My Real Budget

In the name of honesty, I’ve decided to unleash what my real budget looks like. A few logistical notes, I keep the budget on Google Drive, so it can be with me anywhere I have my phone and I can update in real time to put in my actual spending. This budget goes into effect June 27th (payday!). The first step is to track my actual expenses vs my projected expenses for one month.

Projected
Income 1 – Paycheck 1 939
Income 2 – Paycheck 2 908
Total 1847
American Eagle 48
Gas (Fuel) 80
Groceries 80
Home Supplies 35
Auto Insurance 80
Rent 795
Pet Supplies 35
Bank of America 49
Bill Me Later 35
Capital One 25
Student Loans 50
Therapy 100
Util: Gas 70
Util: Internet 50
Util: Electric 50
Renter’s Insurance 25
Fun 40
Total 1647
Difference 200

And this is the spreadsheet I keep for my debt, including a “snowball system” where I pay the smallest amount off first, paying double the minimum. Once that debt is paid off, I take the total amount I was paying on it, and apply it to the minimum of the next smallest debt. Momentum! I also set “next step goals” and “percentage paid off” formula to cheer myself on and see the debt diminishing.

Debt Amount as of June 25, 2014 Interest Minimum Snowball Total Payment Very Next Step
Capital One – Credit Card 725.76 13.90% 25 50 75 Under 700
Paypal – BillMeLater 953.19 19.99% 35 75 110 Under 950
American Eagle – Credit Card 1616.27  ?? 48 110 158 Under 1600
Nelnet – Student Loans 3769.2 ?? 50 158 208 Under 3760
Bank of America – Credit Card 4961.52 0% until August 49 208 257 Under 4950
Total Current Debt 12025.94 207
Amount Paid Off 0
Percentage Debt Free 0
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