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November 4, 2016 · Leave a Comment

October 2016 Budget & Debt Update

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Click here to read my disclosure policy.

Budget· Debt Free· Our Journey· Our Monthly Budget

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This month is our last month for full on soccer practices until the spring. I can’t tell you how happy that makes me at this point.  I’m glad they’ve enjoyed soccer, I’m impressed with how far they’ve come and how they’ve handled the crazy schedules, and I’m excited to see them start back up in the spring.  But there comes a point where mom is just plumb worn out, and I’ve hit that point.

october 2016 budget debt update

october 2016 budget debt update

Income

Salary: $3,757.43

Monthly Expenses

Mortgage**:  $500

Cell Phone:   $47.42

Home Phone / Internet:  $75.31
The majority of our bill is for internet service.  One of my goals for for remainder of the year is to look into other internet providers for us, to see if we can get this bill any lower.

Credit Card 1:   $106.93
The payments on this are reoccurring bills whose payments are made online, that we don’t feel safe enough leaving our bank information in their account records.  Last month’s is a little lower because we’ve paid on pending charges the last few months as well that have finally caught up.  This month’s is back on track, although a little higher due to some rate increases on a few bills.

Credit Card 2**:   $950
This is our current snowball, although it hasn’t felt like it.  Since fall soccer was coming to a close, I was able to put a little more towards this than I have over the last few months.

Student Loans**:  $160

Electric:  $128.79
Cooler weather has arrived, and it’s showing in our electric bill!  It’s on the decline, and it’ll continue to do so as we fire up the wood stove for the winter.

Insurance:   $246.77
Our insurance payment includes the car, house, and five life insurance policies.

Piano Lessons:  $0
Bookworm’s piano lessons are a generous gift from my mother-in-law.

Newspaper Subscription:  $13.45
Our monthly, weekend only subscription.

Additional Expenses

Groceries:  $570.47

Household & Personal: $29.73
This month I redeemed our Sam’s Cash Rewards to purchase toilet paper, dishwasher detergent, and tissues for free.

Fuel:  $113.11
Now that soccer is done, our fuel bill will be a lot lower until spring soccer starts.

Lawn: $0
No need for fuel for the lawn mower when the grass stops growing.

Pet: $56.71
This month I got hay and pellets for our rabbit, as well as a new litter pan since she’s now inside for the rest of fall and all of winter.  I also bought food for our betta.

Eating Out: $39.44

School: $10
This month was Book Fair month at Monkey’s school, and this was his budget for his trip to the fair.

Band: $20.00
This month Bookworm had a fundraiser for a band related trip later on in the year.

Soccer: $22.83
This month Monkey was responsible for halftime snack at one of his games.  The fall soccer season officially ends this month, so this expense will go back to zero while we wait for the spring season to begin.

Miscellaneous/Fun:   $78.40

Hair Cuts:   $20
The boys get their hair cut every few weeks.  While I realize that I could cut them at home, I also realize that there are somethings, that no matter how hard or often I try, that I am simply not good at.  Hair cuts is one of those things.  When the boys decide they want to start having buzz cuts – the ONE hair cut I know how to do – I’ll start cutting their hair at home.

Household Repair:   $38.12
This expense is considered under household repairs, but wasn’t really a repair.  We have a used oil tank, the small kind that you can drain your car oil or ride-on lawn mower oil into.  Sometime over the summer, with our insane heat, it cracked and made a mess in our garage.  This expense was for materials needed to clean up the mess.

Wood Stove Maintenance:  $31.76
Our main heat source is our wood stove, in which we primarily burn wood because we get it for free from family land.  I bought some CSL logs to help reduce any creosote buildup that may occur before we get to the colder weather.

Velcro:   $4.75
I don’t know where to really categorize this expense.  I needed to get some Velcro to help tighten up Lady Bug’s mask and belt to her Antman costume, but both packets didn’t get used up on this.  I don’t have a set craft items budget for myself anymore either since I’m trying to go through what I have first before I start buying more.  So, here it is, velcro in it’s own little category.

Savings

Each month I put an allotted amount of money into our savings accounts to pay for expenses that vary throughout the year.  Here, you’ll find a break down of what we put away in the account throughout the month, as well as any expenses through the month that came from that account.

Annual Savings Account:  $240
Every week I put money aside into this account, and on months with an extra paycheck, I put even more into this account.  To read more on how much we try to put aside and what we use it for, you can check out this post.

