I published our updated budget in January but thought it was time to look into what we could cut pretty easily to save for more important goals. We are still aiming to pay of our rent house mortgage by the end of this year and would also like to fit in a couple of fun excursions, so let’s see what we can cut without much pain at all:
Here is how our budget looked and what is changing:
- Rent House Mortgage – $505
- Rent House Home Insurance/Property Taxes – $275
- Home Mortgage – $990
- Home Insurance/Property Taxes/HOA –
- Health Insurance – $350
- Life Insurance – $30
- Car Insurance –
- Gasoline – $150
- Electricity – $200
- Water – $60
- Gas – $40
- Eating Out –
- Groceries –
- Cable/Internet (DSL) –
- Sprint – $150
- Housekeeping – $175 (average over the year)
- Lawn – $60 (average over the year)
- Medicines –
- Toll Roads –
- Miscellaneous – $100
- Cash – $100
- Total Expenses =
All of the crossed-off costs have been changed EXCEPT cable. We are looking into that cut right now. We finally want to give in to everybody’s pushing since an antenna, Netflix, Hulu, network sites, and a variety of other services can pretty much take care of our crazy tv habit. We’ll see if it makes sense for our household.
The rest sort of cut themselves or we’ve already changed our habits in order to save the money. I overestimated the property taxes for our new house, so that is a readjustment. I called GEICO and changed to a new plan to save half on our car insurance. We’re consistently keeping our food spending to $500 or less and are driving less on the toll roads whenever possible. And the new health insurance policies mean I save money every month on my regular monthly meds. No matter what, we’re looking at $4000 or more in cash we could put towards any of our other goals. That sounds great to me. 😀
Have you taken a look at your budget lately? See anything you can cut pretty easily to save for your priorities?
FYI: I worked at a dead end cubicle job from 2005-2011 for about $30,000 a year. I went self-employed in July 2011 and make between $80,000-$100,000 through blogging, a rental home, and professional pet sitting. If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you). I even have all of my favorite tools on a resource page – I hope they help you too.
This all gives me the time to be with my aging family members, the flexibility to stay close with my friends and family, and it should help if we finally get pregnant too! Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!