Overall, during the month, we went over budget (besides savings, which I don't count, because more money is good!) in the following areas:
Household improvement and repair: I used money that was supposed to be for the shed we've had money laid aside for. Now we'll have to save up again.
Cell phone: my husband finally cancelled the phone insurance that I think is a waste of money this month, so that number should be better next time.
Groceries: this number looks high, but my weekly allotment is $80, and we had 5 Fridays (grocery day) this month, so I actually came in under budget.
Gas: we made a family trip up to Maryland last weekend, so our gas spending is higher than normal. This should even out over the year. We still have extra in our gas fund.
Car repair: we blew this one way out of the water- our van needed new tires and brakes this month. I should be more careful about laying more money aside for car repair- we did not have enough in our car fund to cover the repairs. We have enough to "borrow" from our other savings funds, but I'll have to "pay" them back later, or we'll end up in the same boat as now, only under a different category.
Clothing, me: I needed some new pants- I had money in my fund for it.
Medical: we had more than the usual trips to the doctor this month, from a mutant wart that needed surgery, to a nursemaid's elbow with accompanying x-rays. Hopefully the kids will be less crazy next month!
Health insurance: extra paycheck= extra health insurance payment- we didn't really go over here.
Personal, me: again- I had the money in my fund.
Work: still waiting on my husband to submit his expense report...
Entertainment: we had money in our fund.
Vacation: we took the trip to Maryland, so the hotel came out of this- we had money in our fund, though I will have to get creative when we're planning our vacation this summer- KOA anyone?
From this point forward, I am just going to state that we went over budget if the money is not there in its associated category fund and we have to "borrow" from our other funds, or from the overage when my husband works overtime. My goal is to only ever spend money that we have dedicated and saved in each category. I am exceptionally undisciplined in this, thinking it will all even out eventually, and usually it does, but sometimes it doesn't and we have to make more than the usual sacrifices to keep from having to carry a balance on our credit card, or I sit and worry while we are racing checks, hoping nothing bounces.
The thing that bothers me the most is that the money that is borrowed from other funds sometimes never gets paid back, and it's usually out of our more personal funds, like entertainment, or money I got for Christmas, clothing, or vacation, and I hate to cheat these funds, considering how little money we have in them anyway.
Saturday, October 31, 2015
Budget update- final numbers for October!
| TOTAL INCOME | $ 43,992.00 | $ 3,666.00 | $ 1,692.00 | $ 5,710.91 | $(2,044.91) |
| Yearly total | Monthly | Average biweekly | Actual | Difference | |
| INCOME TAX | |||||
| taxes, work | $ 2,710.24 | $ 225.85 | $ 104.24 | $ 354.77 | $ (128.92) |
| NET INCOME | $ 41,281.76 | $ 3,440.15 | $ 1,587.76 | $ 5,356.14 | $(1,915.99) |
| CHARITY 10-15% | |||||
| fast offering | $ 719.94 | $ 60.00 | $ 27.69 | $ 60.00 | $ (0.00) |
| tithing | $ 4,399.20 | $ 366.60 | $ 169.20 | $ 361.18 | $ 5.42 |
| SAVINGS 5-10% | |||||
| emergency fund | $ - | $ - | $ - | $ - | $ - |
| kids savings | $ 57.20 | $ 4.77 | $ 2.20 | $ 4.40 | $ 0.37 |
| retirement | $ 1,319.76 | $ 109.98 | $ 50.76 | $ 168.77 | $ (58.79) |
| HOUSING 25-35% | |||||
| dream home | $ - | $ - | $ - | $ 27.32 | $ (27.32) |
