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Archive for September, 2006

September Budget

September 2nd, 2006 at 01:07 pm

Well, I finally have my September budget in order. Of course I know I should have done it before the first of the month, but I just got my first paycheck yesterday (YAY!!!) and didn't know how much my take-home pay would be till then. So after several drafts...

September Budget
Take-home pay: ~$2350 monthly

Rent: 640
Additional deposit: 55*
Grocery: 160
Toiletries/household: 40
Phone: 44
Electricity: 77
Transportation: 76
Internet: 11
Netflix: 6
Gym: 75
Clothing: 50
Laundry: 20
Dining out (entertainment): 50
Dining out (lunches/convenience):50
Entertainment: 50
Blow money: 50
IRA: 100
Emergency fund: 100
Giving: 100
Credit cards: 696**

Notes:
*: They raised my rent this month by $55 and to add insult to injury they want me to send another $55 this month so that my deposit is still equal to one month's rent.
**: The minimum payment is somewhat less than $100. I'm following a slightly modified Dave Ramsey plan (you'll notice the $100 to emergency fund and $100 to retirement don't really fit in his step 2) so that whatever was not accounted for in the budget is going straight to my credit card debt. And lest you chastise me terribly for luxuries like an expensive gym (gasp!), a cell phone (oh no!) cable internet, and a $160 grocery bill for one person- yes, I could cut more. I could obviously cut more and would if I were deeply in debt.

But at this stage- if I put close to $700 on my credit card every month, I'll be out of debt in 3-4 months. I don't have a car payment, I don't pay for gas, I don't have a mortgage or insurance or any of that stuff. My expenses are relatively low, and I don't really have a problem with some luxuries in my life when I'm saving nearly half of my net income.

Though I am going to be happy when I'm out of debt!

Edited to add: I can't believe I forgot a category for 'giving!'. Fixed now. Next month budgeting will be easier.