August 14, 2014

Re-evaluating the Budget Part 2

In Part 1, I re-evaluated some expenses that we needed to start budgeting  more money for and I prepared a budget for our 1st paycheck's of the month.

Today, I'm budgeting our Rental Check Money.  Our tenants pay $825 per month.  I had under budgeted the insurance bill this past year so I'm bumping up the money that goes towards that and the condo fee is going up to $125 a month (used to be $110).

  • $400 Mortgage
  • $125 Condo Fee
  • $30 Insurance (10 months until the next bill is due for $291).
  • $60 Bumper Bowling League (Cost is $6 per week per child plus a couple extra dollars to buy donuts at the bowling alley for breakfast.)
  • $55 Water Bill (Usually under $50 but has been as high as $76.)
  • $30 Repay My Savings 
  • $30 Repay Mr. R's Savings (still owe each of our savings $206 for money I took out for the down payment when we purchased the condo.)
  • $95 Repair Fund for both condos (Right now we have $1190 in the repair fund.)

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