What does your budget look like???

[MonkeyMama]

Being new to this site, I am just curius what everyone's budget looks like. I think people's finances are fascinating, as everyone's is so unique, and I just can't go up to people IRL and ask to see their budget - LOL. Though I Am lucky to get a feel for a lot of my client's budgets doing their taxes.

It just amazes me how many people I know making six-figures who live like they have nothing and how many people I know making 30k who live very well. As everyone's situation is so unique.

Plus being new to the board I would love to get a feel for where everyone is at. Are we all super savers, just starting out, in debt and digging out? Etc.

I will post mine later when I have a few minutes...

Oh - I would also love to see your old budgets compared to new ones, etc. if you have made financial changes. Or what goals you are working towards??

[Ima saver]

Well, I got married for the first time in 1965. I was young and had never lived on my own. I made up a budget on a piece of paper, based on how much I needed to put aside each week for rent, car payment, utilities, food, and misc. (Oh and savings first of course)
I just got a bunch of envelopes, divided up my money on payday and put the cash in the envelopes.
The first year I was married, we made $5000 for both of us, working full time.
I have never made more than minimum wage and my husband made low pay for most of the years we have been married.
I have always used the envelope method and to this day I still do. Of course, now I have a lot more envelopes for more catagories.

My budget catagories today are: savings, land paym. , car paym. car savings acct. (when I paid off the last vehicle, icontinue to save the payments) elev., telephone, water, garb., cable, blue cross, groceries, our allowances (includes gas), visa, prop tax, car and house insurances, misc., medication, heat, est. inc. tax, state inc. tax, term insur., medical account and christmas. That elev, should not mean elevator, but electric, sorry!!

I do not have a house payment because I paid my house off 30 years ago.

[MonkeyMama]

I am curious about dollar amounts or %s for different categories.

Here's my college budget - you'll laugh:

$1200/month income
( 400) rent
( 250) tuition & books/supplies
( 100) Gas
( 250) Estimated Taxes - self-employed
( 50) Utilities
( 100) Food
( 50) Clothes/Other Necessities
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This is off the top of my head from way long ago, but I wouldn't do anything different because I didn't have any debt coming out of school.

I was still covered under parent's health plan & I also ate a lot of meals at my parents and my boyfriend's homes. Free food goes a long way... Plus I worked extra in the summers and actually put money in IRAs and probably how I paid for car maintenance and such.

[lrjohnson]

This is my budget for September.
Emer./Big Purchase Fund $3.97
Savings $33.00
Rent $400.00
Household $40.00
Netflix $9.00
Electricity $75.00
Charity $15.00
Gasoline $25.00
Phone $9.00
Grocery $90.00
Ent./Rest. $23.00
Repairs & Tires $18.00
Car Insurance $55.00
Reg, AAA $13.00
Clothing $10.00
Internet $23.00
Cable $5.00
Health Insurance $43.00
Health - copay, OTC $40.00
Toiletries, Haircare $43.00
Gifts $15.00
Miscellaneous $1.00

I'm spending very little right now, see below, but this is an idea of categories. Since I'm spending so little, more than half my net is going into savings-the "savings" below is what I am saving withing my minimum wage budget.

[boefixepa]

I don't know how many people will just jump in here and detail it all out for the world to see. Some may not like to be so....open.

Here is the jist of mine

Edit - 1 person - 3 Alaskan Malamutes - 1 Cute Little Siamese Cat

Animal expenses - $110
Food - 70
Supplies - 10
Vet - 30
Auto Expenses - $175
Fuel - 90
Insurance - 40
Maintenance - 30
Tags - 15
Donations - $410
Gifts - $70
House Expenses - $1,560
Property Tax - 142
Insurance - 38
Maintenance - 40
Mortgage - 550
Helco - 750
Savings - $226
General Savings - 86
Vacation - 40
Tax Savings - 100
Household Expenses- $190
Cleaning Supplies - 40
Bulk/Food Storage 50
Groceries - 50
Eating out - 50
Medical Expenses - $40
Deductible - (already fully funded I don't add to it each month)
Doctor's Visits - 10
Perscriptions - 30
Misc Expenses - $110
Clothing - 50
Entertainment - 40
Personal Money - 20
Utilities - $209
Direct TV - 50
Subscriptions - 10
Gas - 34
Qwest - 35
City (Water, trash, elec.) - 80

Alright, if I added righ, that totals $3,100.00 my monthly take home pay before any bonus and such. My medical insurance comes out of my check so that not on here and this is just what I put into each.

I use the envelope system like Ima, only mine is vertual on the computer. This is what I add to each envelope each month. I also have certain minimum amounts I like to maintain in certain envelopes and will transfer money from savings if they were to fall below a certain amount. Just as I have certain max amounts and if it get over that it gets transfered into savings.

As you can see my focus is on getting my HELOC paid off and then that money will be rolled into my mortgage. Once the HELCO is paid off I will feel like I am really making progress!

