11/07/2008

NtJS Household Budget - Nov 08

We're about to get a bit more personal here at Not the Jet Set. We talk a lot about budgeting, and made it quite clear how important it is. But how are we doing? The Mrs. is a budgeting ninja, but does it always work out perfect? Do the months march along to our beat with no slip ups, no trip ups, no overdrafts, no empty envelopes?

Nope.

Sorry to report: We are not perfect. Yes, life happens to us, just the same as anyone else. With all the provisions in place - budget, cash envelopes, debit card, emergency fund - it is still possible to end up with too much month left at the end of the money.

So we're going to start something new here. A glimpse into our finances - our monthly budget. We'll start with a review of the previous month and then look at the coming month. Every month, we tithe, we pay our mortgage, pay our utilities, budget for necessities like food and clothing. We also put away a monthly amount towards irregular bills like insurance and property taxes, and save for retirement. But then there is the rest. Where does it go?

So lets dive right into our October Recap:


October's Budget Recap:

  • Food ran out early - fruit season (1/4 of food budget went to apples alone)
  • Spent hair cut and eating out money on groceries, no groceries in last week
  • A new line item for beer was added and used wisely
  • We were under budget on gas because we over budgeted for our 6 hr each way trip to the doctor (long story)
  • Added a new date night line item and we went way over budget on that as well which robbed the dog's shots for the month.
As you can see, a tad too much month left at the end of the money. It happens. We survived.

November's Budget:
Here is what we are doing in Nov.
  • Budgeted for new jeans for Mr.
  • Charity dinner is part of tithe this month
  • Re-budgeted for the dog's shots
  • Adding some extra towards Christmas gifts
  • Finding room for the fees for Mr.'s winter basketball league

'08 Budget Goals:
  • Fully fund retirement- partially funded via work 401k, not adding to Roth until after the new roof funds are fully saved
  • Fund college savings again. - adding this month
  • Save for new roof- continuing and should be have enough funds by spring

How well does your budget work? What are your problem areas?


3 comments:

Tosha said...

"too much month left at the end of the money"- I love this line! Did you come up with it? My husband is always finding there is too much week left at the end of his "allowance", lol.

Mr. ToughMoneyLove said...

A line item for beer? I love it. And "used wisely"? I would like to read that story.

Mr. (not) the Jet Set said...

Tosha - We're clever, but not that clever. "too much month left at the end of the money" is a hangover from listening to the Dave Ramsey Show. And I think Dave got it from a country song.

Mr. Tough - And that was pure Mrs - the line that is. After those first two list items, spending beer money on beer is a win. An easy win, but one I'm happy to take. Adding a line item for beer was by my request. One that she was happy to fill. Original post on adding beer to the budget is here.

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