| TOTAL INCOME | $ 52,353.60 | $ 4,362.80 | $ 2,013.60 | $ 2,046.60 | $ 2,316.20 |
| Yearly total | Monthly | Average biweekly | Actual | Difference | |
| INCOME TAX | |||||
| taxes, work | $ 3,341.78 | $ 278.48 | $ 128.53 | $ 128.52 | $ 149.96 |
| NET INCOME | $ 49,011.82 | $ 4,084.32 | $ 1,885.07 | $ 1,918.08 | $ 2,166.24 |
| CHARITY 10-15% | |||||
| fast offering | $ 1,056.00 | $ 88.00 | $ 40.62 | $ - | $ 88.00 |
| tithing | $ 5,235.36 | $ 436.28 | $ 201.36 | $ 204.66 | $ 231.62 |
| SAVINGS 5-10% | |||||
| emergency fund | $ - | $ - | $ - | $ - | $ - |
| kids savings | $ 100.88 | $ 8.41 | $ 3.88 | $ 1.94 | $ 6.47 |
| retirement | $ 4,711.82 | $ 392.65 | $ 181.22 | $ 181.22 | $ 211.43 |
| HOUSING 25-35% | |||||
| dream home | $ 260.00 | $ 21.67 | $ 10.00 | $ 5.00 | $ 16.67 |
| homeowner's insurance (Jan) | $ 518.00 | $ 43.17 | $ 19.92 | $ - | $ 43.17 |
| Household improvement/ repair | $ 962.00 | $ 80.17 | $ 37.00 | $ 35.89 | $ 44.28 |
| appliance replace | $ 214.50 | $ 17.88 | $ 8.25 | $ - | $ 17.88 |
| real estate tax, county (Jun and Dec) | $ 1,060.00 | $ 88.33 | $ 40.77 | $ 454.78 | $ (366.45) |
| real estate tax, town (Dec) | $ 190.56 | $ 15.88 | $ 7.33 | $ 118.54 | $ (102.66) |
| UTILITIES 5-10% | |||||
| internet | $ 461.40 | $ 38.45 | $ 17.75 | $ - | $ 38.45 |
| phone- cell | $ 228.80 | $ 19.07 | $ 8.80 | $ - | $ 19.07 |
| phone- home | $ 189.12 | $ 15.76 | $ 7.27 | $ - | $ 15.76 |
| power | $ 1,787.24 | $ 148.94 | $ 68.74 | $ 94.40 | $ 54.54 |
| water& trash | $ 1,091.48 | $ 90.96 | $ 41.98 | $ 88.39 | $ 2.57 |
| FOOD 5-15% | |||||
| groceries | $ 4,576.00 | $ 381.33 | $ 176.00 | $ 72.79 | $ 308.54 |
| TRANSPORTATION 10-15% | |||||
| car insurance (Jan and Jul) | $ 410.30 | $ 34.19 | $ 15.78 | $ - | $ 34.19 |
| gasoline- buick | $ 740.70 | $ 61.72 | $ 28.49 | $ 10.00 | $ 51.72 |
| gasoline- van | $ 1,427.42 | $ 118.95 | $ 54.90 | $ 34.38 | $ 84.57 |
| registration, buick | $ 39.42 | $ 3.28 | $ 1.52 | $ - | $ 3.28 |
| registration, van | $ 44.42 | $ 3.70 | $ 1.71 | $ - | $ 3.70 |
| repair & maintain | $ 1,430.00 | $ 119.17 | $ 55.00 | $ - | $ 119.17 |
| replace | $ 910.00 | $ 75.83 | $ 35.00 | $ - | $ 75.83 |
| taxes, property- county (Dec) | $ 72.41 | $ 6.03 | $ 2.79 | $ 72.41 | $ (66.38) |
| taxes, property-town (Dec) | $ 77.45 | $ 6.45 | $ 2.98 | $ 77.45 | $ (71.00) |
| CLOTHING 2-7% | |||||
| me | $ 52.00 | $ 4.33 | $ 2.00 | $ - | $ 4.33 |
| kids | $ 156.00 | $ 13.00 | $ 6.00 | $ - | $ 13.00 |
| husband | $ 234.00 | $ 19.50 | $ 9.00 | $ 19.13 | $ 0.37 |
| 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 | $ 260.00 | $ 21.67 | $ 10.00 | $ 82.10 | $ (60.43) |
| gifts | $ 156.00 | $ 13.00 | $ 6.00 | $ - | $ 13.00 |
| personal, me | $ 52.00 | $ 4.33 | $ 2.00 | $ - | $ 4.33 |
| personal, kids | $ 858.00 | $ 71.50 | $ 33.00 | $ 37.20 | $ 34.30 |
| personal, husband | $ 52.00 | $ 4.33 | $ 2.00 | $ - | $ 4.33 |
| pets | $ 676.00 | $ 56.33 | $ 26.00 | $ - | $ 56.33 |
| work | $ - | $ - | $ - | $ (409.60) | $ 409.60 |
| RECREATION 5-10% | |||||
| entertainment | $ 234.00 | $ 19.50 | $ 9.00 | $ - | $ 19.50 |
| vacation | $ 546.00 | $ 45.50 | $ 21.00 | $ - | $ 45.50 |
| disney | $ 1,300.00 | $ 108.33 | $ 50.00 | $ 25.00 | $ 83.33 |
| 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 | $ 290.42 | $ 24.20 | $ 11.17 | $ - | $ 24.20 |
| NET SPENDING | $ 49,011.91 | $ 4,084.33 | $ 1,885.07 | $ 1,616.53 | $ 1,975.96 |
| DIFFERENCE: NET INCOME/SPENDING | $ (0.09) | $ (0.01) | $ (0.00) | $ 301.55 | $ 190.28 |
Thursday, December 8, 2016
Budget update
Thursday, December 1, 2016
November's challenge result and December's challenge
So, for November, our challenge was to go easy on personal spending. With a few birthday parties that my boys went to, and some clothing expenses that were a must, we didn't do as great as last time, but we didn't do too badly either. Even though it looks like we overspent in several categories, the only category we're still behind on is my husband's clothing category. Everything else we had money to spare in savings, and even some extra to throw towards our debt: $21.18.
