Budget!

I am finally getting around to posting my monthly budget. I’ve had it done for about a week but the madness of the holidays had me a little overwhelmed and I had to spend a few days cleaning up the mess that my house became over Christmas vacation.

Without further ado…(Next time I post a budget I’ll figure out to do it up all snazzy and paste it Excel-style but in the interest of actually getting this posted it is what it is.)

Single Mom’s Monthly Budget

Income: $1850 ($925 bi-weekly)

Savings: $50

Rent: $575

Car ins: $67

Renters ins: $15

Gas: $120

Cable/Internet: $105

Cell phone: $100

Groceries: $250

Utilities: $200

Sinking fund: $85

Dining out: $36

Blow money: $36

Sallie Mae: $160

E school lunch: $51

Total: $1850

I’ve attempted budgets before but I have never had a zero-balanced budget, so this is brand new and I’m kind of nervous about it. There are some things to point out, though…

Income: $1850 is a tad conservative as my paychecks are usually a little bit more than $925 but I didn’t want to base a budget on fluctuating numbers. My plan is to funnel any amount over $925 directly into savings.

Cable/Internet: I know that so many people cut out cable completely, but I just can’t do it (well, not yet).  I have to have high-speed internet for my online classes, so that’s not even an option. I won’t get rid of cable, though, because as you can see there really isn’t an entertainment category to this budget. I also pay for a DVR box because I work a varied, night shift schedule and can’t watch my shows when they come on (again, pretty much my largest source of entertainment).

Cell phone: This is my only phone; there is no landline. I pay for unlimited everything as I have a tendency to talk and text quite a bit. And yes, I have a ‘droid and I pay for a data plan.

Groceries: I’m really not sure if 250 for the two of us is high or low, but it’s right around what I can guess I’ve been paying. This area may need to be renegotiated but we’ll see.

Utilities: This includes natural gas, electricity, water, trash, sewer.

Sinking fund: This category includes car maintenance, physician copays, prescriptions, gifts, and haircuts.

Dining out: I realize 36 isn’t all that much but the goal is to really quit the fast food lifestyle. I have to admit that with the schedule I sometimes have it’s just easier to pick up something than try to cook, but in November 2010 I spent over $150 on eating at restaurants. That’s just gross and way too much!

Blow money: Because I have to have a little money that I feel I can do whatever I want with. Realistically, this will more than likely be spent on E.

Sallie Mae: One day, this awful lady will be gone from my life. Can’t wait!

E school lunch: I’m ok with this as it saves me some work, and a lot of wasted food because my child is incredibly picky about what she eats for lunch. She can also eat something hot and nutritiously sound versus the cold junk she wants me to pack for her (I’m talking salami slices, dill pickle spears, chips, Kool-Aid—No way!!)

I’m sure this budget won’t work perfectly right off the bat…there are a lot of bad habits on my part that are going to have to be modified but it’s a start.

Now to get to it…