March 22, 2013

Budgeting for Expenses

I always like seeing how other people budget their money, so I wanted to share what our monthly expenses budget is like:

Mortgage - $470
Extra Mortgage Payment - $50
Electric*- $250 (all electric house, no gas)
Condo Fees - $110
Water Bill* - $60
Internet - $48
Netflix - $8
Cell Phones* - $150
Car #1 - $204
Car #2 - $187
Preschool* - $685
My student loans - $108
Groceries*: $500
Gas*: $200
Extra Miscellaneous Expenses*: $250 - This is for anything extra that we don't pay for on a regular monthly schedule - prescriptions, gifts, co-pays etc.

* On bills that vary each month, I tend to over budget for them so that if they come in higher than normal, we're prepared.  They usually come in lower so the extra money also gives some padding to the budget just in case something unexpected comes up that is more than the $250 allotted for miscellaneous expenses.




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