Tuesday, February 10, 2009
Two Week Budget
This weeks budget numbers look quite boring. We really did not have much left over after bills. We have chosen to throw the money left over into our Emergency fund as opposed to slamming it on our debt. Our tax return should be here no later than February 17th. We know we will have our credit card gone with this money, a personal loan gone, tires paid for car(needed for our car to pass inspection)and a few minor medical bills. Anything left over at this point will go to our emergency fund. We feel it should be it least 2000. Once we reach that milestone we will start attacking our car debt. It is around 7000. So even though this looks lame for a debt repayment blog, it will pick up soon!
300-my money--for food and anything she wants
200-my husband's money...for food, anything he wants--he eats out at work too
50--gas for cars
50-cushion money and/or medical expenses such as occasional copays or that thing that recently broke in our home, or the remote that was lost or the need for magic erasor to take off the permanent marker that was drawn all over my furniture (With four boys anything is possible and this cushion money takes care of those things!)
Total 650--this is our line _______________ we deduct 650 right off the bat and then pay bills and anything left over goes to either debt or bills.
Donation to our church-50
Sallie Mae- 75
1165-650-457 = 58
Keep in mind that we have a great deal taken out of our paycheck before we see it. Our mortgage, car insurance, car payment, and van payment are automatically removed. So I don't bother showing those on my budget sheets, but we are paying our normal due payments to those items.
Also the 650 is our so called line. We don't always spend it and when we have it left over we throw it in our change jar in our closet. When we have a good bit we will snowflake it to our CC in the past, but when that is gone it will go to our car payment. We purchased awards for our local scout troop and they have yet to reimburse us. We are owed around 75. My husband should get a check for this amount tonight at a committee meeting. That money will go to our EF fund as well.
Creating a set line has really simplified budgeting for us. We take 650 out every time--whatever is left over is used to divvy up among bills/debts. We use to have this at 500 and found it always too little. This took about 3-4 months of budgeting to come up with. But now that it is there it is quite comfortable and makes doing bills SO MUCH EASIER. We know what we need to live comfortably and that let us feel in control.
Do you have a set amount??? I would love to hear family sizes and set amounts of others???? I use to feel ours was too big and perhaps you will think so, but we have peace with this amount and comfort in our lives. Finding that balance is sometimes a challenge, but gratifying when achieved!