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Friday's Payday Two Week Budget

August 21st, 2012 at 03:32 pm

Income:
Salary: 900
From DS: 170
Child Support: 339.42
Checking Balance: 276.83

Total Income: 1686.25

Expenses:
Mortgage: 520
Gas: 200
Groceries: 200*
Medical: 75
Alterations: 75**
DD Haircut: 30
DS Car Payment: 300.00
Auto Insurance: 247.87

* Going to try to spend $100
**this is estimated for 6 pairs of pants

Total Expenses: 1647.87

Income: 1686.25
Expenses: 1647.87

Leave 38.38 in the account.

I also had $137 deposited into savings account that will be used next month and $50 deposited into my online savings account.

10 Responses to “Friday's Payday Two Week Budget”

  1. BuckyBadger Says:
    1345563430

    I think you need to edit your salary ;-)

    Also, I thought you had two mortgages? And what about utility bills?

    You may have mentioned this before, but do DD and DS have jobs? I would imagine that her haircut and his car could be paid for out of their own pockets...

  2. North Georgia Gal Says:
    1345563860

    Thanks! Made the correction!

    DS has a job and pays me each week for his car payment and insurance. DD is looking for a job but not very many places in our small town will hire a 15 year old.

    I do have two mortgages...this one is for the rental property. Right now my mom is making the second mortgage payment. The utilities come out of a different checking account.

  3. laura Says:
    1345563939

    I think that because it is a two-week budget, these are the only expenses due within this pay period. I budget like this too.

  4. North Georgia Gal Says:
    1345564127

    Laura is right...these are only expenses due during this two week period.

  5. BuckyBadger Says:
    1345564387

    Gotcha!

  6. M E 2 Says:
    1345564944




    Why is the "balance" in your checking be accounted for as income? It's not. Plus, even it if were, it's income from another pay period.

  7. North Georgia Gal Says:
    1345566089

    I wasn't sure how to account for the balance in the checking account on payday. It is used to cover expenses for this pay day.

  8. creditcardfree Says:
    1345567751

    It is great you have money to roll over to the next payday!! Are you finding things easier to handle now that you aren't eating out as often?

  9. North Georgia Gal Says:
    1345568958

    CCF: It is alot easier since we have stopped eating out. i don't have to worry about how I will cover expenses or the unexpected expense that always pops up.

  10. snafu Says:
    1345602492

    Who will move into the rental house and will it cover the associated costs like mortgage, municipal tax, utilities and a set aside for upkeep/maintenance?

    Now that the deadbeat tenants are out, you need to develop your long term plan. If you wish to sell it, start tracking the housing market, it is getting better s-l-o-w-l-y in some areas of the country. I suggest watching the listings on-line to see what sells in similar square foot, same # bedrooms, similar nearby services.

    If you prefer to rent long term, get a month's rent damage deposit & last month's rent in advance. No more deadbeat tenants for you!

    Whooohoooo are you ever doing well on not eating out! Are you feeling better as a result?

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