Monthly Budget Jan 2014
Monthly budget, let’s do this.
This month I included the Jan budget and recap, plus Feb budget.
Please see below for another round of explanations.
Download the same Google Doc monthly budget spreadsheet that Carrie and I use!
(This post explains why we post our budget.)
|Budgeted (Jan)||Actual (Jan)||Difference (Jan)||Notes||Budgeted (Feb)|
|NET Income||2600||2966.94||366.94||See below||5520|
|Church giving||230||280||-50.00||See below||280|
|car registration / title / tax||300||723.45||-423.45||See below||0|
|Car Gas / Oil||400||349.68||50.32||See below||400|
|Car Insurance||316||315.66||0.34||See below||0|
|Car repair||250||403.68||-153.68||See below||200|
|Wifi Hotspot||160||286.72||-126.72||See below||150|
|Violin / Music||40||0||40.00||40|
|Left overs||-2321||-4900.87||See below||-891|
Carrie and I had total expenses of $2896.00 that will be paid back to us, some with cash and some through Carrie’s paycheck. I mention this if you are wondering why we “outspent” our paycheck again. (Last month we bought a car with cash from our savings account.) The reimbursements through Carrie’s job will appear as income in the next few months. Several hundred dollars will be given to us as cash which will not show up on our budget at all. However, our cash withdrawals will appear artificially low during the month of Feb as a result. Make sense? 😉
Our Dec income ($9627) was the highest of 2013 and will be the highest for many more months to come. Jan income was “artificially” low (I got paid in Dec for some work that normally would have been part of Jan income.) Feb 2014 income will bounce back again to a more normal range.
We are filing our taxes in Feb and I really don’t know what to expect. Carrie and I both earned the largest amount of 1099 income during 2013 than any year before. We paid quarterly taxes as advised by our accountant, so we will see. We also cashed in some investments in early 2013 to make it through the rough patches. When I cashed this investment out, I paid a large amount to the Fed in anticipation for tax season. (I over paid.) I wanted to get a large return rather than having to pay more taxes out of pocket. We shall see, stay tuned next month.
Giving: Carrie and I increased our monthly church giving by $100/mo.
Rent: Yup, zero. No, we do not own our house. See last months budget for explanation.
Cars: Cars are a b!tch.Cars are a liability, even if you don’t have a car payment. We own both cars. Cars break down. Cars cost money. Cars are always more expensive than you think they will be. So plan for it. Carrie and I are temporarily living 10 miles further away from where our house is. This is adding around two or three (maybe four) hundred more miles a month to our lives. Makes me miss the good ol days when we didn’t have a car at all.
Grocery: Our grocery bill is something we are taking a closer look at. We just go to the store and grab stuff, we really don’t plan or watch prices. Carrie bought over $100 of food for a freezer-meal workshop. That food will be about 25% of everything we eat in Feb. Our Jan grocery bill looks artificially high and Feb grocery bill will be lower as a result.
Investing/Retirement: We are investing 10% of Carrie’s paycheck, pre-taxes. We have several investment accounts and might post that info in a quarterly report, stay tuned.
BABY!: YAY! Carrie and I are soooooo excited for this lil boy or girl to come along. We are due April 2nd. The $1700 is half of what we are paying our midwife. A very high percentage of this cost will be reimbursed through Carrie’s paycheck, we will simply include that money as income when it comes in. (This is part of the $2896.00 that is coming back to us later on)
WiFi: Yeah, crazy. We aren’t living in our house right now, so we needed to get some Internets, fast. I have to download and upload large files for my audio production night job. It is what it is. My justification: As long as we are living rent free, any extra we spend as a result that is lower than what our rent would be is a bonus.
Gift: The Gospel community that Carrie and I are a part of was able to help a family get out of a jam. It is a long and beautiful story. God is good and He used our group to do a good work. (This is part of the $2896.00 that is coming back to us via cash. We fronted all of the money and are being payed back with cash from several people.)
Left overs: Again, it appears like we are overspending like crazy. We aren’t. Getting paid early in December instead of January is partly why this looks crazy. Buying a car in Dec made it look like out-spending our paycheck too. And of course, the $2896.00 that will come back to us makes it all look much better and more realistic.
Feb budget says we will again out-spend our paycheck by $891. At least $1700 of that will show up in Carrie’s paycheck in the next couple months. We also expect a large tax return. So, stay tuned for the Feb recap.
Another day, another dollar.
How is your budget coming along?
-Derek, Carrie, Amelie
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