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My New Ride

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I am very surprised by how okay I’m feeling about this car, or rather no car plan. I am excited about no car payment and no insurance payment. I am excited about the extra motivation to continue on my weight loss journey.

I am grateful that I sprung for this really nice, comfortable bike way back when. And I’m especially grateful that I did not get rid of my bike over all these moves and my minimalist kick.

Today is the first day of this plan. I returned the rental car. The twins are tied up all day with work and school…time to get ready for my new normal.

I’m reading all your comments on my last budget post…thank you for the constructive feedback. I’ll respond after I put some thought into it and look into my forecasting…

Revised Budget

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Now that I no longer have a car payment and our auto insurance and fuel cost has been reduced, I figured I should redo my budget for the summer. And I also needed to add a line item for a car savings account.

I also took your notes on my last budget into consideration and separated the groceries and entertainment. And I added an income line item.

Hope's Summer 2019 Monthly Budget, Rev 2

DescriptionMonthly Budget
EF Savings$100
Car Savings$800
Rent$650
Groceries$500
Entertainment$200
Household (hygiene, cleaning, etc.)$10
Auto - Gas$60
Auto/Rent Insurance$150
Utilities (gas, electric, water, trash)$300
Life Insurance$23 (paid quarterly)
Buffer
Kids Activities$83
Gifts$83
Clothing$100
Travel$500
Auto - Maintenance/Fees$30
Debt Payments - minimum payments
Student Loans$100
Credit Card$62
Collections$0
Sub-Total$3,811
Sea Cadet & History Buff's Contribution($307)
Total Personal$3,504
Income$3,850

Notes:

  • My income varies greatly from month to month, but this is a good average. Any excess goes to debt payments.
  • I figure if I can save $800 a month towards a car…well, it’s a start of a plan in that respect.
  • I think our grocery budget will go down a bit more, but don’t want to assume until I get a good feel for a new normal with the change to the summer schedule. And Gymnast will be here for the month of July and part of August.
  • My travel budget can probably be cut a bit more. I’ve already booked our trip to Texas in June/July and was able to get flights for less than $80 each way. Score! More on that in a later post.

I welcome any constructive criticism on this new budget. It’s definitely not been as thoroughly thought through but I think it’s workable.