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Managing Your Monthly Nut

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Our Monthly Budget

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

Here is how our budget looks right now:

  • Income Taxes – $2500
  • Home Mortgage – $990
  • Home Insurance/Property Taxes/HOA – $750
  • Rent House Home Insurance/Property Taxes – $275
  • Health Insurance – $275
  • Car Insurance – $55
  • Gasoline – $150
  • Life Insurance – $30
  • Electricity – $175
  • Water – $60
  • Natural Gas – $40
  • Restaurants – $250
  • Groceries – $250
  • Cell Phones – $150
  • Medicines – $20
  • Cable/Internet (DSL) – $120
  • Housekeeping – $175 (average over the year)
  • Lawn – $80 (average over the year)
  • Miscellaneous – $200
  • Entertainment – $200
  • Cash – $100
  • Total Expenses = $6845

The new expenses are taken out of the about $9000 a month we make through Crystal-For-Hire and rental income. As you can see, taxes eat a big ol’ bite though – at least 25-30% after deductions (about $30,000 a year).

Unplanned expenses that pop up on the budget are taken from the appropriate target accounts that we fund with the extra money.   The extra $2000 a month is split up between the following accounts as necessary:

  • Emergency Fund
  • Roth IRA’s
  • Cash for Investments
  • Car Fund
  • Rental Property Maintenance Fund
  • Home Maintenance 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 self-employment income, can budget their money to pay for our needs, our future, and the fun stuff along the way.  :-)

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