This next month's challenge is one that I'm in need of- I've really been luxuriating in longer showers lately, so it's time to save money on water! Join me!
This next month's challenge is one that I'm in need of- I've really been luxuriating in longer showers lately, so it's time to save money on water! Join me!
A look ahead
We went through the benefits review this week with my husband's company. It is looking really sad. Health insurance went up again, and the coverage is so pathetic, that I've decided to bump up what we contribute to our HSA to the maximum, because we are not able to keep up with our bills with what we're currently putting in there. That leaves us with a miserably small budget again for discretionary spending. Just when I was getting used to living "the high life".
It really angers me that healthcare was supposed to get more affordable, and our projected costs for next year based on our averages for premiums and all other out of pocket expenses will be around $11,600. That is close to 24% of our net income. It is ridiculous. We are not unhealthy people, either! Just a typical family with growing children. Even if our future president tries to revamp the healthcare system, you know premiums are not going to go down, there is only a chance that they won't keep skyrocketing, so we're stuck with this huge expense for the foreseeable future.
It really angers me that healthcare was supposed to get more affordable, and our projected costs for next year based on our averages for premiums and all other out of pocket expenses will be around $11,600. That is close to 24% of our net income. It is ridiculous. We are not unhealthy people, either! Just a typical family with growing children. Even if our future president tries to revamp the healthcare system, you know premiums are not going to go down, there is only a chance that they won't keep skyrocketing, so we're stuck with this huge expense for the foreseeable future.
Where we went over budget
Oh, the holidays, where to begin? We went over on our grocery budget. Normally, I withhold $1 every two weeks in savings to pull from during the holidays, but we totally blew that amount. I had $14, I spent $55ish. Having blown the budget already, I resorted to my bad habit of completely disregarding the budget last week, since I only had $30 to spend for the whole week, and just spent whatever I felt like. Which left us about $100 over budget for the whole month, and we didn't even host Thanksgiving, so we have no excuse. I am going to start laying aside more than a dollar a paycheck, though, so that next year I won't be in the same pickle.
We were a bit extravagant and got a camera that we really should have saved up for instead of buying it now, but our old camera has been limping along for a while now, and we lost the battery charger, so rather than buying a new battery charger for a dying camera, we decided to get a new camera. I'm regretting it a bit now. We spent about $155 more than we had in savings for household improvement (which is what I put electronics under in our budget), so now we're in trouble.
All of the other categories that it looks like we went over on, we didn't- we had the money in the accounts for those.
Wish us luck on Christmas and keeping things in line. Good luck to you too!
We were a bit extravagant and got a camera that we really should have saved up for instead of buying it now, but our old camera has been limping along for a while now, and we lost the battery charger, so rather than buying a new battery charger for a dying camera, we decided to get a new camera. I'm regretting it a bit now. We spent about $155 more than we had in savings for household improvement (which is what I put electronics under in our budget), so now we're in trouble.
All of the other categories that it looks like we went over on, we didn't- we had the money in the accounts for those.
Wish us luck on Christmas and keeping things in line. Good luck to you too!
