I decided that I want to post my monthly budget here, so that everyone can see exactly where my money is going each month. My budget is done according to my paycheck from my primary day job, and then anything I earn waitressing is gravy on top of it.
Income: $1,799 (I actually kind of took a small pay cut this year because we now have to pay $20/month for our health insurance, while previously we did not, plus we are on a pay freeze. Sucks).
Rent: $695 (I live in a one bedroom apartment by myself–if I moved to a two bedroom and took on a roommate I could slash this a whole bunch, but I like my privacy).
Discover Card payment: $136
Best Buy account: $35
Cancer Insurance: $22 (similar to AFLAC)
Renter’s Insurance: $25
Co-pays for health stuff: $70
Christmas savings: $25
Left over: $138
As you can see, everything is really tight–although on paper I am supposed to come in at $138 left over, there are always other things that come up. So, I was bleeding more money than I make and that’s why I owe money on two different accounts right now. I was using those accounts to take care of expenses when I’d run out of money before my next payday. At my primary job I get paid once a month, so it used to be problematic.
The fact that I don’t have a car payment, and that I opened a Flexible Spending Account to pay for prescriptions helps a bit. But, I under-funded the FSA this year, so the above mentioned co-pays I am still doing out of pocket. Ouch.
So, what is the spending and saving plan for my income from Coyote’s? Well…it’s pretty simple. I have decided that:
1) If I have any extra medical expenses like doctor co-pays, it’s going to come out of my Coyote’s money. This month, on top of the $70 I budgeted for certain copays that I need every other week, I also had to budget $80 to see the dentist and $50 to see a doctor. The dentist and doctor are quarterly expenses.
2) After I deduct medical/dental stuff from Coyote’s money, the remainder is my debt snowball. So, at the end of September, whatever is in my second checking account is going to go onto the Best Buy account.
Rinse and repeat for October.
And, like I said, I opened a second checking account for all my income from Coyote’s so that it’s easier to track how much I have. Plus, I know that mixing it with all my “regular” money could be a dangerous game. I’m protecting myself from myself.
Hope this makes sense, and is helpful to anyone attempting to make a budget of their own. 🙂