| TOTAL INCOME | $ 47,008.00 | $ 3,917.33 | $ 1,808.00 | $ 1,958.40 | $ 1,958.93 |
| Yearly total | Monthly | Average biweekly | Actual | Difference | |
| INCOME TAX | |||||
| taxes, work | $ 2,710.24 | $ 225.85 | $ 104.24 | $ 119.67 | $ 106.18 |
| NET INCOME | $ 44,297.76 | $ 3,691.48 | $ 1,703.76 | $ 1,838.73 | $ 1,852.75 |
| CHARITY 10-15% | |||||
| fast offering | $ 719.94 | $ 60.00 | $ 27.69 | $ 60.00 | $ (0.00) |
| tithing | $ 4,700.80 | $ 391.73 | $ 180.80 | $ 195.84 | $ 195.89 |
| SAVINGS 5-10% | |||||
| emergency fund | $ 1,500.72 | $ 125.06 | $ 57.72 | $ - | $ 125.06 |
| kids savings | $ 65.00 | $ 5.42 | $ 2.50 | $ 1.25 | $ 4.17 |
| retirement | $ 1,319.76 | $ 109.98 | $ 50.76 | $ 56.95 | $ 53.03 |
| HOUSING 25-35% | |||||
| dream home | $ 736.32 | $ 61.36 | $ 28.32 | $ 14.81 | $ 46.55 |
| homeowner's insurance (Jan) | $ 518.00 | $ 43.17 | $ 19.92 | $ 518.00 | $ (474.83) |
| Household improvement/ repair | $ 234.00 | $ 19.50 | $ 9.00 | $ 11.77 | $ 7.73 |
| real estate tax, county (Jun and Dec) | $ 1,210.40 | $ 100.87 | $ 46.55 | $ - | $ 100.87 |
| real estate tax, town (Dec) | $ 217.60 | $ 18.13 | $ 8.37 | $ - | $ 18.13 |
| UTILITIES 5-10% | |||||
| internet | $ 293.28 | $ 24.44 | $ 11.28 | $ - | $ 24.44 |
| phone- cell | $ 230.36 | $ 19.20 | $ 8.86 | $ 16.09 | $ 3.11 |
| phone- home | $ 189.12 | $ 15.76 | $ 7.27 | $ - | $ 15.76 |
| power | $ 2,065.44 | $ 172.12 | $ 79.44 | $ 190.41 | $ (18.29) |
| water& trash (odd months) | $ 1,225.12 | $ 102.09 | $ 47.12 | $ 187.97 | $ (85.88) |
| FOOD 5-15% | |||||
| groceries | $ 4,576.00 | $ 381.33 | $ 176.00 | $ 165.74 | $ 215.59 |
| TRANSPORTATION 10-15% | |||||
| car insurance (Jan and Jul) | $ 479.30 | $ 39.94 | $ 18.43 | $ - | $ 39.94 |
| gasoline- buick | $ 669.79 | $ 55.82 | $ 25.76 | $ 23.27 | $ 32.55 |
| gasoline- van | $ 902.90 | $ 75.24 | $ 34.73 | $ 26.00 | $ 49.24 |
| registration, buick | $ 39.42 | $ 3.28 | $ 1.52 | $ - | $ 3.28 |
| registration, van | $ 44.42 | $ 3.70 | $ 1.71 | $ - | $ 3.70 |
| repair & maintain | $ 294.32 | $ 24.53 | $ 11.32 | $ - | $ 24.53 |
| replace | $ 198.12 | $ 16.51 | $ 7.62 | $ - | $ 16.51 |
| 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 | $ 2.34 | $ 0.20 | $ 0.09 | $ - | $ 0.20 |
| kids | $ 44.20 | $ 3.68 | $ 1.70 | $ 13.69 | $ (10.01) |
| husband | $ 22.88 | $ 1.91 | $ 0.88 | $ - | $ 1.91 |
| MEDICAL 5-10% | |||||
| health care | $ 4,160.00 | $ 346.67 | $ 160.00 | $ - | $ 346.67 |
| health insurance | $ 4,564.82 | $ 380.40 | $175.57 | $ 175.57 | $ 204.83 |
| PERSONAL 5-10% | |||||
| Christmas | $ 57.20 | $ 4.77 | $ 2.20 | $ - | $ 4.77 |
| gifts | $ 13.78 | $ 1.15 | $ 0.53 | $ - | $ 1.15 |
| personal, me | $ 17.16 | $ 1.43 | $ 0.66 | $ - | $ 1.43 |
| personal, kids | $ 149.50 | $ 12.46 | $ 5.75 | $ 0.50 | $ 11.96 |
| personal, husband | $ 12.74 | $ 1.06 | $ 0.49 | $ - | $ 1.06 |
| pets | $ 676.00 | $ 56.33 | $ 26.00 | $ 36.83 | $ 19.50 |
| work | $ 9.88 | $ 0.82 | $ 0.38 | $ 64.35 | $ (63.53) |
| RECREATION 5-10% | |||||
| entertainment | $ 29.90 | $ 2.49 | $ 1.15 | $ - | $ 2.49 |
| vacation | $ 89.96 | $ 7.50 | $ 3.46 | $ - | $ 7.50 |
| disney | $ 1,300.00 | $ 108.33 | $ 50.00 | $ - | $ 108.33 |
| 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 | $ 2,920.84 | $ 243.40 | $ 112.34 | $ 166.34 | $ 77.06 |
| NET SPENDING | $ 44,297.71 | $ 3,691.48 | $ 1,703.76 | $ 1,925.38 | $ 1,766.10 |
| DIFFERENCE | $ 0.05 | $ 0.00 | $ 0.00 | $ (86.65) |
Saturday, January 9, 2016
Budget update
Friday, January 1, 2016
January's challenge!
