April 2014 Budget (With March Recap) Olsen Monthly Budget


April budget, let’s do this!

As always, read why we post our budget.

March / April 2014 March Budget March Actual Difference April Budget
Income Total 5,540 5,410  -30 7,430
Church giving 280 280 0 280
Giving 0 30 -30 50
Gifts 100 10 90 50
Rent 0 0 0 0
Gas bill 190 0 190 150
Electric bill 115 115 0 115
Water bill 40 73 -33 0
Google fiber 70 70 0 70
Direct TV 78 80 -2 78
Cell phone 145 134 11 145
Grocery 450 541 -91 400
Restaurant 150 100 50 100
Cash withdrawal 300 300 0 300
Car tag / title / tax 0 0 0 0
Car gas / oil 260 304 44 250
Car (Geico) 50 0 50 50
Car repair 100 0 100 100
life insurance 55 55 0 55
Student loans 255 255 0 255
Taxes 300 1,125 -825 1,000
Household 40 0 40 40
Health 40 40 0 40
Medical 20 20 0 100
Baby 500 227 273 500
Maternity/newborn pics 333 333 0 333
Clothes 50 30 20 50
Entertainment 100 47 53 100
Braces 256 0 256 256
Education 40 33 7 40
Conference ticket 0 0 0 0
Wifi Hotspot 210 210 0 210
Business 800 100 700 1,000
other 3 0 201 -201 100
Creative Financial 18 18 0 18
other 1 100 27 73 100
other 2 0 84 -84 100
Total Spending 5,445 4,842 603 6,435
Income – Spending 96 568 473 995

 

March recap:

  • The only thing what was crazy this month was Taxes. As I said last month, we didn’t really know what to expect paying taxes this year. Carrie and I earned the largest amount of 1099-taxable income ever. We went to H&R Block to get our taxes did (yeah that’s right… did). Our H&R rep worked his magic and reduced what we would have owed from $4,000 down to less than $1000. ($1,125 was our tax bill total plus the H&R fee.) Our rep was able to do this by doing a bunch of business expense deductions. Carrie and I both work from home when we do any of the 1099-style work, so he used our home office as a business expense. Basically, he saved our ass. It was well worth the price we paid to have our taxes did (yeah that’s right… did). We plan to pay a little more each quarter this year to avoid a large tax bill in 2015.

April budget:

  • Our income will jump up a little for April. We should be getting $1500 back from Carrie’s work via HSA/health insurance to reimburse the cost that we have already paid for our babies delivery.
  • My income went up just a little for March (I get paid a month out so it will show up in April).
  • We plan to pay $1000 for Q1 taxes.
  • Another $333 for delivery/newborn pics! (Yes, we are that proud, already!)
  • We set aside $500 for medical, just incase.
  • Paying another $1000 for business expenses. This should be the last time for a few months. We have a few products in the works that will start producing a positive profit for our business (Better Conversations).
  • Even after all of that, we should end the month +$995. And if things go smooth, we could end the month +$1500.

Misc:

  • During May, our income will drop down again to around $2000 – $3000. I am losing a little work and Carrie’s paycheck will go down some while on maternity leave. Fun stuff!
  • Our net worth actually went up by $5,690 this month!  Carrie became vested in her work stock investment plan. (We release a full net worth report quarterly, stay tuned for 2nd quarter report.)
  • April will be the last $256 payment for braces.

-Derek, Carrie, Amelie


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