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2014 monthly/annual budget thoughts

December 3rd, 2013 at 10:09 pm

I'm intrigued by all of you doing an annual budget. While I am spreadsheet-averse, I did sketch out our income, monthly expenses and then a breakdown of our annual expenses.

I have to say, it's eye opening already. I know in theory I should have an extra $1000 a month or more floating around, but I never seem to. Turns out it's those occasional monthly expenses that don't appear on the recurring monthly budget.

There might be something to this!

Here are my rough estimates and plans for 2014.

Income 5546/month-DH
750/ month --me (minimum. Usually more) (9000/yr, $5500 to IRA, $3500 extra to mortgage?)

Monthly bills
$1700 - mortgage
$600- groceries
$600 savings
$550- preschool
$400 - 529 plans
$225- utilities (electric, gas, water)
$90- internet/phone
$80 Y membership
$70- car fund
$40-- charity deductions
$40- emigrant direct debits, kids/savings
$40- allowances
$10 netflix
=4445/month


Yearly budget
January
DH, sister's birthdays
Pay car insurance
renew drivers license
$20 for fat club
Annual writer's dues
Get the cats fixed

February
Valentine’s day
Super bowl party
doctor visit- DH

March
Mom/ Me birthday
renew drivers license

April
tax prep bill
pay city tax
DS1 birthday party

May
Trip to New Orleans

June
Summer camp
pay car insurance
5K
Trip to Maine w/in-laws

July
Summer camp

August
Summer camp
2 5k races

September
Preschool bill goes down- 3 days a week- $350 to $400/month
Trip to San Francisco with mom and sister

October
Halloween
Renew CSA subscription

November
DS2 birthday party

December
XMas

Posted in Uncategorized | 5 Comments »

5 Responses to “2014 monthly/annual budget thoughts”

  1. Buendia Says:
    December 3rd, 2013 at 11:13 pm 1386112419
    1386112419

    Other things that aren't monthly for us are passports (we have 7 for the three of us), homeowner's association dues, auto servicing, car registration and membership to the local pool in the summer. I have a deep love of spreadsheets, but I try to put all of those things into normal categories (so XMas is in several categories - a slightly increased food budget, gifts for family, gifts for others; I roll over the amount each month so that by the time the expense comes around, there's enough in there). I always find something new when I look at expenses this way! I am getting ready to do 2014 based on all the info I have from 2013.

  2. snafu Says:
    December 3rd, 2013 at 11:15 pm 1386112559
    1386112559

    Isn't it shocking how easily money just vanishes! SA 'conversations' about how others do things offers ideas to consider.
    Your review seems to have identified items for inclusion in your budget/planning. You might find it helpful to note unplanned spending bits for a month or two. I find it a terrific tool to help me focus on finance.

    I've a lot of once-a-year expenses and tackled them by dividing the anticipated amounts by number of pays and set the sums aside, escrow-like in a linked savings a/c. As the due date approaches, a couple of computer clicks transfers the sum to chequing along with the process to pay the bill on line 2 business days before due date. Stress-free

  3. beawealthywarrior Says:
    December 4th, 2013 at 12:11 am 1386115865
    1386115865

    What about Thanksgiving?

  4. ThriftoRama Says:
    December 4th, 2013 at 02:53 am 1386125598
    1386125598

    Thanksgiving doesn't cost us much. We share the load with our extended family, so whatever we have to contribute fits into the grocery budget.

  5. ceejay74 Says:
    December 4th, 2013 at 04:28 pm 1386174533
    1386174533

    Amazing insights! Slap some dollar limits on all those nonmonthly expenses and you'll be able to see how much (if any) money should be left over each month.

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