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ACTUAL AVERAGE EXP. 2019NEW BUDGET 2020
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AnnualMonthlyMonthlyAnnual
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INCOME
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Gross Income120,000.0010,000.0010,000.00120,000.00
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Less Tax & Tax Prep-15.00%-18,000.00-1,500.00-1,500.00-18,000.00* We save on taxes via dedcutions, other tax planning and no state tax in FL. But these are estimates.
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Less HOPEFULL Savings-5.00%-6,000.00-500.00-500.00-6,000.00
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NET INCOME96,000.008,000.008,000.0096,000.00
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CAR EXPENSES
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Car Expenses:Car Payment wInterest - Car1
0.000.000.000.00*We only have one car and its paid off
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Car Expenses:Car Payment wInterest - Car2
0.000.000.000.00*Only have the one car.
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Car Expenses:Gas1,132.0094.3395.001,140.00*This will likely be the same.
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Car Expenses:Insurance & Reg2,234.00186.17186.002,232.00*Car Insurance is kind of expensive in FL. Staying the same.
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Car Expenses:Parking & Valet71.005.926.0072.00*This is ramdom, so geing to keep the same.
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Car Expenses:Repairs & Expenses555.0046.2546.00552.00*Most of this gets spent in one or two months. But the average cost is here. Staying the same.
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Car Expenses:Uber305.0025.4225.00300.00*This is ramdom, so going to keep the same.
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TOTAL Car Expenses4,297.00358.08358.004,296.00
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CHILD EXPENSES (ONE CHILD)
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Child Expenses:Childcare/School7,230.00602.50550.006,600.00*Current school Includes tuition and all extra giving. May trim the extras.
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Child Expenses:Classes & Sitting2,318.00193.1730.00360.00*For a portion of 2019 we had a nanny twice a week. We discontinued that.
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Child Expenses:Clothing849.0070.7550.00600.00*Going to get more second hand cloths. They just grow out of new stuff so fast.
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Child Expenses:Diapering307.0025.580.000.00*Looks like diapering is over!
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Child Expenses:Equipment356.0029.6725.00300.00*Things like bike seats, headphones, backpacks. We should need less this year.
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Child Expenses:Toys, Learning & Gifts1,101.0091.7550.00600.00*We probably have too much stuff. New toys almost keep us entertained more than him.
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TOTAL Child Expenses12,161.001,013.42705.008,460.00
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DISCRETIONARY
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Discretionary:Books, Movies, Music400.0033.3333.00396.00*Probably be the same.
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Discretionary:Cash Spending (both combined)
1,210.00100.83100.001,200.00
*This we dont really track, except that we take out cash and spend it. I used to get cash receipts but got tired of it.
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Discretionary:Charity36.003.00200.002,400.00*We want to try and give more.
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Discretionary:Eating & Going Out13,953.001,162.75800.009,600.00*We really need to be better here. If we reduce the cocktails this will come down easily.
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Discretionary:Entertainment1,181.0098.4260.00720.00*We did some expensive day trips last year, will be less trhis year.
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Discretionary:Gift Giving1,966.00163.83100.001,200.00*Gonna trim this down this year. But actual amount includes Christmas, and travel for my mom.
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Discretionary:Travel10,000.00833.33500.006,000.00*We are going to trim down on the travel the year.
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TOTAL Discretionary28,746.002,395.501,793.0021,516.00
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GENERAL LIVING
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General Living:Bank Charges & Fees393.0032.7532.00384.00*We have many bank accounts due to business and RE.
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General Living:Credit Card Interest919.0076.580.000.00*Credit cards will be back down to zero after RE investment Refi.
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General Living:Groceries (inlcuding Alcohol)
12,025.001,002.081,010.0012,120.00*Includes alcohol and routine household products. We shop mostly walmart online. Probably the same.
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General Living:Life & Umbrella Insurance
401.0033.4240.00480.00*Used to have umbrella and life, now only life for me (not my wife). Started in March 2019...10months.
