Since hubby’s last grad school payment is ready to go and I severely overestimated our property taxes for 2009, we needed to revamp our monthly budget.  We want to pay off our car loan ASAP, so this is our new budget until December 2010:

• Mortgage – $900.00
• Car Debt – $650.00
• Roth IRA – $300.00
• Opportunity Fund - $120.00
• Car Payment - $330.00
• Car Insurance – $115.00
• Gasoline – $200.00
• Electricity – $200.00
• Water – $30.00
• AT&T U-Verse & DSL- $100.00
• Sprint – $85.00
• Groceries – $300.00
• Fast Food / Restaurants – $200.00
• Medical – $100.00
• Misc. Bills – $100.00
• Joint Entertainment – $100.00
• Hubby’s Fun Money – $125.00
• My Fun Money – $125.00
• Housekeeper - $100.00
• Lawn Services – $50.00
• Netflix – $20.00
• Pet Account – $100.00
• Car and Home Account – $200.00
• Vacation Accountt – $250.00
• Property Tax & Insurance Account – $0.00
• Emergency Fund (currently has $10,000) – $0.00
• Cash – $200.00
• Total = $5000

That comes to $60,000 a year and we make $78,000 jointly.  Taxes, the pension, the 401k, and our benefits account for the other $18,000.

Unplanned expenses are taken from the appropriate target accounts.  Extra money from our hobby jobs is either put towards debt or split between the Emergency Fund (50%), the Vacation Account (25%), and our two individual Fun Money Accounts (12.5% each).

As always, I am still donating my time and both of us donate our own fun money to the charities we love to support.

That’s it – our new budget for quick car loan annihilation!

What do you think?  How has your budget been faring?