Here is a sample monthly budget. It was our actual monthly budget for 2006. It was based on a total after tax income of $2486.00 per month. At the time, we lived in Wichita, Kansas and owned our home, a 1600 sq. ft. 3 bedroom, 2 bath bi-level on 1/2 acre.
A couple of notes about the budget:
- Our credit card debt was at 0% interest. We had to buy a "new to us" used car and our son had medical problems when he was born. Those were put on the card to save interest that they hospital and doctors would have charged.
- All eating out was included in the Social-Entertainment category.
- Our grocery budget included food only. Our food budget was for two adults and 3 children, 8,7 and 3. I buy almost everything at one store and stock up buying only sale items from other stores. I can get paper goods cheaper at Wal-Mart than the grocery store, so I buy them there.
- At the time of this budget, we did not have medical insurance, which we estimated would cost $400 a month. (Note that there was $400 available in the budget for that expense.)
|Tithe (church donation)||$300.00|
|Mortgage (Includes taxes and insurance. Also includes an extra $30 every month toward principal.)||$855.00|
|Sewer, water, and trash||$30.50|
|Electric and gas (on the high side)||$200.00|
|Gas for car||$120.00|
|Credit cards (car payment and medical)||$100.00|
|Internet (The book pays for it.)||$00.00|
|Uncovered Medical Expenses||$75.00|
|Wal-Mart (includes all paper goods, some clothes, soap etc.)||$125.00|
|Clothes (mostly from yard sales and thrift stores)||$30.00|
|Car repairs and tags||$75.00|
|Haircuts (Tawra and Elly)||$20.00|
|Social and entertainment||$30.00|