We have an ongoing discussion for tracking debt pay off and keeping food expense down. There has been enough interest in a motivation for bare bones budgeting that I am initiating a monthly tracking discussion where we can set our budget and goals for expenses each month, track what we spend and see if we can slash slash slash those costs!

The budget goals are scattered through various discussions so share here your intended budget for November and get to tracking.

 

Brandy- I am facing two large unknowns- my daughter's tuition in Euro's and my son's medical bills- got the first rejection and a $4000 bill from the hospital, playing the game of what will you pay? with the medical insurance. I estimate the bills so far at $14,000, we have a $500 deductible per person, then 80/20, should cost $3,200. 

Dd said that her financial aid- two loans, a state grant, and a Pell grant- that she gets at school will transfer to her study abroad, it is the same cost, and she bought a one way ticket.  I still don't know what I will have to pay.  She is prepared to live at home and scale back on school next year to pay for this semester, if that's what it takes.  Still, money out of pocket soon- Last year we paid about $1600 for her school, this year have paid nothing so far.  I want to send enough money she is not worrying a lot about food and seeing things, she is a frugal girl.

Other than that up to date and ahead on credit cards, have paid mortgage but not home equity.   

Cut my food budget to $300-$350 for the family, almost out of money and using stock from the pantry- 7 cans today for chili and pears- we have lots of spaghetti, potatoes, rice, beans, need to be content with simple food-

Tracy 

Tracy,

It's a good thing your daughter is frugal as that helps. I hope things work out with the school and medical costs.

 

 

Income 765 - Rent 187- car registration 100 - cell 46 - landline 10 - gas 30 - motor oil 2 - utilities 0 - food 150 supplies 20 = 220 saved.

 Mabe room to lower the food buget if i prepare my own more often. Gas buget might go up to visit family for Thanksgiving 

 

 Freewilly...Are you a student in utah county by chance?   That budget looks very reminisent of my college days.

Here is my budget for this month:

$2,533- Work Expenses

$1,123- Personal Expenses, I am breaking this down into categories

• $14- Financial fees and insurance- We don't have life or health insurance at this time but I want to keep that possibility open for when finances stabilise. The expense is for financial and bank related fees.
• $120- Auto
  
• $450- Food and supplies
• $245- gas and electric
• $65- water
• $110- phone, long distance and DSL
  
• $20- garbage
• $10- Debt, this is the minimum I have to pay
• $89- Entertainment, memberships, TV, subscriptions..some of these are educational expenses and some are professional and deductible but I plopped em in there as subscriptions and TV

We need to make $3,656 this month after taxes to meet our budgeted expenses.  I am hoping that we end up spending less on fuel than I estimated for and I also hope to spend less on groceries while not sacrificing our attempt to eat more local or organic products and less carbs.

 

AmyC:

 Freewilly...Are you a student in utah county by chance?   That budget looks very reminisent of my college days.

i went to college for a about a yr. I'm actually thinking about taking some online classes. Thats been pretty much the type of budget i've lived with since i aged out of foster care. I havnt never been able to hold down a steady job due to disability.   

 

Brandy:

$2,533- Work Expenses

Is that for self employment? I had a friend that worked for the state tax commission and he would use his and his families vehicles to travel to various jobs. He would deduct all expenses incurred from the vehicles on his taxes. he would deduct all maintenance, fuel, etc. he would drive old vehicles that were payed for and not have to worry about fuel or maintaining them. It really saved him a bundle       

 My husband is a sub-contractor in a service industry. He only does work for one company but he has to pay for his truck, his fuel, his mobile office, his tools, workman's comp and the company requires a charge account that he has to pay into every week. Fuel alone is an estimated $1,200 a month expense.

Yes, this is all tax deductible but that does not mean we get it all back so it really bites into the income.

 

 

For the utilities you might be able to hit up the Red Cross, but it might be hard to show work vs personal expences vs tax liability with them. They made me itemize everything. I went in with shut off notices in hand and put down expences for car repairs and they qualified me. not sure if they help out on propane though. but i know they help with water, natural gas, and electric.