July Monthly Budget and June Recap

Money, Marriage, and Monthly Budgets

2014 is half over, WTF!?

Here is our June recap and July budget. As always, this is why we post our monthly budget.

Item Budgeted (June) Actual (June) Difference July
Income Total 1,965 2,015 50 1300
Church giving 280 280 0 280
Giving 50 0 50 50
Gifts 50 0 50 70
Rent 0 0 0 0
Gas bill 50 41 9 40
Electric bill 100 0 100 150
Water bill 40 40 0 50
Google fiber 30 27 3 30
Direct TV 82 82 0 200
Cell phone 150 144 6 140
Grocery 350 585 -235 400
Restaurant 0 86 -86 0 (CASH)
Cash withdrawal 200 200 0 0
Car tag / title / tax 0 0 0 0
Car gas / oil 300 261 39 300
Car (Geico) 600 567 33 0
Car repair 100 19 81 100
life insurance 55 57 -2 57
Student loans 255 255 0 255
Taxes 400 0 400 400
Household 40 96 -56 150
Health 40 70 -30 60
Medical 500 1,059 -559 200
Baby 200 0 200 150
Cosmetics 0 13 -13 15
Clothes 50 80 -30 200
Entertainment 100 34 66 100
other 0 0 0 0
Education 40 0 40 30
Cleaners 0 58 -58 0
Wifi Hotspot 120 150 -30 20
Business 0 0 0 0
ID Guard 18 0 18 18
City of Independance 18 15 3 0
Post office 100 24 76 20
Lawn care 0 0 0 150
TOTAL 4,318 4,242 75 3635
Income – Spending -2,353 -2,227 126 -2335

June ups and downs, mostly downs…   Sort of…

The two major expenses where car insurance and medical.

Car Insurance: We have Geico (which we love) and we pay twice a year, so June is a big month for that. No big deal really, it’s just one of those things that comes around twice a year. Just gotta be ready for it, that’s all.

Medical: We paid the final three bills from the birth of our first baby girl. Worth every penny plus a million dollars more!! We actually still have some insurance money coming back to us soon. Not sure how much it’s going to be yet but that will help.

June income was down because Carrie was still on maternity leave.

We cashed in some of one of my retirement accounts. Yup, things got rough and we did what we had to do. With the birth, me losing some audio production work, and Carrie being on maternity leave, it was like a perfect storm. So, instead of stressing and possibly running out of cash, we decided to grab some money from our future-selves.

We took out about $14,000, paid $4000 in taxes and penalties and put $10,000 cash into our bank account. Crazy thing is, we are still UP about $4,000 for the year on the old net worth.

Actually, the story is a little more complex…

We are going to use some of that money to produce a few products for our business. It’s more like an investment than just cashing in and spending it. We are working on a project that includes a book, workbook, and audio book!

I shouldn’t say too much right now. We should probably see something by the end of the year. (HINT: Working title = “One Bed, One Bank Account.”)

Make sure you are signed up to our newsletter to get all the details.

In the long run, this will be a small blip on the financial radar. It feels wrong to have cashed in so much money, but that’s the way it goes. It was our money anyway, so that makes it feel a little better.

See, we don’t do everything perfect. 😉

July will be another down month for income. Our income will bounce back in August.

We just gotta hang on one more month and things will be back looking better.

How about you?

-Derek, Carrie, Amelie.

Amelie gives this months budget a 6 out of 10.

Screen Shot 2014-07-09 at 7.23.19 PM


-Derek, Carrie, Amelie

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Why do we post our financial information online? Answer.

  • CanadianBudgetBinder

    Budgets will always have ups and downs but the important thing is to try and be ahead of the game so we are prepared. I post my budget and net worth each month as well. Even though we would like it to be perfect it’s not. We have good months and months that things pop up that weren’t expected so cash comes out of our emergency savings. How much does it cost to have a baby where you live? Mr.CBB

    • http://www.derekandcarrie.com/ Derek C. Olsen

      MR. CBB-

      Our situation was a little different than some.

      We had a home birth. It wasn’t covered 100% like a hospital birth would have been. (Carrie has health insurance at her job.)

      We paid about $4200 out of pocket and then got about half of that back from insurance and HSA.

      We also had another $1200 in hospital bills when Carrie had to go get some stitches after the delivery.

      All in all we paid about $3200 out of our own pocket for everything.

      Also, you are right, even if you do a budget it’s not going to be perfect.
      There will be ups and downs. There is only so much we can control. But, it’s sooooo much better than not having a plan at all.


  • Alison Troutwine

    Derek and Carrie,
    Great blog and podcasts! And Amelie is absolutely precious. Congratulations! I’m a new reader so I’m sorry if you have already covered this but what about daycare? Is this in your monthly budget? We live in KC and pay about 20% of our take home income (for 2 kids) for daycare. It is worth it but a big piece of our financial picture for the next few years…

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