March:
cc 1,2,3,4,5: 0
Loan 1: 0
Loan 2: 5631.85
Loan 3: 8471.92
Debt: 14103.77
Paid: 758.34
April:
cc 1,2,3,4,5: 0
Loan 1: 0
Loan 2: 5071.85
Loan 3: 8264.50
Debt: 13336.35
Paid: 767.42
Total Paid: 30571.53
Added to savings: -5000
Total savings: ~13600
YAY! for crossing $30,000 paid (Finally)!
A word on savings: We owed $3500 in federal taxes. My husband took out $5000 to cover the taxes. We should be able to repay the difference ($1500) plus what we would otherwise be putting in savings ($1600) and our state refund ($500) for a total reconciled (but not actual as of this moment) savings of $17200. I think we will hold off on this for now incase the little guy comes early. We anticipate hospital/doctor costs of around $1000 and a savings amount of $1600 in May. Total projection for May is $17800. Our debt at that point should be roughly $12,500, allowing us to pay it off with around $5000 left over.
Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts
Tuesday, April 19, 2011
Thursday, April 14, 2011
I'm here.
Wow. I've gone AWOL. Just because I have become tardy with my updates, doesn't mean I am not still following my plan. I have been very preoccupied with the pregnancy. I am 36 weeks now, and feeling big and uncomfortable and sore. My feet are huge. All my free time has gone to preparing for the baby, and I don't even really have energy for that anymore. Overall the pregnancy has gone well.
I have been having a much harder time sticking to my budget. I am spending lots on the baby. I have had some monetary gifts that help with that, but all my discretionary money and I have a baby line item in the budget and I have even gone beyond that. I was doing so well watching my spending til it came to the baby. I am still doing monthly budgets and payoffs. April has been hard because our taxes are much more than we were expecting. May is hard because the baby could come at any time. So, there is some shuffling of money going on in and out of our savings. We should still be able to be debt free after the baby comes with a decent savings starter.
Something has happened at work causing the blocks to go away, so for now, I am able to update here. Which is somehow a lot easier than updating from home for some reason. I don't know when they will put the blocks back up, but I am going to take advantage while I can to try to catch up. :)
Tuesday, June 1, 2010
April Income Statement
April Income Statement
Revenue:
I got an extra week's paycheck at the end of the month, which was actually brought forward to pay for the hotel in May. My inlaws paid my husband back for his expenses to travel there.
Fixed Expenses:
Power is finally going down a little bit. We couldn't find the cable bill, and even though we pay the same amount every month, my husband overpaid on purpose. Insurance is super high because we got charged 3 installments on our auto insurance and my husband and I both got life insurance. I had thought we would be charged monthly for that, but we were charged quarterly.
Debt:
We paid the planned $2000 to the last credit card, as well as the $800 for the travel expenses which were put on the card.
Variable:
We were able to include a travel fund again. The pet amount includes the $150 for the fund as well as $200 spent at the vet on the dog for his shots and grooming. We forgot to take cash. I sorted all the funds out in May. I keep a separate spreadsheet with their ins and outs and actual totals. Supplies was high this month. We did some work on our basement, which required some supplies and I needed some supplies for other projects. Bank fee was the finance charge on the credit card. My husband's discretionary was super high. He got his WOW renewed for 6 months. He also cancelled a subscription, but in the process had to pay for several issues at once. Or something.
Savings:
Not surprisingly, we had nothing for the sinking fund this month. $900 in the bank account was earmarked for repairs.
April special circumstances:
A couple of my husband's charges from his parents carried over onto the April statement. We owed $2000 to the federal taxes. We moved money out of savings to pay for that. Then we got $874 back from the state. I want to pay back the $2000 to savings, but as of yet we have not. I have really just been holding my breath to get through May, but now will look at that.
Thursday, April 15, 2010
Mid month update
Happy tax day!
We had to pay $2000. But we are also getting $800 back from the state. Had to dip into savings for this. I think this has something to do with our mortgage set up right now. If'n we refi soon, maybe it will straighten itself out. I have tabled the refi for now.
