My Budget

I’ve been trying to come up with a sound budget. I know this is going to take some time with lots of trial & error. So I’m trying not to be too picky. I’ve been keeping track of all of my spending so far this month, which has been a lot – most of my bills are due in the earlier part of the month. I try to pay them first before I spend any other money, but so far this month I’ve gone kinda crazy on the grocery/household items category. However, since this is just a starting point I’m not beating myself up about it yet.

Budget – (this is just the estimated expenses not the actual)

Expenses

Utilities (Electric & Water) – 225.00

Phone – 160.00 (I have a share plan with my sibling, who currently isn’t paying their half)

Dogs – 70.00

Grocery/Household Items – 80.00 (Sort of low, but I live with my parents & sibblings, so I don’t have to cover all grocery expenses)

Credit Cards – 65.00

Student Loans – 275.00

Auto Loan/Fuel – 370.00

Investments – 40.00

Misc – 35.00

Expenses Total – 1320.00

Savings

Emergency – 100.00

Car Insurance – 80.00

Savings Total – 180.00

Grand Total – 1500.00

This based on a bi-weekly salary of approximately $750.00 (or $1500.00 monthly)

It may not seem like a lot, but I do contribute about $140 to my 401k & about $120 to my HSA before any taxes are taken out. Contributing to my 401k is very important to me. I want to make sure I have something to live on when I retire. Plus, the sooner you start investing, the more you could end up with.

1 Response so far »

  1. 1

    Hiya!. Thanks for the blog. I’ve been digging around for info, but i think i’m getting lost!. Google lead me here – good for you i guess! Keep up the good work. I will be coming back in a few days to see if there is any more info.


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