Need Help with Budget

[seaar2000]

Mortgage: 529.97

Car Payment: 265.65

Life4 Insurance: 28.31

Gas Bill: 108.00

Lights, water, sewer, and trash: Averages about : 60/month

Alarm for house (will be getting rid of in Sept): 19.99

AOL: 14.99

phone: 38.00

Gas for car for the month: 100-120.00

Grocerys: 200/month

allowance for youngest daughter: 20/month

cable: 50

Money from work after taxes: $1420.00/month

Money from housekeeping jobs: $80/month

CS: 625 a month, but oldest daughter may be moving in with her dad so at this point I would like to say $300 a month for child support

Usually work between 10 to 12 hours overtime each month. Have an EF of $1,000. Have $100 taken out every two weeks out of check that I don't even touch. This is saved for insurance tags, renewal of car insurance, birthdays, and for unexpected bills. The only credit card debt I have is $1240 (a dental bill) and is interest free until Nov. of this year. Getting around $3,800 back on my tax refund. Thinking about just paying this bill off and getting it out of the way. Also, I have them take out $50 every two weeks for my 401 (b). Would like to put this on hold tell I pay my car off, but since I started late in life with retirement I would hate to stop this. I am 47 yr. old this is one of the reasons I don't want to put the 401 (b) on hold.

I am very frugal to the bone so don't go and spend money like it's growing on trees. Would like if anyone can give me input on my budget. Thanks! Renee

[sweeps]

Your budget seems very reasonable to me. I really don't see where you could cut much.

I think you should continue contributing to your 401b. $100 a month, especially if that's pre-tax, is not very much. At 47, you've seriously got to concentrate on retirement. Do you get an employer match? Put in as much as you can to get the match and increase your retirement savings.

Your EF is a bit low. If God forbid you lost your job, it would only last a month or so. How about putting the $3800 from the tax refund in the bank. Don't pay off the dental bill until October so you can earn interest in the meantime.

Speaking of the tax refund, $3800 is a huge refund. I recommend reducing your withholding and putting that money to use in a savings account instead of waiting until the following April to get your money back.

[Fern]

Sweeps covered all the bases pretty well (as usual).

Only other thing i would add is that if you're looking for any adiditonal savings in your budget, i'd probably cut the cable back to basic and i'm guessing, unless you're in a rural area where it's expensive, trim the monthly bill in half.