Reset Budget

As promised, here is our reset budget that started September 1st. The current plan/ goal is to stick with this budget until next July.  This represents a combination of both Matt and I regular salary in addition to my extra money earned via Tiny Eye. I will share some additional information if you are interested after the budget

offering 580
Mortgage  944.52
water 30
electric 276
Road runner 138.2
Car Payment 344.02
cellphone 306
Groceries 500
Adobe/Computer 75
AAA/Insurance 100
Gifts 298
Gas 300
Piano 120
Clothing/Hair  80
Medical 100
Saving 120
Chores 200
American Express 200
5/3 Card 200
kids/pool 200
Auto 100
total 5211.74

The last four lines American Express, 5/3 Card, Kids/pool and Auto are all based on my expected income from Tiny Eye. I still do not have a start date nor a steady schedule so these are very fluid at the moment. I hope once things settle ( By December) I can post more realistic numbers.

The following categories are cash: Groceries, Gifts, Gas, Piano, Clothing/Hair and Chores.

Currently any “extra money” is being held in our main checking account. In the near future any extra cash will be place either for fun or in the kids/ pool account.

Medical- $83 a month until April of this is being paid for Zach’s braces. The remaining is for doctor’s visits and prescriptions. I was able to stock up on most medication and doctor’s visits prior to changing jobs so I anticipate keeping this fund at the same level but allowing it to grow after April.

Gas- We are closely monitoring this category for the next several months as I am not sure about traveling and how much we will actually spend. I may need to increase by $50 a month just from observation so far in September.

Chore- I have checked local prices and this is most likely less than I would be paying for house cleaning every other week. Money that is not being used will either roll into fun money or may stay in the main account depending on our needs.

Clothing/Hair- this may seem high at first glance but with 5 heads of hair it is probably a little low. This is again a category I will be closely monitoring.

Gifts- 5 children for both Birthday and Christmas. This will also include gifts for parties or other occasions as well.

Thoughts or Questions?

August in Review

August was stressful, both financially and personally. We weathered a lot of changes. Even with the knowledge that all the changes would eventually be for the better, it was stressful and frustrating. One of my greatest frustrations has been trying to reset/ restart our budget in September. To be honest, this process is not complete so I am very reluctant to share all the details. If things occur as I have been promised by next weekend, I will share our new budget in addition to the changes we have been able to make.
Financial- August was a month of wait and see. All the bills have been paid for the month and we did reduce our overall debit by $200. Alot of planning and preparing and re-thinking has occurred with our budget this month. One of the biggest changes is starting in September we are going to be using a modified cash envelope system.
Grocery budget $475- Total spent $550.  I spent ALOT of time and money on preparing food ahead of time the week prior to starting my new job. I am fully stocked on most items and need only to buy a few things hopefully over the next 3 months. My plan is to raise the grocery budget to $500 and use a 3 month rotation of cash. In other words I will carry any money left in the budget for 3 months before adding to saving or paying on debit. There will be no borrowing for the next month because if the cash is gone, find another idea.
Kid/Summer expenses : We spent our week at the beach with a full day of shopping. I also paid school fees, ($14) and baseball sign up ($90). Lily will start youth theater in September and I expect around $200.
Earned $60- Much lower than other month but we were out of town for a full 7 days with no extra earning potential.

Personal-
Blogging-12for the month.  A definite improvement that should continue over the next several months.
Exercise- 8 total days for the month. Small improvements are key in this area. I hope to continue this trend but this is heavily dependent on the number of additional hours I pick up with my skype therapy.

We survived the biggest changes that have occurred in our lives, outside of having kids. I am happy with August. We are beginning September with a clean slate and new beginnings that have us set up for success. I am so optimistic and can’t wait to share!

July in Review

So July did bring some much better news for us financially. Matt started his new job in July!  We will not see a huge benefit with this until at least September but it is a huge first step.

Financial- July was not as good as June,  We increased our overall debit by $459. I am hoping to see a significant change in this in August. We have some outside of the box plans that I will share as they occur.

Grocery budget $475- Total spent $580.23. Yikes. This is another month over budget. I may need to increase this amount again in the coming months when things settle down.

Gas budget- $280- Spent $291. I am going to increase the budget to $300 a month starting in August.  We purchased a small car to use for my home health job so I am hopeful that this will keep our expenses close to $300 each month.

Kid/Summer expenses : No extra expenses for July. However both Baseball and LYT will be due in August

Earned $115- This is also a slight improvement over the month of July. Shopkicks has been the difference this month. Extra money is always a bonus!

Personal-
Blogging- 7 for the month. This should definitely increase with my new job!
Exercise- 5 total days for the month. Small improvements are key in this area.

I am going to be really honest and say that August appears to be another tight month until we are able to adjust to our new incomes. I will only be paid for 2 weeks in August and Matt will be short of pay for our week of vacation. 

 

June in Review

If you know me at all, you realize that I have very little patience and hate wait for things to fall in place. But as usual God’s has better and other plans, so the month of June has been spent in anticipation.  My prayer is that by the end of July, I will be able to share what we have been waiting and anticipating or the process is complete and I will be content in our current situation.

