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Sample month of our new budgeting method

January 3rd, 2021 at 11:01 pm

I thought I'd share my budget for the year. It's an annual budget so each month is a little different; for instance, in February (the month shown below) I'm setting aside $800 for our summer CSA share. But this shows what our fixed or predictable income is, the necessities we need to cover first, and then the variables, listed in order of priority so we fund the more important ones first and go down the list. So far, we are fully funded for January and everything but groceries is funded in the needs list for February. Once we finish funding the essential expenses, subsequent income will go to funding variables. We still have some variable expenses outside of that list, so when they come up, I'll fund them with incoming freelance money if possible, or we'll discuss taking something out of one of the other categories if we need to.

I feed this month by month into our ongoing budgeting tool which I call "Number Crunch" or "future checkbook."

  Fixed income $1,967.30
2/14/2021 CJ paycheck $208.33
2/7/2021 Lower unit rental $5,353.26
  Essential expenses -$2,953.18
2/3/2021 AS healthcare -$41.75
2/3/2021 Roth IRAs -$210.00
2/17/2021 Xcel -$180.00
2/28/2021 Cell phones -$200.00
2/14/2021 Groceries -$200.00
2/28/2021 Groceries -$6,396.19
2/7/2021 Spending money -$198.00
2/21/2021 Spending money -$198.00
  Healthcare expenses -$50.00
  1/2 guitar -$800.00
  Kids' college -$500.00
  Vacays/travel -$250.00
  Giving -$4,152.00
  Needed from NT/AS (gross pay -tax & retirement) $8,245.92

4 Responses to “Sample month of our new budgeting method”

  1. mumof2 Says:

    Just wondering why there are 3 adults there and only 1 of you is working (in the budget anyways) if you have such a shortfall couldn't they look for work to help out a bit? Or am I reading it wrong?

  2. ceejay74 Says:

    I must have explained badly...the income listed is what we know will come in monthly. AS is self employed and brings in about as much as I do, but it comes when it comes. Last year she got $300 one month, and $17,000 another! NT had a full time job until he was laid off late last summer, and his severance package ran out in December so now he's getting unemployment and working part time for AS and our neighbors, and looking out for other options as well.

    So I predict between them they'll bring in $90K or more this year. But since it's all unpredictable, my goal is to fund a month or more of our budget in advance, to buffer against those $300 months!

  3. Petunia 100 Says:

    Is this budgeting software or your own spreadsheet which you made?

    Best wishes to you and your family in the New Year. Smile

  4. ceejay74 Says:

    Thanks Petunia! It's my own very DIY budgeting spreadsheet; I have 12 tabs one for each month. Then I have a separate, running spreadsheet where I start with the checking account balance and look forward a month or two, showing the projected balance with each piece of incoming and outgoing money. When it's getting close to the next month, I paste it over from my 12-month sheet into the running one.

    I have several other spreadsheets as well where I record debt totals, savings totals, and the family's personal spending balances. I keep 'em all in Google Drive so I can view past versions and access them from any device.

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