The year is nearing an end, and ours was a good one! How about yours? Well time for budget crunching for the new year. Just a few minutes ago, I sat down to do our bills for the start of January. Yeah!! No not really. It sucks when you see your account go from, well positive to well, still positive thankfully just not nearly as large of a number it was showing just 5 minutes ago.
So here is how my family does our money. I don’t think that there should be any secrets about anything, especially when it comes to finances. However… I do not tell everything to Sean, it is available to him, but… he chooses not to know, because money stresses him out. We have a few bank accounts scattered around, so we have some money going to Ohio, which we try not to touch, and if we ever are in need of an auto loan or something, we try to go through them, and then the money is set up to go there anyways, so it is nothing we will be missing out of our budget. Then we have our main account in Alaska, this is where the main part of Sean’s check goes, we pay most everything from that account. Then we have our little account here in Nevada. What do I mean by little account? We only have $100 per month going to this account, and then if someone gives us a check or taxes or whatever extra money we get goes into this account.
So about a wk ago, I asked Sean for the first time in our marriage (cause again money stresses him out)…”How much money would you like to try to save this year? We really need to start a tighter budget.” His goal is to save $10,000. This really should not be a problem (in theory), why?? because our only debt it the house. I am not bragging or anything at all, trust me, the reality is coming shortly. So with the no debt other than our house, everything should be good. RIGHT? Well, we were lucky or whatever way you want to look at it, that we were able to start a savings account while we were in Alaska while I was working and before we had children. Now, I am not working and we have an extra 3 mouths to feed, a few hundred a month more mortgage, a way more extravagant electricity bill, and blah, blah, blah…
So, being all excited to start working on the new budget, I sat down and ran the numbers today, to see where we need to cut back. Now, honestly we have not been working on a budget for the past couple of years that we have lived in this town. We paid our bills and have no debt so why worry?? Ok… WRONG!!! Now, I can easily find our spending habits because we do use a credit card. We never carry a balance, it is paid in full each month. We have been doing this for almost 7 years now, I have really made out on our credit cards by the perks that they offer. However I know that credit cards are not used this way by most people, but I can say that I have never paid interest, we only use this card, just like it was a debit card.
We did make extra purchases the past couple of months, with 4 birthdays and the major holidays, annual insurances due. This is a GREAT time to do a budget!!! Yeah right!!
So I when sitting down a few minutes ago, ran fast numbers. What did I find out about saving up an extra $10k? I found out that we WAY overspend. No, we are not negative, but we are pretty close. So, what do I need to do to cut back???? EAT OUT LESS!! Last month we spend 147.06 eating out. And buy from the grocery more practically, we spent $714 at the grocery. $610 in gas and fixing cars.
I know some of the spending is not normal for us. Such as the grocery bill, we had 2 birthday parties that we did cookouts for, and Sean’s family here for their visit and Thanksgiving. So there were a few extra mouths to feed, however… I still could have been a lot more practical on some of the food that I chose to purchase. And if, I would have put a budget together, maybe I would have stuck with it! As for the eating out…. I will just TRY… to cut out my… Papa Johns addiction. I am really bad…. when Sean has softball on thurs, I like to order pizza and wings for Me and the kids (I did bold ME for a reason). As for the gas and car bill… there should not be repairs very often, and the gas… well if I quit running out to the grocery almost everyday, that should help out a little. Then I am not going to even begin to count the other money, cause the only thing I can say is 2 birthdays and 2 complete bedroom sets for the kids. And this all equals…. WAY TO MUCH SPENDING.
So while doing this budget crunch. Sean’s wish for $10,000 in savings by the end of next year is supposed to be in addition to our current savings. This means that we need to save aprox $834 per month. Now, saying this we are adding when he does work a side job to this. So it is not really just his AF pay. So lets hope that he can keep the side job for a while!!
So now that I have been a bit forward in giving our budget or lack there of information. This hopefully will put my butt to gear at being a lot more practical in some areas. If you have any other suggestions for me, please feel free. I mostly just put this on here so that I will be reminding myself to meet our family goal for the year, if it is out where everyone can see maybe I will do WAY BETTER!