Financial- After such a rough month of May, June is at least better. We reduced our overall debit by $220 which is a baby step in the right direction at least. Matt has accepted a different part time position with an increase of fifty cents per hour. I did receive and spent my extra paycheck in June but we are moving in the right direction and progress is progress.
Grocery budget $475- Total spent $361.20. Another win for the month. I am also very pleased to say that this includes a trip to Aldi today in order to grab items that are needed for next month’s menu plan and breakfast as well! I am going to continue monitoring this area as the kids were out of town for a week so that might have helped stay under budget for the month.
Gas budget- $280- Spent $311. I am going to increase the budget to $400 a month starting in July, approximately $100 a week. The cost of gas is increasing and Matt’s new job is a slighty longer commute so this should help to balance things out. We also have to have the inspection on our van and pay taxes and tag fees in July.
Kid/Summer expenses : Camp , swim team bathing suits and new goggles. I think for the month of July we should not have any extra expenses!  We are enjoying our season passes to Emerald Point but the kids are aware that they need their own money if they want anything extra.
Earned $85- This is also a slight improvement over the month of May. Shopkicks has been the difference this month. I will admit that I could cash out for another $25 on Swagbucks but am choosing to wait for the discount tomorrow!
Personal-
Blogging- 11 for the month. Small improvement but did not meet goal.
Exercise- 5 total days for the month. Small improvements are key in this area.

June did turn out to be a better month all the way around for us! Waiting is hard but we are going to stay the course and wait for God’s timing!

May in Review

This has been a long EXPENSIVE month. I am so excited to say goodbye to May and hello to June. Matt and I both are still working on increasing our income and hopefully we can start to see increases in the month of June.

Financial- This is the worst month this year in regards to finances. The good news is that I receive an “extra” paycheck in June. My goal is to reset and hopefully get our feet back on steady ground. I blogged here  about most of the expenses. I was not able to cover them all but we are still eating and floating so I am so thankful to head to another month.
Total paid to credit card debit $1173 total, however this did not produce an reduction Instead we increased our overall debit by almost $600.
Grocery budget $475- Total spent $608.08. Yikes, It happened again and this does not include our cow purchase. I checked and we have been over budget in this year for 5 out of 6 months. I need to take a good look at this for the next 2 months and may in reality need to increase this to a larger more realistic number. We are well stocked and I would love to say we are planning to spend much less this month but I honestly think the kids are growing and we are eating more.
Gas budget- $280- Spent $285. This does not include the inspection, or tags on Matt’s van.  I also plan to re-evaluate this during the next two months and may increase if needed.
Kid/Summer expenses : Camp deposit, swim team, baseball games and we are not even going to talk about the medical expenses.
Earned $75-this is the lowest month to date. I am somewhat frustrated but extra is extra so we will continue to attempt to use whatever we can get.
Personal-
Blogging- 9 for the month. No goal met here either
Exercise- 0 total days for the month.

This is real life and just because we have a bad month does not mean we stop working. I am super disappointed but I lived the real struggle this month.  I am praying and holding steady for better times ahead.

March in Review

I am giving a huge sigh of relief as I type this.  March was a long and busy month but I honestly don’t feel like I was overwhelmed by it. The best news of all is that we are ending the month on a good financial note. I still have to pay for pool dues for the year but other than that yearly expense, we are on track. We did not make major gains this month but we did not have major loss either.  Personally I have spent several days this month working in the yard and even managed a walk one day. Spring appears to have finally arrived as well. The weather shows highs around 70 for much of the week.  We did turn off the heat on Thursday, so my fingers are crossed for an entire month without heat or air.

Financial- We are attempting to use a cash only method for the first six month of the year in order to get us some better financial balance.

  • Total paid to credit card debit $2096 total reduction in credit card debit approximately $200. Amanda purchased a new washer and dryer that she is paying for and has already covered over half of it. It is very difficult to get a good read on the actually numbers but we are basically at the same level of debit as we were in January. Slow and steady progress is the best method and unlike last year, in which we started increasing our debit in March and never looked back.
  • Grocery budget $475- Total spent $726.27. Yikes, I did spend extra to purchase ground beef and had several trips to stock up on good deals. I have already discussed with Matt that we will be on a purchase only if we are out grocery budget for April.  I am allowing my self 2 exceptions, chicken breast from Zaycon at the end of the money if we have enough remaining out of the very small $100 budget and purchasing Suddenly Salad if they go on sale for $1 or less a box.
  • Gas budget- $280- Spent $261. This is really impressive since this was a 5 week month.
  • Kid/Summer expenses : uggh lets just say Lily had a 3 night play that was $9 a ticket and Zach started Baseball along with several field trips and the purchase of year books for Zach and Kendall. I really don’t feel like finding a number but it was all covered.
  • Earned $100- this is indeed a much lower amount than any of the previous months I have tracked but it is still extra money and I hope to see this number double in April.

