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2014 Budget

13K views 57 replies 26 participants last post by  Anna43 
#1 ·
Its that time of year again to start plotting, planning and praying on my 2014 budget. I've been reviewing bills, making changes to reduce them where possible and generally looking at everything with an eye to the new budget.

We've changed TV carriers which will reduce our bill by $30 to $40 for 2014.

I've changed my medical insurance policies which will save me $62 + $25 each month and potentially more minus $147 per year new deductible.

I've not renewed several magazine subscriptions.

I keep close track of our spending on a monthly basis so I'll average the year for each catagory and use that as a starting point for the new budget. Then I'll factor in changes up or down that I know are in the works for 2014 and hope/pray it all works out.

I've picked up some extra income this year by continuing to go into the office to train but that's pretty much at an end. I'm thinking after January's special reports I'll not be going in again so no extra income for 2014.

I'm open for any ideas or suggestions.
 
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#2 ·
We're doing the same thing too....
In Feb. the contract w/ the electric company will expire & we'll switch to a company that has lower rates...same for the phone in April. We have 3 insurances on our house, we are going to review them & maybe we can drop 1...or 2. We plan to finally pay off our car loan with the tax return and then we can drop the auto insurance to basic liability/underinsured motorist....and we are thinking of selling our van & going down to one vehicle...that will also save on insurance/maintenance/gas. That's about all that I can think of....along with trying to cut back on utilities, trying not to waste anything,and have more no-spend days
 
#3 ·
My goal is to increase our "savings" contributions to 20% of our income. Right now we're at 5%. I'm planning on accomplishing this by focusing on a different budget category each month. Last month, I started closing in on groceries. I created a price book, dabbled in couponing, stockpiled on sales items and I'm keeping a freezer inventory (I need to do the same for my pantry.) I'd love to get to the point where we average less than $400 a month (for 2 adults & 3 kids 5 and under). Right now our average is sitting at $486 a month.

This month I decided to tackle our phone/internet services. I ditched my smart phone, cancelled my land line & replaced it with Basic Talk (which uses the internet). Those changes are going to save me $120 a month.
 
#4 ·
With hubby's new benefits package we'll see an extra $100 taken out of each paycheck. I think his 401k contribution is going to go up another 2%, too. We're also thinking about getting DD a smart phone for Christmas which will increase or cellphone bill. You're right, I need to start looking for other areas to cut back.
 
#5 ·
Love reading all this great ideas as I gear up to work on our budget. The one thing that has been such a blessing is having savings taken out automatically on a regular basis - definitely need to keep that going strong!
 
#6 ·
I did a new budget for 2014 for many reasons. First I got a new job and will study part-time instead of full-time. I'll then have more income each month but I promised my bf to pay him a monthly rent when I'll no longer be a full-time student. I also got rid of all my debts in 2013 so I'm focusing on saving as much as I can for the next years (without compromising on enjoying life a little ;) ).
 
#8 ·
I do look forward to the New Year. It's a time of renewal.
I have been sick but am starting to feel better. Time to work on my house.
I am gulten and dairy intolerant so my food budget is all messed up. I spend way to much on food but we never eat out!
I need to really save money for new garage doors and two windows.
 
#9 ·
One of the things I need to do most is to stay away from EBay....I spend way too much money there. I also need to limit my time on the Internet, so that I have more time to organize my house.
 
#10 · (Edited)
I am making a push to finish some education to change careers. I am on ssdi and can finish spring semester without working. I lose some excellent health perks with 100% coverage for a lot of useless care and drugs that I am required to tolerate. My last two semester study attempts have involved useless dead end jobs that keep asking for more and more hours affecting my studies badly. I see a future of 30 more years of this at least tolerating employee-eating employers and constant govt threats to cut ssdi pension.

Thisdecision will require much effort to change my spending/ eating comforts as I continue to deal with chronic, untreatable health complaint that is debilitating to many. I must make this work.....otherwise every person who abused me to the point of a nervous breakdown to keep their family sex abusers busy with strangers will have won.

These screwed up people are never far away and make appearances frequently to get their jollies. This kind of story is not uncommon with some wealthy families with sex abuse practices financially supporting their predator childre while these monsters just entertain themselves doing anything they wish while the cops/courts turn a blind eye to it all. Some of the restraining order courts have a frequent flyer club for these defendants - legal aide denied to plaintiffs, court advocates lie to victims, no legal information for victim to prepare her case resulting in many dismissals of cases, days of missed work when orders are violated and cases lost result in defendants' record wiped and no way for victims to research their abuser's other victims.
Even cross country move will have towns' crazies bothering victims withIn a few days - called gang stalking. Some of these abusers will fly across the country repeatedly to bother a victim without any protection from any of the authorities. Many police depts will try to silence these victims by ordering nuisnces to forced mental care resulting in loss of employment and filing for SSSI.

This scam is ramped in us.
 
#11 ·
Our general budget will not change much, but I recently sat down to plot out our savings goals. Always seems like too many things to save for, not enough money to save! But having a plan helps to change that.

