Thursday, May 10, 2018

Budget update

TOTAL INCOME  $  58,094.40  $ 4,841.20  $              2,234.40  $ 3,056.85  $  1,784.35
 Yearly total   Monthly   Average biweekly   Actual   Difference 
INCOME TAX
taxes, work  $    4,930.90  $    410.91  $                 189.65  $    198.66  $     212.25
NET INCOME  $  53,163.50  $ 4,430.29  $              2,044.75  $ 2,858.19  $  1,572.10
CHARITY 10-15%
fast offering  $    1,140.00  $      95.00  $                   43.85  $      95.00  $             -  
tithing  $    5,809.44  $    484.12  $                 223.44  $    305.68  $     178.44
SAVINGS 5-10%
emergency fund  $    2,397.46  $    199.79  $                   92.21  $           -    $     199.79
kids savings  $       141.96  $      11.83  $                     5.46  $        5.46  $         6.37
IRA  $    6,500.00  $    541.67  $                 250.00  $    250.00  $     291.67
investments  $              -    $           -    $                         -    $           -    $             -  
HOUSING 25-35%
dream home  $       260.00  $      21.67  $                   10.00  $        5.00  $       16.67
homeowner's insurance (Jan)  $       517.00  $      43.08  $                   19.88  $           -    $       43.08
Household improvement/ repair  $       381.68  $      31.81  $                   14.68  $           -    $       31.81
appliance replace  $       214.50  $      17.88  $                     8.25  $           -    $       17.88
real estate tax, county (Jun and Dec)  $    1,060.00  $      88.33  $                   40.77  $           -    $       88.33
real estate tax, town (Dec)  $       190.56  $      15.88  $                     7.33  $           -    $       15.88
UTILITIES 5-10%
internet  $       461.40  $      38.45  $                   17.75  $           -    $       38.45
phone- cell  $       944.32  $      78.69  $                   36.32  $           -    $       78.69
power  $    1,749.28  $    145.77  $                   67.28  $    167.84  $     (22.07)
water& trash  $    1,162.98  $      96.92  $                   44.73  $           -    $       96.92
FOOD 5-15%
groceries  $    4,940.00  $    411.67  $                 190.00  $    103.72  $     307.95
TRANSPORTATION 10-15%
car insurance (Jan and Jul)  $       342.32  $      28.53  $                   13.17  $           -    $       28.53
gasoline- buick and van  $    2,502.32  $    208.53  $                   96.24  $      26.52  $     182.01
registration, buick  $         39.42  $        3.28  $                     1.52  $           -    $         3.28
registration, van  $         44.42  $        3.70  $                     1.71  $           -    $         3.70
repair & maintain  $       485.42  $      40.45  $                   18.67  $           -    $       40.45
replace  $       994.24  $      82.85  $                   38.24  $           -    $       82.85
taxes, property- county (Dec)  $         62.69  $        5.22  $                     2.41  $           -    $         5.22
taxes, property-town (Dec)  $         75.54  $        6.30  $                     2.91  $           -    $         6.30
CLOTHING 2-7%
me  $         29.38  $        2.45  $                     1.13  $           -    $         2.45
kids  $         31.98  $        2.67  $                     1.23  $           -    $         2.67
husband  $         29.38  $        2.45  $                     1.13  $           -    $         2.45
MEDICAL 5-10%
health care  $    6,150.00  $    512.50  $                 236.54  $           -    $     512.50
health insurance- med, dent, vis, disability  $    4,927.78  $    410.65 $189.53  $    189.53  $     221.12
PERSONAL 5-10%
Christmas  $              -    $           -    $                         -    $           -    $             -  
gifts  $         34.58  $        2.88  $                     1.33  $           -    $         2.88
life insurance  $       110.00  $        9.17  $                     4.23  $           -    $         9.17
personal, me  $         39.78  $        3.32  $                     1.53  $           -    $         3.32
personal, kids  $       159.38  $      13.28  $                     6.13  $    129.77  $   (116.49)
personal, husband  $         39.78  $        3.32  $                     1.53  $           -    $         3.32
pets  $       676.00  $      56.33  $                   26.00  $           -    $       56.33
work  $              -    $           -    $                         -    $      69.10  $     (69.10)
RECREATION 5-10%
entertainment  $       106.60  $        8.88  $                     4.10  $           -    $         8.88
vacation  $         59.80  $        4.98  $                     2.30  $           -    $         4.98
disney  $    1,300.00  $    108.33  $                   50.00  $    224.24  $   (115.91)
DEBT 5-10%
husband's student loans  $    7,052.16  $    587.68  $                 271.24  $           -    $     587.68
husband's student loans extra  $              -    $           -    $           -    $             -  
NET SPENDING  $  53,163.54  $ 4,430.30  $              2,044.75  $ 1,571.86  $  2,849.27
 DIFFERENCE: NET INCOME/SPENDING   $         (0.04)  $      (0.00)  $                   (0.00)  $ 1,286.33

