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Reworked my Budget

August 18th, 2019 at 09:56 am

One of the things I enjoy the most is working on my projected budget for the next several months. I really nerd out on this, and it gives me immense joy. Maybe I should have been an accountant. But, I think it's working on MY numbers that brings me joy. I doubt that managing other people's money would make me as happy.

Anyway, now that I have purchased a car, I can more accurately budget out until April to see what's possible. It may not happen exactly like this because of my variable income. But, with conservative estimates of what I might be able to bring in, here is what I can accomplish:

By end of 2019:
* Pay off my last remaining consumer debt. Another $9,300.
* Save $2,000 towards my 10K EF goal.

By April 2020 when I leave my full time job, here is what I can accomplish:
* FEBRUARY - Pay up to $1,000 on expenses on the cruise. I've never been on a cruise, so don't know what to budget. Some of the port excursions and other things look a bit expensive. I don't think I will go over $1,000 anyway for both my sister and myself. She will offer to pay, but this is a birthday trip for her, so I want it to be all expenses paid for her. The only thing she will be paying for is her flight to Florida.
* MARCH - Pay $1,200 for auto taxes for the year (I am not sure how much it will be. This is a little over what I am paying now yearly for auto taxes)
* MARCH - Roll any income tax savings into the EF
* APRIL - Save $10,000 EF
* MONTHLY - Keep paying $250 extra each month towards the mortgage
* MONTHLY - Leave $300-$400 wiggle room in each month's budget for unexpected expenses. Anything that doesn't get spent will get added to a Global Slush Fund for the year which I hope to get to $10K by August of 2020. This will prevent me from having to dip into my EF for anything I need to take from savings. At the moment, the EF is the only major savings I have that isn't jointly held with my sister. So, that's where I pull money from. But, with a large Slush fund, I shall be able to leave the EF only for emergencies.

By end of 2020 (in addition to the above):
* Save $10,000 in a global slush fund
* Save $2,000 towards my 10K EF goal.
* Pay for ductless heat pumps for my house (around $6,000)
* After the above are accomplished and paid for, throw any remaining money in the budget towards the mortgage.


P.S. The person who was going to come and see my old car fell through. They messaged and canceled and said they found another car. I did get several scammers offering to pay me in cashier's checks, or to mail me checks if I would ship my car to them. Blocked all of those numbers.

1 Responses to “Reworked my Budget”

  1. rob62521 Says:

    Maybe working on your numbers gives you joy because it means you are in control. Whatever it is, glad you have good sense and can plan ahead.

    Sorry about the scammers. It seems there are always folks who want to take others.

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