My numbers

iVillage Member
Registered: 12-30-2009
My numbers
10
Sat, 01-02-2010 - 1:03am

Ok, I figured things up today and here are my numbers.


Total monthly income after taxes:

Jenn<?xml:namespace prefix = o ns = "urn:schemas-microsoft

iVillage Member
Registered: 07-02-2008
Sat, 01-02-2010 - 8:42am


I don't see your heat listed on here.

Also, while I understand you aren't willing to give up the cell phones can you lower your plans? Get rid of something you don't use? Like Text messaging or something?

While you have $1500+ left over monthly you also have expenses like groceries, clothing, gas, birthdays, etc. that need to be factored in. I'm sure you know this but I'm just blabbing here.

If you are looking to free up money you are best to track spending and see what you can flake each month. Even if its not a lot extra.

And while I understand your devotion to the gym membership - perhaps think about cancelling that come spring. Being outside can be an alternative to the gym in the spring/summer months. Freeing up $40 per month would be a great snowflake. Just a thought.

iVillage Member
Registered: 08-04-2008
Sat, 01-02-2010 - 9:08am

Jenn-


Congradulations on Step 1 - writing it down!


What I do not see in you budget are things like gifts, school activity fees, pet fees (do you have any), subsciptions or dues of any kind, travel and such do you have any of those items?


I am not going to say to get rid of cell phones, we have 4 on our plan and I personally carry my work cell and a personal cell.




iVillage Member
Registered: 12-30-2009
Sat, 01-02-2010 - 10:14am

I guess one of my questions is where do I even start?

Jenn<?xml:namespace prefix = o ns = "urn:schemas-microsoft

iVillage Member
Registered: 11-17-2007
Sat, 01-02-2010 - 10:38am

According to all the books I have read your auto should be like 15% of your income a month. So for you that would be around 1040.00 .

iVillage Member
Registered: 12-30-2009
Sat, 01-02-2010 - 11:18am

Mary Ann,


Thanks for the info.

Jenn<?xml:namespace prefix = o ns = "urn:schemas-microsoft

iVillage Member
Registered: 11-17-2007
Sat, 01-02-2010 - 11:37am

Closing dates are important because the banks start charging interest on the daily balance the day after the closing date on the account. If you are going to pay extra on a bill do it the day after the closing date that lowers your balance that the banks figure the interest on therefore lowering the interest amount.


Second if you are going to charge then do it after the closing date on the account and it does not come due until the next month. Say your closing date is the 6th you charge on the 7th The charge is not counted until the next month so you get a free month


Third if you do a transfer the day after the closing date then it will not be counted until the next month meaning that you can pay off an other account without having to pay a payment for a month. giving you some extra money to pay on the debt or breathing room.


closing dates are some the most important dates you should know. but few people pay attention too,


MARY ANN

iVillage Member
Registered: 12-30-2009
Sat, 01-02-2010 - 11:47am
Thanks!

Jenn<?xml:namespace prefix = o ns = "urn:schemas-microsoft

iVillage Member
Registered: 11-14-2008
Sat, 01-02-2010 - 12:57pm

Hi Jenn,

Lots of people start with a $1000 efund. Then if something happens you can pay cash for it(car repair, medical emergency?? Anything really) You need to stop charging. Get rid of your cards, they are high.

You make good money but you don't have everything listed in your budget. I am not sure how many are in your family but $400 is a good number to shoot for, for groceries. You need to list some spending money and money for gifts and extras that come up...hair cuts etc. Lots of people here have a Christmas account that they contribute to monthly to have a cash Christmas. I would suggest tracking your money to see where it goes, just write everything you spend down. You will be surprised.

Good luck on your journey, you can do this!


iVillage Member
Registered: 03-27-2005
Sat, 01-02-2010 - 2:55pm

Jenn,


Don't forget to

iVillage Member
Registered: 08-04-2008
Sat, 01-02-2010 - 5:13pm

The reason for an Emergency fund is to have money available for an emergency so you do not resort to using a credit card.