My Household Budget

Recently Serendipity and Red posted their household budgets. I realized I should do this also so that I can keep track and everyone else can have a little view into my life.

As most of you know, our goal right now is to increase our monthly income by another $1,000. This makes bill paying much easier and paying our debt much more possible. With this extra money, all of our budgeting percentages here, have gone down.

Anyways, this is what our monthly household budget looks like:

  1. Mortgage: $1,100

  2. Car Payment: $400

  3. Gas (car): $350

  4. Electricity: Anywhere from $50 to $250

  5. Gas (house, heat, stove): $30

  6. Cable: $60

  7. Internet: $60

  8. Car Insurance: $100 for all cars

  9. Groceries: $300 a month

  10. Eating out: We really need to cut down on this, but this can be anywhere from $300 to $700 a month.

  11. Cellphones: $110

  12. Sewer: $30

  13. Trash: $17

  14. Water: Around $21 a month

And then whatever is left over gets split up among debt and emergency savings right now. This is usually anywhere from $500 to $2,000, it just depends on the month. It fluctuates so much because I didn’t have a vacation fund before, and I’ve gone on lots of vacations this past summer.

Luckily, my work has a great retirement plan and I have a Schwab account set up through them. My goal right now is to pay off debt, and then to start contributing to my retirement account as well. I know this is not the way others would do it, but I hate my debt, so this is my plan first.

How is your budget going? Any tips or insight on my budget?


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