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A snapshot of our stripped-down monthly budget

January 3rd, 2015 at 03:34 pm

Since I started making an annual budget spreadsheet, I don't use a monthly budget anymore. But recently NT asked how well our regular income was covering expenses, and I honestly couldn't say. I knew our budget was balancing and we were putting a bit aside, but that was it.

So I resurrected my old monthly spreadsheet and updated it with current numbers. Since AS doesn't have a regular, predictable paycheck, I didn't put anything down for her income. She's brought in quite a bit, but with paychecks arriving sporadically, it's hard to say how much will actually come each month.

This stripped-down budget doesn't have anything extra going to retirement, charity, extra debt repayment or savings. Housecleaning is long gone, of course. It includes my and NT's 2014 net pay; we expect them to change in 2015, hopefully for the better.

Income:
CJ paycheck $1,621.64
NT paycheck $1,567.64
Duplex rental $1,074.00
Parking space rental $85.00
CJ paycheck (est) $1,621.64
NT paycheck $1,567.64

Total Take-home: $7,537.56

Expenses:
Daycare escrow ($1080 - $416.66 FSA) -$703.34
AS healthcare (est) -$200.00
Duplex mortgage -$3,149.72
Condo mortgage -$1,030.32
1st-15th groceries/household -$400.00
Spending money -$120.00
Utilities (est) -$400.00
Condo association -$696.03
Spending money -$120.00
Promissory note -$118.70
Xmas & bdays -$133.34
NT extra student loan -$25.00
Spending money -$120.00
16th-31st groceries/household -$400.00
Spending money -$120.00
Barber ($80 every 5 weeks) -$40.00
AS student loan -$157.56
Cell phones (est) -$50.00
Extra spending money -$40.00
Hourcar (Chase Freedom) -$90.00

SHORTFALL -$576.45

Considering that AS has been tending to bring in a lot more than that every month, it's not too bad. The budget breakdown is WAY out of whack, of course, since we're carrying two mortgages and two sets of utilities:

CATEGORY AMOUNT % OF TAKE-HOME PAY
Mortgage/Utilities/Telecom $5,444.77 72.24%
Debt Repayment/Savings $182.56 2.42%
Spending/Entertainment/Travel $653.34 8.67%
Household/Groceries/Healthcare/Transportation $1,833.34 24.32%

TOTAL $8,114.01 107.65%

Sigh. I look forward to getting these numbers back in balance gradually over the course of the year!

2 Responses to “A snapshot of our stripped-down monthly budget”

  1. CB in the City Says:

    Does NT get two checks for the same amount? Or is the duplication a mistake?

  2. ceejay74 Says:

    Yeah, we each get two paychecks a month.

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