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Our Monthly Budget

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Since this blog is all about managing your money, I like to share our monthly budget and update it regularly.

Here is how our budget looks right now:

  • Income Taxes – $1000
  • Home Mortgage – $990
  • Home Insurance/Property Taxes/HOA – $850
  • Rent House Home Insurance/Property Taxes – $400
  • Food (Groceries and Splurging Out) – $500
  • Health Insurance – $550
  • Honda Fit Car Payment – $275
  • Electricity – $150
  • Gasoline – $150
  • Car Insurance – $80
  • Cell Phones – $75
  • Internet (DSL) – $60
  • Cable (our part) – $40
  • Lawn Care – $50 (average over the year)
  • Water – $50
  • Natural Gas – $40
  • Life Insurance – $30
  • Medicines – $20
  • Netflix – $10
  • Other Entertainment – $100
  • Miscellaneous and Cash – $250
  • Total Expenses = $5670

Those expenses are taken out of the $7000-$10,000 a month we make through Crystal-For-Hire ($3000-$5000), rental income ($2000), pet sitting income ($2000-$4000), and sports officiating income ($0-$3000). Taxes eat a chunk, our two homes eat a chunk, and we splurge a chunk. But we save a nice chunk too – about 20%-25% total to Roth IRA’s and a SEP IRA.

Unplanned expenses that pop up on the budget are taken from the appropriate target accounts that we fund with the extra money when we have it. The extra is split up between the following accounts based on how our targets are looking:

  • Emergency Fund if it isn’t topped off
  • Roth IRA’s if not fully funded
  • SEP IRA (about $11k a year right now)
  • Rental Property Maintenance Fund if not topped off
  • Cash for Investments
  • Car Fund
  • Vacation Account
  • Fun Money Accounts

You can also go over and see exactly How I Budget.

I am hoping to show how a normal couple, even with unstable, fluctuating self-employment income, can budget their money to pay for our needs, our future, and the fun stuff along the way. The budgets I published 3 or more years ago were based on our income as an office worker and public school teacher, so please do browse around the site to see if any of our current or previous situations remind you of your own. 🙂

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