So, as far as discretionary expenses go, we're at the bottom of the barrel. For us, we don't tend to spend too much in these categories anyway, so we're not going to see exceptional savings, but perhaps this will be a monumental challenge to others out there, so we'll do it together!
The final savings category for challenges before we start over are the more personal expenses. If necessary, you really could go low on these, just for a month, and save a lot of money. The challenge for us will include:
Cell phone
Clothing
Personal (for all of us- this includes things that only go for one person (outside of clothing), like a haircut, a new book, a class or lessons, etc)
Gifts
Entertainment
Since it would be reckless of me to not get a gift until the very beginning of February, considering 4 of us have February birthdays, you will see me spending money on gifts this month, I have, however, already laid aside the money, so I will only make note if I go over my budget.
Since these are almost all purely discretionary expenses, I will simply try to go on a spending freeze (minus gifts) and transfer the money I would have put into savings for each of these items at the end of the month into our dream home fund. The exception would be the cell phone bill, which I will compare the actual bill to the average and transfer the difference to the dream home fund.
Are you ready to save? Let's go!
The final savings category for challenges before we start over are the more personal expenses. If necessary, you really could go low on these, just for a month, and save a lot of money. The challenge for us will include:
Cell phone
Clothing
Personal (for all of us- this includes things that only go for one person (outside of clothing), like a haircut, a new book, a class or lessons, etc)
Gifts
Entertainment
Since it would be reckless of me to not get a gift until the very beginning of February, considering 4 of us have February birthdays, you will see me spending money on gifts this month, I have, however, already laid aside the money, so I will only make note if I go over my budget.
Since these are almost all purely discretionary expenses, I will simply try to go on a spending freeze (minus gifts) and transfer the money I would have put into savings for each of these items at the end of the month into our dream home fund. The exception would be the cell phone bill, which I will compare the actual bill to the average and transfer the difference to the dream home fund.
Are you ready to save? Let's go!
Budget update- final numbers for December!
