It's been awhile since I've reviewed our budget to see where things stand and see if there are any possible increases in debt repayment or savings.
Here's what the month looks like so far:
Fixed Expenses:
Mortgage & Property Tax - $1844
Automobile (Payment, insurance and gas) - $876
House Alarm & Insurance - $81
Life Insurance - $300
Bank fees - $14
Variable Expenses:
Utilities (Cable, phone, internet) - $200
Cell phones - $100
Food - $500
Debt repayment - $1100
Other (Nursery school, gifts, entertainment) - $300
TOTAL: $5215
Monthly Income:
$5600
This would leave us with $335 to put away into our EF and savings accounts. It seems so simple and straightforward when I have it typed out, but for some reason I still struggle to stay on top of things.
So goals for February are:
- Increase EF fund by $200
- Increase savings by $100
I really need to revisit our budget .. again... and figure out a better way to track our expenses and spending.
Feeling quite overwhelmed right now.
Do you use cash? That'll simplify your budget.. Leave the $$ in the bank that you need for your fixed expenses, then pull out your variable income & write down where you spend & how much. This will keep you on the straight n' narrow!
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