Personal- 

  • Blogging- 11 for the month. Super busy this month. I initially set the goal for 20 but 15 may be more realistic.
  • Exercise- 4 total days for the month.  a goal of 15 but not sure if that is realistic or not.

February In Review

I did not want to write this post. In fact, I am writing it 4 days late because I have been avoiding putting the words to the paper. February was a hard month both emotional and financially on me. Actually I think that says it way to nicely. FEBRUARY SUCKED.

Financial- We have been hit with several unplanned financial expenses including a new tail light for my van, nails in at least 3 tires and kid’s expenses were really high for the month.

  • Total paid to credit card debit $981. We also added to our credit card debit by $381
  • Grocery budget $450- Total spent $466 I had planned to spend only $300 but…
  • Gas budget- $280- Spent $205, This was managed by only paying cash for gas and moving money other places.
  • Kid/Summer expenses : $200, Zach was registered for Baseball, purchased new bat, glove and pants. Lily need silent auction item for LYT
  • Earned $125- this is indeed a much lower amount but this is the expectation until at least March.

Personal- I fail, just do not want to even discuss it any more.

January In Review 2018

The final week of January has been a rough one for us, on many different levels. Today is Thursday and I can see a small light at the end of the tunnel at least for this week. Both our electric and water bill will be extremely high for February so I am already working the budget numbers to accommodate the extra amounts.

Since I am not totally positive on what things I want to monitor this year I am going with a list method of goals and may decide to add or delete a few as the weeks go on.

Financial- We are attempting to use a cash only method for the first six month of the year in order to get us some better financial balance.

  • Total paid to credit card debit $1050 total reduction in credit card debit $415
  • Grocery budget $160- Total spent $200. This is still $275 less than budget.. I will be increasing the February budget to $300.
  • Gas budget- $280- Spent $235
  • Kid/Summer expenses : $85
  • Earned $170- this is indeed a much lower amount but this is the expectation until at least March.

Personal- This is truly where I am add or change several things

  • Blogging- 15 for the month. I am going to set a goal for 20 but realize that is probably not realistic.
  • Reading The Bible – 31 days complete!
  • Exercise- 7 total days for the month.  Again setting a goal for 15 but not sure if that is realistic or not.

2017 End of Year Financial Update

One of the reasons that I continue to blog after 7 years is that I enjoy having a record of our lives. I decided to go back and read what we were doing last year at this time and it is amazing how similar my years are starting to look. I am also able to see where we are financial and make plans that should work.

This year has brought about many life and financial changes for us. The biggest change is that Matt is working a part time job. Our goal is to return to a stable financial ground and then begin to complete some of our “wish” list. I spent several hours between last night and today looking and gathering data  in order to get a good picture of where we are and how to achieve our overall goal for 2018. I am planning to continue the monthly review post as this make finding things much simpler. I have decided on two big changes that will occur. First, we are returning to cash for both gas and groceries. I am talking the actual cash that you carry. I will plan to transfer money to cover any Costco trips on the day the trips are made as well. It has become very easy to just bring out a card but that is not how I want to live so to stop takes a drastic action. The second is more of a mind set change, we are budgeting all money except for extra earnings. These extra earnings from apps will be used for eating out. We enjoying eating out and this is basically fun money that the whole family can enjoy. Other small changes in amount will also help us gain a more stable financial ground.

As you read you will see I like the idea of January being a time to reset our budget. Now on to the numbers…

  • We increased our overall debt this year by $6500. Our current minimal credit card payment is $989.69 a month.  The plan for at least the first six months is to keep this minimal payment the same each month, which should get us started in the right direction in order to reduce it by $10,000 this year. We will focus on paying extra on the small cards as we earn or save it.
  • Extra earning in our budget is money earned from apps. I know that this amount may decrease this year due to several of the apps are no longer paying out. I have said all along every little bit helps and it adds up quickly. In 2017, we earned an additional $2,315.  In 2017, this money was designated to help pay on our Disney trip. This year, we will use the extra money as a “slush fund” it will cover unexpected expenses or treats including eating out and gifts.
  • Groceries- I am amazed by these numbers in a good way. We did not include the cost of purchasing a cow but we also are eating more food as the kids grow. In 2017, we spent a total of $5,578 on food or an average of $464 a month. These amount include anything we use in the house such as toothpaste and laundry detergent as well.  I set the January grocery budget at $160 due to our December stock up. Otherwise, the grocery budget will be reduced to $475 a month!
  • Gas- We are going to change the way we budget for this as well. We will begin budgeting $70 a week strictly for gas, this will actually decrease the monthly budget by $20 but should be easier to maintain especially for 5 week months. Along with this change, I am changing the “insurance category” to  included taxes, tag and repairs. This will increase $20 a month to $92.
  • In the past, we have had a “pool” fund however this is changing to “Summer fund” which will include the pool along with summer camps and swim team expenses. My goal for this fund is $2000. . We will plan to place $100 a month into this fund with an additional $400 from each of my “extra” paychecks going into it as well. This first year is budgeted a little differently as the money will need to be available sooner, so we will use our income tax return to fund at least $1000 this first year.

I am actually excited to start with our new budget and see if I can save even more!