Well, it’s a new month, so it’s time for a new monthly report. We are currently trying to pay off our credit card debt. Right now, we’ve got all credit card debts paid off except for my medical bills. Those had the lowest interest rate, so we saved them for last. It’s so exciting to see a light at the end of the tunnel!
Anyway, here’s our overview for June:
Hubby’s Income: $2,682
My income: $670 + $53 (coin deposits) = $723
- Hubby’s Tithes: $269 – we pay 10% of our net income to tithes. It’s something we feel strongly about, and will not ever give up doing. These numbers obviously vary a bit every month, based on our income.
- My Tithes: $72
- Charitable: $26
- Mortgage: $1,017 – this is a fixed expense. Our mortgage is actually $1,016.83, but I like to round up to the nearest dollar. Makes it easier for me, and hey, $0.17 extra goes to the principal each month, ha ha.
- Phone: $68 – this is for our 3 cell phones. We don’t have a landline phone.
- Utilities (Electric, Water, Natural Gas): $125 – gas bill was much lower, electric bill was higher. Time to start hanging our clothes to dry!
- Internet: $51 – This is a fixed expense.
- Medical Bills: $250 – I’m shocked and relieved that my bill wasn’t bigger after my ER visit in April. Thank goodness for insurance! (sometimes)
- Car Insurance: $72 – our car insurance is going up in July because we’ve added a second car to the plan. This number will be higher soon.
- Life Insurance: $32 – this is a fixed expense.
- Car payment: $231 – this is a fixed expense (until we’ve paid off the CC debt, then we’ll start paying more on this)
- Groceries: $200 – we usually budget $250 – $300 to groceries, but since I have the summer off work, money is more tight and this will be lower until I’m back at work again.
- Car gas: $100 – not having to drive my son 65 miles to and from school every day, our gas bill is down from it’s typical $210 a month.
- Spending money: $100 – $60 of this went towards savings for gymnastics for my daughter. $15 of it went to Scout camp for my son. I honestly don’t remember where the other $25 went.
- Debt: $792 – this is what money we had left after paying other bills. Anytime we can manage to pay more than $500 on it, I’m happy.
Total Expenses: $3,405
We were able to budget every dollar (every penny, really) using the YNAB software. It’s been such a huge blessing for us to have that tool! Since we started using it back last September, we’ve managed to knock our debt down from $9,091.40 to $1,870.54. It’s over $7,000 of difference. We would probably be closer to being completely out of debt, but we have had some issues with medical bills and a car accident that bumped our debt number up. That’s okay, I’ll still take $7,000 gone! If you ever look into the software, let me know…I can get you a discount!
The next few months (July, August, and September) tend to be tight months budget-wise for us. My last paycheck came in June, and since I’m off work for the summer, I won’t be receiving a paycheck again until September. Usually my income is what we try to use for groceries and gas money, so we’ll have to be cautious. In all reality, we probably just won’t be paying off as much debt for a bit. Our garden is growing, and we’ve been able to save money on breakfasts by eating fresh raspberries every day for the last few weeks. Hopefully we can use what we’ve got growing to save a bit for the next little while.
Original Debt: $9,091.40
Current Debt: $1,870.54
Paid off so far: $7,220.86
So, that’s where we’re at! How did your month go, financially?