New budget

New Monthly Budget starting June 1st:

I believe we won’t be getting those expected work “cuts” for the time being. Most likely they will filter in next year as the hiring freeze and pay freezes remain in place. Either way, it’s time to reevaluate the budget and make a few modifications.

Paycheck #1 ($1,290.13)
• Mortgage: $828.38
• HOA: $250.00
• Offering: $130.00
• Extra Mortgage Principle: $81.75

Paycheck #2 ($1,290.13)
• Offering: $130.00
• Christmas Account $50.00
• Emergency Fund $128.13
• Gasoline $140.00
• Groceries and Food $150.00
• Going out/eating out $50.00
• All Insurance premiums (Car, House, Earthquake) $102.00
• Roth IRA $250.00
• Utility Bills (Cell, Electric, Internet) $150.00
• Piano Lessons (2 lessons) $40.00
• Other/Random Unbudgeted $100.00

I’m increasing my extra mortgage principle payments because I’ve been spending too much money on frivolous things as of late, and instead of saving my extra, I’ve been spending it. An extra $21.75 a month won’t be missed so I might as well get an automatic 5.25% interest on it.

I’m increasing my emergency fund savings, again because I’ve been spending a lot of money lately and I’d like to rein myself in. It also seemed like a good idea to up the amount since I decided I want to try and get $15,000.00 set aside.

I decreased the # of piano lessons I have with my friend because I’ve been busy and so has my friend and if I don’t have a lesson with him I spend the $$$ out with friends… so I should be accountable to that… hence the increase in the Other Random unbudgeted account. This is birthdays, holidays, random car repair, getting my nails or eyebrows done, any shopping, household stuff… it’s just lumped into one category to simplify things… especially since its summer and I’ll end up with a whole lot of little things going on this will probably get spent… if not, I’ll filter the money into my “Extra Money” savings account… to spend on big things like vacations and stuff for my house.