Thursday, August 25, 2016

Budget update


TOTAL INCOME  $   52,353.60  $ 4,362.80  $              2,013.60  $ 4,202.78  $      160.02

 Yearly total   Monthly   Average biweekly   Actual   Difference 
INCOME TAX




taxes, work  $     3,341.78  $    278.48  $                 128.53  $    262.83  $        15.65






NET INCOME  $   49,011.82  $ 4,084.32  $              1,885.07  $ 3,939.95  $      144.37






CHARITY 10-15%




fast offering  $     1,056.00  $      88.00  $                   40.62  $      88.00  $             -  
tithing  $     5,235.36  $    436.28  $                 201.36  $    420.28  $        16.00
SAVINGS 5-10%




emergency fund  $                -    $           -    $                         -    $           -    $             -  
kids savings  $          93.08  $        7.76  $                     3.58  $        7.16  $          0.60
retirement  $     4,711.82  $    392.65  $                 181.22  $    369.24  $        23.41
HOUSING 25-35%




dream home  $        260.00  $      21.67  $                   10.00  $      20.00  $          1.67
homeowner's insurance (Jan)  $        518.00  $      43.17  $                   19.92  $           -    $        43.17
Household improvement/ repair  $        411.32  $      34.28  $                   15.82  $    210.97  $    (176.69)
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  $        236.86  $      19.74  $                     9.11  $      19.11  $          0.63
phone- home  $        189.12  $      15.76  $                     7.27  $           -    $        15.76
power  $     1,840.28  $    153.36  $                   70.78  $      97.25  $        56.11
water& trash  $     1,067.04  $      88.92  $                   41.04  $      89.99  $        (1.07)
FOOD 5-15%




groceries  $     4,576.00  $    381.33  $                 176.00  $    251.28  $      130.05
TRANSPORTATION 10-15%




car insurance (Jan and Jul)  $        410.30  $      34.19  $                   15.78  $           -    $        34.19
gasoline- buick  $        765.55  $      63.80  $                   29.44  $      54.24  $          9.56
gasoline- van  $     1,112.88  $      92.74  $                   42.80  $      80.24  $        12.50
registration, buick  $          39.42  $        3.28  $                     1.52  $           -    $          3.28
registration, van  $          44.42  $        3.70  $                     1.71  $           -    $          3.70
repair & maintain  $     1,703.00  $    141.92  $                   65.50  $           -    $      141.92
replace  $     1,040.00  $      86.67  $                   40.00  $           -    $        86.67
taxes, property- county (Dec)  $          89.55  $        7.46  $                     3.44  $           -    $          7.46
taxes, property-town (Dec)  $          81.44  $        6.79  $                     3.13  $           -    $          6.79
CLOTHING 2-7%




me  $        130.00  $      10.83  $                     5.00  $        6.30  $          4.53
kids  $        234.00  $      19.50  $                     9.00  $           -    $        19.50
husband  $        130.00  $      10.83  $                     5.00  $           -    $        10.83
MEDICAL 5-10%




health care  $     4,160.00  $    346.67  $                 160.00  $    243.99  $      102.68
health insurance  $     4,564.82  $    380.40 $175.57  $    351.14  $        29.26
PERSONAL 5-10%




Christmas  $        286.00  $      23.83  $                   11.00  $           -    $        23.83
gifts  $        130.00  $      10.83  $                     5.00  $           -    $        10.83
personal, me  $          78.00  $        6.50  $                     3.00  $        5.00  $          1.50
personal, kids  $     1,040.00  $      86.67  $                   40.00  $    162.16  $      (75.49)
personal, husband  $          78.00  $        6.50  $                     3.00  $        5.75  $          0.75
pets  $        676.00  $      56.33  $                   26.00  $           -    $        56.33
work  $                -    $           -    $                         -    $    346.84  $    (346.84)
RECREATION 5-10%




entertainment  $        260.00  $      21.67  $                   10.00  $      48.30  $      (26.63)
vacation  $        500.50  $      41.71  $                   19.25  $      71.38  $      (29.67)
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  $     7,052.16  $    587.68  $                 271.24  $    587.68  $             -  
husband's student loans extra  $        411.32  $      34.28  $                   15.82  $    161.90  $    (127.62)
NET SPENDING  $   42,991.11  $ 3,582.59  $              1,885.07  $ 3,027.72  $      554.87
 DIFFERENCE: NET INCOME/SPENDING   $     6,020.71  $    501.73  $                   (0.00)  $    912.23  $    (410.50)

Saturday, August 20, 2016

Where we went over budget

We spent $10 over what we had in our account for entertainment.  These little indiscretions add up, and I used to just let them be absorbed by my husband's extra income, but now I've decided if we run up a "negative balance" on some categories, I am going to "repay" the balance with future category deposits, rather than just evening it out with the extra income, which is supposed to be going towards student loans.  We have a debt payoff plan that is in line with our average extra income every year divided by 12, so that we SHOULD be paying an average of an extra $304 per month, but as you can see, that hasn't been happening because the money is slipping away towards our overspending in other categories.  So, I set up automatic debits with his student loans for the extra $304 on top of his regular monthly payment to keep ourselves accountable.
I've decided to change our budget update to Thursdays, since that is when I sit down to balance the checkbook anyway, so that makes more sense to me.