| homeowner's insurance (Jan) | $ 503.00 | $ 41.92 | $ 19.35 | $ - | $ 41.92 |
| Household improvement/ repair | $ 139.88 | $ 11.66 | $ 5.38 | $ 195.05 | $ (183.39) |
| real estate tax, county (Jun and Dec) | $ 1,210.40 | $ 100.87 | $ 46.55 | $ - | $ 100.87 |
| real estate tax, town (Dec) | $ 180.70 | $ 15.06 | $ 6.95 | $ - | $ 15.06 |
| UTILITIES 5-10% | |||||
| internet | $ 251.40 | $ 20.95 | $ 9.67 | $ 20.95 | $ - |
| phone- cell | $ 251.68 | $ 20.97 | $ 9.68 | $ 30.75 | $ (9.78) |
| phone- home | $ 189.12 | $ 15.76 | $ 7.27 | $ 15.76 | $ - |
| power | $ 2,174.90 | $ 181.24 | $ 83.65 | $ 116.37 | $ 64.87 |
| water& trash (odd months) | $ 1,288.56 | $ 107.38 | $ 49.56 | $ - | $ 107.38 |
| FOOD 5-15% | |||||
| groceries | $ 4,212.00 | $ 351.00 | $ 162.00 | $ 369.15 | $ (18.15) |
| TRANSPORTATION 10-15% | |||||
| car insurance (Jan and Jul) | $ 451.66 | $ 37.64 | $ 17.37 | $ - | $ 37.64 |
| gasoline- buick | $ 767.42 | $ 63.95 | $ 29.52 | $ 46.74 | $ 17.21 |
| gasoline- van | $ 973.54 | $ 81.13 | $ 37.44 | $ 129.68 | $ (48.55) |
| registration, buick | $ 39.42 | $ 3.28 | $ 1.52 | $ - | $ 3.28 |
| registration, van | $ 44.42 | $ 3.70 | $ 1.71 | $ - | $ 3.70 |
| repair, maintain, and replace | $ 218.92 | $ 18.24 | $ 8.42 | $ 705.86 | $ (687.62) |
| taxes, property- county (Dec) | $ 107.26 | $ 8.94 | $ 4.13 | $ - | $ 8.94 |
| taxes, property-town (Dec) | $ 84.86 | $ 7.07 | $ 3.26 | $ - | $ 7.07 |
| CLOTHING 2-7% | |||||
| me | $ 14.30 | $ 1.19 | $ 0.55 | $ 11.85 | $ (10.66) |
| kids | $ 34.06 | $ 2.84 | $ 1.31 | $ 2.63 | $ 0.21 |
| husband | $ 23.40 | $ 1.95 | $ 0.90 | $ - | $ 1.95 |
| MEDICAL 5-10% | |||||
| health care | $ 2,600.00 | $ 216.67 | $ 100.00 | $ 435.60 | $ (218.93) |
| health insurance | $ 5,994.30 | $ 499.53 | $230.55 | $ 691.65 | $ (192.13) |
| PERSONAL 5-10% | |||||
| Christmas | $ 16.12 | $ 1.34 | $ 0.62 | $ - | $ 1.34 |
| gifts | $ 8.06 | $ 0.67 | $ 0.31 | $ - | $ 0.67 |
| personal, me | $ 15.34 | $ 1.28 | $ 0.59 | $ 9.48 | $ (8.20) |
| personal, kids | $ 149.76 | $ 12.48 | $ 5.76 | $ 11.27 | $ 1.21 |
| personal, husband | $ 173.68 | $ 14.47 | $ 6.68 | $ 2.46 | $ 12.01 |
| pets | $ 676.00 | $ 56.33 | $ 26.00 | $ 44.33 | $ 12.00 |
| work | $ 0.78 | $ 0.07 | $ 0.03 | $ 1,005.34 | $(1,005.28) |
| RECREATION 5-10% | |||||
| entertainment | $ 15.34 | $ 1.28 | $ 0.59 | $ 5.20 | $ (3.92) |
| vacation | $ 87.10 | $ 7.26 | $ 3.35 | $ 65.00 | $ (57.74) |
| disney | $ 1,300.00 | $ 108.33 | $ 50.00 | $ 100.00 | $ 8.33 |
| DEBT 5-10% | |||||
| my student loans | $ 573.24 | $ 47.77 | $ 22.05 | $ 47.77 | $ - |
| husband's student loans | $ 896.04 | $ 74.67 | $ 34.46 | $ 74.67 | $ - |
| husband's student loans extra | $ 9,076.86 | $ 756.41 | $ 349.11 | $ 1,123.83 | $ (367.43) |
| NET SPENDING | $ 41,239.61 | $ 3,436.63 | $ 1,586.14 | $ 5,883.06 | $(2,446.43) |
| DIFFERENCE | $ 42.15 | $ 3.51 | $ 1.62 | $ (526.92) |
Tuesday, October 27, 2015
Budget category explanation: medical
This category is fairly self- explanatory! Everyday items like band- aids, ibuprofen, and antibiotic cream fall under our grocery bill. Everything else, from glasses to prescriptions to hospital stays, falls under medical. We contribute to our Health Savings Account every paycheck, and my husband's company deposits money into it a few times a year, and that fairly well covers any expenses we have. We have a high- deductible health insurance plan, which we've hit the deductible on a few years (especially on a year when we had a baby), and have had to draw money out of savings to cover what we didn't have in the HSA, but most of the time, it evens out on our off years where we don't have a baby or a trip to the ER with our little monkeys.
