2016 has brought some changes for our budget, some good, some challenging. We took a hit in the form of higher health care premiums, but thankfully, we have also lowered our utilities bill to manage some of the loss.
For those who are curious, I also thought it would be good to give some details of our budget.
- We are homeowners living in a very low-cost-of-living area in the Midwest (Kansas).
- We have one child who has food sensitivities (not allergies) which means I have had to find ways to accommodate a gluten-free diet.
- Our home is about 1,600 square feet including the finished part of the basement, and uses natural gas for our water heater, central heating, stove, and dryer. Everything else is electric.
- We have four children as of this writing ages 8, 6, almost 5, and 1 1/2. They all love to eat!
- The income listed already has taxes, retirement, and health/dental premiums taken out.
- My husband works about 1.5 miles away from where we live, and we are a one-car family, which helps us to save on insurance and gas.
- I homeschool, which keeps us from having to have an extra vehicle to take kids to-and-from school.
- Additional needs are paid for with the two extra paychecks my husband receives (he's on a 26 payment-per-year plan). While we set this money aside for spending, we try to put as much of our tax return each year toward paying off debt.
Take-Home Income: $2928
Total Expenses: $2927.41
Tithe - $385
Mortgage + Security System - $713
Water, Sewage, and Garbage - $75
Natural Gas - $49
Electricity - $81
Verizon/Cell Phones - $52
Internet - $38.85
Gasoline - $55
Oil Changes - $7
Groceries, toiletries, and diapers - $410
Subscriptions and car registration - $20
Spending Money - $40
Home Care - $20
Medications - $10
Orthodontics - $95
Life Insurance - $65
Auto Insurance - $56.02
Car Loan - $294
Student Loan Repayment - $465