Budget update


TOTAL INCOME  $   52,353.60  $ 4,362.80  $              2,013.60  $ 4,199.71  $      163.09

 Yearly total   Monthly   Average biweekly   Actual   Difference 
INCOME TAX




taxes, work  $     3,341.78  $    278.48  $                 128.53  $    262.83  $        15.65






NET INCOME  $   49,011.82  $ 4,084.32  $              1,885.07  $ 3,936.88  $      147.44






CHARITY 10-15%




fast offering  $     1,056.00  $      88.00  $                   40.62  $      88.00  $             -  
tithing  $     5,235.36  $    436.28  $                 201.36  $    419.97  $        16.31
SAVINGS 5-10%




emergency fund  $                -    $           -    $                         -    $           -    $             -  
kids savings  $          93.08  $        7.76  $                     3.58  $        5.37  $          2.39
retirement  $     4,711.82  $    392.65  $                 181.22  $    369.24  $        23.41
HOUSING 25-35%




dream home  $        260.00  $      21.67  $                   10.00  $      15.00  $          6.67
homeowner's insurance (Jan)  $        518.00  $      43.17  $                   19.92  $           -    $        43.17
Household improvement/ repair  $        411.32  $      34.28  $                   15.82  $    210.97  $    (176.69)
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  $        236.86  $      19.74  $                     9.11  $      19.11  $          0.63
phone- home  $        189.12  $      15.76  $                     7.27  $           -    $        15.76
power  $     1,840.28  $    153.36  $                   70.78  $      97.25  $        56.11
water& trash  $     1,067.04  $      88.92  $                   41.04  $      89.99  $        (1.07)
FOOD 5-15%




groceries  $     4,576.00  $    381.33  $                 176.00  $    255.04  $      126.29
TRANSPORTATION 10-15%




car insurance (Jan and Jul)  $        410.30  $      34.19  $                   15.78  $           -    $        34.19
gasoline- buick  $        765.55  $      63.80  $                   29.44  $      26.86  $        36.94
gasoline- van  $     1,112.88  $      92.74  $                   42.80  $      80.24  $        12.50
registration, buick  $          39.42  $        3.28  $                     1.52  $           -    $          3.28
registration, van  $          44.42  $        3.70  $                     1.71  $           -    $          3.70
repair & maintain  $     1,703.00  $    141.92  $                   65.50  $           -    $      141.92
replace  $     1,040.00  $      86.67  $                   40.00  $           -    $        86.67
taxes, property- county (Dec)  $          89.55  $        7.46  $                     3.44  $           -    $          7.46
taxes, property-town (Dec)  $          81.44  $        6.79  $                     3.13  $           -    $          6.79
CLOTHING 2-7%




me  $        130.00  $      10.83  $                     5.00  $        6.30  $          4.53
kids  $        234.00  $      19.50  $                     9.00  $           -    $        19.50
husband  $        130.00  $      10.83  $                     5.00  $           -    $        10.83
MEDICAL 5-10%




health care  $     4,160.00  $    346.67  $                 160.00  $    243.99  $      102.68
health insurance  $     4,564.82  $    380.40 $175.57  $    351.14  $        29.26
PERSONAL 5-10%




Christmas  $        286.00  $      23.83  $                   11.00  $           -    $        23.83
gifts  $        130.00  $      10.83  $                     5.00  $           -    $        10.83
personal, me  $          78.00  $        6.50  $                     3.00  $        5.00  $          1.50
personal, kids  $     1,040.00  $      86.67  $                   40.00  $    161.62  $      (74.95)
personal, husband  $          78.00  $        6.50  $                     3.00  $        5.75  $          0.75
pets  $        676.00  $      56.33  $                   26.00  $           -    $        56.33
work  $                -    $           -    $                         -    $      87.54  $      (87.54)
RECREATION 5-10%




entertainment  $        260.00  $      21.67  $                   10.00  $      48.30  $      (26.63)
vacation  $        500.50  $      41.71  $                   19.25  $      71.38  $      (29.67)
disney  $     1,300.00  $    108.33  $                   50.00  $      75.00  $        33.33
DEBT 5-10%




my student loans  $        573.24  $      47.77  $                   22.05  $      47.77  $             -  
husband's student loans  $     7,052.16  $    587.68  $                 271.24  $    587.68  $             -  
husband's student loans extra  $        411.32  $      34.28  $                   15.82  $    161.90  $    (127.62)
NET SPENDING  $   42,991.11  $ 3,582.59  $              1,885.07  $ 2,972.00  $      610.59
 DIFFERENCE: NET INCOME/SPENDING   $     6,020.71  $    501.73  $                   (0.00)  $    964.88  $    (463.15)