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October Budget 2012

My desk at work
Crunching the numbers and trying to work out this Month's budget .....

Mortgage 884

Electric 150 ( signed up for average billing plan so no more surprises

Cable 135

Personal 100

Tolls 130

Ins auto 128

Grocery 550 ( going to try to do better this month)

House 200

Tithe 700

Savings 50

Credit card 500

Eat out 150

Gifts 100

GAS 500

Total 4412.00

Income 4460.00

Online income 400.00 ( this is not factored in budget because amount varies each month. At end of month any surplus is spent on immediate needs such as car tune ups, yearly pest control that I forget to budget for.)

As of last month, we started the Average Billing Plan with our power company. Now our bill we be around or close to 150.00 a month. They will re evaluate the amount every quarter and adjust as necessary.

I contacted our mortgage company last week as well. The Homestead exemption was approved for our primary residence and this lowered or mortgage payment because our escrow requirements were lower. The clerk that was helping me refunded an excess amount from our escrow ($1000.00) that we applied to our credit card. Our payment also went down $200.00!

We are going to continue to pay the same amount ($884.00) and apply the difference towards the principle. That additional amount will take an extra 6 years off our mortgage.

How is your budget looking for October?

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kim said...

I am always amazed at ho much people need to live. That we can spend every penny we make just to get by. Scary. My husband has never brought home more than $1900.00 a month unless he is on fire. I am also jealous of anyone who has a husband that can provide!:)

Lance@MoneyLife&More said...

I love homestead exemptions! My house is worth less than 75k according to the property appraiser so I only have to pay all taxes on 25k and then ~25k additional in school taxes...

C.R.P said...

Looks good! Our income is taking a big hit, so from here on in we're watching our pennies! We're on a budget billing plan as well and went over this month by $60! :( I think I'm going to pay it in full each month so I don't owe hundreds of $$$ next summer!

CentsToSave said...

I was thrilled when our homestead exemption finally kicked in at our new house. Such a huge difference on our mortgage payment.

CentsToSave said...

I have had to adjust the budget weekly. As I keep track of the money, I see where it is going AND that I did not have that outgoing money accounted for. The above budget is based on two incomes. When I was unemployed for a year, it was a much different scenario and a lot leaner.

CentsToSave said...

I like the average billing plan. For the most part there are no surprises.