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Paycheck Decisions

January 19th, 2015 at 02:31 pm

My first paycheck should clear tomorrow, and I'm still up in the air about what to apply it towards.

Including the cash I made today from doing freelance work, I will have a total of $665 after bills.

My only current plan is to put $275 towards my EF. Which leaves a remaining $390.

There is $370 on my credit card, but it's not due until March. So I was thinking of paying $300, and putting the other $90 on the LOC. Or should I just pay it all off, and only send about $20 to the LOC? Sigh. I can never decide. What would you do?

Our New Budget

January 15th, 2015 at 06:12 am

Husband wanted to be included in the budget so last night we sat down and figured up a new budget now that I know exactly what I will be making after tax.

Of course the budget will be a little different for these first couple checks because I owe myself some money and my credit card needs paid down. But hopefully this will be our budget once things get settled.

Our Total Monthly Wages = $3,000

$500 - House
$100 - Propane
$50 - Water
$20 - Trash
$75 - Internet
$175 - Electric (Average)
$300 - Food & Household
$300 - Tithes
$75 - Car Insurance
$10 - Phone
$350 - Car Fuel
$300 - Spending & Unexpected Costs

$200 - LOC Paydown
$400 - Savings
$100 - Home Improvement Fund

That puts our savings/extra debt repayment at 23%. Not included in this figure is overtime, goat sales, side income, tax return, etc. Which all of which goes directly into savings or LOC.

Small Updates & Budgeting

November 25th, 2014 at 12:50 pm

I have $100 to put towards hay. Credit card is down to $150.

Next week hoping to get back on the savings bandwagon.

Internship is still going well, and words can not describe how excited I am to get started on that job full time. I can barely stand it in the office anymore, and I'm just counting the days.

I'm going to be earning a minimum of $300 a week after tax, which is a little bit more than I am making now. Trying to figure out a new budget, since I won't be eating lunch out everyday. Although still probably once a week when I drive to the city to work.

Here is what I have came up with so far:

$300 Weekly Pay

-$50 House Payment
-$30 Tithes
-$10 Internet
-$50 Gas / Spending
-$10 Lunches

Leaving $150 a week for savings/spending

I know want to finish my EF and get as much as possible into the Roth before the deadline. Also need to pay down the LOC, and then start saving for a truck for husband.

Should I do one goal at a time or split my income more than one direction?

Additional bonuses will be sent straight towards the goals. But I can't budget for them at this time, since I have no idea what I will be bringing in.

YNAB & My Budget

August 25th, 2014 at 07:13 am

YNAB is going well so far.

I have been staying in budget for everything, except for groceries! Yikes. I did really good only getting what we need, but the fact is food is expensive, especially dog food!

We are already $30 into our food budget for NEXT week, and I need to go pick up some cheese and sour cream for dinner tonight. After that I'm making it a goal not to buy anymore groceries until Friday.

I did manage to save myself some money! I called the car insurance company and had them shop around for a cheaper plan. They found one for nearly $400 less a year! Whoot whoot! Now I only need to come up with around $165 before Oct.

Put the first $127 of my school bill on the credit card. Only 2 payments of $112 left.

Paid $185 on my credit card today. I only need to pay $15 next week to pay off the statement balance, but I am going to continue to pay it down to $0. I'm tired of having a "balance" on there, even though we don't get charged interest.

Just trying to manage until husband gets paid again. 3 weeks seems like a very long time away.

Reworking Budget

January 17th, 2014 at 07:33 am

Husband got his first big check. Smile

It could not have came at a better time, since our bills are about $120 over budget this month, and the $300 plumber bill. (Still have not got a hold of him yet. We are playing phone tag.)

Since our income will be changing, we finally sat down and I shared my budget plan.

This is a bi-weekly budget.

My Check $470
House $100
Tithes $50
Lunches $30
Phone/Insurance $50
Gas $80
Savings $150

Remaining $10

Of course other expenses usually come up and eat some of my savings money. But I am hoping that with husband raise we will budget some discretionary money, and I wont have to eat into my savings.

His Check $860
Bills/House $300
Food $150
Gas $100
Insurance/Phone $40
Tithes $90
Savings/Bills $50

Remaining $130

Our remaining money will be saved, used for date nights, and remodeling our house.