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.
Friday's Payday Two Week Budget
August 21st, 2012 at 03:32 pm
August 21st, 2012 at 04:37 pm 1345563430
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...
August 21st, 2012 at 04:44 pm 1345563860
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.
August 21st, 2012 at 04:45 pm 1345563939
August 21st, 2012 at 04:48 pm 1345564127
August 21st, 2012 at 04:53 pm 1345564387
August 21st, 2012 at 05:02 pm 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.
August 21st, 2012 at 05:21 pm 1345566089
August 21st, 2012 at 05:49 pm 1345567751
August 21st, 2012 at 06:09 pm 1345568958
August 22nd, 2012 at 03:28 am 1345602492
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?