• About Me
  • Disclosure
  • Shop

Making Cents Matter

  • Home
  • Resource Library
  • Budget
    • Budgeting Tips
    • Our Monthly Budget
    • Meal Planning
    • Free Printables
  • Debt Free
    • Debt Free Tips
    • Our Debt Free Journey
    • Free Printables
  • Saving
    • Ways We Save
    • DIY
    • Free Printables
  • Recipes
    • Recipes
      • Breakfast
      • Lunch
      • Dinners
      • Instant Pot
      • Slow Cooker
      • Soups
    • Meal Planning
    • Preserving Food
  • Garden
    • Gardening Tips
    • Preserving Food
  • Shop

July 24, 2020 · Leave a Comment

July 15, 2020 Budget With Me

This post may contain affiliate links for your convenience.
Click here to read my disclosure policy.

Budget· Debt Free· Our Journey· Our Monthly Budget

1shares
  • 1

Our July paycheck cames on Wednesday, the 15th, and is the only paycheck we’ll see until August. I know some like watching how I do it on YouTube, and some like to have an actual breakdown of what we’re paying. This is the best of both worlds! Come along as we walk through our July 2020 Budget With Me!

July 2020 Budget With Me

Some background information:

  • Our main source of income is now paid monthly, around the 15th of each month. The only exception is when the 15th falls on a weekend; then we are paid on the Friday prior (so as early as the 13th).
  • I budget by paycheck, so from the 15th of one month to the 14th of the following month. I started this when I was having a hard time using the calendar month to budget our income. This goes back to when we were paid weekly and deeper back to our bi-weekly pay days. Instead, I budget paycheck to paycheck using a budget calendar — this is vastly different than living paycheck to paycheck. My lightbulb moment to start budgeting this way came after reading You Need A Budget*.
  • The workbook I am using is one that I created to help fill in gaps with other workbooks that I have tried over the years. You can find the workbook in my shop, or on Etsy.

July 2020 Budget With Me

June 15th’s budget left us borrowing from our emergency fund, and depleting our checking account buffer. So for the time being, we have a few items we need to accomplish before we start paying down our debt again.

To see how I set up our budget, check out this video:

Income: $5,800

I always underestimate our income. Hubs is salary, and his net pay is roughly $5,800 per month.

Savings: $1,017

We save money towards our sinking funds every paycheck. This month, we are saving towards these categories:

  • Non-Monthly: $267
  • Gifting: $260
  • Medical: $125
  • Vision: $129
  • Dental: $21
  • Truck: $91
  • Back To School: $86
  • Instrument Cleaning: $38
  • Tires: $100

Bills: $3,075

  • D Chase: $925
  • K Chase: $236
  • Electric: $150
  • Insurance: $266
  • A’s Cell: $50
  • Explorer: $340
  • Mortgage: $565
  • O’s Clarinet Maintenance: $8
  • Verizon (internet & landline): $85
  • K Citi: $75
  • D NelNet: $100
  • K NelNet: $275
  • K’s Cell: $48

July 2020 Budget With Me

Debt:

This isn’t something I designate in our Budget With Me simply because I like to calculate our total debt paid by the calendar month, not our budget month (the 15th through the 14th of the following month). But I know some people like to follow a percentage budget, which allocates a specific portion of your budget to debt each month. So here are the bills we’re paying that is actually going towards debt this month.

  • K Citi: $75
  • K Chase: $236
  • Explorer: $340
  • D NelNet: $100
  • K NelNet: $275
  • Mortgage: $565

Cash Envelopes: $1,100

  • You-Pick: $40
  • Food: $600
  • Household: $100
  • Miscellaneous: $100
  • Pet / Chewy: $100
  • Allowance: $40
  • Hair: $20

Debit Expenses: $595

  • Fuel: $250
  • Therapy: $60
  • Marching Band Dues: $10
  • Vehicle Registration (2 years): $0 – comes from a sinking fund
  • Vet Check: $175
  • Clothing (ON): $100
  • School: $0 – comes from a sinking fund
  • Medical: $0 – comes from a sinking fund

Remaining:

When all is said and done this month, we’re expecting to have $13 leftover to leave in the account as a start to refunding our checking account buffer.

