by Hope
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
| Description | Monthly 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.
