magazine or newspaper subscriptions. I rarely buy books, and the libraries I visit don't charge any circulating fees - unless you're late! I don't have any expenditures to chalk up to education during the past month.

What's left? Personal care --- here's where beauty products, haircare, and other toiletries come in ($63.24 during the past month). I've spent $10.79 during the past month on gifts and $11.00 on contributions. The one item I haven't really been able to categorize, but seems to fall into the "advancement" area, is a bouquet of tulips I bought last weekend for my desk at work. I guess I'll just have to consider that $12.95 as pocket money!

My total spending on "advancement" during the past month = 594.43 or 16% of my gross monthly income of $3666.67. I fall squarely into the 15-20% figure recommended by the authors of The Manual when it comes to this category. Next up: Savings.

PS: I weighed in at 138 this morning --- 1 lb. closer to my mini-goal of 134 by Saturday, February 20. All aboard! It's full steam ahead on the reducing train!!!