I hope you all did well in May but if not, may it be better in June.

Share your budget and track your expenses!

I was really shocked at the electricity bill and really pleased as well!

Work Expenses

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

Household Expenses

•     $14- Financial fees
•     $1,500- rent
•     $600- Food and supplies
•     $104- Electric
•     $65- water
•     $114- phone, long distance, cable and DSL
•     $25- Debt, this is the minimum I have to pay
•     $89- Entertainment and subscriptions

Our base expenses for June are $3374.32

• $928- Mortgage
• $100- Cable/Internet/Phone
• $75- Electricity
• $45- Gas

• $160- Auto payment
• $160- Accident
  
• $110- Student loans
• $210- Debt
• $254- Auto Insurance
• $150- Petrol
• $100- Entertainment
• $350- Groceries and supplies
• $50- Clothing
• $100- Wiggle room

Outgoing: $2732

Incoming:$2860

Difference: $68

We paid off one debt this past week...so hopefully we can pay off another in June!!! 

AmyC:

We paid off one debt this past week...so hopefully we can pay off another in June!!! 

We survived May intact, so here's my plan for June

Mortgage:   1200

Car:             400

Variables:  1700  (gasoline, food, toiletries, misc., dr., prescription- up from last month due to increase in gas and food)

Utilities:       760

Credit Card  500

Savings:      600  (200 to emergency fund, 200 to house repair fund, 200 to general savings)

Total:         5160

 Income:  ~ 5750 thanks to extra work i'm doing.

I've taken on more work to pay increases in gas but this is work from home AND I have been able to cut my gas usage considerably so the increase may not be as much as I fear. In that case, we will put 200 more on debt, and the rest aside for future increases in gas, etc.

Since I started tracking 4 years ago, my budget is now fairly predictable.
I use reports from Quicken to build a 'flexible' worksheet in Excel to show average amounts and percentage allocations .
It's fairly lengthy - Initially, failing to account 'Annual Expenses' across the year showed up as budget busters when the annual bill came due.
In 2005, the Creditor Minimums were eating up 18%-20% of our income, and we s-t-r-e-t-c-h-e-d to find another 5% - 10% to make the debt snowball.
Since eliminating that debt in March of this year, we have moved this percentage of our income from 'Must Haves' to 'Savings'.
The amounts allocated under "Wants" as "Discretionary" are set up as weekly recurring transfers into our 'private' checking accounts.
This really helps us with fairness of allowance & cuts down on 'petty' debits from the joint account, since all I really need to know is that it transferred and is considered spent.  I think it cut down my reconciliation time by at least half. This is one of the first places to adjust when there is bad luck or unexpected expenses.  We've been blessed with steady jobs and are content in our smaller less extravagent home relative to many of our peers. 
We have no children, but we do have two spoiled, indoor black labs, a fat indoor cat and 6 feral porch kitties that we tend to.

 OH MY GOSH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I received a call from our bank about our house. Completely out of the blue. For those who dont remember our note became due as of April 1st for a balloon payment that we were shocked about. We couldnt find anyone to refi us and were starting to look for rentals.

Anywho, the lady calls and says, "I'm sorry it took me so long to call you but I finally have all the paperwork that I need. We are going to extend your note -at the same interest rate- for another ten year balloon payment. Is that okay?" I'm like what?!!!! does that mean we can keep the house? She says" Oh yea we have too many we dont want anymore- your payments will be lower than before is that ok with you? I'll send you the paperwork to sign and send back ok?"

Is that okay? Heck ya thats ok. I realize that it is a balloon payment again however, we are still working with Catholic Charities- HUD counseling and credit stuff. We plan on refi the house in a couple years or just make our regular house payment to pay it off early.

Anne

Anne,

That's fantastic!! I am so very happy for you.

Thank you so much. We are happy about this as well. We have decided that we will pay $555.- $600 for our mortgage instead of the $493.07 that they reduced the payment to.

The lady at CC said that we have to tell them that the extra amount needs to be applied to the principle. She said that people assume that it is when they pay it but if they dont state it that it may not be applied that way.

I still plan on going for budgeting classes and what not- it is free- because I figure I can always use the help- and will learn more new things(new to me). I will share tricksor what not with the forum as I go.

Anne

 that's great Anne!!