Olsen monthly budget Sept 2015

Oh, hey there…

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Here’s our budget for Sept 2015.

Discussion points below.

Total Income 5000
Monthly Expenses
Church offering 100
Cash Withdrawal 200
ALL debt from debt sheet 453
Rent 800
Electric 40
misc
Incidentals 30
books
Netflix 7.99
TV / Internet 120
Cell phone 120
Grocery 300
Restaurant 100
Car Gas 400
Car repair / oil 200
car ins 163.62
life insurance 60.33
Amazon 40
Hair Cut 30
Dental Humana 64.47
Childcare 100
Health insurance 181
Medical 75
Entertainment 150
Clothing 25
Insurance
Gifts 40
Giving
hers
his
Flex jobs 0
Baby 40
Misc
Business 50
Misc 200
Unexpected #3 250
Total spending 4340.41
Subtract Total Spending from Total Income 659.59


The Good

After 5 months of failing to do a budget (and spending more than we were making) it feels SOOOOOO good to be heading in the right direction again.

Three months of budgeting and three months of positive net worth gain. Go figure!

We had a good August (and should have a good September) on both sides of the equation.

  • Income is going up: Carrie continues to take the voice over world by storm. She gets hired almost every day. She had two big wins recently plus lots of small and medium wins that add up to a lot of money. She will receive around 6k in earnings in Sept alone! Carrie is also launching a new part of her business to teach other people how to get into voice acting. This part of her business has just as much potential as the actual voice acting. Check it out if you are interested! Carrie Olsen Voice Over Guide.┬áLot’s more coming from Carrie’s VO business in the next couple of months. She has a few big events coming up that will put a really big spot light on her and her business. And the best part is she LOVES IT!
  • Expenses remain low: August was a rock bottom month for spending. We only spent $2191.29 TOTAL! That’s pretty damn good. We will spend a lot more in Sept (budgeted to spend $4340.41) but we will still earn more than we spend, so it’s all good.

The Struggle

Each month is so different. Our income bounces around like crazy. August income was $2113.17 and Sept will be over $5,000. It’s crazy to have your income double and then get cut in half so often. It’s almost like we get paid every OTHER MONTH. I mean really, that’s crazy!

It makes budgeting feel a little less helpful, but in reality it makes budgeting MORE important. And because our income has been so irregular for almost a year now I’m starting to get used to it. The good part is it forces us to spend as little as possible every month no matter what, so in the long run it should actually make us stronger.

For now we are back to paying only the minimum on all of our debts. And even though me make progress each month it’s much slower than I would like. We plan to open a separate savings account with $5,000 for an emergency only fund. We need a bigger than normal e-fund because of our crazy irregular income. Then we will start aggressively attacking our debt again.

The Future

Everything looks pretty good moving forward.

We have really good control on our spending. When our income goes up it makes everything easier.

We have chosen to go down this crazy entrepreneurial path so that we can be in control of our income and make as much as we want. Obviously if we can start making 10k or more each month we can be debt free in less than a year.

10k (or more!) a month is actually within reach. Carrie is bringing in at least 6k this month and with just a few more good jobs she could easily bring in 7k (or more!).

Derek&Carrie.com and our books and articles are starting to make a little more $$$ too.

What about you? What’s good? What are you struggling with? What’s the future look like?

-Derek, Carrie, Amelie

 

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  • http://jasonpockrandt.com/ Jason Pockrandt

    Hey Derek, thanks for this. Such a cool idea. I just hear about carries vo work on a random podcast scroll few nights ago. Now that I actually have an idea of your story I plan to buy your book. I’m excited. Your story and some of the adventures you two have had resonated a lot with me and my wife and our new daughter. First child 11 months old. My wife just left her job to come raise her and build our youn living essential oils business with the desire for freedom and fulfillment. It’s interesting your comment about choosing the entrepreneur path. My coach recently reminded me that I choose the hard way to make $40,000 a year IE being an entrepreneur. However Chandra and I just re started FPU last Sunday and intend to start back the budget to crush 2016 and our debt and savings goals. Would love to stay accountable with you guys and any of your readers that want to join us. Keep in touch. Merry Christmas to you and your family.