Thursday, May 3, 2018

Budget tweaks

I'm always making minor tweaks to the budget each month, based on gas prices, and our average utility usage, but I made a couple of slightly bigger tweaks this month.
I just finished taking a very valuable personal finance class through my church, and decided to change our budget up a little bit in order to be more financially secure.  One of the items I added was life insurance for myself.  My husband has coverage through his job, but I stay at home, so I needed a personal policy for me.
We also are building our emergency fund up a bit.  Part of it is to be more secure, but we are also looking to buy a bigger house in about two years, and I'd like to have a bigger buffer built up before we dive into that, especially since one of the options we are considering is renting our current house out instead of selling it.
My husband also got a small raise, so we're able to add these additional things in.
We're considering the option of taking out a home equity loan to do some home repairs.  We have fallen short of where we should be as far as maintaining it like we should, and it is literally starting to fall apart.  I figure it will wind up cheaper in the long run if we just knock everything out all at once.  I'll be starting back to work on a very part time basis when my youngest goes to kindergarten this fall, so the extra income will cover those expenses.

Budget update

TOTAL INCOME  $  58,094.40  $ 4,841.20  $              2,234.40  $    40.41  $  4,800.79
 Yearly total   Monthly   Average biweekly   Actual   Difference 
INCOME TAX
taxes, work  $    4,930.90  $    410.91  $                 189.65  $          -    $     410.91
NET INCOME  $  53,163.50  $ 4,430.29  $              2,044.75  $    40.41  $  4,389.88
CHARITY 10-15%
fast offering  $    1,140.00  $      95.00  $                   43.85  $          -    $       95.00
tithing  $    5,809.44  $    484.12  $                 223.44  $      4.04  $     480.08
SAVINGS 5-10%
emergency fund  $    2,397.46  $    199.79  $                   92.21  $          -    $     199.79
kids savings  $       141.96  $      11.83  $                     5.46  $      2.73  $         9.10
IRA  $    6,500.00  $    541.67  $                 250.00  $          -    $     541.67
investments  $              -    $           -    $                         -    $          -    $             -  
HOUSING 25-35%
dream home  $       260.00  $      21.67  $                   10.00  $          -    $       21.67
homeowner's insurance (Jan)  $       517.00  $      43.08  $                   19.88  $          -    $       43.08
Household improvement/ repair  $       381.68  $      31.81  $                   14.68  $          -    $       31.81
appliance replace  $       214.50  $      17.88  $                     8.25  $          -    $       17.88
real estate tax, county (Jun and Dec)  $    1,060.00  $      88.33  $                   40.77  $          -    $       88.33
real estate tax, town (Dec)  $       190.56  $      15.88  $                     7.33  $          -    $       15.88
UTILITIES 5-10%
internet  $       461.40  $      38.45  $                   17.75  $          -    $       38.45
phone- cell  $       944.32  $      78.69  $                   36.32  $          -    $       78.69
