Monday, November 1, 2010

Day 18: November Budget

November 1, 2010

All right, down to business. Mike and I are trying to live on one paycheck while the other paycheck goes completely towards paying off debt. After taxes, health insurance, 401(k) and God knows what else, my monthly "take home" pay becomes approximately $4,350. Sound like plenty? That's what we thought, too! But then we looked at our expenses for November: 

Where did all the money go?  Your first thought: Get rid of the housekeeper and the massage!  Very good points.  The massage is definitely under consideration - Mike gets a massage once a month because of an injury.  He is trying to evaluate whether this is really a "necessary" expense at this point.  The housekeeper is also under consideration although I may have a little more trouble letting it go.  I know, I know.  You think I'm being a little ridiculous - and maybe I am.  But I gladly gave up cable - a "necessary" expense in most households - in exchange for keeping the housekeeper.  Or maybe I'm just trying to grasp at some sort of justification.  Interested to hear what you all think…..

As far as cutting any remaining expenses, I think groceries and supplies might be estimated a bit high.  But I swear every time we go to Target we don't walk out of there without spending at least fifty bucks.  Weird how that works.  Plus we have really cut back on eating out - I think we ate out once in the last two weeks.  Before we cut out restaurants, we would spend about $80 a week at the grocery store for breakfast, lunch, snacks and five dinners.  Now we are estimating $120 a week with no dinners out (plus the $50 Target fee).

There are a few one-time expenses during November: Duke's sitter is only because we will be going out of town for a few days (business idea: dogswap service) and haircuts don't happen every month.  As we go through this process together, hopefully we can figure out a way to bring in more income (insert business idea) or get rid of some expenses we currently have.

Expenses Already Cut: Cable, Spending Money, Eating Out

Additional Expenses to (Maybe) Cut: Housekeeper, Massage, ???

Future Roadblocks: Duke needs a visit to the vet ($); Bridesmaid dress ($$)

Frustrations: We could buy a Tesla with the money we spend on student loans every month.


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