Would anyone be willing to help us with a budget?
Hey guys I would love some help on a budget. We are ready to buckle down and meet some goals. I’m going to list out income, debts, goals.
I would really appreciate if someone could help us make a budget that you would look at and be like “yeah that’s a solid budget”
Our take home pay combines is 6500 per month. That income is after our health insurance, retirement, pension etc is paid.
We have 3 debts that we have to keep we can’t sell and we want to pay off.
20k wife’s car
20k my car
8k lawn mower (I have a massive yard almost 8 acres this is a must)
10k per year in vacations (yes you are going to hate this one. We don’t have kids and won’t have kids. We take 2 trips per year with my wife’s family that are about 5k each) both of this years trips are already paid for we pay cash for them. We plan to continue this.
We live in a camper on land we own outright. We plan to build a house here once we are on the right track.
We have 5,000 saved in our emergency fund and no other debts.
Our expenses are just the basic ones everyone has. Internet $100
TV $35
Car insurance $250
Land insurance $125
Pet insurance $160
Groceries $500
Trash $35
My car $400
Wife’s car $400
Lawn mower $275
How do we attack this? Right now we are saving $1,200 per month, and paying 1k per month in debt. Right now we are working on the lawn mower loan paying it off as fast as possible.
Where I struggle on this is at some point when we get the lawn mower paid off, a good portion of 1 of the vehicle loans, and we have around 15k saved we will want to start a house. I expect our construction cost to be around 250k so around 2,000 per month all in on a house payment. That scares the crap out of me.
I’d love to make sure we are on solid ground.
If you are doing the math and wondering where the extra is going yes I’m sure we are spending some in places we shouldn’t but we do always make sure biweekly $700 is going to saving and $500 to paying down debt.