I too am nervous to see how hubby's paycheck is reduced in '14, by taxes or health insurance costs. Word has it, his employer will not be providing any insight into the plans offered until summertime, so not much to do about it until then. DD, 5, will be in school full time as of next Sept, so while it's still a while away, it's time to start thinking about what I'll do then. Work from home more, or get a part time job? I'm hoping to stay home still. I'm happy to work, but I need the flexibility to be there for the kids when they're sick as we have no family/friends nearby in a position to help when they cannot attend school, and hubby gets no paid sick days.

Before we know it, it will time to handle taxes, either planning what to do with a refund, or planning how to handle an amount owed. Something to think about, if you may fall into category #2.

Side note- I put an extra $320 or so into our escrow account this past year, in dribs and drabs. Sure am glad I did! Just got a copy of our tax bill, and it's increased this current bill. We paid less than $100 more to make up what might have been a shortage otherwise. It will still go up to reflect the tax increase, but this is better than having to scrape up $4xx when the bill comes or face the mortgage increasing even MORE.
 
#15 ·
I have reduced the electric bill $100. a month
-Ds left for the army
-shut off the lg. freezer
-Dh works away sometimes
-new refridge

The cell cost went down
-dad passed
-making Dmom and DD get their own
-I am studying what phone I should go to

I went w/ a new diabetic meter and the strip are covered by ins.
=so $37x a least 4x=$148.

Decided to swallow my pride and accept gas money from Dmom as travel all over to her appts.

Going to check into mixing cat litter w/ something like a cheaper cat litter.

Not paying for any college this yr.
Ds is totally under Army medical and dental,will buy his own clothes and such,phone too.

2 of our cats are 16 this yr. and we will watch their health but as the pets age-it's a luxury we wont replace.

Bought all my dogs arthritis meds for the year on clearance for 25% of the cost and then found coupons.

DD will have her friend cut her hair in exchange for babysitting favors. I am doing $12. cuts at Meijer salon. DH is doing Fantastic Sams w/ coupon.

I am strtching the oil changes to 4 months instead of 3 thereby dropping 2 changes between the 2 vehicles.

Going to pay 2 more bills online saving 12x2=24 stamps.
Going to pay the garbage service for a whole yr. too saving 2 more stamps.
Ds can be called now saving about 2 packets of stamps. We both have unlimited calls

Going to take out a loan to move the CC Interst to 7% instead of 17%. That will save $1000.

Going back to cooking at home more. And paying cash when we do go out. Puts a lid on things.
 
#17 ·
Frugalforever...We did dump our cable last year, and then we moved...and couldn't get any antenna reception at all. Hubby begged it back and it's one of the only things he truely complains about, he loves his sports. He works hard and is on board with a lot of frugal things, so I figure it keeps us home instead of out spending money.
 
#18 ·
I just had the best budget meeting ever with DH. He has a lot of good ideas for what we can cut back on, and how we should prioritize in 2014. One of the most radical changes will be taking the kids out of after school care. That will save us $700/month. The food, transportation, clothes. and all other categories got cut too. If we manage to pull this off, we will get rid of student loan#1 before the end of the year.
 
#54 ·
Halfway through the year, and we have paid 40 % of what we owed on student loan #1 in Dec-13. It will be a strech to make the remaining 60 % in 6 months, but maybe... I have 50 hours in travel time that I can cash out in July, that helps.
 
#20 ·
Tami-just being me.lol but your compliment was a nice suprise

Too funny
Dgreat Dane has had surgery on both knees and vet said no sleeping on the floor. I garbage picked a crib mattress in excellent shape from a neighbor.
Found 2 sheets (1 in pkg.) and a blankie for $1.50 ea. So prob. solved for $4.50 YEAH!!

Dson always gets Sams Club hot choc. from me for Christmas.
This yr. I found private selection powder on clearance. $1.79 for 14oz. So I got cherry cordial,double choc. and sweet mint. I should be able to vaccumn seal 2 packets of ea. and put it in one of the boxes I keep in storage that I got for $2. and 90% off at the end of season at Big Lot. $13. or $5.50? if I use all of it.
Just found choc. raisins 12oz. for $2.49 and same containers for DH.
These arent main gifts but they are the ones that bust our budget.

hit S.A the other day and found a roof rake (for heavy snow in case southerners are like huh??) I paid $5.99 and they run about $40. so i am dancin'.
I also bought a zebra "snuggy" for $4. I am exploring if DD can make pj bottoms w/ it.

DD has been making Amer. girl doll inspired clothes for doll and min quilts that match the dresses. I was proud she got a ton of "stuff a bag" fabric for $5. She is raiding my estate sale thread and using velcro and ribbon saved from blanket we bought for Christmas.

Ds will come home for Christmas and get some of his clothes. He has very little storage space in the army. I decided to hit the S.A. and get him a backpack and small wheelie suitcase. He can use them and either sell them to another soldier or redonate them to S.A. Worth the small expense to NOT pay the airlines $25. for carry on or feel obligated to store them in tight space.

Found glasses to read w/ for $5.88. I had been buying the pkg. of Costco 3/$20.ish but they have popped lenses consistantly. Walmarts are sturdier. Beats $20. at the eye dr. for Readers. Always grab eye glass cases at G. sales for .10-.25.

