Are you having to make financial changes to meet your budgeted needs? Set your May budget and track your progress with the other stretchers.

Work Expenses

•      $350- Fuel
•      $313.32-Truck note
•      $200-   Insurance

Household Expenses

•     $14- Financial fees
•     $1,500- rent
•     $500- Food and supplies
•     $145- Electric
•     $65- water
•     $110- phone, long distance, cable and DSL
•     $25- Debt, this is the minimum I have to pay
•     $89- Entertainment and subscriptions

Expenses- $3311.32

ugh - I was so off on our april budget that I hate to work on this but here goes:

Mortgage: 1485 - this is $200 extra each month toward principal

Car        :   341 - only a few more payments

Cred card:  500 - will bring total down to 4000

Food: 400

Gas: 400

Med/cash/misc.: 400

Utilities: 760

home repair svgs. fund: 200

Emergency/gen svgs.   400

Total outgo: 4886

Income: 4710 (will have to take some extra hours or sell something)

pam

• mortgage:        928.00
• gas                   45.00
• Electric            100.00
  
• Car loan           161.00
• Auto Ins.           254.00
• Accident           150.00
• Petrol               125.00
• Student loans    100.00
• Debt                  240.00
• Groceries           200.00
• Entertainment     200.00
• Auto License      150.00
• I/n, phone, cable   96.00
  
• Wiggle room         51.00
  

Dh income: 2700.00

My income:  800.00

Outgoing:    2800.00

Excess:   700.00    Hopefully with this we can get the bearings repacked on DH's car, oil changes in his car and a new windshield for him.  Anything left over will go for a haicut for the dog, and debt

 

ETA:  More realistic numbers after viewing our past months on quicken! 

 Pamelaw,

MayI ask why you choose to pay extra on the mortgage instead of paying more on the car or credit cards?

 Our May budget is up in the air. We found out yesterday that we have major damage in one part of the roof from the winter snow. It is a room that was added on to our house. We didnt use the room for the winter because of no heat in it. It has electric heat so we shut it of for the winter. The estimate for roof work is around $3,000. We will also rip out the old carpet. It has water damage and had started to mold. We have the materials to replace that so no money just work.  Several places the sheetrock will have to be repaired and some of the ceiling. So a major project. DH spent yesterday taking the ruined stuff apart. WE will need to sit down and look at finances to decide how to do this. Babs

Our May budget is also up in the air.  At the end of last summer our A/C unit wasn't working properly. So, we have to have the heating and air guy come take a look at it and tell us the verdict.  We are hoping that it only needs coolant as the unit is only 10 years old.  So, until then I really don't know what the whole month will look like.  We are planning on using our tax stimulus check to cover this.  Hopefully it won't be more than the check.  I will still do a baisc budget but will have to leave a few things open until cost for this repair is determined.  I also think I'm going to have to add more funds to our grocery and gas amounts due to the rising cost of these two things.  And DH was informed at work that they will not be getting any more overtime for the next couple months this will also effect the numbers for May. 

Shellia

• Mortgage (P&I, taxes, insurance)    1000
• tuition and lessons                             1300
• utilities                                                    230
• landline phone                                        32
• cell phones (2)                                       65
• cable/internet                                        115
• garbage                                                   18
• groceries/supplies                                450
• gasoline                                                 300
• entertainment                                           50
• personal (haircuts, clothing)                100
• debt repayment                                     500 (or more)
• life insurance premiums                       150
• auto insurance premium                        100

TOTAL EXPENSES                            $4410

We bring in more income than $4410 so any extra goes (1) more on debt and (2) savings for annual/biannual expenses like my bar dues, car registration, dog license, etc. I try and put $100 a month into that.

The only change this month is we hope to pay more on debt than the $500 budgeted. I did increase gasonline, I believe, due to rising costs but I think we can still pay more on debt. We paid $800 last month and are down to under $2000 in credit card debt! Yea! 

Income-

Dh's parttime job and unemployment- $511/ week x 4+$2044plus my job- $300 month plus about $40 for a few extra shifts= $2,384

Expenses-

I paid the mortgage- $1346 with the tax refund last month.  

Church-$100

Second mortgage  $480

heat $167, this is a budget amount, stays the same year round.

elect $90, down slightly.

water/sewer $50

2 cells $20

phone $60, long distance higher, my dh's great aunt died

gas $350, much lower as school is over for dh

dh misc $50

groc, diapers, pet food $300

car insurance $123

internet $61, needed for job search

med payments $200, $132 to the eye doctor

4 credit cards $500

total- $2,551 

 $167 over budget-

Will not go to fundraising dinner at two daughters schol, will attend the concert.   I am planning on getting the rebate soon, for our family it is $3,000.  Will pay June mortgage, stash the rest for our budget shortfall and gas for a vacation to Chicago in June.  We will stay at my sil's and go to free events, dh will have his birthday with his family and we will try to get food figured out.  

I barely made the $300 for food last month, I went to four free food sites and spent several hours to get food.  I am planning on doing this again in May, using our pantry and making very cheap food for the 8 of us at home.  

 Will continue to look for ways to increase income and cut expenses.

Brandy:

 Pamelaw,

MayI ask why you choose to pay extra on the mortgage instead of paying more on the car or credit cards?

 

That is a very fair question - since my relationship with money is emotional, I pay these debts off in a way that makes me FEEL better. That's all it is. My husband thinks I am mad for paying off the car payment (it's 3 percent interest) quickly instead of putting the extra $$ to the credit card (at 12 percent) but I just feel better, and therefore able to pay more $ in total toward debt if I knock down a little (and then some) everywhere. Not a great reason, I know, but I really needed to feel I was making progress in all directions - also for the same reason I am building up the emergency savings account at the same time. In order to do this, I keep adding to my workload and since it's working, I just keep doing it. it's not what many recommend but my response to money issues is always emotional so I try to work with in my own limitations, lol.  hugs. pam