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trying to plan spending for the year

April 12th, 2021 at 11:50 pm

I don't know if others find it hard to plan spending for the year.  I guess because I don't have a straight budget plan yet.  I also am unsure how disciplined I want to be with "savings".  I definitely want to save for things like property taxes and sink funds but the retirement?  

So here's our basic budget and I need to figure out how to make things work.

$10914 Income

-$3850 Mortgage

-$1000 Property Taxes (Savings account)

-$725 Sink Fund

-$1500 Roth IRA

= $ 3839 leftover.  

That should be enough but I am worried it's not.  Mostly because it's supposed to cover our travel expenses and just overall expenses.  If we spend $800/month groceries and $200 eating out that leaves $2800 for utilities, gas, etc.  Right now it doesn't seem like we can get a handle on spending, but we'll have to see.

Sadly this month we are $298.40 Groceries, $26.69 eating out, $77.18 Alcohol, $120 Dog, $759 Travel, $45 gas, $557 utilities, $55 Home Depot, $35 personal care, $6.60 Auto, $77.13 Home Stuff, $112 Gifts, $180 services, $9.61 Misc, $154 Amazon (sound channel), $168 kids, $99.15 Clothing (will return 1-2 jeans) = $2781 to date for the month.  

We plan on going out to brunch on Sunday with friends so there is that.  Also we do have t osome shopping more for groceries.  I'm hoping to have many NSD the rest of the month.

1 Responses to “trying to plan spending for the year”

  1. rob62521 Says:

    Is there anyway you can cut your grocery and eating out costs? A little nip and tuck here and there could save you some money and might help you put a little bit into savings. I do believe being consistent with putting money in savings and retirement is the way to go, even if it is small amounts. Years and years ago I had a small savings account that was separate from my main savings account. This little account I threw in any extra money I had. One week it might have been $1 and sometimes it was $4 or $5. I used whatever coupons I could on stuff and banked that coupon money. It came in handy when my school association decided to go on strike. I had money to pay for stuff when others barely scraped by because I had been putting in dibs and dabs for a few years. I encourage you to save steadily, even if it isn't a large amount.

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