Ok Awesome-DH got a work phone and its one of the huge new ones. His work wont pay for the $50. case and neither would we. Walmart eyeglass concesstion had a case for $3. and we will stuff computer spongy packing foam in there to pad it.

Not giving it up this yr. people!! on the war path.
 
#22 ·
WEll Anne
I am keeping track but have gone WAAAAAy off the $1500. mark. To start w/ Ds's ticket home is just less than $700. and I got a deal on an embroidery/sewing machine for $700. w/ $1200. off. (DD is trying to start a business)
I can honestly say that nothing I bought is junk,frivolous,or trendy.

DD is sewing like a champ this year. She is buying sale remnants for next to nothing. She bought her Dbro an inflatable airline pillow and made a cover and drawstring bag for about 6.00 w/ the pillow costing $5.
 
#25 ·
I spent most of this afternoon adding up and averaging 2013 expenses to have a starting point for 2014's budget. In 2013 we overspent on medical and miscellaneous. All other categories were either on or under the budgeted amounts. I managed $187.91 as my monthly average for food so my budget of $200 will remain unchanged for 2014. I increased medical by $50 and miscellaneous $30 for 2014. I budgeted $600 a month for medical last year and we went over that by $311 each month. I've decreased some medical insurance premiums so I'm hoping that the $50 increase for medical will be sufficient. I have a lot lumped into misc. so the increase of $30 is needed. However, we need to pay more attention to what we're spending in that category to be sure we stay within the budgeted amount. We've been careless this year.

When I added everything for 2013 I was off $18 for the year. I'm guessing I have a transposed number somewhere, but I'm not going to waste time looking for it. I can live with $18 difference since I don't have to account to an auditor!
 
#26 ·
New budget is set up.

Change Jar (New, smaller clothes) $34.85/$500.00
Grocery Budget $120.00 every 2 weeks

(includes: food, cleaning and laundry supplies, paper products, HBA, cat food and litter)
Gasoline $40.00 every two weeks
Medicine $100.00 every two weeks
Contributions: $60.00 monthly
Household (house payment, gas, electric, cable, Netflix}: $644.00 monthly
Quarterlies: (water, sewer, trash) $60.00 monthly
Car insurance: $42.00 monthly
Cell phone card: $40.00 monthly
Haircut, deep conditioner, eyebrows, shampoo: $50.00 monthly
(this is in the budget, but gets used for other stuff most of the time)
Small amount left for miscellaneous

Budgeted savings goals: {$50.00 each)
52 week money challenge (Christmas 2014): $52.00 /$1378.00 in a year
Emergency Fund: $150.00/$1000.00 to begin, eventually $5000.00
House repair fund: $50.00/$1000.00 to begin
Car repair fund: $50.00 /$1000.00 to begin
Medical expenses $0.00/$1000.00
Dental expenses $0.00/$1000.00
Funeral expenses (pre-planned) $0.00/$6000.00
New flooring in home $0.00/$3000.00
Car replacement fund $0.00/$1000.00 down payment
Major appliance fund $0.00/$3000.00

Financial goals:
1. Get EF to $1000.00 ASAP
2. Payoff ER visit ASAP
3. Replace front storm door $120.00
4. Paint accent walls 0/5 (most paint is bought)
5. Paint house trim and porches by fall of 2014 {porch paint bought}
6. Lose 1 pound per week (less food, and hopefully less meds eventually)

Talked to mortuary staff today, then to dh.
As a vet, my "space" is "free" to me, as well as the marker.
dh said he doesn't mind being buried with me. The vet
spaces are "stacked" and they will do the marker with both
our info. Going to go with the least amount that I can for me,
he has to worry about his own (he has insurance thru work).
I put an arbitrary figure and will try to figure it up soon.

It sure has helped for me to sit down and actually plan
what I want to do, so much better than flying by the seat
of my pants.

Next step is to research money-saving things to bring down
gas, electrical, internet etc. After that, will be deciding on goals
of what is going to be purchased.
 
#27 ·
I really need to revamp my 2014 budget. We got spend crazy last year, and I actually have credit cards debt first time in many years. I live with my boyfriend, and 2 kids ages 15 and 11, and we cannot agree on cable ($116 a month with internet) being cut, but i cancelled netflix and did not renew any magazine subscriptions. The kids got itunes gift cards for Christmas and they need to either get free apps, or only spend what they have on itunes, no more from me. I am selling back my school books to amazon for a credit there, to use for Christmas next year. We also have a family cell phone package ( $210 a month!) through Verizon, but bf has iphone, while we have simple phones. Want to look and see how to cut that down, seems ridiculous! Have call into insurance company to ask about car/home/life insurance policy I have through them to see if I can cut down at all.

I kept my Roth IRA the same as max for me, I am self employed so this is important to me as no matching from employers. I need to pay off my credit cards, and then start saving each month. My timeshare I bought a few years back will be paid off in a few months, and will need to find out how to sell our weeks, also take money I was paying on that a month and pay on my mortgage.
 
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