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August Goal – No Unplanned Spending

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With summer winding down, at least we think, and school starting within the month, we all hope. I have decided to do a no spend month for August. And by that, I mean, not spend anything not already planned for.

Here is my August plan, my forecast, taken from my spreadsheet where I track and plan all spending.

Netflix 1-Aug-20 -15
Rent 3-Aug-20 -650
Dental Insurance 6-Aug-20 -41
Nelnet 7-Aug-20 -600
Water/Gas bill 7-Aug-20 -151
Allowance/Savings Trsfr 7-Aug-20 -70
USAA Auto Ins 10-Aug-20 -477
Allowance/Savings Trsfr 14-Aug-20 -70
HRV 15-Aug-20 -250
Groceries 15-Aug-20 -50
Nelnet 21-Aug-20 -350
Allowance/Savings Trsfr 21-Aug-20 -70
Spotify 24-Aug-20 -15
Nelnet 27-Aug-20 -650
Allowance/Savings Trsfr 28-Aug-20 -70
Auto – Gas guesstimate -100
Total Spend $3,629
Debt Payment $1,850

I’ve got a minimal grocery spend in the middle of the month for fresh produce. Guesstimated a low gas month since school has not started yet and the girls both work less than a mile from the house. And included all bills that have yet been paid for the month. (I’ve already paid the electric and internet bills for the month.)

Almost 50% Goes to Debt

Because we live off of last month’s income, I am very comfortable I can reach this goal. I’ve already received all bills so I know these numbers are accurate as far as utilities and fluctuating costs. And I have scheduled most of these payments. I haven’t scheduled the last student loan (Nelnet payment) because I’m still waiting on customer payments to come through and it wouldn’t let me schedule out that far. But I should have the final payment pre-scheduled by the end of next week.

If we stick to this, our monthly spend will still be high, right at $3,629; however, over HALF of that is going to debt. I’m planning for $1,600 to go toward student loans next month.

Do you know what this means? When all is said and done and I get out from under this debt, my living expenses will be almost nothing. I mean, not nothing, but very manageable. Now that is a thought to keep me motivated!

So here we go to a No Spend August…or at least no unplanned spending!

Hope’s Budget – Fall, 2020

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Starting the fall off right…a new budget, a focused mindset and for the first time, a house for of high-schoolers and up! (Gymnast was in middle school when he left for his dad’s and now he’s back and a sophomore in high school.)

The girls are very focused on finishing their final year of high school strong. Gymnast is nervous but also excited to get reconnected here. He debated doing online only, but after we talked about, we have decided that going back to in person school will help him make some local friends.

I don’t think there are any great surprises here.

Line ItemMonthly Amount
Household Expenses
Rent$650
Auto - Gas$120
Auto/Renters Insurance$500
Groceries$500
Netflix$15
Spotify$15
Allowance$120
Utilities$300
House/Yard Maintenance$25
Household Savings
Auto - Maintenance$35
Life Insurance (paid quarterly)$23
Gifts - birthdays, misc$50
Christmas$100
Travel$50
Savings$200
Debt Payments
Car Payment$250
Student Loan$306
Totals$3,259

Princess

My auto insurance has gone up since adding Princess. And I will continue paying for it since she will be going to school and playing her sports. She is planning to keep her job, but will definitely have to cut her hours. The money she does make will cover her personal spending and then some savings towards college. I am really proud of how much she saved this summer. And better yet, she’s proud.

Gymnast

Since Gymnast is back home, I have begun giving him a regular allowance. That covers his spending money and hygiene expenses. He’s got his driving permit and enjoys driving. But this mama is really glad I don’t have to add him to the auto insurance until next year. I don’t even want to think about it!

Beauty

Beauty has switched jobs in the last couple of weeks. But will also continue working part time like Princess through the school year. At this point, she will not be doing any extra-curricular activities so will most likely work more hours than Princess. I did buy her some back to school clothes and will get her school supplies, but otherwise, she covers most of her own expenses along with saving for a car. She is a fantastic cook and cooks regularly for the family.

History Buff

History Buff will continue to pay $250 in rent to me until he moves out. I did make a deal with him, that while he must pay me rent on the first of every month…if he moves out during the month, I will return that month’s rent to him. And he also pays me for his cell phone service. He had plans to get his own cell phone plan and then he realized just how much money he is saving by being on our “family/business” plan and quickly backed off that idea. He is now on his own car insurance plan.

I think that about sums up where we are and how I plan to spend our money for the rest of the year. I previously published my student loan plan. I just put the minimum required in my budget.

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