We have had an estimate for our roof, and another one coming next week. They think it was a bullet! I forget exactly, but it was around $850. The people coming next week can also do our siding repair (which is probably from settling), so I am waiting to see what that looks like. We have about $1000 saved for this, and I want it done already.
Counting down to my cousin's wedding. I get an extra paycheck this month, which should cover the hotel. We also have $200 in the travel fund, and the $400 in the sinking fund to cover any other expenses. I don't expect many, but we will have parking and miscellaneous spending. I still need to get a gift, too.
My husband needs new tires. Like, one if his tires is literally completely flat. I still haven't worked out how we are going to pay for this.
The good news is, my husband's boss called him last week and gave him a promotion and an 8% raise. It seems to amount to about $360 more take home a month. It was shocking how quickly I found places for that money to go. I had so many things I wanted to fund, and hadn't yet, that the whole thing is not going to debt repayment, as I might like. Starting in May, We will begin a car fund. Both our cars are old, and I am holding my breath that they will both make it another year (let alone long enough to save for another one). My husband's car is ten years old and has over 150,000 miles. I gave us each a raise in our personal money. I think we deserve it. We have had very little fun money. Now we are up to an amount we can actually use for something we want. I doubled what we are saving for our lawn boy - both because we are going to start needing him again, and because I expect his rates to increase again this year. The rest seems to be ironing out things that were getting ignored in the budget, such as the bills being charged on our cards and the quarterly bills. It doesn't last long. But it is good to have. I am just disappointed, because somehow I thought we could get our debt repayment up to 2900 a month, but I guess that was not a realistic figure. I was not accounting for things properly.
I am also struggling with the fact that I am "saving" about $500 a month into these funds. I could pay things off faster if I didn't. But I feel better knowing that we are building money towards these things, should they happen. Our travel and pet funds are about to take another hit. The repairs we have are outpacing what I am saving for them by far. I have decided to put caps on some of these things. If I manage to hit the cap, then I can cut back the saving there until I have to use the money.
We had to pay $2000. But we are also getting $800 back from the state. Had to dip into savings for this. I think this has something to do with our mortgage set up right now. If'n we refi soon, maybe it will straighten itself out. I have tabled the refi for now.
We have had an estimate for our roof, and another one coming next week. They think it was a bullet! I forget exactly, but it was around $850. The people coming next week can also do our siding repair (which is probably from settling), so I am waiting to see what that looks like. We have about $1000 saved for this, and I want it done already.
Counting down to my cousin's wedding. I get an extra paycheck this month, which should cover the hotel. We also have $200 in the travel fund, and the $400 in the sinking fund to cover any other expenses. I don't expect many, but we will have parking and miscellaneous spending. I still need to get a gift, too.
My husband needs new tires. Like, one if his tires is literally completely flat. I still haven't worked out how we are going to pay for this.
The good news is, my husband's boss called him last week and gave him a promotion and an 8% raise. It seems to amount to about $360 more take home a month. It was shocking how quickly I found places for that money to go. I had so many things I wanted to fund, and hadn't yet, that the whole thing is not going to debt repayment, as I might like. Starting in May, We will begin a car fund. Both our cars are old, and I am holding my breath that they will both make it another year (let alone long enough to save for another one). My husband's car is ten years old and has over 150,000 miles. I gave us each a raise in our personal money. I think we deserve it. We have had very little fun money. Now we are up to an amount we can actually use for something we want. I doubled what we are saving for our lawn boy - both because we are going to start needing him again, and because I expect his rates to increase again this year. The rest seems to be ironing out things that were getting ignored in the budget, such as the bills being charged on our cards and the quarterly bills. It doesn't last long. But it is good to have. I am just disappointed, because somehow I thought we could get our debt repayment up to 2900 a month, but I guess that was not a realistic figure. I was not accounting for things properly.
I am also struggling with the fact that I am "saving" about $500 a month into these funds. I could pay things off faster if I didn't. But I feel better knowing that we are building money towards these things, should they happen. Our travel and pet funds are about to take another hit. The repairs we have are outpacing what I am saving for them by far. I have decided to put caps on some of these things. If I manage to hit the cap, then I can cut back the saving there until I have to use the money.
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