power  $    1,749.28  $    145.77  $                   67.28  $          -    $     145.77
water& trash  $    1,162.98  $      96.92  $                   44.73  $          -    $       96.92
FOOD 5-15%
groceries  $    4,940.00  $    411.67  $                 190.00  $          -    $     411.67
TRANSPORTATION 10-15%
car insurance (Jan and Jul)  $       342.32  $      28.53  $                   13.17  $          -    $       28.53
gasoline- buick and van  $    2,502.32  $    208.53  $                   96.24  $          -    $     208.53
registration, buick  $         39.42  $        3.28  $                     1.52  $          -    $         3.28
registration, van  $         44.42  $        3.70  $                     1.71  $          -    $         3.70
repair & maintain  $       485.42  $      40.45  $                   18.67  $          -    $       40.45
replace  $       994.24  $      82.85  $                   38.24  $          -    $       82.85
taxes, property- county (Dec)  $         62.69  $        5.22  $                     2.41  $          -    $         5.22
taxes, property-town (Dec)  $         75.54  $        6.30  $                     2.91  $          -    $         6.30
CLOTHING 2-7%
me  $         29.38  $        2.45  $                     1.13  $          -    $         2.45
kids  $         31.98  $        2.67  $                     1.23  $          -    $         2.67
husband  $         29.38  $        2.45  $                     1.13  $          -    $         2.45
MEDICAL 5-10%
health care  $    6,150.00  $    512.50  $                 236.54  $          -    $     512.50
health insurance- med, dent, vis, disability  $    4,927.78  $    410.65 $189.53  $          -    $     410.65
PERSONAL 5-10%
Christmas  $              -    $           -    $                         -    $          -    $             -  
gifts  $         34.58  $        2.88  $                     1.33  $          -    $         2.88
life insurance  $       110.00  $        9.17  $                     4.23  $          -    $         9.17
personal, me  $         39.78  $        3.32  $                     1.53  $          -    $         3.32
personal, kids  $       159.38  $      13.28  $                     6.13  $    50.84  $     (37.56)
personal, husband  $         39.78  $        3.32  $                     1.53  $          -    $         3.32
pets  $       676.00  $      56.33  $                   26.00  $          -    $       56.33
work  $              -    $           -    $                         -    $      5.04  $       (5.04)
RECREATION 5-10%
entertainment  $       106.60  $        8.88  $                     4.10  $          -    $         8.88
vacation  $         59.80  $        4.98  $                     2.30  $          -    $         4.98
disney  $    1,300.00  $    108.33  $                   50.00  $  250.00  $   (141.67)
DEBT 5-10%
husband's student loans  $    7,052.16  $    587.68  $                 271.24  $          -    $     587.68
husband's student loans extra  $              -    $           -    $          -    $             -  
NET SPENDING  $  53,163.54  $ 4,430.30  $              2,044.75  $  312.65  $  4,108.48
 DIFFERENCE: NET INCOME/SPENDING   $         (0.04)  $      (0.00)  $                   (0.00)  $(272.24)

