So if you are poking around this page that means you’re like me and you like knowing other people’s financial situations. I guess I really have no problem letting people ask questions about my money. Call me crazy, but if you are looking at this article than you have at least SOME interest also.
So here is how this little gem work…
- INCOME pretty self explanatory. This is my monthly pay from my current job. If you have read my other posts, than you know I also tutor to make some spare change. I decided I didn’t want to include this in the income section of my budget as that income fluctuates each month and I did not want to build my spending habits around inconsistent income. I include the tutoring income at the bottom of the spreadsheet and I underestimate it for each month. I’ve been averaging $1,000 a month, but I still don’t want to change it’s current $500 value…I know that makes my budget less accurate, but less accurate in a good way right
- INVESTMENTS, TAXES, and EXPENSES. Again, pretty straightforward so no real need to elaborate. I will mention, however, that I DO have health insurance, but since I am 23 I was able to stay on my parents plan (you know I’m gonna ride that out till I’m 25 and get kicked off their policy). I included a 5% increase section on my expenses because sometimes ‘ish happens (consider it like a mini-monthly emergency fund).
- GOALS, BILLS, and PRIORITIES. The top right section is where I set out my financial goals on January 1 of each year. It starts with what I had in my accounts on 12/31/08 and I make assumptions as to what my accounts will look like come 12/31/09. The section below this is where I keep a list of my fixed monthly expenses…otherwise I’d be forgetting to pay that darn cable bill. And lastly, below that is where I list of the priority of all of my expenses. I did this so if I’m ever in a situation where a ninja stole all my money and I was fired from my job, I would know exactly how to spend each precious dollar that I had. Basically I put the most important bills at the top.
So that’s my life in a spreadsheet form. Hopefully it makes sense to you all, but if it doesn’t feel free to shoot an email or comment and I’ll let you know how it works.
Enjoy,
{ 2 comments }
Very interesting to see how another 23 year old is budgeting. Just curious, how is your electric bill only 20?!?! And do you share an apartment with someone? What about a cell phone? Most of our numbers are the same except rent, utilities, I pay part of my Health insurance premium from my check, and my student loan payment is much higher. I can barely break even each month.
Hey Tim,
Thanks for checking out my budget. I live in a two bedroom apartment with one other guy and we split the electricity bill which is around $40 a month. As for the cell phone…. I was paying my cell phone bill, but in October last year was able to go on my dad’s companies plan so I have no cell phone bill now. My student loan minimum right now is $178, but increases to $220 in one year. I am fortunate that I can be on my fathers companies health insurance and cell phone plan because each month it saves me about $150.