31 Days To Fix Your Finances, Day 8: Breaking Down Your Expenses
Today we're listing expenses that are not related to work. So my list:
Mortgage - $6,660
Phone - $840
Electricity - $900
Gas - $180
Fuel - $2,100
Water/Trash - $600
Student Loan - $2,160
Car Insurance (not actually monthly) - $960
Car Tags - $190
Inspection stickers - $20
Car Maintenance - $150
Home Insurance - $600
Property Taxes - $1,800
Maintenance Fee - $360
Groceries - $3,600
Kids' activities - $240
School lunches - $350
Car Payment (February is last payment!!) - $180
Paper products/cleaning supplies - $120
Gifts - $1,500
Cable - $1,560
Entertainment - $60
Clothing - $200
Eating out - $720
Medical costs - $300
Total - $26,350
I feel like I must have left something out because that doesn't seem high enough. If I figure it out, I'll edit this.
Next step is to add 10% to that number for incidentals. New total = $28,985Weekly total = $557.40
Final step is to divide that by our true hourly wage to figure out how much we work just to pay the standard bills - $557.40/$12.59/hour = 44.27 hours
Of course, this is double counting the fuel, so it's not perfect.
2 comments:
Out of pocket health expenses?
That's a good point. Normally it would only be about $200 per year, but as I posted before, this year it was A LOT more. One trip to the emergency room will do that. I'll figure out had to add it and fix that.
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