[safari]

Net monthly income: $6,000
-----------------------------
Monthly Expenses
-----------------------------
Mortgage: $1,807
HOA: $274
Property taxes: $350
Car payment: $600
Car insurance: $100
Gas: $100
Cable, internet: $112
Food: $100
Misc: $50
Vacation/Entertainment/Big Purchase/Gift Fund: $600
-----------------------------
Monthly Savings
-----------------------------
Savings, mutual funds: $2,500
401(k): $1,040 (inludes employer matching)

[PrincessPerky]

sigh, I find my budget depressing

(rounded for even dollar amounts, cause I am lazy)

house 1000
car 300
utilities (gas, phone, electric, err.....whatever else is unchangable) 250
food/gas/fun/gifts/dr visit 450

but when DH makes good poker money we buy more food.

Ill go edit mine to put in 5 people 2A, 2 small kids, one toddler still nursing part time, charlotte NC no pets (K the cats out back but wed on't buy anything for them)

[disneysteve]

We do not have a budget for our spending - only for our savings. What is left after savings goes to spending.

We put 17% of my gross every 2 weeks toward savings. We put 78% of my wife's gross twice a month into savings. That money goes to fund our IRAs for $4,000 each, $300/month into taxable mutual fund accounts, $400/month into daughter's 529 plan and the remainder into money market and/or home loan principal payments.

Bills and general spending come out of what is left.

We are debt-free except our home.

[pearlieq]

Here's the basics for us (2 adults, no kids, 2 cats):

Groceries/Household Goods: $320
Utilities (power, phone, trash/water,cable/internet): $300
Gas Money: $400
Savings reserve for various irregular expenses: $590
Savings for travel: $225
Savings for future car replacements: $350
Mortgage: $1150
Savings for Property Tax: $580
Savings for Homeowners Insurance: $50
HOA: $44
Student Loans: $320
Medical Expenses: $100
Spending Money: $880
Roth IRAs: $666.66

The budget is figured on DH's salary. My earnings are kept off the books for budgeting purposes--they're used for extras and to beef up savings.

[Ima saver]

Here are my totals:
savings $600
land payment $660
car payment $800
car replacement fund $420
electricity $160
phone, dsl and cell $120
water-garbage $40
cable $40
blue cross $130
groceries $200
dh allowance $240
my allowance $480
visa $240
prop. tax, car and house insurances $400
misc. $80
medicine $80
Heat $120
term insur. $45
medical savings $400
christmas $120

My allowance looks big, but that includes gas, liquor, eating out, etc. My husband uses most of his allowance for gasoline.

[MonkeyMama]

Originally Posted by boefixepa

I don't know how many people will just jump in here and detail it all out for the world to see. Some may not like to be so....open.

I figured. That is why I waited to see if anyone responded or you all told me to buzz off - LOL.

Thanks everyone for playing./

[lrjohnson]

This is a kinda guilty voyeuristic pleasure. I look forward to lots of answers when I come back to the states.

Can I ask that people say how many adults/kids/pets? It helps put things in context.

My totals were for my half of a 2 person household. My Guy and I split expenses in half and keep money separate. So, Our rent is $800, I pay $400, etc.

[Ima saver]

Mine is for 2 adults, 2 dogs and 4 always full bird feeder, plus a few deer and groundhogs.

[MonkeyMama]

2 adults, 2 kids, a cat. California (Just as a side note because housing is crazy expensive out here).

4,950 Take-Home Pay
(1,300) Mortgage
( 650) Health Insurance (I turn 30 in December - eeks - this will RISE)
( 400) Preschool/Gymboree
( 350) Property Taxes
( 200) Personal loan. When paid in a few months, will go back to extra
$150/month to mortgage – pay off 7 years early
( 170) Car Insurances
( 120) Dental for 2 adults/Life Ins/Dis Ins (haven’t budgeted for kids
dental yet)
( 100) cable/internet – hubby’s luxury
( 80) Gardener (my luxury – I’ll work Overtime any day rather than do
yard work - hehe)
( 100)Garbage & Water – this is fixed – not metered (sucks)
( 100) Gas/Electric (bill is rarely over $50 but gets to 100/150 3 or 4
months of year so I budget flat 100)
( 69)Homeowners Fees
( 100) 2 cell phones + land line
( 500) Groceries (+ toiletries, diapers, formula, etc.)
( 300) Gas
( 50) Diaper Service (just got one kid out of diapers and only saved
$12/month – I miss the economies of scale)
( 100) Eating Out (gotta splurge once in a while…)
( 100) Miscellaneous (subscriptions, unexpected small things, etc.)
( 150) Entertainment (getting out, concerts, clothes, whatever we want
that month. Or forego if need be.)
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**Employer contributes 10% of my pay to profit sharing plan. Fully vested.

Our taxes are pretty even but usually get around $1500 back from state & I get a decent overtime bonus every May. So that money we use for emergencies/IRAs/savings. Plus we make a little extra money here and there, as other things arise. Pretty breakeven.

We plan to switch to a high-deductible medical plan on my birthday. New rates are not out yet but currently it would be $350/mo. vs. $700/month. We would put the $350 savings aside for medical emergencies/deductibles. This is the part of the budget that my pay does not really keep up with me and blindsided me when we had kids. It is ridiculous. Someday my hubby will get a job just for the health benefits probably, it would save us a TON!!