| TOTAL INCOME | $ 43,992.00 | $ 3,666.00 | $ 1,692.00 | $ 4,164.65 | $ (498.65) |
| Yearly total | Monthly | Average biweekly | Actual | Difference | |
| INCOME TAX | |||||
| taxes, work | $ 2,710.24 | $ 225.85 | $ 104.24 | $ 261.17 | $ (35.32) |
| NET INCOME | $ 41,281.76 | $ 3,440.15 | $ 1,587.76 | $ 3,903.48 | $ (463.33) |
| CHARITY 10-15% | |||||
| fast offering | $ 719.94 | $ 60.00 | $ 27.69 | $ 60.00 | $ (0.00) |
| tithing | $ 4,399.20 | $ 366.60 | $ 169.20 | $ 426.47 | $ (59.87) |
| SAVINGS 5-10% | |||||
| emergency fund | $ - | $ - | $ - | $ - | $ - |
| kids savings | $ 59.80 | $ 4.98 | $ 2.30 | $ 4.80 | $ 0.18 |
| retirement | $ 1,319.76 | $ 109.98 | $ 50.76 | $ 122.17 | $ (12.19) |
| HOUSING 25-35% | |||||
| dream home | $ 26.00 | $ 2.17 | $ 1.00 | $ 56.98 | $ (54.81) |
| homeowner's insurance (Jan) | $ 503.00 | $ 41.92 | $ 19.35 | $ - | $ 41.92 |
| Household improvement/ repair | $ 173.42 | $ 14.45 | $ 6.67 | $ 145.80 | $ (131.35) |
| real estate tax, county (Jun and Dec) | $ 1,210.40 | $ 100.87 | $ 46.55 | $ 605.20 | $ (504.33) |
| real estate tax, town (Dec) | $ 180.70 | $ 15.06 | $ 6.95 | $ 217.60 | $ (202.54) |
| UTILITIES 5-10% | |||||
| internet | $ 251.40 | $ 20.95 | $ 9.67 | $ 24.44 | $ (3.49) |
| phone- cell | $ 242.32 | $ 20.19 | $ 9.32 | $ 16.03 | $ 4.16 |
| phone- home | $ 189.12 | $ 15.76 | $ 7.27 | $ 15.76 | $ - |
| power | $ 2,089.62 | $ 174.14 | $ 80.37 | $ 141.64 | $ 32.50 |
| water& trash (odd months) | $ 1,298.96 | $ 108.25 | $ 49.96 | $ - | $ 108.25 |
| FOOD 5-15% | |||||
| groceries | $ 4,576.00 | $ 381.33 | $ 176.00 | $ 308.10 | $ 73.23 |
| TRANSPORTATION 10-15% | |||||
| car insurance (Jan and Jul) | $ 451.66 | $ 37.64 | $ 17.37 | $ - | $ 37.64 |
| gasoline- buick | $ 685.10 | $ 57.09 | $ 26.35 | $ 43.88 | $ 13.21 |
| gasoline- van | $ 923.53 | $ 76.96 | $ 35.52 | $ 88.75 | $ (11.79) |
| registration, buick | $ 39.42 | $ 3.28 | $ 1.52 | $ - | $ 3.28 |
| registration, van | $ 44.42 | $ 3.70 | $ 1.71 | $ - | $ 3.70 |
| repair, maintain, and replace | $ 224.38 | $ 18.70 | $ 8.63 | $ - | $ 18.70 |
| taxes, property- county (Dec) | $ 89.55 | $ 7.46 | $ 3.44 | $ 89.55 | $ (82.09) |
| taxes, property-town (Dec) | $ 84.86 | $ 7.07 | $ 3.26 | $ 81.44 | $ (74.37) |
| CLOTHING 2-7% | |||||
| me | $ 15.86 | $ 1.32 | $ 0.61 | $ - | $ 1.32 |
| kids | $ 40.04 | $ 3.34 | $ 1.54 | $ - | $ 3.34 |
| husband | $ 21.84 | $ 1.82 | $ 0.84 | $ - | $ 1.82 |
| MEDICAL 5-10% | |||||
| health care | $ 2,600.00 | $ 216.67 | $ 100.00 | $ 192.35 | $ 24.32 |
| health insurance | $ 5,994.30 | $ 499.53 | $230.55 | $ 461.10 | $ 38.42 |
| PERSONAL 5-10% | |||||
| Christmas | $ 15.34 | $ 1.28 | $ 0.59 | $ 271.56 | $ (270.28) |
| gifts | $ 10.40 | $ 0.87 | $ 0.40 | $ - | $ 0.87 |
| personal, me | $ 15.34 | $ 1.28 | $ 0.59 | $ - | $ 1.28 |
| personal, kids | $ 123.50 | $ 10.29 | $ 4.75 | $ 1.35 | $ 8.94 |
| personal, husband | $ 13.00 | $ 1.08 | $ 0.50 | $ 5.29 | $ (4.21) |
| pets | $ 676.00 | $ 56.33 | $ 26.00 | $ 118.72 | $ (62.39) |
| work | $ 8.32 | $ 0.69 | $ 0.32 | $ (110.98) | $ 111.67 |
| RECREATION 5-10% | |||||
| entertainment | $ 17.16 | $ 1.43 | $ 0.66 | $ 22.99 | $ (21.56) |
| vacation | $ 74.88 | $ 6.24 | $ 2.88 | $ - | $ 6.24 |
| 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 | $ 2,920.84 | $ 243.40 | $ 112.34 | $ 287.68 | $ (44.28) |
| NET SPENDING | $ 41,254.78 | $ 3,437.90 | $ 1,586.72 | $ 4,434.12 | $ (996.22) |
| DIFFERENCE | $ 26.98 | $ 2.25 | $ 1.04 | $ (530.64) |
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