OK I will give this a try because I really need to save as much money as I can so as not to incur debt for these upcoming expenses over the next two years.

Budgeted: (These are monthly averages) 

Net income is $2973.00 per month that I have to work with

Expeses as follows:

Mortgage              $1215

LTC Insurance          250

Heating                     75

Electricity                  80

Phone, Internet, TV   134

Car Insurance             46

Gasoline                    45

City/County                55

Water                        64

T-Mobile (family)         68

Newspaper                 20

Misc. Co-Pays           50

Car Pool Costs          40

Bus tickets                10

Grocery (for 2)           220

Donation                   100

Pet Expenses             50

Total Expenses      $2423

Amount left is $550 a month.  this will start going into my six month emergency fund every month until that is funded.  Actually I am halfway there now so once that is fully funded the money for the bathroom work will be next.

I should also mention I have "out of sight-out of mind" money automatically deducted from my paycheck that goes into a separate savings account.  That will become my sinking fund account for my car replacement. 

I did not budget for clothes because what I have now will last two years.  I know how to mend and sew so if I should be fortunate enough to lose some weight I can take things in.  Also we have a Good Will Outlet center I can shop at.

Also, DD sends me a car payment every month.  I originally financed her car and then paid it off so I told her she could pay me only the principal each month.  that money will be for misc. expenses as they come up such as car tags and misc. small jobs to be done around the house.

My next post will be my actual January expenses so far....

I had to edit my previous message because I forgot to include pet food & supplies.

Here are my actual expenses so far.....

Mortgage                $1315  (was able to squeeze out an additional $200 extra toward paying down the principal)

LTC Insurance            250

Heating                        95

Electricity                    60

Phone, int, TV            135

Car Ins.                       46

Gasoline                     40

City/County               115 (paid both this month)

Water                         64

T-Mobile                     68

Newspaper                  0 (will pay $40 next month when the bill comes)

Misc. Co-pays            10

Car Pool                      0  (starts next month if I become an active participant-I prefer to travel by bus)

Bus                           19

Grocery                    110 (so far-I hope not to go over $150 due to a full pantry but will need to get fruit, coffee creamer, milk and toilet paper & sales)

Donation                   100

Pet food & supplies     0  (found a good sale and did a six month stock-up-should be good to go until April or May)

Total                       $2428

 So I am over $55.  But remember I paid an extra $200 on the house so I am actually under $145 which would be almost what the rest of my grocery expense would be if my pantry was low.

I am trying to keep our daily food expense @ $6.00 to $7.50 per day for DS and myself.  That would be about $185 a month @ $6.00 a day and $230 a month @ 7.50 a day. Do you think I can do this if we eat a lot of rice and beans as a staple??

 Actual Expenses so far:

$69- Electricity, whooo hooo!! I budgeted $140 so I am saving!

 budget-

church  $100

mortgage and home equity loan- $1359 + $500=  $1859

heat $193- monthly average, budget bill

electric $107, higher due to furnace running

garbage $22

water and sewer $45

phone $45

gas $200

dh's money, his gas, etc.  $250

credit card payments $700

money paid to last college for dd to close out $122

groceries $350

car insurance and my life insurance $145 

internet, needed for work $61 this includes $15 for basic cable 

medical averages $250 with several prescriptions, could be higher this month, asked our doctor to see everyone who needed to be seen before health insurance runs out.

will need to pay some towards dd's school.  She is going down to her college tomorrow to meet with financial aid.  

Total- $4449 plus college  $. 

Will take $ from  the grocery budget to take 4 girls out to lunch at McDonald for her 6th birthday, on Thursday. Homemade cake, presents that I held back from Christmas, thank goodness.

Income $4612 this month, one more month of $4612 in Feb, then down to $538 in unemployment a week, times 4, plus my job at $300 a month and dh's FedEx job at $600 a month, will be $3052.  Luckily our tax refund will come in time to keep the payments going for a little, but not long.

Any suggestions?

We need internet for work, we need the high speed for dh to send work samples.  He is a copywriter.

This budget is for 9 people. I have been trying to pay down debt, but of course, we still have those credit card payments.