I thought we were pretty frugal with our groceries, but maybe we could do better. We shop generic, clip coupons, eat-in 95% of the time it feels, no junk food, but this is one area I Want to tackle and get down our bill. This site has inspired me.

I know we could give up a lot more, but after years of living on a shoestring sometimes I Feel you gotta just live a little. IT's certainly a balance. I am working on putting $100/month in a high-yield savings. It's a start.

[Elgin526]

For 2 adults and one dog:


Debt reduction $800
Mortgage (taxes and insurance included) $1400
Cells (both) $113
Phone $35
State Farm (my car insurance and life) $181
DH's Truck $483 (not my idea...)
Truck gas $425 (long commute and bad MPG)
Truck Insurance $143
Storage unit $100 (going away after this month!)
Prescriptions $50
Water $20
Electric/Gas $200 (average total for both)
Cable/Internet $113
Netflix $15
My car $0 (paid off, baby!)
My gas $120
Food $400
Houshold stuff $40 (cleaning products etc.)

That's what our base pay covers. Extra's like vacations, home improvment, eating out, gifts, etc. come out of Tim's overtime and my year end bonus and are budgeted monthly, depending on how much we get.

[Thrifty Ray]

This is for 2 adults + 1 teen + 4 labs. The satellite and electric also include usage for my parents.

3480 combined income
-1450 mortgage
-68 satellite
-100 electric
-630 Freedom account- includes ins, medical, clothes, savings, etc.
-48 union dues
-120 Christmas Account
-15 Birthday Club
-400 groceries- which also includes all household supplies
-49 phone
-60 cell phones
-320 DH allowance- gas, tool purchases for work, and entertainment
-80 my allowance- gas and free money
-80 DD3s allowance-must pay for lunches, activities and friends gifts
-60 dogs

0

[Fizgig]

Okay, I'll jump in.

Single girl, two small dogs, making about $3300 net a month.

760 Mortgage
100 Entertainment
60 Food : Dining Out
180 Food : Groceries
70 Personal Care
40 Pet care
50 Household
65 Bills : Cable/Satellite Television
170 Bills : Electricity
50 Bills : Online/Internet Service
60 Bills : Student Loan Payment
35 Bills : Telephone
30 Bills : Water & Sewer
85 Automobile : Gasoline
60 Insurance : Automobile
600 Savings : Emergency Fund
500 Savings : Home repairs, taxes, insurance
200 Savings : Splurge Fund
3,115 Total Expenses

There are some cateogies that are suspiciously missing, but I use my savings for them. Healthcare comes out of the emergency fund, and clothing or other purchases come out of my splurge fund. I don't feel like shopping every month, so I save it up so I can go on a hell of a spree without regret. I also save in my company 401k, but since it's not net income I don't count it.

[amberfocus]

This is the budget I'd like to stabilize at once everything settles down.

BTW, I live with a roommate, but I pay for just me. I graduated from college earlier this year, so I'm just starting out.

Gross monthly income: $2600
Pre-tax 403(b) deduction: $525 (20%)

Monthly take-home pay: $1700 (ish?)

Household expenditures:

- rent: $500
- groceries: $60
- utilities (split w/ roommate)
- cable modem: $23
- electricity: $25
- natural gas: $30
- cellphone: $10 (family plan)

Debt:

- student loans: $133

Misc.:

- union dues: $40
- health/dental/life insurance: free
- transportation: $20

Savings:

- Roth IRA: $333.33 (auto-transferred in weekly installments to Vanguard)
- emergency fund: $200 (auto-transferred once a month; goal: $5K)
- house fund: $50 (auto-transferred once a month)
- car fund: $200 (auto-transferred once a month; goal: $3K)
- savings buffer: remainder

I am living exclusively on my current job's income. It's a little tight at the moment, but it keeps me on track.

I do have a separate subaccount with money that I saved during high school and college, as well as some money from my father. It's there in case I go red, but otherwise, I don't touch it. That sum is earmarked for mutual fund investments once I reach my emergency fund goal.

In actuality, my 403(b) hasn't kicked in yet, I'm deducting $170/week ($700/mo) for my Roth because I only started this month and need to catch up for this year, I only paid $275 for rent total in the past two months because I'm living on a living room futon until my room frees up in October, and my father refuses to let me pay for my cell phone. Oh, and I might put my car fund on hold.

But you get the general jist of the situation.

~mimi

[PrincessPerky]

Ill go edit mine to put in 5 people 2A2 small kids, one toddler still nursing part time, charlotte NC no pets (K trhe cats out back but we on't buy anything for them)

[pearlieq]

Sooooo...looks like I'm the libertine here .

Just kind of confirms my suspicions that we could do better. Maybe I'll have to sit down this weekend and tinker a bit. And then see if I can get my good-time Charlie (ahem, I mean my DH) onboard!

Very interesting idea for a thread. Thanks for playing, everyone!