Medical: $149.45
My EOBs have finally come back in for a few of my visits last month.  This is just what I owe MedExpress for their x-rays, nebulizer, and shipping me off to the nearest Emergency Room.  I’m still waiting on the bill from my doctor’s office.

Dentist: $22.00
This was for Hubs’ out of pocket portion on his checkup earlier this month.

Gifting Savings:   $160
I also add money to our gifting account each week.  It helps us to stay on budget each month and still have funds available for when birthdays and holidays come up.

Debt Savings:   $0

Savings – Miscellaneous: $93
This month we were notified of changes to our insurance coverage beginning in January.  I’ll have an upcoming post about what we did before, what changes are being made and how we’re going to prepare for them, but suffice it to say that our deductible will more than double, and the entire scope of how we pay will change.  We will no longer go by a 20% coinsurance, which means I pay roughly $15 per sick visit, but now a $35 copay.  We are also tossing around the idea of starting an FSA, which we didn’t need to have before.  So, until we make the final decision of what to do in the next month, I’m throwing extra money into savings for the time being.

Debt Repayment

After paying off some debts earlier in the year, we are down to our mortgage, two student loans, and one credit card.  Since we started getting serious about our repayment at the beginning of 2014, we have paid off 3 credit cards, a small student loan, and our car.  We have also ended our payment plan on Bookworm’s orthodontic work, as well as our lease on his trumpet.  We have come a long way since we started two years ago, but we still have a long way to go.

Mortgage**:  $500

Credit Card 2**:   $950
This is our current snowball.  After increasing our emergency fund a bit, this is currently in repayment.

Student Loans**:  $160

october 2016 budget debt update

Well… there you have it.  A complete rundown of how our budget and debt repayment went throughout the month.  How did your October 2016 budget and debt repayment go?

