What does our budget look like for August? ⠀⠀⠀
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August 2020 Budget:⠀⠀⠀
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🏠 Mortgage: $2,155⠀⠀⠀
💰 HOA fee: $80⠀⠀⠀
☀️ Solar panel fee: 🤦🏻‍♀️ $165⠀⠀
🥪 Groceries: $550⠀⠀⠀
🚙 Transportation: $150⠀⠀⠀
🛠 Utilities: $180⠀⠀⠀
📺 Internet: $55⠀⠀⠀
🏦 Savings: $2,100⠀⠀⠀
🔦 Stuff for around the house: $120⠀⠀⠀
📱 Phone: $80⠀⠀⠀
🚔 Auto Insurance: $145⠀⠀⠀
👔 Clothing: $100⠀⠀⠀
💁🏻‍♀️ Gifts for friends: $125⠀⠀⠀
🏩 Giving: $15⠀⠀⠀
🎧 Subscriptions: $22⠀⠀⠀
🚴🏻‍♀️ Fitness: $21⠀⠀⠀
🏖 Vacation: $250⠀⠀⠀
🥡 Dining out: $250⠀⠀⠀
🥂 Fun money: $100⠀⠀⠀
🏥 Disability insurance: $210⠀⠀
🧼 House cleaning: $200⠀⠀
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Savings: $2,100 ⠀⠀⠀
Total Expenses: $4,973⠀⠀
Budget: $7,073⠀⠀
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A couple thoughts:⠀⠀
1. Last year we were more aggressive with saving because we were trying to max out our Roth IRAs and build an emergency fund. This year our goal is 30% of our takehome pay each month.
2. Don’t rent solar panels!!!! When we bought our house we inherited this payment 🤦🏻‍♀️. ⠀⠀⠀
3. Only I have disability insurance, Braden hasn’t taken the plunge yet. ⠀⠀
4. We got a house cleaner at the start of PGY-2. She comes every two weeks and it’s $100 each time. Best money spent because I have trouble just feeding us both. ⠀⠀
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We’ve both maxed out our Roth IRAs for the year, so now we are going to save for some house projects in the future. The question we have is whether to put it in a savings account or let it sit in the market in a taxable account. Something to ponder! ⠀⠀
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Does your budget look similar? What are categories that are different than ours?