For reasons that are unknown to both my husband and me, we have less money deposited into our checking account from his paychecks than what is needed to run the household (we have a portion deposited into savings and the balance goes to savings). Even with our bare bones budget, I have a shortage in the checking account of at least $1,000 after the $ is deposited into checking. I'm not sure why it's set up like this. I'm sure it was a really good idea of mine one night. But because of this shortage, I'm constantly asking my husband to transfer money over from savings. He grumbles when I do it.
This past month the grumbling was more than usual...mainly because we had a very expensive summer and he wanted to keep the $$ in savings. (Although, I keep telling him it isn't budgeted for savings and that I don't have enough in the checking account to meet the bare-bones!) So - to make him happy I told him ALL I needed was $1675 to get me through the month. The big bills were paid and $1675 would/should be more than enough for our everyday expenses.
Hmmmmm....$1675 is a lot of money, right?! And it's a lot of money that can be spent quickly! In the last NINE DAYS, here is where a large portion of this money has gone:
$290.74 groceries
$108 gasoline/oil change
$15 out to eat
$12 dry cleaners
$13.50 school expenses
$67 football expenses (pictures, name on jersey, snacks for party)
$25 guitar lesson
$19 commissions paid to boys
$184 x-rays for our dog
$5.50 parking and tolls at doctor's appt
$38 gifts (2 birthday and 1 Christmas)
$26 basketball
$11.47 golf
$390.65 AMEX balance
$24 entertainment (date night)
$18 haircut for oldest son
The American Express balance was a surprise and the x-ray for my dog was paid by my husband which means it came directly from our savings account. So, I'm not sure if I should even count it towards the $1675. To err on the side of conservative, I'll keep it in.
So - I'm left with $460.13.
I KNOW that these expenses are FIXED and still need to be paid:
$270 basketball registration
$112 Scout trip to Charleston
What's left and FLEXIBLE is:
birthday gift for my mother-in-law
groceries
gasoline
guitar lessons
commissions
I have right at $500 in checking and $119 cash. More than my balance (probably because the dog fees were paid directly from the savings account), but I'm aiming to keep it at the $460 number.
I think maybe I should practice saying NO more often...
4 comments:
Your expenses look very similar to mine, where MOST of the variable expenses go to kids extracurriculars. Isn't it amazing how much it costs? Last night I drew the line and decided Mom & Dad needed to go out for a date night INSTEAD of taking the kids to a cross country party event (which would include us purchasing chocolate and marshmellows for a bon fire smore). We told them it was our turn, and they would have to sit out this event. I could not believe I did it, but they were pretty good about it. No complaints. I will have to do that more often.
Yes, $1675 is a lot of money, but I know that it can go FAST. Thanks for the reminder that I have to take the dog to the vets for his shots...I'm sure this won't be cheap either! :)!
Yes! Those darned kids cost a lot of money!!! You're so good to say NO. I think that we need to start having them pay more of of their own fun, activity expenses out of their own pocket. The trips to eat with the team, team parties, scout trips, food while on the scout trip, etc really adds up. I'm not sure my 9 year old is ready to personally manage his money to pay for all of these types of expenses, but my oldest is about to turn 13. I may consider giving him $ that we have budgeted for said items and let him manage it the way he sees fit. I need to give this some thought and possibly give him this extra responsibility when his birthday rolls around this fall.
Kid's budgeting can never start too early!
Why don't you say no a few times and put the money towards something.
Sft x
Hmm... Do you ave enough food from that $290 grocery trip to last for the month along with what's in your fridge/freezer/pantry? That would help stretch money...
Could you make your MIL a gift?
I'm sure you'll figure things out, just need to be creative & think outside the box! ;)
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