Friday, March 7, 2008

Monthly Budget

I have had a couple of you ask about how we set up our monthly budget. Here it is and what comes out. Check out Thrifty Florida Mama for a really good budget set up and debt snowball repayment plan.

Here it is in the raw. Not all of these things are paid monthly, but we put back for them monthly.

Savings $200
House ins. $59
Electric $200
Water $37
Cells (2) $85
Home phone, cable & Internet $132
Trash pick-up $17
Groceries (including cleaning, paper, wipes, diapers, etc.) $350
Eating out/Entertainment $45
Gas for both vehicles $440
Vehicle repairs/oil changes $25
Clothing & Cleaners $20
Doctor, Dentist, eye dr. $60
Life Ins. $109
Sitter/mother's helper $40
Housekeeper $100
Toiletries, hair care, cosmetics $13
Subscriptions/dues $5
Gifts & Christmas $35
Vacation (not currently funding)
Blow $$$ $90
Tithes $300
Postage/ Batteries/Pictures (printing) $30
Gas card (balance $600ish) $300
Visa card (balance $2600) $100

Our home and both vehicles are paid for in FULL. Thank you Lord! Those are payments that we do not have. Once the gas card is paid off then the $300 will be applied to the Visa. If we have more then we pay more.
I will be going back to work part time starting in June (if we have a crop) so that will help a great deal. The sitter category will increase then.
We have our Emergency fund of $1000 set up. once we pay off our 2 credit cards we will set up our other emergency fund of 3-6 months of living expenses ($7,000-$14,000).
Then we will start all of the other Dave Ramsey steps. We are going at it somewhat backwards, though it was before we found Dave that we did that.

Tell us about your debt and how you are paying it off. I would love to hear from you.....ALL!



Nico said...

Great job Marva! Good luck getting everything all paid off. Wishing you all the best!

Mimi said...

That's a great budget. I know how much the price of gas is killing my family, and I see it's hit yours hard, too.We are cutting back on "extras" because of it. Gotta feed those cars!

Southerner said...

I posted our budget with a link to you. If you would like me to take your link off let me know and i will be glad to.

mykidsmom said...

Great post Marva. I think I'll post our budget sometime soon, but I would say in many ways it is similar to yours- just about as tight as I can get it!

And the coupons arrived while we were on vacation, so I am just getting to them now- thanks so much!

Marva said...

Thanks nico! We ONLY have those 2 cc left and i hope to see those gone before Christmas! Blessings!!

Marva said...

Yes, it is Mimi! We have very few extras these days.....Blessings!!

hey, how much is gas in your area?

Marva said...

Thanks Southerner! I appreicate thast ans don't mind at all!


Marva said...

Glad you got the coupons mykidsmom! Hope they are useful.

Can't wait to see yoiurs too. I like to get ideas that way! Blessings!!!!

Elijah's Mom said...

I love looking at other budgets.. thanks for sharing. It's good to look at others to realize where I go soooo wrong! How do you do you do groceries on $350 a month?! I'm ashamed to tell you how much I spend! If I can get it under $1000 that's good (5 people) Post more on how you do your groceries!