Confused about the money...

**Lady_V** · 08-23-2008, 07:49 AM

That felt good!

Our only 'big debt' is the mortgage and my car. The mortgage and condo fees are paid automatically so we usually don't include that in our budget.

Our only other bills are the 'normal' monthly bills, utilities, insurance, etc. No evil CC. Learned that lesson a while back.

We recently started a 401K which is automatically taken out of his bi-weekly paycheck.

I'm not sure what I am asking for... except maybe for help getting on track to buy the things we need and eventually have a nice nest egg.

**Lady_V** · 08-23-2008, 01:35 PM

Okay... thought I'd toss this out there to see what can be done...

Expenses

Car Payment -- $250
Car Insurances -- $195
Gas -- $300

Mortgage -- $500
Condo Fees -- $325
Electric -- $80
Vonage -- $32
Cells -- $95
Cable/Internet -- $60
Laundry -- $27

Food/HBA -- $300
School Lunches -- $45

His Money -- $160
My/DD Money -- $40 (by choice)

________

Needs--
Fridge -- $400
Bed -- $ 600

Right now we have no EF... none... *poof* every time we get a penny saved something comes along and picks us dry.

As you can see, we have no major major debt... but we also have no savings. I'm not a complete blockhead, I can admit when something isn't working. Whatever we are doing now is paying the bills... and that's about it.

I've read the books, I understand the concepts, I just need some guidance as to what the hell to do

Thanks in advance

**Cricketlegs** · 08-23-2008, 02:27 PM

It is kind of hard to figure without income money totals.

Frankly, your numbers look low. Not much room to lower anything.

DO you have anything left at the end of the month that could go into EF or if you feel the need, the snowball?

**Lady_V** · 08-23-2008, 02:41 PM

Sorry... we have a monthly of no less than $3251 and no more than $3400

That's the thing. We have money left over... for about a month, and then something comes along to claim it. Last month is was car repairs. I know I am doing something wrong.

**Cricketlegs** · 08-23-2008, 02:58 PM

Let me do some math--brb

**Cricketlegs** · 08-23-2008, 03:03 PM

Okay I am showing you as having $842 extra in your budget with the income being $3251 and the outcome being $2409.

Is that correct?

**Cricketlegs** · 08-23-2008, 03:07 PM

If I am correct, then how about a halfsie--$421 on the debt snowball meaning the car and $421 in savings to catch the whatevers that happen until you get an Ef you are comfortable with.

When you get the EF where you want it start adding more to the snowball. Knock the car out and get started on college for your dd or your retirement or even go on to the house payment.

**ladykemma2** · 08-23-2008, 03:14 PM

any pets? predictable vet bills?
predictable or reoccurring yearly doctors visits /copays -pap? mammogram? school physical?
eyeglasses? optometrist?
school clothes?
school supplies?
tuition?
recurring/yearly dentist? cleanings?
how much do you spend on christmas?

how much have you spent on car repairs for the past two years , including new tires and brakes.
how much for oil changes?
how much for car insurance?
how much for car registration?
how much for car smog inspection?
how much for toll road ez tag?
(new car fund)

escrow (property taxes,school taxes, taxes/insurance?)
how much for trash?
home maintenance (take the past two years divide by 24)
home owners association?
flood insurance
termite contract
a/c heat maintenance-- the every 6 months thing?
sewer? water?

heating oil? propane?

income taxes? state income taxes?

computer upkeep virus software renewals, etc.
(computer replacement)

**Lady_V** · 08-23-2008, 03:26 PM

any pets? predictable vet bills? -- DD's cat, ex pays for shots
predictable or reoccurring yearly doctors visits /copays -pap? mammogram? school physical? $25/copay for me $0/DD
eyeglasses? optometrist? $25/copay for me $0/DD
school clothes? uniforms -- already purchased ($100/year)
school supplies? -- purchased ($15/year)
tuition? -- gift from outlaws
recurring/yearly dentist? cleanings? -- $0 copay
how much do you spend on christmas? -- $200

how much have you spent on car repairs for the past two years , including new tires and brakes. -- $1200
how much for oil changes? -- $240 year
how much for car insurance? -- $2100 year (listed above)
how much for car registration? -- 90/year
how much for car smog inspection? -- $58/year
excise taxes -- $105/year
how much for toll road ez tag? n/a
(new car fund)

escrow (property taxes,school taxes, taxes/insurance?) paid with mortgage
how much for trash? included in condo fees
home maintenance (take the past two years divide by 24) included in condo fees
home owners association? $325/mo (already included above)
flood insurance -- don't own
termite contract -- included in condo fees
a/c heat maintenance-- the every 6 months thing? -- included in condo fees
sewer? water? -- included in condo fees

computer upkeep virus software renewals, etc. -- we use freeware
(computer replacement)

**ladykemma2** · 08-23-2008, 03:32 PM

how do you heat your house?

is the number above your "take home" pay?

if the interior of your house breaks or an appliance does the condo fee pay that?

you don't have a sewer or water bill?

**ladykemma2** · 08-23-2008, 03:34 PM

how much for clothing for daughter? shoes?
yourself?
spouse?

**ladykemma2** · 08-23-2008, 03:36 PM

how about for the eyeglasses themselves?

eyeglasses? optometrist? $25/copay for me $0/DD

**Lady_V** · 08-23-2008, 03:51 PM

how do you heat your house? -- included in the condo fees

is the number above your "take home" pay? yes, after taxes and 401K contribution

if the interior of your house breaks or an appliance does the condo fee pay that? -- depends on the cause of the damage. I pay for appliances.

you don't have a sewer or water bill? no, included in the condo fee

how much for clothing for daughter? shoes? $100/year. She wears uniforms to school and I thrift shop her play clothes.
yourself? I haven't had the need to buy myself anything yet
spouse? same, he has a uniform for work (given to him by employer) and he has not outgrown or worn out his current clothes.

how about for the eyeglasses themselves? we don't wear them, but if we did, they are covered under our insurance