July 2020 Budget With Me

Related Posts

  • 52 Week Savings52 Week Savings
  • July Budget CategoriesJuly Budget Categories
  • Roast Chicken in a Dutch OvenRoast Chicken in a Dutch Oven
  • Chicken Tortilla SoupChicken Tortilla Soup
  • Homemade Stainless Steel CleanerHomemade Stainless Steel Cleaner
  • Cheddar Broccoli SoupCheddar Broccoli Soup
1shares
  • 1
Previous Post: « How To Freeze Blueberries
Next Post: August 15, 2020 Budget With Me »

Reader Interactions

Want access to our resource library? Sign up for our free email list!

* indicates required

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CommentLuv badgeShow more posts

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

  • Email
  • Facebook
  • Instagram
  • Pinterest
  • YouTube

Post Categories





makingcentsmatter

makingcentsmatter
Only you can determine what your financial goals a Only you can determine what your financial goals are. If that means you're adding money to your savings account, or contributing to your retirement, while you are paying off debt, then so be it!⁠
.⁠
Do what looks right for you and your personal finances.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#budget #budgeting #savingmoney #savings #cashbudget #cash #cashisking #frugalblogger #frugalmom #frugalliving #financialgoals #personalfinancetips #personalfinance #debtfreejourney #debtfreecommunity #debtfreeprogress #makingcentsmatter #financialfreedom #debtfree
The trick to meal planning is to make it predictab The trick to meal planning is to make it predictable. But predictable doesn't mean the same thing week to week. You could have a chicken meal, a soup meal, a pasta meal, a leftovers meal, a family favorite meal, and so on.⁠
.⁠
We always try to go with themed days, but some weeks are so hectic the theme is literally "fast". Thankfully that hasn't been the case lately.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#mealplanning #mealplan #budget #budgeting #monthlyincome #savingmoney #savings #cashbudget #cash #cashisking #frugalblogger #frugalmom #frugalliving #financialgoals #personalfinancetips #personalfinance #debtfreejourney #debtfreecommunity #debtfreeprogress #makingcentsmatter #financialfreedom #debtfree
I can only hear about my extended warranty I never I can only hear about my extended warranty I never purchased so many times. 😣⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#makingcentsmatter #budgets #monthlyincome #debtfreecommunity #realbudget #savingmoney #payingoffdebt #savings #frugalliving #frugalblogging #budgeting #monthlyincome #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom
March Debt Paid numbers are in!⁠ .⁠ House: $51 March Debt Paid numbers are in!⁠
.⁠
House: $511.13⁠
Citi: $0 – this has a residual $3 in interest charges since payoff, due in April⁠
D NelNet: $100⁠
K NelNet: $100⁠
K Chase: $600⁠
Explorer: $336.27⁠
.⁠
Total Paid in 2021: $8,258.84⁠
.⁠
Extra Payment: There isn’t one this month since we were $25 away from zeroing out the budget for our February 15th monthly paycheck. That $25, and monies left from our January 15th paycheck, covered our OOP costs for Hubs’ filling. We also have some savings goals coming up that need to be met, making our debt payments a little lower for the time begin.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#makingcentsmatter #debt #debtfreejourney #debtfreeprogress #debtfreecommunity #realbudget #savingmoney #payingoffdebt #savings #frugalliving #frugalblogging #budgeting #monthlyincome #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom⁠
The battle for who can charge what tonight is abou The battle for who can charge what tonight is about to begin. 😬⁠
.⁠
My kids run off with my charger, plug it into one outlet 5 feet from where they found it like that particular outlet is the only one in this house, and then proceed to fight over who can charge their device first at night.⁠
.⁠
Then they get grumpy when it's their turn and it's not the proper input cable. #itwasmychargerfirst #dontlikeitgofindyourown⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#parentingteens #parentingtweens #momlife #realife #budget #budgeting #savingmoney #cash #frugalblogger #frugalmom #financialgoals #personalfinancetips #personalfinance #debtfreejourney #debtfreecommunity #debtfreeprogress #makingcentsmatter
A needs his wisdom teeth taken out. I've talked a A needs his wisdom teeth taken out. I've talked a bit in our February Budget Check-In about how much of this I think we'll owe, and you can check that out on my YouTube channel if you're interested, but I wanted to say here...⁠
.⁠
To the mother with little kids struggling to get your finances in order, it will get better. I wish I could have heard those words years ago.⁠
.⁠
Nearly 10 years ago we were facing a $1,400 out-of-pocket portion for A's Phase 1 orthodontic work (I looked it up after I uploaded the video... we had a $1,400 portion).⁠
.⁠
