The only thing we have in our housing category is our storage unit and I put it in there because thats where all our stuff is the things that would typically be in a house that if we had a home so its kind of like a home, But with no power – and although it does have air conditioning in our utilities – classification which is expected to be five to ten percent, we have it set at 2 and in our energies classification we have our cell phones at two fifteen fourteen Skype at $ 25. Therefore they are now in the food classification and in the transport classification, which is expected to be 10 to 15 percent. And its a lot of cash at the beginning of the year, so that just helps out with that and then this month we are not putting any cash to our emergency fund at all, due to the fact that its already there in the way of life category, we have actually broken the lifestyle Category down to subcategories, which are similar to the categories that we used to do, and way of life is between 15 and 25 percent of your earnings, and some of these classifications, as I stated I dont think, need to be way of life. We have 399 for Amazon music, so under Malina in the way of life category we have before in aftercare at 6 hundred and 8 dollars swimming lessons at $ 90 Spanish classes at 2 hundred and eighty dollars miscellaneous school costs at $ 25, the book fair for $ 30 And this month is school pictures, so fifty dollars for school pictures, then in our money category, which we likewise put under way of life, we have twenty dollars for the dry, cleaner, two hundred dollars for blow cash. Thirty-Five dollars for her cut from ratio, forty dollars at Sally Beauty, Supply and a hundred dollars for random family fun out in my youtube category, which is also thought about lifestyle.
https://www.youtube.com/embed/QZ0cJx3kTZw ItS time to lastly reveal our brand-new family budget plan. This is so amazing, Wendy, Wendy, Wendy Youre, so AMAZING. I completely stole that from Moana Seriously Wendy youre getting delighted over a lot of numbers on paper. ItS just a household budget plan woman Seriously. We are exposing our new and enhanced home budget plan all based on portions trying to keep all of our numbers under the suggested percentage, so we can pay off our debt as rapidly as possible. So you are gon na see that our new classifications are all based off. Advised budget plan percentages Check this out. We have real estate at 25 to 35 percent utilities at five to ten percent food at ten to 15 % transportation at ten to 15 % insurance and tax at ten to 15 % health at 5 to ten percent savings at 10 to 15 % lifestyle. I do not like way of life classification at fifteen to twenty 5 percent and after that, obviously, providing at 10 to fifteen percent. However I do not talk about giving on my channel since I believe thats an individual choice. So what we did is what we offer and we do not discuss it. Thats that, but ten to 15 % flexible, so the first one is our housing. We are setting a 2 % which is away under the 25 %, but we dont have a home payment. The only thing we have in our real estate category is our storage unit and I put it in there since thats where all our things is the things that would generally be in a house that if we had a house so its kind of like a home, But with no power – and although it does have air conditioning in our utilities – classification which is expected to be five to ten percent, we have it set at two and in our utilities classification we have our cell phones at two fifteen fourteen Skype at $ 25. In our food category, which is presently living at 4 %, we have our groceries at 580 dollars turkey day at Molina school for $ 15 and school bucks for $ 40 and school dollars is Molinas lunches at school. So you can see. This is where the categories begin shifting around, because normally school dollars and turkey would remain in the Molina category, however they include food. So therefore they are now in the food category and in the transportation classification, which is supposed to be 10 to 15 percent. Ours is currently living at 1 percent, however I will inform you: I did stagnate our car payment over to this because I believe that is better matched with the debt. Now, if we were conserving for a car down the road or we have vehicle maintenance, it needs to be in this classification. I believe I also have put that in the cost savings category. Thats an individual choice. I am NOT putting it here, Im putting it somewhere else. We have $ 100 for gas $ 70 for an EZ Pass $ 40 for a virginia state evaluation and nothing to turn in our line our tires, despite the fact that were getting it done this month. I spoke about this in a previous video, where we actually put turning and aligning our tires into the budget plan, despite the fact that it doesnt cost us anything to remind us to do it, since we got it with a warranty on the tires that we really purchase in the Insurance and tax category, which is supposed to be ten to fifteen percent. Ours, is 2 percent, and in the insurance and tax category we have 18350 going to automobile and tenants insurance coverage, which is bundled together through USAA. We have my life insurance, which is ninety 165cm FG life insurance, which is twelve dollars and Xander life insurance coverage, which is 3583 and just to let you understand a few of you. I had discussed that my life insurance coverage is really expensive and it is a 30-year policy. Because believed it was high compared to ratios its exceptionally high, I actually called USAA and discussed it with them. I thought it was high and I wished to know how we might bring that down, and in fact they informed me that I was in a great health classification and the reason I was so high is since I am covered through 72 and you understand the older. You get the more costly it is. MaurizioS is only a 20-year policy and in the health classification, which is supposed to be 5 to 10 percent, ours is sitting