Tuesday, January 3, 2012

My budget, ugh.

I must say, I hate budgets. But, I have realized I must learn to live with one. Here is my basic monthly budget:

Phone/Internet: $72.00
Satellite TV: $95.00
Water: $60.00
Auto insurance: $66.88
Cellular phones: $80.00
Electricity: $170.00 (budget plan)
Groceries: $450
Gas: $360
School lunches: $50
Base debt payments: $215
Misc. $40
Kids' allowances: $25


Income for January:
Child support $350
Base pay (1/20/12) $650
Base plus commission (1/6/12) $1500

Total: $2500

I should have $822.12 left over. This may vary as my pay check for the 6th is still an estimate. I am also watching my account closely to make sure I haven't missed any other automatic payments and am tracking every penny spent this month. I am hoping to pay an additional $750 towards debt repayment. Tomorrow I will make a list of all my debt and the balances. This is obviously a work in progress and I have tweaked a few expenses after I double checked the last few bank statements.

I have not included any totals for auto payment or mortgage. At this point, i am not including them because those are the two things that my husband pays out of his account. Using his paychecks, he pays mortgage, auto payments, auto maintenance, his gas expenses and his spending money. My goal this year is to pay off all old debt and credit cards (2), as well as establish an emergency fund.

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