Preparing First Budget

**Nellonello** · 01-12-2011, 08:22 PM

So my husband is finally in agreement that we need to budget and we are starting DR FPU tomorrow. I have started putting together a budget to discuss with my husband and would love some input (Good and Bad!). What other categories would you recommend and where do you think I should cut?

Income: 11,500
Mortgage: 4080 (includes escrow, property tax and HO insurance)
HELOC: ~390
HOA dues: 25
Electricity/Gas: 240
Water/Sewer: 110
Trash: 49
Car Payment: 370
Car Insurance: 137 (2 drivers/2 vehicles)
Cell: 67 (for 2 of us)
Phone/Internet/Cable: 203 (required as in home office, $100 reimbursed by company)
Child support: 480
Child care: 1320
Food: 500 (family of 5)
Education: 370 (contracted with state GET account)

**Contrary Housewife** · 01-12-2011, 11:58 PM

Vehicle property tax. Vehicle maintenance, gas, oil changes, repairs.

Lawn and property maintenance -- even if it is just $20 to put gas in the mower it has to come from somewhere.

Entertainment: movie tickets, dvd rental, books, club fees, whatever you guys do.

School: children's sports, uniforms, lessons, tutoring, after school, class supplies, etc.

You have nothing listed for clothing. You have kids.

**Desmend** · 01-13-2011, 01:22 AM

Should add a Misccalenous expense thing to your budget . Mention it as a saving in the need of any kind that may happen in future .
You should debit an amount to that saving every month .

**Nellonello** · 01-13-2011, 01:27 AM

Originally Posted by Contrary Housewife

Vehicle property tax. Vehicle maintenance, gas, oil changes, repairs.

Lawn and property maintenance -- even if it is just $20 to put gas in the mower it has to come from somewhere.

Entertainment: movie tickets, dvd rental, books, club fees, whatever you guys do.

School: children's sports, uniforms, lessons, tutoring, after school, class supplies, etc.

You have nothing listed for clothing. You have kids.

Thanks, these are great suggestions.

Clothes were left off as I have bags of clothes for the kids in the next few sizes so won't need anything for a couple of years.

School: I am thinking I could allocate $25

Entertainment: We try and do a lot of hiking and outdoor (free activities). I think we could start with $50.

Lawn/Property: We live in a brand new house still under warranty so I won't need much in this in the short term. Our yard is tiny and we have an old push rotor motor (so no gas). Maybe $20 so that we can buy mulch or flowers come summertime.

Gas and maintenance I do have on my paper list (just forgot to type) at $150.

**dcompton** · 01-13-2011, 01:47 AM

Health insurance - is this payroll deduction? Do you have a payroll flexible spending account for OTC meds, first aid, co-pays and such? If not, you need to allocate some for that.

H&B (health and beauty) and household cleaning supplies

I always had a category Household Non-Consumable for the small things I would need occasionally for the house - new kitchen towels, a new skillet, decor items, storage containers, clothes hangers - that sort of thing.

Office supplies, including postage

Gifts, holidays, charitable donations