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Discussion Starter #1
I already posted that I wasn't sure about putting this out there. But, I need to. Seeing the numbers in black & white like this makes me nauseous. I think of all of the money we wasted each month just because we could......uuuhhhhgggg.

DH's income is variable, so we'll be redoing our budget each month based on income. Also, our budget runs from the 8th - the 8th.

I'll start with our debt:
Moving expenses: $10,000 (this isn't actually debt yet, but we're treating it as such and saving every penny for it so we'll hopefully not actually go into debt when we move - make sense?)

DH's Truck: $14,000
My Suburban: $18,000
HELOC: $46,000

We have three mortgages on top of that (primary home, rental home & raw land).

According to our debt snowball (on paper). The moving expenses should be paid off Dec '08. The truck paid off May '09. The suburban paid off Sept '09 and the HELOC paid off Oct '10. 3 month's living expenses saved in Jan '11. DH's income is highly variable and this is worst case with no overtime, extra flying, etc....in all honesty we'll probably be able to shave 3-6 months off of this.

Now, for Aug's budget. These numbers are grossly inflated as we didn't want any surprises. We'll get them nailed down to more realistic numbers over the next few months.

Total Income: $9335 (this includes income from DH as well as rental property)

Cell Phones: $65.00
Home Phone (including internet): $90.00
DH's crashpad (home away from home): $230.00
Storage Locker: $97.00
College Account for boys: $200.00
Mortgage 1: $1750.00
Mortgage 2 (rental property): $695.00
Mortgage 3 (raw land): $900.00
HELOC: $224
Suburban: $611
Truck: $425
Gas: $350
Groceries: $800 (its what we've always budgeted, I usually only spend about half that)
DH's Trip Money (food while he's on the road): $400 (he's been really good about packing his food and his goal is to keep it around $100)
School Clothes: $50 (this is not a monthy expense, just for Aug)
Dinner's Out: $150 (one family dinner out, one "date night" + sitter)
Ben Movies: $25 (He's having a "daddy day" they've been planning for months)
Yard Saleing, Fabric store, etc...: $100

TOTAL: $7262

SAVINGS: $2073 (this will go towards moving expenses ~ see above)
 

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All seems fine and dandy but both you and your DH have gas guzzlers.... anyone to downgrade 1 or both of your "trucks" to a economy car?

I am a bit envious, I wish we had that much income coming in each month but maybe someday.... DH and I want to get a rental property but of course we couldn't afford it right now.

You also mention your grocery budget at $800 but only spend about half, that means an extra $400 towards moving expenses + DH's lunch as well.

Any reason why moving expenses are $10,000? That just seems like a heck of a lot of money. Where are you moving to?
 

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Jessica, I can deal with those numbers....
but it seems like there's alot of "in between" stuff that not listed
~water, cable, electricity, taking the kids out to McDs when daddys been gone cause they are driving you crazy...????? what you mean I;m the only one?!?!?!?!
 

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Discussion Starter #4
Jessica, I can deal with those numbers....
but it seems like there's alot of "in between" stuff that not listed
~water, cable, electricity, taking the kids out to McDs when daddys been gone cause they are driving you crazy...????? what you mean I;m the only one?!?!?!?!
Nope, you aren't the only one! :)

Can't believe I left off electricity. We completely missed that the other night! That runs about $120/month. We don't pay for water, we're on a community well and its included in our Home Owner's Assoc. fees ($120 every Jan). We don't hit McD's very often, but I usually include that with groceries since I have so much wiggle room there. We don't have cable.
 

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Discussion Starter #5 (Edited)
All seems fine and dandy but both you and your DH have gas guzzlers.... anyone to downgrade 1 or both of your "trucks" to a economy car?
We are looking into getting DH a motorcycle to ride back and forth to the airport and I'd sell my Suburban. The problem is that no one is buying gas guzzlers right now! :) (and we'd have to see if DH's suitcase will fit on a motorcycle)

You also mention your grocery budget at $800 but only spend about half, that means an extra $400 towards moving expenses + DH's lunch as well.
Yes, anything extra will go into savings.

Any reason why moving expenses are $10,000? That just seems like a heck of a lot of money. Where are you moving to?
We're moving a mobile home onto raw land. The $10,000 includes the cost of the mobile home, the cost to move it, the cost to clear the land, put in a septic and have utilities hooked up, permits, etc.... When its all said and done it'll be around $20,000. We already have $10,000 saved up and we're trying to save as much as we can to pay cash as we go.
 

