When people tell me they love budgeting I feel like they need help. Because there is no way in hell I find budgeting fun. They’re the same people who tell me they love cleaning their bathrooms. I did it anyways and for the Month of May here is what our spending looks like. Now this is for both our combined accounts & income.
Home (Mortgage, HOAs, Etc): $904.56
Transportation (Insurance,Gas, Unexpected Repairs): $438
Business ( Ebay, Fees, Stamps. Etc): $545.15
Education (Student Loans): $300
Utilities (Total Together): $359.56
Household Expenses (Groceries,Personal Care, Eating Out, Etc): $773.05
Pets ( Food, Vet): $228.57
Income-Expenses = -$117.71
We had a couple of unexpected expenses, spent a little over groceries, eating ,etc. The unexpected emergencies are a new battery for my car, vet visit, and just buying things we didn’t need. It’s not too bad but it’s obvious we didn’t have money to save, and had to borrow money from our savings ( Which is why it dropped last month). I know my figures show a difference of -$117.71 but we also had to pull money out for paying our road trip to Universal/Credit card payment. Our monthly savings will drop too for June because we both have to pay for car repairs + Registrations to the tune of at least $1,000.00. So I will probably post our figures for June next month.
To be honest the whole process of looking at our spending habits was a little stressful but at the end I feel relieved. Now here is a budget I set for us. Our income will vary for sure since my contribution also depends on my eBay sales. Plus since I dropped my largest account from my part-time job, my business expenses will go up because I will be listing and buying more. The $545.00 isn’t entirely correct in terms of fees paid because I tend to pay my fees as sales follow through. My eBay fees are in the tune of hundreds upon hundreds of dollars. I haven’t set a budget for that but I did set myself an inventory budget of $300.00 a month. This can also vary depending on what I can find to sell.
Utilities: $400 (I added a little more for our summer bill)
Household Expenses: $600.00
Now my husband has a more reliable income. He typical brings home $2,000-$2100.00. Which means it is up to me to profit from eBay/Part time job of at least $800.00 Any money I make over $800.00 will be deposited in our savings.
To actually see what I need to bring home is the first time of finding this out. In the beginning of this blog I assumed we can live on my husband’s income comfortably and deposit all my profits. Now I realize I need to profit $800.00 from my sales a month.
This doesn’t include our plans to open an Etsy store/ Food Blog but I will add that in the business expenses. Thank goodness I have outright as my bookkeeping ( now godaddybookkeeping).