Budgets

Re: May Budget

MarthaMFI — Wed, 04 Jun 2008 02:55:02 GMT

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.

Gas/ dh one car wash	$337.48


Food/household/pets	$723.24
$902.18	$178.94
Eating out	$141.23
Books/Mags 2 primas in one mth	$28.50
preschool/moms group donation	$105.00

bead show with parking with john	$130.00
with survey money	$0.00
lee valley tools tsquare	$20.00
entertainment fieldtrips/kids parties	$70.60

lottery ticket	$3.00
gifts mothers days/dinner etc	$134.89



value village/ thift stores	$26.34

clothes/shoes	$99.42

playhouse stuff like cement	$76.47
xcargo -gifts/gardenclaw/towels	$68.21
dollar store	$17.68
kids haircuts magiccuts w/tip	$24.40
prescriptions	$19.91
pedicure	$19.75





kids swap meet made $48
spent 29
$4 clothes
$8 gifts
$5 vintage fp
$10 rent

17.84 consignment credit
game skidoo dvd for mil.

Re: May Budget

misscas — Wed, 21 May 2008 03:44:59 GMT

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).

Re: May Budget

Pamelaw — Tue, 20 May 2008 22:17:23 GMT

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

Re: May Budget

lnfirepuke — Mon, 19 May 2008 11:03:05 GMT

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

Re: May Budget

latenightleader — Sat, 17 May 2008 04:54:11 GMT

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.

Re: May Budget

AmyC — Wed, 14 May 2008 18:08:36 GMT

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.

Re: May Budget

Brandy — Sat, 10 May 2008 02:38:44 GMT

Pam,

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

Re: May Budget

MarthaMFI — Sat, 10 May 2008 02:02:20 GMT

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.

Re: May Budget

Pamelaw — Fri, 09 May 2008 23:01:56 GMT

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

Re: May Budget

Brandy — Tue, 06 May 2008 16:13:17 GMT

Pam,

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

Re: May Budget

Pamelaw — Tue, 06 May 2008 16:02:34 GMT

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

Re: May Budget

latenightleader — Thu, 01 May 2008 05:18:41 GMT

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.

Re: May Budget

mamasjob — Thu, 24 Apr 2008 13:43:23 GMT

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!

Re: May Budget

shelliajean2 — Thu, 24 Apr 2008 12:30:17 GMT

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

Re: May Budget

babs — Thu, 24 Apr 2008 11:47:15 GMT

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