Dear Tracy, I had read in the NYTimes that some tax refunds might be late this year, due to the fact that Congress changed the Alternative Minimal Tax code late in the session -- the right forms for some people are in the works now.  Maybe I'm all wet about this -- I pray so, or that it's irrelevant to your situation, so that you can get the refund at the normal time, when you are counting on getting it.

As to your credit cards, many people ahve referred on this Forum to non-profit credit card consolidation agencies -- I have the wrong name for them.  I think that they take a certain sum from you mongthly & allocate it to all of your creditors in proportion to agreements tgaht they have together reached.  I THINK that they can handle mortgage  & partgicularly home equity loans, as well as credit cards.  It's worth a try.

Yours in Him, Deb

Tracy, looks to me that you have a good idea of your budget needs.  Maybe the only thing is pay as little as possible on the credit cards?  Not much to cut back on.  You said that your daughter is looking at financial aid because you guys definitely can't pay for college at the moment.  stock up on prescription meds before health insurance runs out maybe?  You guys are job hunting so I don't really see much more except babysitting more for extra quick income.   Your heat/electric is high for me but I am in a different climate so I don't know what the average is there.  

Do you qualify for food stamps?  That is one thing we don't have in Canada. You don't get extra money for groceries etc if you are lower income.

Good luck! 

She is pretty committed to this study abroad semester, and will be going down to pick up her revised financial aid- I'll be sending the unemployment letter so they know our circumstances have changed as well.She is asking for lots of loans, I don't think it's such a good idea, but it is once in a lifetime.  Heat is higher- two additions on the house and kids sleeping in the 1/2 story part with no vents- it is cold up there, there are five girls sleeping up there.  I really can't turn it down more. Electric high due to furnace running, 9 people, a close to around the clock house, I go to bed at 12, dh gets up 4 mornings at 2:30.   

Things we aren't buying- gifts, clothes, household, car or home repair, entertainment, dining out, fast food, lattes, vacations, 401K, recreations, subscriptions, haircuts, or any other easily cut catagory.   It's hard to babysit, we have no space.  Our baby sleeps in our bed, there is no crib or space for naps.  I did run a home daycare for 4 years, when I had 4 and 5 kids, it has become impossible to do legally because I can only take about one child, and that ties me down all day for low income and high family stress, there is no way we can go anywhere because my car is full already. Family stress goes up because the kids can't play sports or do activities.  It's easier to pick up shifts at work. I should be able to pick up some.

I sent in an app for combined health care and food aid, I think we don't qualify until March.  I'm worried about no health insurance and not enough money, especially with delayed tax returns, in March. Deb, I hope you are wrong!  Pat, have you heard anything about this?  Dh has high blood pressure and ADD, I have hypothyroidism, dd has asthma, ds has allergies, dd is healthy, dd has learning disabilities with vision therapy, dd is healthy, dd is healthy, and the last dd is very small, 15 lbs, 10 oz at one year old, she is verging on failure to thrive. 

Any other thoughts? 

 I meant with babysitting, just part time stuff, if someone wants to go out for the night etc.  I agree it is not worth it for full time.   Is your baby healthy? developing ok? or just petite? She looks great to me, very cute.

 I know she sounds small but I have friends with small babies who are just petite little girls.  Babies range so much.  My friend had lots of late ultrasounds because though she gained 50lbs (cheeseburger/nectarine baby she said :) ), (we had the same doctor) was worried the baby wasn't big enough. He was just barely 6lbs but was like 20lbs at 6-8mths.  My dd was a surprise 21 3/4" 9lb 13.7oz baby and she was barely 20lbs at one year.  has been average since, just a bit taller then some other kids. She has a kid (our neighbour) in her kindergarten that is head taller then all the other kids.

I don't mean to poke my nose in, she just looks like a happy healthy little soul.

latenightleader:

I'm worried about no health insurance and not enough money, especially with delayed tax returns, in March. Deb, I hope you are wrong!  Pat, have you heard anything about this?

The only thing I've heard about it pertains to the alternate minimum tax. As far as I can tell, if that doesn't include you (and it doesn't include most people), everything should be on schedule.

I found a site that tackles explaining the AMT delay. It seems to mirror the bits I have read here and there.

Understanding the alternative minimum tax delay