Tuesday, February 24, 2009

Two Week Budget

The current two week budget
Income--$1305 (DH had some overtime)

Wife's money-$300
DH money-$200
Kids allowance--$50
Gas/auto- $100.00
_________________________total standard monthly expenses $650

Auto insurance- $85
Parking- $35
Coop-45----this is a program my kids are in for homeschooling--we pay this 4 times a year--this is the last one till next fall.

License's for cars--62--due once a year

We should have about $319 left over.

This money will go into our savings.

We are not doing as well as I hoped but that is because we failed to calculate our property taxes even though I mentioned them being paid off, my dh did not have them written up in our quicken. So I took a quick glance and thought they were covered. So that brought our EF down. We are not at $1000, more around 700. But this time next month I should not have coop bills or license fees. It won't take long for us to build up our EF fund. As soon as we get it to 2000 we will start tackling debt again. I really hope that by the time we have our yard sale in mid May we will have $2000 in savings. Even though most programs recommend just $1000 in an emergency fund we simply do not feel that it is enough. I feel $2000 will cover most things that could go wrong for us...such as our washing machine breaking or minor household disaster. Our cars are under warranty and are not old so we don't have to worry about auto stuff. We still have state tax money coming in and we also hope that DH gets some bonus money --that is usually about 1500. We have one more major expense coming up and that will be buying our children's curriculum for next year. I believe we need $1000 to cover the curriculum I have chosen for 3 of my children.

You might notice my pie is not at 20%! Even though I don't post my debt payments we are making them. We have our car payments taken out so I never calculate them in these posts. Look at my past budget posts to see a more detailed explanation.

Well that is all I have to report. I know I should report this a little neater. I love how JW did his, but I am not as computer literate as he is. I am doing my best, even though we are not where I thought we were ---as far as our savings account goes--we are still doing well with sticking to our personal budgets. I think that is where most people fail. They buy those lattes and don't see how they add up. Keeping our personal spending in check, doling out allowances to our kids and sticking with our budgeted amount for our auto/gas has made a huge difference. I am also discovering peace of mind..that is the best part of all!

So I will keep on keeping on!

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