Example of a household budget how to#

I also have a YouTube video that goes into more depth on how to set up sinking funds to work for your budget. Instead, we just pay for the tires from the auto account and we’re on our way. This system works really well for us because we get to set aside a little bit of money over time without having to somehow come up with $400 to buy new tires in one month. We have a separate account for Christmas, auto-related stuff, emergency fund, slush fund (buffer account between our checking and emergency fund), and vacations. We use what I call the “fund” budgeting system which basically just means we have separate accounts set up for various things. You can read more about the different Healthcare Sharing Ministries here. This all takes a lot of planning and when those appointments are coming up, I add in the line item for those expenses (I just call the doctor and get all of the rates so I have an estimate before I even walk into the appointment). So, anytime our kids go to the doctor’s office we have to pay out of pocket and plan accordingly.Īlso, because we don’t have health insurance, we have to pay for dental out of pocket as well. This does mean that we have to pay out of pocket for anything that is less than $500. We do not have health insurance and instead pay for Christian Healthcare Ministries. Update: I have not paid myself in a year so as of 2020 my income is no longer being used by my household.Ī lot of folks have felt that because I earn an income from my blog we aren’t a one-income household, but the reality is that my income doesn’t pay for anything that we actually need. are taken out of my $500 monthly paycheck. ***I’m an LLC that files as an S-Corp for tax purposes which means that I have to run payroll and $467 is my take home pay after taxes/fees/etc. In fact, I only pay myself $467 a month from my business. My income is only used to pay for Charlotte’s preschool tuition and acts as “extra” money to pay towards our mortgage or save up for a specific goal. What I mean is that is any and all of our household expenses (mortgage, insurances, groceries, etc.) is paid 100% by the income my husband earns. And yes, I do earn an income from my blog – but my income is not used for our household. Yes, we are a one-income family that lives off my husband’s income that he earns from his own business, Southern Craft Remodeling. But before I dive into what our actual budget looks like, I need to address a few things first. Folks have literally ripped apart our budget and saying terrible things about our family because we “don’t tithe enough” and we should be saving more and the list just keeps going on…īut I finally decided I was done with the naysayers and after several emails asking me to share our family’s budget again, I’m finally ready to start sharing this part of our lives again. The thing is, I’ve loved sharing my family’s real (as in actual) budget over the years, but without fail, those posts receive some very harsh comments and feedback from others. To be honest, I really don’t want to publish this post.

Example of a household budget