Pam,

The only way to successfully work through a plan is to make one that works for you.  Thanks for sharing your approach.

Brandy - I had to revisit this issue this week. We needed something that cost about $200  and when my husband bought it, I went bonkers feeling all pressured with our bills already.My husband asked to see how I pay the bills and add to the savings and he pointed out that I was creating a difficult situation in that I was pulling more for debt repay than we could comfortably handle - no wiggle room for birthday gifts or college students needing rent money or book money. He pointed out that was how we got into credit card debt in the first place and that we were nearly going back to that since I was looking at a gift for my son's sixteenth this weekend and didn't have the cash yet. So  I took a deep breath and revised our repayment plan to give us extra $$ if we need them. We can always add to the credit card bill if we get a windfall. I was also, at the same time, trying to really add to our savings just in case. (I did pull together the cash but won't have it all until a week after his b-d. he's okay with that)>

So, I guess I will have to learn to FEEL productive if we pay 200 less on our debt each month that we have extra costs (vet, glasses, broken appliance, car repair). So I am learning that while we can each have a system that makes us feel better about how we are working our finances, there is still a finite amount of cash coming in and it cannot be less than the amount going out, lol.

Still a student of life!

Pam

I understand that feeling!  I put together this month a rough budget with mortage,cable etc the usual and included an entertainment/gift line $200, a misc line $100, personal $100, kids $50  per month.  I tried to cover all bases.    Since we are remortaging (up for renewal) and merging debts, I don't know what our bills payments will be. 

its a work in progress.

Pam,

It's definitely important to have enough cash left to cover things. Were you budgeting anything for saving up for things that arise?

 Uggg!!!  We are already over budget for petrol this month, due to DH not being able to car pool as much!  We did come under on a few things but....I hate to pay so much for petrol!  I guess I better budget more next month...almost double.

 Our budget was so trashed with a $1140 car repair bill we went ahead and cashed an IRA.  Will solve some other problems, but is painful to not be ale to get ahead for so many months. 

I guess this is why we can only see a little ways in the future, so we don't get too panic-y.

Thinking June budget will be pretty bare bones. 

I posted alot in may debt check in but I can post here as well. Our budget is up in the air =literally- because of the house. We are paying off our regular bills and debt reduction.

This month we have paid:

335- car

365 - last big payment of rolled debt

150- cell phones

36- two months garbage

87- satelite

390- electric

Thats it so far this month- I think.

Anne

Wow, we spent more on food than planned due to a couple (or more) meals out. Other than that we've stayed within our budget. Brandy, you had asked a while back on this list if we put savings away for stuff - yes each month I put $200 into emergency fund, $200 into home repair fund, and $200 into general savings from which we draw to buy gifts, etc.these savings are non-negotiable. They keep us moving out of debt! But I was trying to put more in savings so we could afford the home repairs sooner...I'm always wanting things to be done NOW which is how we got into debt. I don't want things for me...but if the old windows need to eventually be replaced with storm windows, as soon as it pops into my head I think we ought to do it or the trim needs to be painted I want to find someone today to do it. So we are learning a whole new approach to life, and it's brought us peace. Even readjusting our budgeting has been so easy this month, no fighting, no accusations, just peace.

Good news of the month - once a year our bank reviews the mortgages (reviews isn't the right word but my mind went blank) and we got a letter saying that our monthly payment was going down...ta da....$200! this is due mainly to a projected increase in property taxes and insurance costs that never materialized, so they were taking more out than they needed to keep in escrow for those bills. $200 a month! I guess we should say yea for the insurance company too, and the tax people, lol. Last year the mortgage payment went down $80 or so. - Pam

May Budget:

$355 mortgage

$55 natural gas

$24 electric

$55 cable

$15 gym

$27 internet

$9 phone

$30 medical

$51 car ins.

$190 food (5 week month for me)

$100 gas (5 week month for me)

$50 pets

$30 toiletries

$10 cleaning

$4 Rx

$7 haircuts

$10 oil change

$18 spanish class

$52 water

$50 CC

$96 Medicare

$20 Rx plan

--------------

$1142

Income:

$1393 ($1233 disability, $100 work, $35 mother's contribution to cable bill, $25 mother's contribution to cc bill)

Things are looking up.  I accepted a new job, which I start on June 3rd.  I am looking forward to working on my financial goals. 

1.  Pay off credit card.

2.  $3300 in saving account.

3.  Pay off house ($38k remaining).

4.  Save for retirement, would like at least $100k).

First time tracking each receipt! expensive month, mothers day, 2 birthday parties, bought gifts for other party. entertainment was the extra money like dh admission to the zoo for dh fieldtrip.  groceries etc very high due to extra expenses, pharmacy stuff like motrin. plus stocking up with all those cheap cases of juice etc must have bought $75 worth. plus tp etc. not normally that high.  due to a 5 week month extra eating out.   was not a stretching month.  Didn't include mortage, gas, cable, credit card payments are regular payments that don't change too much so I didn't include them.  clothes higher because dh bought decent shoes for $55. don't normally buy lottery tickets. 

depression over loss etc was part of eating out etc.  dh bought 6 bags cement. only used 3 bags for the posts of the playhouse but I accidently though the receipt away so he couldn't return them.  planned to keep it as an expense. any household expenses can be written off the homestay money.