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I want to wish you the best on your move, and savings! I find it easy to write down but I never seem to save what I write down???! I think its great you had meeting about it, and I just read other thread you posted and think its great you posted this. Thank you. And maybe now you wont feel so bad about money/bills since you two are doing it together?? I hope not. (hugs)
 

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Regarding the mortgages - our intention with our rental property is to treat the income from the unit as an independent financial entity. (That's why we formed an LLC, after all.) Our property is 2 units, and the rent from 1 will nearly cover the mortgage, so #2 is mostly gravy. We will be saving up 6 months of expenses with it first, then paying down the mortgage more quickly with that rent.

*IF* we pay off our primary home before the rental, or IF we burn thru the rentals EF for some reason and have no tenants (really BAD year, obviously), then and only then will we put our non rental income towards the rental property.

I'm curious, what are your plans for your investment mortgages?
 

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i notice you forgot stuff like

school startup
trash collection
water/sewer
oil changes
car maintenance and repairs
gas bill (natural gas)
computer license renewal
internet
hoa
car registration
car inspection
annual doc/dentist visits
home maintenance and repairs

edited to add: what would happen if you stopped funding the kids education while you do the debt snowball? That's a different baby step.
 

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Regarding the mortgages - our intention with our rental property is to treat the income from the unit as an independent financial entity. (That's why we formed an LLC, after all.) Our property is 2 units, and the rent from 1 will nearly cover the mortgage, so #2 is mostly gravy. We will be saving up 6 months of expenses with it first, then paying down the mortgage more quickly with that rent.

*IF* we pay off our primary home before the rental, or IF we burn thru the rentals EF for some reason and have no tenants (really BAD year, obviously), then and only then will we put our non rental income towards the rental property.

I'm curious, what are your plans for your investment mortgages?

She has pestered me for two months to join the board, here I am. If I disapear call the athoraties. DH to jamauk. I didn't even know what DH meant until recently.

Our intentions with investment property #1. Is to supplement college costs for our kids. We are probably slightly behind and not cathching up fast enough with the 529s for them alone to pay for college. I am secretly hoping, one of them atleast, is stupid like me so we can save some money down the road.

Property #2. I would not call an investment property. It is just a house we can not sell at a favorible price in this market. So Rent for two years a nd reevaluate. Hopefully sell into a better market.
 

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i notice you forgot stuff like

school startup It is in the budget she posted at $50
trash collection We pay every 3 months, no bill in Aug
water/sewer we are on well/septic
oil changes None du in Aug
car maintenance and repairs None planned EF if needed
gas bill (natural gas) None just electric
computer license renewal ????
internet All in the phone bill
hoa Paid once a year in jan $120
car registration N/A
car inspection N/A
annual doc/dentist visits Flexible spending account at work
home maintenance and repairs EF non planned

edited to add: what would happen if you stopped funding the kids education while you do the debt snowball? That's a different baby step.
As to stopping the 529 contribution. We did roll the 401k contribution back to 5% of my pay from $1300 a month. My company matches 5% so we want to capture all of that, they also place an additional 5% guaranteed profit sharing in the same account. Not completely in line with the DR plan but the reduction did free up around $8000 a year. The $200 monthly into the 529 would not speed up the snowball enough to realy make a differance.
 

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As to stopping the 529 contribution. We did roll the 401k contribution back to 5% of my pay from $1300 a month. My company matches 5% so we want to capture all of that, they also place an additional 5% guaranteed profit sharing in the same account. Not completely in line with the DR plan but the reduction did free up around $8000 a year. The $200 monthly into the 529 would not speed up the snowball enough to realy make a differance.
Thats what we did also when we were in debt pay off mode. I couldn't see not taking the free match.

To the original poster~ do you have any pets that need to be in that budget? I know mine sure need their own column in the budget.
 

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You know this probably could be posted on a bunch of different threads. I may post this then move on from the board. Part of me feels like I am intruding on something that is my wifes.

Since the original post revolves around my income I felt this is the place to post this.

I may speak in gereralities but this absoulutley does not aply to all. It seems like their is a general attitude of jelousy and resignation when people are looking at anthoer persons income, when it is higher than their own. I still believe in America, and that we all can controll our fate a lot more than some believe.

I was a captain for a major airline at the age of 32. Most people assume I had a greased path and lots of help. College degree, dad that was a pilot etc. HAHAHA.

I was kicked out of high school and ended up with a GED. I had to go back and get a "real HS diploma" to join the army. Decided I wanted to be a pilot. Sold cars to earn money for flight training.

Finaly got hired to teach people you wouldn't want driving how to fly. Two years making less than $1,000/month. Hired at an "airline" One more year making less than than $1,000/month. Second year pay as an airline pilot? Almost $18,000.