Budget update- April final numbers

TOTAL INCOME  $  56,680.00  $ 4,723.33  $              2,180.00  $  6,349.69  $(1,626.36)
 Yearly total   Monthly   Average biweekly   Actual   Difference 
INCOME TAX
taxes, work  $    4,930.90  $    410.91  $                 189.65  $     983.53  $   (572.62)
NET INCOME  $  51,749.10  $ 4,312.43  $              1,990.35  $  5,366.16  $(1,053.74)
CHARITY 10-15%
fast offering  $    1,140.00  $      95.00  $                   43.85  $       95.00  $             -  
tithing  $    5,668.00  $    472.33  $                 218.00  $     634.97  $   (162.64)
SAVINGS 5-10%
emergency fund  $              -    $           -    $                         -    $             -    $             -  
kids savings  $       141.96  $      11.83  $                     5.46  $       10.92  $         0.91
IRA  $    6,500.00  $    541.67  $                 250.00  $     500.00  $       41.67
investments  $              -    $           -    $                         -    $             -    $             -  
HOUSING 25-35%
dream home  $       260.00  $      21.67  $                   10.00  $       20.00  $         1.67
homeowner's insurance (Jan)  $       517.00  $      43.08  $                   19.88  $             -    $       43.08
Household improvement/ repair  $              -    $           -    $                         -    $       45.64  $     (45.64)
appliance replace  $       214.50  $      17.88  $                     8.25  $             -    $       17.88
real estate tax, county (Jun and Dec)  $    1,060.00  $      88.33  $                   40.77  $             -    $       88.33
real estate tax, town (Dec)  $       190.56  $      15.88  $                     7.33  $             -    $       15.88
UTILITIES 5-10%
internet  $       461.40  $      38.45  $                   17.75  $       38.45  $             -  
phone- cell  $       919.88  $      76.66  $                   35.38  $       77.02  $       (0.36)
power  $    1,641.12  $    136.76  $                   63.12  $     171.93  $     (35.17)
water& trash  $    1,108.90  $      92.41  $                   42.65  $       98.77  $       (6.36)
FOOD 5-15%
groceries  $    4,940.00  $    411.67  $                 190.00  $     386.73  $       24.94
TRANSPORTATION 10-15%
car insurance (Jan and Jul)  $       342.32  $      28.53  $                   13.17  $             -    $       28.53
gasoline- buick and van  $    2,264.94  $    188.75  $                   87.11  $     107.04  $       81.71
registration, buick  $         39.42  $        3.28  $                     1.52  $             -    $         3.28
registration, van  $         44.42  $        3.70  $                     1.71  $             -    $         3.70
repair & maintain  $       780.00  $      65.00  $                   30.00  $     840.55  $   (775.55)
replace  $    1,794.00  $    149.50  $                   69.00  $             -    $     149.50
taxes, property- county (Dec)  $         62.69  $        5.22  $                     2.41  $             -    $         5.22
taxes, property-town (Dec)  $         75.54  $        6.30  $                     2.91  $             -    $         6.30
CLOTHING 2-7%
me  $         65.00  $        5.42  $                     2.50  $             -    $         5.42
kids  $         65.00  $        5.42  $                     2.50  $             -    $         5.42
husband  $         65.00  $        5.42  $                     2.50  $             -    $         5.42
MEDICAL 5-10%
health care  $    6,150.00  $    512.50  $                 236.54  $     294.24  $     218.26
health insurance- med, dent, vis  $    4,927.78  $    410.65 $189.53  $     379.06  $       31.59
PERSONAL 5-10%
Christmas  $              -    $           -    $                         -    $             -    $             -  
gifts  $         62.40  $        5.20  $                     2.40  $             -    $         5.20
personal, me  $         91.00  $        7.58  $                     3.50  $         3.38  $         4.20
personal, kids  $       871.00  $      72.58  $                   33.50  $     193.90  $   (121.32)
personal, husband  $         91.00  $        7.58  $                     3.50  $         3.38  $         4.20
pets  $       676.00  $      56.33  $                   26.00  $     114.92  $     (58.59)
work  $              -    $           -    $                         -    $     475.49  $   (475.49)
RECREATION 5-10%
entertainment  $         96.20  $        8.02  $                     3.70  $             -    $         8.02
vacation  $              -    $           -    $             -    $             -  
disney  $    1,300.00  $    108.33  $                   50.00  $     411.25  $   (302.92)
DEBT 5-10%
husband's student loans  $    7,052.16  $    587.68  $                 271.24  $     587.68  $             -  
husband's student loans extra  $              -    $           -    $             -    $             -  
NET SPENDING  $  51,679.19  $ 4,306.60  $              1,987.66  $  5,490.32  $(1,183.72)
 DIFFERENCE: NET INCOME/SPENDING   $         69.91  $        5.83  $                     2.69  $   (124.16)

