OK so I am actually kind of terrified to do this post. I am one of those people who really knows and fully understands how a budget works but does that mean that I am any good at keeping one? Yeah, absolutely not. In fact I am the best at coming up with excuses and rationalizing spending extra money. You are about to learn a whole lot about me so I hope you are ready! Learn from my mistakes and let’s get ourselves out of debt together!
First is what my husband and I expect to bring home after taxes. My husband works full time at a factory and I clean houses. Earlier this year I had a lot more cleans but a department moved for a local company and literally took over $1000 in my income with it. So needless to say I don’t make much right now. Andrew will bring home around $1700 and I bring home around $500. So $2200 to start. Could be much worse.
Our housing and utilities is a very unique situation. On my parents property there is a 2 story shop that we have over time converted into a guest house of sorts. In exchange for us having done all of the work with some assistance from my dad into converting it and putting out the money to do it we get ridiculously cheap rent. Yes I really do mean ridiculously cheap rent. Rent, water and electric I keep at $500 a month to balance out the months that electricity is a bit more expensive or is cheaper. We put in a wood stove and go pick up the free wood from craigslist to burn and heat during winter. It really helps keep the cost down!
Guess who has only 11 months of car payments left?! That’s right! This girl! We only have one car and make sure to go and keep it up to date on oil changes and such to keep it running well. Eventually we want to buy a second car but that will pry happen once we have finished paying off this car. $330 a month goes to the car payment. Fortunately I had negotiated for my loan to be able to be paid off early without extra fees. If you are looking at paying off your car as fast as possible then make sure to check your contract.
Car insurance has been something that we did some serious shopping around on. I found a great little local group that actually are insurance agents for a bunch of companies. Every 6 months they look around to see where the cheapest insurance for what I want/need can be found and notify me to find out if I want to switch companies. This has saved me a lot of money. We do full coverage and pay $125.
We only have 1 credit card but it has a lot on it. Sometimes things just get a bit crazy and life throws stuff at you but you just have to go with the flow. Currently we owe around $4000 on it and instead of the $150 that it wants each month I am paying $200.
Creditors are the bane of my existence. Remember how I said that I suck with money? Well if you have read anything about my past I got into legal trouble and at the time literally everything went to creditors. Did you know that your bank account can go to creditors? Yeah…. Mine went to 2! Currently I pay $300 a month to creditors to slowly get out of that bout of debt. Woot woot!
Along with the bank account my phone that was on a contract went to creditors so my hubby and I decided to stay contract free. We use straight talk phones and have ones that use verizon towers still for only $75 a month. Yes, both of us put together are $75 a month! We get free phones from their website and it’s saved us from overdraft fees and overages.
Getting internet to our little home was quite an ordeal and of course we constantly get calls from our company asking us to add on a home phone and TV services but instead we just stick with our internet which is $50 a month and Hulu and Netflix which add on another $20 a month. Plus we bought a ROKU a few months ago and there are lots of extra free channels on that which make it difficult to get bored.
This month is kind of an unlucky month for us with extra bills so we have the inspection and tag renewal as well as the taxes of our car. Could be worse but is still kind of a pain in the butt to do! $150
Credit Card $200
Car Taxes $150
Total Left = $400
So this month we have $400 left to do all groceries, gas, and extra’s that we need. Thankfully we don’t have kids yet so we don’t have the extra cost of Halloween stuff this year but hopefully soon we will! Our gas will pry take around $100 if we don’t drive extra so $300 for 2 people for food is totally doable!