Every six months, I take some time to review all my necessary expenses. These are typically housing, food, transportation, insurance, utilities, and loan interest. There’s a FAQ below if some of these don’t make sense.
| October, 2007 | |||
| Expense | Cost | ||
| Housing | $987 | ||
| Transportation | $200 | ||
| HELOC | $41 | ||
| Groceries | $50 | ||
| Internet & Cable | $43 | ||
| Gas and Electricity | $40 | ||
| Cell Phone | $40 | ||
| Property Insurance | $25 | ||
| Water | $15 | ||
| Home Phone | $7 | ||
| Total | $1448 | ||
| June, 2007 | |||
| Expense | Cost | ||
| Housing | $1,049 | ||
| Transportation | $325 | ||
| HELOC | $89 | ||
| Groceries | $50 | ||
| Internet & Cable | $43 | ||
| Gas and Electricity | $40 | ||
| Cell Phone | $30 | ||
| Property Insurance | $25 | ||
| Water | $15 | ||
| Home Phone | $7 | ||
| Total | $1673 | ||
| April, 2007 | |||
| Expense | Cost | ||
| Housing | $1,049 | ||
| Transportation | $325 | ||
| HELOC | $107 | ||
| Groceries | $50 | ||
| Internet & Cable | $43 | ||
| Gas and Electricity | $40 | ||
| Cell Phone | $30 | ||
| Property Insurance | $25 | ||
| Water | $15 | ||
| Home Phone | $7 | ||
| Total | $1691 | ||
| October 2006 | |||
| Expense | Cost | ||
| Housing | $1,049 | ||
| Transportation | $325 | ||
| HELOC | $143 | ||
| Groceries | $50 | ||
| Internet & Cable | $43 | ||
| Gas and Electricity | $40 | ||
| Cell Phone | $30 | ||
| Property Insurance | $25 | ||
| Home Phone | $7 | ||
| Total | $1712 | ||
Q: These seem really low. What’s up with that?
A: These represent half our overall expenses. We are a two income family and split the expenses down the middle.
Q: That food budget still seems low, even if it’s just for you.
A: The company I work for provides me with lunch and dinner each day. That’s a huge savings as you might imagine.
Q: Your transportation costs seem low as well.
A: My car is paid in full, leaving gas and insurance the two major bills. My company is less than 3 miles from my home, which keeps my gas expense low.