october 2016 budget debt update

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makingcentsmatter

makingcentsmatter
Payday is today! Actually, payday was Friday the 1 Payday is today! Actually, payday was Friday the 12th because we completely forgot today is a bank holiday in the US. The feeling of being paid and not needing it is a nice one.⁠
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Here's what our paycheck needs to get us through for bills until March 14th. For a full look at our budget over the next month, head over to my budget with me on YouTube: https://youtu.be/rb8uyi1-rNc⁠
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#monthlyincome #monthlybudget #monthlybudget #zerobasedbudget #payday #budgetwithme #budgeting #budgettips #budgetcalendar #frugalliving #savingmoney #paycheck #makingcentsmatter #debtfreejourney #debtfreeprogress
This weekend was focused on a pantry shop and meal This weekend was focused on a pantry shop and meal plan creation! This meal plan to get us to our February payday. We also picked fast meals, because it's a busy two weeks between doctor's appointments,. Academic Decathalon, dance, and drama. I'm unsure we'll be able to shop on payday, hence the extras.⁠
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Total spent: $112.39 for items to get us through this and lunches.⁠
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Keep in mind, just over $112 for 12 meals isn't sustainable for our family, just in times when we need to stretch the last bits of our monthly income. I really wish $112 was enough to feed two teenaged boys in our household.⁠
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The point being... do what works for you, and your situation based on your location. Don't try to fit yourself into someone else's situation!⁠
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#mealplan #mealplanning #frugalliving #frugalmom #makingcentsmatter #savingmoney #monthlyincome #budgeting #budgetmom #groceryshop
January's real numbers:⁠ .⁠ House: $511.13⁠ January's real numbers:⁠
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House: $511.13⁠
Citi: $720⁠
D NelNet: $100⁠
K NelNet: $100⁠
K Chase: $150⁠
Explorer: $343⁠
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Extra Payment to Citi: $500⁠
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Noteworthy... our car payment had a late fee assessed because the mail was SLOWED down over Christmas. Three headaches later, and we potentially have online banking finally set up with them. It is still a headache. And we are never taking another car loan out with this bank!⁠
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How was January?⁠
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#makingcentsmatter #debt #debtfreejouney #debtfreeprogress #debtfreecommunity #realbudget #savingmoney #savings #frugalliving #frugalblogging #budgeting #monthlyincome #zerobasedbudget #financialgoals #personalfinance #personalfinancetips #financialfreedom
Sometimes in order to see progress, you need to ta Sometimes in order to see progress, you need to take a step back.
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I'll be honest, I didn't think that we got this far in 2020. With everything going on - and more importantly, everything NOT going on - we didn't keep up with this every month. We just threw what we could at our goal. I'm simply amazed at how far we came.
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Things are still hectic, and I'm simply mentally exhausted between remote learning, extended remote learning, offset quarantining children... it goes on and on.
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But I also cannot wait to see what strides we will make in 2021.
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#makingcentsmatter #debtfreejouney #debtfreeprogress #savingmoney #savings #frugalliving #frugalblogging #budgeting #monthlyincome #zerobasedbudget #financialgoals #personalfinance
This is what school looks like when it's a hybrid This is what school looks like when it's a hybrid model, and your house does not have unlimited space. I was standing in our kitchen when I took this picture, the kids behind me making lunch.
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Our district is carefully monitoring our local infection rates, and we are currently in a hybrid form. That means they divided the district into two groups; half are in school on Monday and Tuesday, the other half on Thursday and Friday. They are offering an all remote option, but Verizon for some reason supplies our house with speeds so slow that it would shock a tortoise. Remote was a no-go.
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This set-up has taken some trial and error to get to where we currently are. Because no matter how prepared you are and how much you've planned, once you're in the weeds, actually doing it, there is no telling how your best-laid plans will work.
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Our home is a 1800sqft one-story, open living area, 4 bedroom, 1 bathroom, ranch-style house in a very rural area. It has no home offices. No guest bedrooms. Yes, that is a desk in the corner of our dining room. 🤣
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Each kid gets their own color bin for their school work. This includes school-issued Chromebooks and other standard items they need to get work done - headphones, pencils, and so on. When we are done for the day, we clean up everything, place them neatly in these bins, and place them in cubbies (on my current left) at night while the Chromebooks charge.
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I do NOT bother to clean up at lunchtime. It would take us more time to clean up and reset everything than it takes us to eat lunch. So we only pack it all up for the day and call it done.
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During the day, I sit between my younger two and field any questions they may have, troubleshoot technical issues we all have, and be the overall bouncer when things get off-topic. My high schooler will occasionally emerge from his bedroom, which opens to the kitchen. So he is close by when he has questions.
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Please remember that with all things in life, you need to work with what's available to you. And there is no shame in that. Don't ever feel like you're not doing good enough because it's not picture perfect. Work with what you have available to you, and you'll do amazing things.
School is in session, the garden is slowing, and I School is in session, the garden is slowing, and I’ve finally realized I haven’t shared our payoff numbers for July or August. Yeah……
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Please keep in mind, we are paid monthly on the 15th, but we don’t go by a “monthly” budget. So I have to go back and look at these numbers based off their due dates in the calendar. Because our pay falls in the middle of the month, I can’t tell you what portion of our income went to debt. It’s going to vary paycheck to paycheck anyways because our priorities vary with each check. Nothing is ever the same month to month, and pay to pay.
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That said, inJuly we paid off $2,694.43.
In August we paid off $1,673.40.
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The difference here is that our priorities shifted between the two months.
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During August, we were doing more prep for whatever school would look like this year, and we had some savings goals make their way to the top of the list as well.
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Of those goals, in August we made progress!
EF Reimbursement: $146 / $1,200
Checking Buffer Reimbursement: $227 / $500
Vet Sinking Fund: $40 / $200
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Remember this is a journey, not a race. There is no point wearing yourself ragged and still making no progress. Make progress where you can, and celebrate it. Even if it’s $5.
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It’s progress, and that’s what matters!
While I wait for the canner to finish the last rou While I wait for the canner to finish the last round... I rearranged our recipe binder. It's only taken me 8 or so years. 🤣😶😭
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I miss the days when zucchini was my problem. Now it's tomatoes. I can only find so many ways to use up spaghetti sauce! So the next 50lbs or so will be chili base and unseasoned sauce.
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On top of this school is starting with a hybrid in building & online system. And I'm seriously slacking on some things I need to do. I'm not good at juggling multiple things and the balls are falling. But I keep reminding myself... be patient. This too shall pass. This is only a phase. So I pick and choose what's the most important, focus on that and go from there.
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So if you feel overwhelmed with your current phase, remember, this too shall pass. It's okay to rearrange priorities. It's okay to take a breather.
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This too shall pass.
If you didn't start finding interesting ways to ge If you didn't start finding interesting ways to get rid of the squash, can you say you even planted any?
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Good news, I'm almost caught up! Bad news, the garden has more.
Super busy here... but I wanted to share that wins Super busy here... but I wanted to share that wins can come in super small packages. I thought I'd spend $380 to clean the band instruments in this house. I ended up spending $234. So the remaining $146 can go to reimbursing what I pulled from our EF.
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No matter the win, celebrate it!
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What are some wins you have had lately?
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