Saturday, June 30, 2007

June Net Worth & July Budget

Our net worth for June skyrocketed due to settlement with Bank of America. It went up a total of $8,417, though our savings were wiped out from it. Well worth that feeling of a little more freedom. Our budget for July consists of the following:

$1400 Rental Income
$2700 Day-Job Income
$100 Misc Income (Keeping estimate on the low end)


$990 Mortgage (going up in August to $1150)
$300 Auto Gas (On the high side, in July we used only $240)
$145 House Gas
$40 House Phone
$50 Water
$89 Electric
$158 Cell Phone (Yes, I know, it's high)
$95 Life Insurance
$255 Ticket (didn't wait long enough for a crossing guard to ok my turn on a green light)
$110 Debts
$30 Toiletries
$1400 BofA (carry-over, utilized 7/1 day paycheck to take care of full bill on 6/30, I know bad idea but my paycheck cleared early due to 7/1 being a Sunday).
$547 Emergency Fund

One major thing missing this month is our tithing. We really need to build up that emergency fund again, so I am willing to delay tithing for a short period of time (just July) so that we can get it built up. I'd hate for us to have a financial problem and having to go to the church again for help. In the past year they helped us with getting our water line replaced and turning back on our electricity.

Other minor items missing is our fun money, our dining out money, as well as money for car maintenance. In August those items will be reinstated, but July is going to be buckle down and have free fun together at the library or parks or in our growing garden.


Danielle said...

im sure God will understand about tithing. im sure He wants you to pay that debt off

i do have one question or thought rather, and i have been asking myself this same question. why do you need a house phone when you have cell phones. i am going to shut my house phone off one of these days as soon as i get off my lazy butt and call them. i am also thinking of turning off all the cable and just having internet (our cable, internet, and phone are all on one bill). i am subscribed to the blockbuster online movie rental so i could just use that to watch my favorite shows when the season comes out on dvd. and at around $21 a month it is a lot cheaper then paying 200 for all three of the afore mentioned emenities (sp?).

Sick of Debt said...

There's a couple of reasons we still have a house phone:

- My wife has a pacemaker and the remote tests are done with that line. It uses the old modem method where you put the phone on a headrest for it to communicate.

- We have 1 cell phone between us, so if someone takes the cell phone (like me), she still needs a phone to reach someone in an emergency or just needing to talk. I know the bill is very high for 1 phone, see past posts about it.

- Our DSL line is bundled with our house phone and the DSL I consider a business expense (my renters use the connection as well as I receive my on-call work through there and my day job needs it sometimes on the weekends).