It was a lot of money for us at the time. Our kids were 6, 2, and 3 months old. I don't think we even had $500 in savings, and I just left a part-time teaching job because it wasn't paying the part-time daycare bill, so paying our portion in full was just a dream I didn't think was achievable.⁠
.⁠
I was even stressing about the monthly $100 payments. We were so strapped. It was our breaking moment to start cutting costs and budgeting more effectively. We've learned a lot in that time period.⁠
.⁠
What we've learned is that it does no good to stress about it all the time. Life happens. All you can do is try to plan ahead, and if it's something that's unplanned, readjust. It won't always be easy, especially at first, but it will be worth it.⁠
.⁠
Nearly 10 years later, we are still paying off our debts. Student loans suck. But I see this bill as a reminder of how far we have come. Seeing a bill like this doesn't stress me out like it used to, and I know we can easily create a plan that can get it done and out of the way.⁠
.⁠
Will it delay our debt-free date more? Yes. But it's not worth stressing over. Life happens, readjust, and continue on down the path. It's called a journey for a reason.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#wisdomteeth #personalfiannce #personalfinancetips #financialgoals #budgeting #budgets #savingsgoals #savings #cashbudget #zerobasedbudget #debtfreejourney #debtfreeprogress #adulting #lifehappens #realife #realbudget #makingcentsmatter
It's almost payday! Here's how our variable budget It's almost payday! Here's how our variable budgeting categories are working out for the pay month.⁠
.⁠
Food is looking good this far into our paycheck, probably because miscellaneous - which includes eating out - took a hit with unexpected purchases. Pet is low for this time of the month, and Household is spot on.⁠
.⁠
Fuel looks like it'll be lower than last month (yay for weeks of snow days & delayed school starts), and Therapy had one more appointment than initially planned.⁠
.⁠
Garden, Dental, Medical & Propane are not included in these estimates so far because those expenses are coming from sinking funds. Once we're done with the month and review the budget, I'll move over the total amount spent from those sinking funds.⁠
.⁠
How's your paycheck budget coming along?⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#realbudget #monthlyincome #monthlybudget #budget #budgetupdate #budgeting #savingmoney #variablecategories #savingmoney #savings #debtfreecommunity #debtfreejourney #cash #financialgoals #personalfinancetips #personalfinance #frugalliving #frugalblogger #budgetblogger #makingcentsmatter
Automating your finances makes saving money and bu Automating your finances makes saving money and budgeting more convenient, and therefore easier on you. Out of sight, out of mind, right?⁠
.⁠
What's one thing you can automate this week to make your finances easier?⁠
.⁠
Me? I'm going to set up our sinking fund transfers to automate every payday (the 15th of every month). Our bank set up a feature on their app where we can schedule savings transfers now, and I'm going to take advantage of it!⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#personalfinance #personalfinancetips #budgeting #budgettips #personalfinancemadeeasy #savingmoney #savings #sinkingfunds #cash #frugalblogger #frugalmom #frugalliving #debtfreejourney #debtfreecommunity #debtfreeprogess #financialfreedom #makingcentsmatter
Oh my word... our miscellaneous category has gone Oh my word... our miscellaneous category has gone a smidgen overboard this month!⁠
.⁠
I foresee a goal for March's paycheck to at out less than twice. That's where this category went awry. $99.16 of it went to eating out. 😑 Some of it was avoidable, but not all of it. Having to drive to multiple appointments in one day during snow squalls and rearranging our whole day was one of those unavoidable instances.⁠
.⁠
Tracking our expenses - much like a budget review - is vital to sticking to your budget!⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#makingcentsmatter #debt #debtfreejourney #debtfreeprogress #debtfreecommunity #realbudget #budgetcategories #monthlyincome #savingmoney #savings #frugalliving #frugalblogging #budgeting #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom #expensetracking #budgetfail
Load More... Follow on Instagram


Copyright

I love it when you share our content! Please keep in mind that all content, images and text on this site are property of Making Cents Matter. Feel free to use no more than two photos on your own site, provided that a link back to my original post is included. Do not crop, edit, or remove any watermarks from any of my images without obtaining written permission from me first. Thank you!

Privacy Policy & Disclosures

MakingCentsMatter is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and other affiliated sites.

You can read more about our privacy policy and disclosures here.

Copyright © 2023 · Captivating Theme on Genesis Framework · WordPress · Log in