Thursday, April 26, 2018

Budget update

TOTAL INCOME  $  56,680.00  $ 4,723.33  $              2,180.00  $  6,311.87  $(1,588.54)
 Yearly total   Monthly   Average biweekly   Actual   Difference 
INCOME TAX
taxes, work  $    4,930.90  $    410.91  $                 189.65  $     624.78  $   (213.87)
NET INCOME  $  51,749.10  $ 4,312.43  $              1,990.35  $  5,687.09  $(1,374.67)
CHARITY 10-15%
fast offering  $    1,140.00  $      95.00  $                   43.85  $       95.00  $             -  
tithing  $    5,668.00  $    472.33  $                 218.00  $     327.45  $     144.88
SAVINGS 5-10%
emergency fund  $              -    $           -    $                         -    $             -    $             -  
kids savings  $       141.96  $      11.83  $                     5.46  $       10.92  $         0.91
IRA  $    6,500.00  $    541.67  $                 250.00  $     500.00  $       41.67
investments  $              -    $           -    $                         -    $             -    $             -  
HOUSING 25-35%
dream home  $       260.00  $      21.67  $                   10.00  $       15.00  $         6.67
homeowner's insurance (Jan)  $       517.00  $      43.08  $                   19.88  $             -    $       43.08
Household improvement/ repair  $              -    $           -    $                         -    $       45.64  $     (45.64)
appliance replace  $       214.50  $      17.88  $                     8.25  $             -    $       17.88
real estate tax, county (Jun and Dec)  $    1,060.00  $      88.33  $                   40.77  $             -    $       88.33
real estate tax, town (Dec)  $       190.56  $      15.88  $                     7.33  $             -    $       15.88
UTILITIES 5-10%
internet  $       461.40  $      38.45  $                   17.75  $       38.45  $             -  
phone- cell  $       919.88  $      76.66  $                   35.38  $       77.02  $       (0.36)
power  $    1,641.12  $    136.76  $                   63.12  $     171.93  $     (35.17)
water& trash  $    1,108.90  $      92.41  $                   42.65  $       98.77  $       (6.36)
FOOD 5-15%
groceries  $    4,940.00  $    411.67  $                 190.00  $     275.17  $     136.50
TRANSPORTATION 10-15%
car insurance (Jan and Jul)  $       342.32  $      28.53  $                   13.17  $             -    $       28.53
gasoline- buick and van  $    2,330.92  $    194.24  $                   89.65  $       28.92  $     165.32
registration, buick  $         39.42  $        3.28  $                     1.52  $             -    $         3.28
registration, van  $         44.42  $        3.70  $                     1.71  $             -    $         3.70
repair & maintain  $       780.00  $      65.00  $                   30.00  $     840.55  $   (775.55)
replace  $    1,794.00  $    149.50  $                   69.00  $             -    $     149.50
taxes, property- county (Dec)  $         62.69  $        5.22  $                     2.41  $             -    $         5.22
taxes, property-town (Dec)  $         75.54  $        6.30  $                     2.91  $             -    $         6.30
CLOTHING 2-7%
me  $         65.00  $        5.42  $                     2.50  $             -    $         5.42
kids  $         65.00  $        5.42  $                     2.50  $             -    $         5.42
husband  $         65.00  $        5.42  $                     2.50  $             -    $         5.42
MEDICAL 5-10%
health care  $    6,150.00  $    512.50  $                 236.54  $     294.24  $     218.26
health insurance- med, dent, vis  $    4,927.78  $    410.65 $189.53  $     379.06  $       31.59
PERSONAL 5-10%
Christmas  $              -    $           -    $                         -    $             -    $             -  
gifts  $         62.40  $        5.20  $                     2.40  $             -    $         5.20
personal, me  $         91.00  $        7.58  $                     3.50  $         3.38  $         4.20
personal, kids  $       871.00  $      72.58  $                   33.50  $       46.90  $       25.68
personal, husband  $         91.00  $        7.58  $                     3.50  $         3.38  $         4.20
pets  $       676.00  $      56.33  $                   26.00  $     114.92  $     (58.59)
work  $              -    $           -    $                         -    $     394.22  $   (394.22)
RECREATION 5-10%
entertainment  $         96.20  $        8.02  $                     3.70  $             -    $         8.02
vacation  $              -    $           -    $             -    $             -  
disney  $    1,300.00  $    108.33  $                   50.00  $       90.00  $       18.33
DEBT 5-10%
husband's student loans  $    7,052.16  $    587.68  $                 271.24  $     587.68  $             -  
husband's student loans extra  $              -    $           -    $             -    $             -  
NET SPENDING  $  51,745.16  $ 4,312.10  $              1,990.20  $  4,438.60  $   (126.50)
 DIFFERENCE: NET INCOME/SPENDING   $           3.94  $        0.33  $                     0.15  $  1,248.49