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General Living:Mobile Phone (Family Plan)
2,095.00174.5890.001,080.00*Swicthed from At&t unlimited data to Spectrum Mobile unlimited data.
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TOTAL General Expenses15,833.001,319.421,172.0014,064.00
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HEALTH CARE
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Health Expenses:Health Expenses (Joe)667.0055.5855.00660.00*I dont go to the doctor much. same.
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Health Expenses:Health Expenses (Kristin)
2,322.00193.50100.001,200.00*Kristin visits dermotologists, allergists and a chiropractor. now thats she's gone alot, it will come down.
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Health Expenses:Health Expenses (Child)
487.0040.5840.00480.00*We go to a doctor we really like for him that is not covered by our insurance. oh well. same.
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Health Expenses:Dental Insurance341.0028.4228.00336.00*Might be a waste of money, but keeping for now.
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Health Expenses:Health Insurance5,647.00470.58470.005,640.00*We end up getting a ACA subsidy because after our bsuiness expenses, our AGI is under 80K.
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TOTAL Health Expenses9,464.00788.67693.008,316.00
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HOUSING EXPENSES
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Housing Expenses:Household Purchases & Expenses
3,762.00313.50100.001,200.00
*This includes "stuff for the house", home projects and repairs. Not all mandatory. It was high because we moved in.
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Housing Expenses:Housing Payment (RENT or PITI)
11,412.00951.00951.0011,412.00
*Only taxes & Ins. With proceeds from other last house and other RE sales, we (luckily) own our house outright.
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Housing Expenses:Housekeeper0.000.000.000.00*We want to hire a housekeeper, but have managed not to (so far).
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Housing Expenses:Lawn & Garden1,368.00114.00114.001,368.00*Grass cuttiing, fertilizer, tree trimming. Same.
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Housing Expenses:Pest Control1,248.00104.00104.001,248.00*There are a lot of bugs, mosquitos and termites in FL! Reglular treaments help a lot. Same.
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Housing Expenses:TV, Internet, Alarm1,151.0095.9296.001,152.00*We don't have regular cable now, and no alarm currently. We do buy and rent programs. Same.
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Housing Expenses:Utilities (Power, Water, Gas)
4,293.00357.75357.004,284.00*You use a lot of AC in FL! Same.
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TOTAL Housing Expenses23,234.001,936.171,722.0020,664.00
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PERSONAL
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Personal:Clothing, Grooming: Person 1453.0037.7538.00456.00*My wardrobe is pretty simple, and I go to a barber. Same.
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Personal:Work Related and/or Bus. Expense 1
3,216.00268.00500.006,000.00
*I have a consulting business and blog, but my expenses are pretty low. I may do more marketing though.
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Personal:Clothing, Grooming: Person 23,521.00293.42200.002,400.00
*The hair appointments are the killer. She did the color herself for a while, but has gone back. Hopefully we can trim.
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Personal:Work Related and/or Bus. Expense 1
0.000.000.000.00*Same
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TOTAL Clothing, Grooming:7,190.00599.17738.008,856.00
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OVERALL TOTAL EXPENSE100,925.008,410.427,181.0086,172.00
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NET-4,925.00-410.42819.009,828.00
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MONTHLY NET +/--4,925.00-410.42819.009,828.00
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SAVINGS TOTAL FROM ABOVE6,000.00500.00500.006,000.00
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ANNUAL NET WORTH CHANGE1,075.0089.581,319.0015,828.00
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OTHER POSSIBLE CATEGORIES
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GENERAL:
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Renters Insurance
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Aging Parent Care
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Gym Memberships
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Club Memberships
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Expensive Toys
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OTHER UNSECURED DEBT PAYMENTS:
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Student Loans (Principle & Interest)
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Credit Card Payments (Principle & Interest)
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Personal Loan Payments (Principle & Interest)
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