Saturday, October 24, 2015
Budget update
| TOTAL INCOME | $ 43,992.00 | $ 3,666.00 | $ 1,692.00 | $ 3,611.77 | $ 54.23 |
| Yearly total | Monthly | Average biweekly | Actual | Difference | |
| INCOME TAX | |||||
| taxes, work | $ 2,710.24 | $ 225.85 | $ 104.24 | $ 219.39 | $ 6.46 |
| NET INCOME | $ 41,281.76 | $ 3,440.15 | $ 1,587.76 | $ 3,392.38 | $ 47.77 |
| CHARITY 10-15% | |||||
| fast offering | $ 719.94 | $ 60.00 | $ 27.69 | $ 60.00 | $ (0.00) |
| tithing | $ 4,399.20 | $ 366.60 | $ 169.20 | $ 361.18 | $ 5.42 |
| SAVINGS 5-10% | |||||
| emergency fund | $ - | $ - | $ - | $ - | $ - |
| kids savings | $ 57.20 | $ 4.77 | $ 2.20 | $ 3.30 | $ 1.47 |
| retirement | $ 1,319.76 | $ 109.98 | $ 50.76 | $ 105.80 | $ 4.18 |
| HOUSING 25-35% | |||||
| dream home | $ - | $ - | $ - | $ 17.02 | $ (17.02) |
| homeowner's insurance (Jan) | $ 503.00 | $ 41.92 | $ 19.35 | $ - | $ 41.92 |
| Household improvement/ repair | $ 139.88 | $ 11.66 | $ 5.38 | $ 190.85 | $ (179.19) |
| real estate tax, county (Jun and Dec) | $ 1,210.40 | $ 100.87 | $ 46.55 | $ - | $ 100.87 |
| real estate tax, town (Dec) | $ 180.70 | $ 15.06 | $ 6.95 | $ - | $ 15.06 |
| UTILITIES 5-10% | |||||
| internet | $ 251.40 | $ 20.95 | $ 9.67 | $ 20.95 | $ - |
| phone- cell | $ 251.68 | $ 20.97 | $ 9.68 | $ 30.75 | $ (9.78) |
| phone- home | $ 189.12 | $ 15.76 | $ 7.27 | $ 15.76 | $ - |
| power | $ 2,174.90 | $ 181.24 | $ 83.65 | $ 116.37 | $ 64.87 |
| water& trash (odd months) | $ 1,288.56 | $ 107.38 | $ 49.56 | $ - | $ 107.38 |
| FOOD 5-15% | |||||
| groceries | $ 4,212.00 | $ 351.00 | $ 162.00 | $ 311.22 | $ 39.78 |
| TRANSPORTATION 10-15% | |||||
| car insurance (Jan and Jul) | $ 451.66 | $ 37.64 | $ 17.37 | $ - | $ 37.64 |
| gasoline- buick | $ 767.42 | $ 63.95 | $ 29.52 | $ 21.93 | $ 42.02 |
| gasoline- van | $ 973.54 | $ 81.13 | $ 37.44 | $ 96.14 | $ (15.01) |
| registration, buick | $ 39.42 | $ 3.28 | $ 1.52 | $ - | $ 3.28 |
| registration, van | $ 44.42 | $ 3.70 | $ 1.71 | $ - | $ 3.70 |
| repair, maintain, and replace | $ 218.92 | $ 18.24 | $ 8.42 | $ 465.80 | $ (447.56) |
| taxes, property- county (Dec) | $ 107.26 | $ 8.94 | $ 4.13 | $ - | $ 8.94 |
| taxes, property-town (Dec) | $ 84.86 | $ 7.07 | $ 3.26 | $ - | $ 7.07 |
| CLOTHING 2-7% | |||||
| me | $ 14.30 | $ 1.19 | $ 0.55 | $ - | $ 1.19 |
| kids | $ 34.06 | $ 2.84 | $ 1.31 | $ - | $ 2.84 |
| husband | $ 23.40 | $ 1.95 | $ 0.90 | $ - | $ 1.95 |
| MEDICAL 5-10% | |||||
| health care | $ 2,600.00 | $ 216.67 | $ 100.00 | $ 435.60 | $ (218.93) |
| health insurance | $ 5,994.30 | $ 499.53 | $230.55 | $ 461.10 | $ 38.42 |
| PERSONAL 5-10% | |||||
| Christmas | $ 16.12 | $ 1.34 | $ 0.62 | $ - | $ 1.34 |
| gifts | $ 8.06 | $ 0.67 | $ 0.31 | $ - | $ 0.67 |
| personal, me | $ 15.34 | $ 1.28 | $ 0.59 | $ 7.02 | $ (5.74) |
| personal, kids | $ 149.76 | $ 12.48 | $ 5.76 | $ 1.05 | $ 11.43 |
| personal, husband | $ 173.68 | $ 14.47 | $ 6.68 | $ - | $ 14.47 |
| pets | $ 676.00 | $ 56.33 | $ 26.00 | $ 41.29 | $ 15.04 |
| work | $ 0.78 | $ 0.07 | $ 0.03 | $ 1,005.34 | $(1,005.28) |
| RECREATION 5-10% | |||||
| entertainment | $ 15.34 | $ 1.28 | $ 0.59 | $ 5.20 | $ (3.92) |
| vacation | $ 87.10 | $ 7.26 | $ 3.35 | $ 65.00 | $ (57.74) |
| disney | $ 1,300.00 | $ 108.33 | $ 50.00 | $ 100.00 | $ 8.33 |
| DEBT 5-10% | |||||
| my student loans | $ 573.24 | $ 47.77 | $ 22.05 | $ 47.77 | $ - |
| husband's student loans | $ 896.04 | $ 74.67 | $ 34.46 | $ 74.67 | $ - |
| husband's student loans extra | $ 9,076.86 | $ 756.41 | $ 349.11 | $ 774.72 | $ (18.31) |
| NET SPENDING | $ 41,239.61 | $ 3,436.63 | $ 1,586.14 | $ 4,835.83 | $(1,399.20) |
| DIFFERENCE | $ 42.15 | $ 3.51 | $ 1.62 | $(1,443.45) |
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