Family Budget questions / feedback

[Treyekh]

I'm looking for some collective feedback and opinions on budgeting amounts.

With a disposable income of (after bills, mortgages, loans etc, and non-negotiables), we have left to budget per month: $2442.

Personal Allowances (each): $150 / $300 total
Groceries: $440
Entertainment: $150
Gas: $250
House Stuff: $250
Pet: $75
Gifts: $50
Baby: $450 (due date April)
Debt Repayment: $250
Summer Trips we have to attend: $227 (Weddings of family etc)

I've left off the other 75% of the budget categories that are fixed non-negotiable such as bills, utilities, and/or services we pay for that can't be changed. All conversation regarding those aside, do the numbers above feel relatively on par? Inappropriate? Thoughts?

[disneysteve]

With a disposable income of (after bills, mortgages, loans etc, and non-negotiables), we have left to budget per month: $2442.

Personal Allowances (each): $150 / $300 total
Groceries: $440
Entertainment: $150
Gas: $250
House Stuff: $250
Pet: $75
Gifts: $50
Baby: $450 (due date April)
Debt Repayment: $250
Summer Trips we have to attend: $227 (Weddings of family etc)

I've left off the other 75% of the budget categories that are fixed non-negotiable such as bills, utilities, and/or services we pay for that can't be changed. All conversation regarding those aside, do the numbers above feel relatively on par? Inappropriate? Thoughts?

Can your provide more info? What does "Personal Allowances" mean? What does that money cover? How many people are being fed for $440/month? What is "House Stuff"? What is the "Baby" money being used for?

It would also help a lot to see the complete budget. I don't know what you mean by "bills" but there are very few things that aren't adjustable or negotiable and it's kind of hard to evaluate a budget when we're only seeing a portion of the big picture.

Also, tell us about the debt. What type of debt? Outstanding balance and interest rate?

[autoxer]

I've left off the other 75% of the budget categories that are fixed non-negotiable such as bills, utilities, and/or services we pay for that can't be changed. All conversation regarding those aside, do the numbers above feel relatively on par? Inappropriate? Thoughts?

You'll find lots of different opinions on how much gets put towards each category, but ultimately it will come down to your own values. I don't spend that much on gas or baby, but the other categories are similar to my budget.

I also think this is too narrow a view to make judgements. If you are swimming in high interest debt, then it wouldn't make as much sense to spend so much on allowance, entertainment and house stuff, but if that is just low interest debt and you are saving an appropriate amount towards retirement, then it seems more reasonable.

And don't assume that the other 75% of your budget is fixed. Although they may be more difficult to change, there may be a circumstance where your values shift and then you decide to make those bigger changes. I've successfully slashed many other costs from my budget, including car payments, utility bills, insurance, mortgage interest and cell phone costs. So if you are brave enough, then post the whole budget and you'll get a much better analysis.

[Eagle]

Can your provide more info? What does "Personal Allowances" mean? What does that money cover? How many people are being fed for $440/month? What is "House Stuff"? What is the "Baby" money being used for?

It would also help a lot to see the complete budget. I don't know what you mean by "bills" but there are very few things that aren't adjustable or negotiable and it's kind of hard to evaluate a budget when we're only seeing a portion of the big picture.

Also, tell us about the debt. What type of debt? Outstanding balance and interest rate?

@Treyekh Welcome to the forums!

I agree with Steve.

1. We need a complete budget. Typically you can negotiate car insurance, cable/satellite, Cell phones...

2. List your debts, balances, and interest rates

I'd add to this list:

3. What is your household monthly income?

4. How much do you have in your A. savings (emergency fund), B. retirement accounts (401k/403b, pensions, Roth IRA, Traditional IRA, etc.), and C. investments (mutual funds, stocks, etc.)?

This thread will only be as useful as the information you share. The more information the better people will be able to answer you. Welcome again!

[disneysteve]

3. What is your household monthly income?

4. How much do you have in your A. savings (emergency fund), B. retirement accounts (401k/403b, pensions, Roth IRA, Traditional IRA, etc.), and C. investments (mutual funds, stocks, etc.)?

I wasn't even thinking about savings. Very good point. How much is reasonable to spend on discretionary stuff is highly dependent on the big picture. Do you have a 6-month emergency fund? Are you saving at least 15% of your gross income for retirement?

We aren't trying to be difficult Treyekh but it's really impossible to answer your question with only very limited information.