Our debt payment was pretty darn pathetic this month at $400. January and February will both have low debt payoffs, but then in March we should be back in the fight. We are changing the way we budget to deal better with credit cards and income. I’ll explain more about it soon. I’m really excited about the transparency and organization this change will bring to our budget, but it takes a couple months to get going.
Regular: $2950 (after taxes) We’re not sure why this is $114 less than normal, but we’re looking into it. You can read more about our income here.
Etsy: $440 The month started well, but ended up being pretty much average.
|Tithing||$349||Our regular 10% tithe on our income.|
|Rent/Mortagage||$0||$0||Hooray for the basement!|
|Gas||$500||$473||Hooray for being under on gas!|
|Utilities||$0||$0||Included in our free rent. My in-laws are so generous.|
|Groceries||$300||$317||After spending just $92 last month, we had to do some stocking up on staples like milk, cheese, tortillas, bananas, and sour cream. We also spent about $60 on 120 lbs of apples and 30 lbs of oranges.|
|Cell Phones||$20||$20||Our dumb phones on the archaic family plan are $10 each.|
|Clothing||$30||-$13||We actually came out ahead in this category. I returned some of the dress shirts I got for my husband for Christmas because they didn’t have a pocket on them, which is maddening for someone who uses his pocket all the time. We spent $21 on dry cleaning and $22 at the thrift store for winter coats for the kids next year, some other great deals on things they needed and some dress shoes for my husband.|
|Home & Office Supplies||$40||$ 18||Besides toilet paper, this includes $6.45 for the Dollar Shave Club, which we are loving by the way. This is really going to save us money over Mach3 Cartridges.|
|Entertainment||$0||$0||We hung out with ourselves and friends for free!|
|Health Insurance||$453||$114||Our high deductible plan didn’t meet the new healthcare standards, so we got a plan on Covered California. At our income level and family size we get a subsidy that makes our premium low. I left our old premium on the budget for comparison.|
|Dental||$22||$122||Our $22 dental discount plan and the last $100 for the dental work Mr. SixFiguresUnder endured back in October.|
|Lawyer Marketing||$450||$368||Back to the standard half-page ad in the monthly publication.|
|Lawyer Marketing Food||$25||$16||Missed a networking meeting this month and opted for a cheaper breakfast at another meeting.|
|Law Practice Expense||$60||$45||The $45 practice management software subscription.|
How did you do on your financial goals in January?