at a whopping 6 percent and honestly. That is since Melina goes to an expert that doesnt take our insurance, they do not costs insurance coverage, they take our insurance coverage, they simply do not costs it and our insurance coverage covers it. So we have to pay out-of-pocket and then get reimbursed. We need to submit a claim after we go. ItS extremely simple, no big offer, however we have to pay out of pocket. That is the reason this is so high right now, so in the cost savings category, which is supposed to be 10 to fifteen percent of your income, we are in fact conserving well percent of our income. It will be considerably lower once we go to Colombia, but for now we are saving a thousand dollars a month to go down to Colombia to visit Mauricios moms and dads. Lets go over the cost savings. We have the thousand dollars each month for a trip down to Colombia because thats costly, we conserve 200 on a monthly basis for Melina summertime camp. We will become attempting to up that, so we do not have to cashflow it at all, however for right now, $ 200 gets us pretty close. We conserve one hundred and fifty dollars for medical expenses, and that is primarily the deductible at the start of the year. Is seven hundred and fifty dollars for us, the car repair work replace fund is a hundred dollars monthly. The Christmas fund is a hundred dollars each month. The emergency situation journey to Colombia is a hundred dollars every month and yes, I know I have a journey to Colombia and an emergency situation trip to Colombia. The emergency situation trip to Colombia is in fact us saving up must something happen to somebody in Mauricio household and we need to decrease there at a last-minute expenditure. I think were gon na set that right around at $ 6,000. That sinking fund is just well were in baby action 2, because that trip is a trip we absolutely would make, however it would definitely annihilate us economically if it occurred and we didnt have actually money saved for it. What we are gon na do is were gon na conserve up $ 6,000 and then were simply gon na. Let it sit there and its just gon na sit there and in case one day, we require it, itll, exist and then once were out of settling debt. That cash will really just go straight towards our completely moneyed emergency situation fund, since thats what a totally funded emergency situation fund is for those sort of emergency situations. We put 50 dollars on a monthly basis towards Mosul, Aeneas school expenses for Malina and mainly those are at the start of the academic year when we simply begin hemorrhaging money for this and that and PTO expenditures and excursion costs and this expenditure which expense. And its a lot of money at the start of the year, so that simply assists with that and then this month we are not putting any cash to our emergency fund at all, due to the fact that its currently there in the way of life classification, we have really broken the way of life Category down to subcategories, which are similar to the classifications that we utilized to do, and way of life is in between 15 and 25 percent of your income, and some of these classifications, as I said I do not believe, need to be way of life. I think there need to be a separate category for child care, since two parents working in this area is not a lifestyle choice. ItS a requirement you have to. I know very few families that there are not 2 parents working therefore child care is a requirement for us, and our schedules are not such that we can work shifts where I take Melina to school and Mauricio fix our up. We generally both need to be at work at the exact same time and leave the same time every day, so yeah childcare now an alternative and our way of life category. , if you can think it is in fact under the recommended 15 % minimum at 14 %.. So in the lifestyle Kat the first section, we have personal and entertainment. We have our hundred dollars for Amazon in there because were gon na spend it Im gon na, spend it its the fact, so I am gon na purchase stuff. So I might also put it in the budget plan. We have 30 dollars and 19 X, 19 X, 30 dollars and 1990s. Why can I not say that we have 30 dollars and 96 cents for iTunes that include Netflix Apple, music, iCloud, Amazon, music? We have 14.95 for audible each month, which is my book club book. We have 399 for Amazon music, so under Malina in the way of life category we have previously in aftercare at 6 hundred and eight dollars swimming lessons at $ 90 Spanish classes at 2 hundred and eighty dollars miscellaneous school costs at $ 25, the book fair for $ 30 And this month is school pictures, so fifty dollars for school photos, then in our money classification, which we likewise put under way of life, we have twenty dollars for the dry, cleaner, two hundred dollars for blow money. Thirty-Five dollars for her cut from ratio, forty dollars at Sally Beauty, Supply and a hundred dollars for random household fun out in my youtube classification, which is likewise considered lifestyle. We have 450 for two pal 5 dollars for Backblaze 9 dollars for morning popularity 1995 for a YouTube group I belong to and after that likewise in the way of life category. We have work expenditures which include $ 22 for parking for Mauricio. Ought to we draw separately to work, and in the last area we have $ 100 in our spending plan for cushion, since we will run out of cash. Review budget plan do something that were not supposed to so. WeVe had the spending plan and additional hundred dollars on a monthly basis, just in case so then this month we will be putting a 40 percent of our income to financial obligation at 5800 and $ 52. A little bit lower than what we normally put to financial obligation, however it is the beginning of the month and what you do not see in here is the Christmas budget plan, which I will be doing a whole video on. So Ill see you in the next one see ya: As found on YouTube
Originally posted 2020-03-18 12:58:14.