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November and December budget...Yikes!!!!!

November 4th, 2013 at 10:29 am

My ending balance in my checking account for last month, was $570.23 - would have been lower, but I haven't paid my CC's yet. My deposit from work was $1,426.77, for a total of $1,997.00 ($175.00 of this is from savings and is to fund retirement for next month, so I need $175.00 to be my ending balance). Here is my budget for this month and it is frightening:

Beginning balance = $1,997.00
Retirement - $660.00
Bills - $351.00
Pets - $35.00
College - $25.00
CC 1 - $246.96
CC 2 - $171.27
Babysitter - $50.00
Fuel - $120.00
Groceries - $100.00
Unexpected expenses, miscellaneous - $150.00

This leaves me with a balance of $87.77, but leaves me short $87.23 for retirement next month.

If my ending balance this month is $87.77, this is what my budget for next month will look like:

Income will be anywhere from $1,277.57 - $1,447.64 (as our business hours are only 7 hours/day, but we cannot work more than 40 hours/week)
Retirement - $825.00
Bills - $351.00
Fuel - $120.00
Groceries - $100.00
Babysitter - $80.00
College - $25.00
Unexpected expenses/miscellaneous - $150.00
I will be anywhere from -$285.66 to -$115.59 at the end of the year.

Ouch! Not looking forward to the next couple months!

Thank goodness I still have sick days left. We get 42 hours for sick days/year and I haven't used all of mine. If I don't use anymore I will get $300.00 for that at the end of the year. I'm relying on that money to replace the difference in my budget.

3 Responses to “November and December budget...Yikes!!!!!”

  1. Kiki Says:

    I don't understand the retirement line item? Are you funding an IRA? Can you pay some of it in early 2014 for fully funding it for 2013?

  2. Nebraska girl Says:

    The retirement is my Roth IRA. Depositing $165/week to max it out.

  3. Kiki Says:

    So if necessary you could push a small piece to 2014 and have it count toward your 2013 taxes if things get to difficult.

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