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2012 Monthly Family Budget
This week has been all about getting the family budget together. Earlier this week the two of us pulled out the spreadsheets I fixed up and went over our plans for the family budget next year. Here is what we came up for our family's monthly budget for 2012:
- Mortgage: $850
- Extra Mortgage Payment: $175
- Groceries: $350
- Home Association Fees $100
- Electricity $100
- Gas: $15
- Cellphone $150
- Internet/Basic Cable $75
- Car Insurance 87.58
- Dining Out: $100
- Student Loan: $150
- Entertainment: $35
- Shopping (Personal Care/Household/Baby Stuff) $165
- Irregular Bills: $60
Few Notes on Our Family Budget
I'm rounding the numbers a bit, but you're pretty much looking at our family's expenses. It's based on our actual spending in 2011. We don't anticipate big changes with them next year, but we've now included a bit of buffer for our irregular bills that happen through out the year, like property taxes and we've also estimated on the high side for electricity (usually lower in the winter).
As far as eating out goes we've discovered 2 things while we were hanging with our baby girl at home.
- We didn't miss eating out as much as we thought. We still go out, but we do lunches which saves us a bit money and tend to have smaller crowds than dinner.
- We can cook some dinners better than restaurants. With time on our hands we've kicked up our cooking skills a notch (nowhere near chef level, but an improvement). My husband can make a fantastic ribeye steak dinner than's been better than most places we've had at restaurants. Having friends over for dinner also keeps us in the loop with our buddies.
We also need to get the digital antenna up and cancel the basic cable we have left. I admit we've been procrastinating on that and there really isn't a good reason. We watch Netflix and some network television, but that's about it. It'll knock down the bill from $75/month to $55/month.
I've left our charitable contributions out of the budget because I believe that's a personal and private decision. As I mention before, I wanted to increase our giving in 2012.
Thoughts on Our Family Budget
Chatting with my husband about the family budget was actually a bit of fun (there I said it!). He's a great at analyzing long term goals and he's great with coming up with ‘what ifs'. All in all I'm really happy with where we're at with our finances. I'm just hoping that we'll be able to stick with the plan.
Photo Credit: sunshinecity