Friday, January 10, 2014

January Budget

We have just two major points of focus for the month.

Send $1,275.00 to South County Boys 2013 Roth IRA. ($500 from 2 paychecks, plus the regular $275 we normally send to mine.)

Keep groceries to $300 this month, buying as much organic as we can.

If we can do just those 2 things this month, I'd call that a success. 

The Deadline for contributions for the 2013 tax year for SCB's Roth IRA is Tuesday, April 15, 2014, so if we stick to our plan,

January - $1,275.00
February - $1,275.00
March - $1,275.00
April - $500.00 (SCB will only get 1 paycheck before the deadline)

That leaves us $1,175.00 Short from maxing out his Roth IRA for 2013... 

Hopefully we can "find" that much floating around in the budget over the next three months. If we are super close and we would only be floating some money from our EF for a week or so, I may consider pulling out $500 since SCB would get a paycheck the next week to put it back... and finding $675 seems much more "do-able" over the course of the next couple months. Who knows, maybe we will get a nice tax return?

January Budget:
Mortgage: $771.99
Church Tithe: $572.00
Other Church offerings: $40.00
Groceries/Household Items: $300.00
Date Nights & Eating Out: $100.00
Pocket Money (each) $40
Cell Phone Work Reimbursement: $84.75
HOA: $270.00
Utility Bills: $150.00 (Second cell, Electricity, Internet)
Gasoline: $250.00
Discretionary: $201.08

Christmas Savings: $50.00
Vacation Savings: $100

Roth IRA: $1,275.00
Insurance Savings: $143.00
Prescriptions/Doctors Visits: $50.00
Roxy (Dog) Savings Account: $50.00

** In addition, January is a three paycheck month so we will Tithe 10% and the rest of the money we spend on the vacuum we purchased. 

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