Lots of sacrifice. rented rooms in houses, to sleep. Slept on a single mattras on the floor with no other furniture and four roomates my first year as an airlinepilot. Bought top ramen by the case ( I still remember 6 for a buck was a good deal ).

I suppose my point is anybody could have done what I did. And ended up in the same place. I am affraid lots of people have forgot what it means to work hard towards a goal.

Not meant to offend, hopefuly people realize we are all the same with very similar issues.
 

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I may speak in gereralities but this absoulutley does not aply to all. It seems like their is a general attitude of jelousy and resignation when people are looking at anthoer persons income, when it is higher than their own. I still believe in America, and that we all can controll our fate a lot more than some believe.


Lots of sacrifice. rented rooms in houses, to sleep. Slept on a single mattras on the floor with no other furniture and four roomates my first year as an airlinepilot. Bought top ramen by the case ( I still remember 6 for a buck was a good deal ).

I suppose my point is anybody could have done what I did. And ended up in the same place. I am affraid lots of people have forgot what it means to work hard towards a goal.

Not meant to offend, hopefuly people realize we are all the same with very similar issues.

Kuddos!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Your post goes very well with a few posts I've made in other threads. Thank you for making this point!!!!!!!!!! I believe every single one of us regardless of circumstances has the power to better ourselves, financially, mentally, physically and spiritually. We just have to actually do it!:teddy2:
 

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I can't see where I'd tweak anyting in your budget. It looks good from my understanding.

It's kinda weird seeing it in B/W isn't it? BUt from where I am sitting it looks like you have thought it through real well.
 

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Discussion Starter #15
You know this probably could be posted on a bunch of different threads. I may post this then move on from the board. Part of me feels like I am intruding on something that is my wifes.

Since the original post revolves around my income I felt this is the place to post this.

I may speak in gereralities but this absoulutley does not aply to all. It seems like their is a general attitude of jelousy and resignation when people are looking at anthoer persons income, when it is higher than their own. I still believe in America, and that we all can controll our fate a lot more than some believe.

I was a captain for a major airline at the age of 32. Most people assume I had a greased path and lots of help. College degree, dad that was a pilot etc. HAHAHA.

I was kicked out of high school and ended up with a GED. I had to go back and get a "real HS diploma" to join the army. Decided I wanted to be a pilot. Sold cars to earn money for flight training.

Finaly got hired to teach people you wouldn't want driving how to fly. Two years making less than $1,000/month. Hired at an "airline" One more year making less than than $1,000/month. Second year pay as an airline pilot? Almost $18,000.

Lots of sacrifice. rented rooms in houses, to sleep. Slept on a single mattras on the floor with no other furniture and four roomates my first year as an airlinepilot. Bought top ramen by the case ( I still remember 6 for a buck was a good deal ).

I suppose my point is anybody could have done what I did. And ended up in the same place. I am affraid lots of people have forgot what it means to work hard towards a goal.

Not meant to offend, hopefuly people realize we are all the same with very similar issues.

Thankfully he was done with all of this before I married him! :) (but I would've still married him anyway!)
 

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She has pestered me for two months to join the board, here I am. If I disapear call the athoraties. DH to jamauk. I didn't even know what DH meant until recently.

Our intentions with investment property #1. Is to supplement college costs for our kids. We are probably slightly behind and not cathching up fast enough with the 529s for them alone to pay for college. I am secretly hoping, one of them atleast, is stupid like me so we can save some money down the road.

Property #2. I would not call an investment property. It is just a house we can not sell at a favorible price in this market. So Rent for two years a nd reevaluate. Hopefully sell into a better market.
Hey! Welcome to the board, angrypuppy! Nice to have more men on here!

We've been following the story of property 2 for a while now - that's gotta be frustrating. Still - in a year or so the market should turn around again. It always does, right? :)
 

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Welcome to the Village Angrypuppy. It is great so have you join us. I am wife to Greebo and yes, even though it felt a little odd to me when he joined the Village it really turned into a great thing. I enjoy reading his posts... no nonsense type of poster that he is. I hope you are willing to stay, lurk if you must but you are always welcome here. It isn't often we have couples here and I am beginning to see where it adds to the group as a whole (as well as enhancing my personal relationship with Greebo). We have two sides to the same story to share and where another villager might be able to relate to my side of the story, they will surely gain insights thru his side of the story as well.

Welcome!
 

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I love that there are couples on here posting-it really shows how much easier it is when you are working together to reach a common goal.
Welcome Angrypuppy!
 

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What is this? I can't figure it out.
regrading the computer license renewal, it when your virus software ( or whatever) runs out and you have to renew and update it. i have three programs on my computer that i budget 150 per year so no surprises.
 
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