Budget update
| TOTAL INCOME | $ 52,353.60 | $ 4,362.80 | $ 2,013.60 | $ 4,602.45 | $ (239.65) |
| Yearly total | Monthly | Average biweekly | Actual | Difference | |
| INCOME TAX | |||||
| taxes, work | $ 3,341.78 | $ 278.48 | $ 128.53 | $ 293.15 | $ (14.67) |
| NET INCOME | $ 49,011.82 | $ 4,084.32 | $ 1,885.07 | $ 4,309.30 | $ (224.98) |
| CHARITY 10-15% | |||||
| fast offering | $ 1,056.00 | $ 88.00 | $ 40.62 | $ 88.00 | $ - |
| tithing | $ 5,235.36 | $ 436.28 | $ 201.36 | $ 460.25 | $ (23.97) |
| SAVINGS 5-10% | |||||
| emergency fund | $ - | $ - | $ - | $ - | $ - |
| kids savings | $ 100.88 | $ 8.41 | $ 3.88 | $ 9.70 | $ (1.29) |
| retirement | $ 4,711.82 | $ 392.65 | $ 181.22 | $ 404.92 | $ (12.27) |
| 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 | $ 962.00 | $ 80.17 | $ 37.00 | $ 670.65 | $ (590.48) |
| 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 | $ 228.80 | $ 19.07 | $ 8.80 | $ 19.10 | $ (0.03) |
| phone- home | $ 189.12 | $ 15.76 | $ 7.27 | $ 15.76 | $ - |
| power | $ 1,787.24 | $ 148.94 | $ 68.74 | $ 89.57 | $ 59.37 |
| water& trash | $ 1,091.48 | $ 90.96 | $ 41.98 | $ 78.43 | $ 12.53 |
| FOOD 5-15% | |||||
| groceries | $ 4,576.00 | $ 381.33 | $ 176.00 | $ 481.90 | $ (100.57) |
| TRANSPORTATION 10-15% | |||||
| car insurance (Jan and Jul) | $ 410.30 | $ 34.19 | $ 15.78 | $ - | $ 34.19 |
| gasoline- buick | $ 763.03 | $ 63.59 | $ 29.35 | $ 65.09 | $ (1.50) |
| gasoline- van | $ 1,470.45 | $ 122.54 | $ 56.56 | $ 70.13 | $ 52.41 |
| registration, buick | $ 39.42 | $ 3.28 | $ 1.52 | $ - | $ 3.28 |
| registration, van | $ 44.42 | $ 3.70 | $ 1.71 | $ - | $ 3.70 |
| repair & maintain | $ 1,430.00 | $ 119.17 | $ 55.00 | $ - | $ 119.17 |
| replace | $ 910.00 | $ 75.83 | $ 35.00 | $ - | $ 75.83 |
| taxes, property- county (Dec) | $ 72.41 | $ 6.03 | $ 2.79 | $ - | $ 6.03 |
| taxes, property-town (Dec) | $ 77.45 | $ 6.45 | $ 2.98 | $ - | $ 6.45 |
| CLOTHING 2-7% | |||||
| me | $ 52.00 | $ 4.33 | $ 2.00 | $ 8.93 | $ (4.60) |
| kids | $ 156.00 | $ 13.00 | $ 6.00 | $ 18.92 | $ (5.92) |
| husband | $ 234.00 | $ 19.50 | $ 9.00 | $ - | $ 19.50 |
| MEDICAL 5-10% | |||||
| health care | $ 4,160.00 | $ 346.67 | $ 160.00 | $ 6.86 | $ 339.81 |
| health insurance | $ 9,129.64 | $ 760.80 | $351.14 | $ 175.57 | $ 585.23 |
| PERSONAL 5-10% | |||||
| Christmas | $ 260.00 | $ 21.67 | $ 10.00 | $ 50.40 | $ (28.73) |
| gifts | $ 156.00 | $ 13.00 | $ 6.00 | $ 26.12 | $ (13.12) |
| personal, me | $ 52.00 | $ 4.33 | $ 2.00 | $ 28.69 | $ (24.36) |
| personal, kids | $ 858.00 | $ 71.50 | $ 33.00 | $ 2.40 | $ 69.10 |
| personal, husband | $ 52.00 | $ 4.33 | $ 2.00 | $ - | $ 4.33 |
| pets | $ 676.00 | $ 56.33 | $ 26.00 | $ 45.82 | $ 10.51 |
| work | $ - | $ - | $ - | $ (622.66) | $ 622.66 |
| RECREATION 5-10% | |||||
| entertainment | $ 234.00 | $ 19.50 | $ 9.00 | $ 20.27 | $ (0.77) |
| vacation | $ 546.00 | $ 45.50 | $ 21.00 | $ - | $ 45.50 |
| 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 | $ 224.90 | $ 18.74 | $ 8.65 | $ 327.00 | $ (308.26) |
| NET SPENDING | $ 53,576.58 | $ 4,464.72 | $ 2,060.64 | $ 3,132.00 | $ 840.88 |
| DIFFERENCE: NET INCOME/SPENDING | $ (4,564.76) | $ (380.40) | $ (175.57) | $ 1,177.30 | $(1,065.86) |
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