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Last night's budget meeting results

Last night's budget meeting results

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  • Dopey406 Dopey406's Avatar 09-01-06 | 09:50 AM
  • Okay, so we had our budget meeting last night. Here's how it played out:

    I paid the following bills:


    Then we had Sarah's preschool orientation, at which we paid her first month tuition, a supplies fee, and a book bag fee:


    We made out our list including the following:

    Groceries: $130
    Gas: $50
    Diapers: $15
    Misc: $20
    Dining: $30
    Laundry stuff at Sam's: $20
    Andy's haircut: $15
    Sarah's school stuff: $20
    Labor Day weekend: $40

    This total is $340, which I will cash a check for today and disperse into those envelopes.

    We also needed to make an insurance payment of $220 (we pay our car insurance in three installments of $220 in Aug, Sept, and Oct each year).

    We bought new checks online for $20 and purchased a new anti-virus software online for $30.

    This left us with abot $200. We decided that instead of putting $150 toward the debt this half, we'd put that toward the insurance, so next month's last payment would only be $70--and with Andy's 12% raise coming through, we'd be able to make at least $1200 toward our debt.

    So I made a $370 payment to insurance instead.

    Andy called me from work this morning and said that his muffler almost fell completely off on the way to work this morning. He'd been having some problems with it and it's under warranty because he'd gotten it fixed a couple of years ago and it has a long warranty. So it was one of those "we'll-get-around-to-it" deals.

    Well, now it needs to be done. So we backtracked and instead of paying the extra $150 to insurance, we're going to get that out for the repair on his car. If we have to dig into our emergency fund(which we don't think we will), we can. We have left ourselves a $50 cushion in the bank, even after this, so if we need a few extra dollars, we'll have it.

    So there you go. We'll only have $50 in our checking account after all is said and done, but we'll have everything we'll need to survive and thrive for the next two weeks until he gets paid again.

    Our next budget meeting is always the more exciting one because we don't have to pay the mortgage out of it, so we get to make a big payment to debt.

    So stay tuned for the next intstallment of Murphy Family Budget Meeting!
  • ~Kelli~ ~Kelli~'s Avatar 09-01-06 | 09:54 AM
  • thanks!!!! you really are on the ball!

    I was chatting with DH last night and mentioned that for groceries (where i ALWAYS overspend needlessly) I'm going to start taking cash monthly for that-- and start there with an 'envelope'.... he loved the idea
  • Dopey406 Dopey406's Avatar 09-01-06 | 09:55 AM
  • Great start, Kelli!!!
  • ~Kelli~ ~Kelli~'s Avatar 09-01-06 | 09:58 AM

    you've inspired me

    Once we get used to that then i'll focus on some other areas-- as I'm 'dangerous' with cash-- I want to get back to debit, but i want to get myself used to it first-- to really seeing how much we spend, or need to spend, ykwim?

    We do a great job investing (each boy has a 529, we have mutual funds we contribute to quarterly-- bc of the commissions-- no debt, an insurance plan etc), and saving, have an emergency fund, etc--- but i just want to be more aware of where the $$ are going and I have a feeling we could be investing lots more.
  • savannah33 savannah33's Avatar 09-01-06 | 10:00 AM
  • You are so organized it just amazes me.

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