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To lay the last bit of our financial foundation, I wanted to share our monthly budget.  Our exact expenses change a little month-to-month, but this is the basic picture of our spending:

  • Mortgage – $900
  • Emergency Fund – $500
  • Tax Account – $400
  • Home Account – $350
  • Roth IRA – $300
  • Vacation Account – $250
  • Cash – $200
  • Extra Roth IRA – $120
  • Extra Masters Money – $125
  • Car Payment – $330
  • Car Insurance – $110
  • Gasoline – $150
  • Electricity – $150
  • Cable & Internet – $100
  • Cell Phones – $80
  • Water – $30
  • Garbage – $20
  • Groceries – $300
  • Fast Food/Restaurants – $200
  • Misc Bills/Car Maintenance – $200
  • Entertainment/Misc Fun ($75 each and $100 joint) – $250
  • Medical – $100
  • Maid Service (biweekly $45) – $100
  • Lawn Service (biweekly 8 months a year) – $50
  • Netflix – $20
  • Pet Expenses – $100
  • Massage Envy – $50
  • Total = $5485

That comes to $65,820 a year.  We make $78,000 before taxes plus the $4000 a year my hubby makes as a sports official.  Taxes, the pension, the 401k, and our benefits account for the other $16,180.

Needless to say, I am anal enough to keep up with every single expenditure.  Unplanned expenses are taken from the appropriate target accounts.  Also, before anyone asks, I contribute considerable time to my charities and we both use some of our “fun” money for the charities of our choosing.

I didn’t start this blog to brag.  This is to show that a teacher and an office worker can use their money as a considerable tool to build wealth in less than 5 years.  By spending less than you earn and saving the rest, you can create wealth.  All of my favorite blogs boil down to that basic idea, yet people question it’s possibility.  Saving is possible…it’s even fun.  I never worry about making our next mortgage payment or having enough to pay our bills.  That is priceless to me.  🙂

Would a budget like this help you?