2. My Family Facts

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Sometimes when I read other blogs, I can’t relate as much because I have a hard time finding the family facts. What is the family make up? What is the income, what monthly expenses are there, etc. If I find that helpful, maybe others will too.

In our household is myself, my Husband, both in our mid- 30’s, my Mother, our 2 year old and soon to be new born. Both my Husband and I are working and we are fortunate to have my mother home to take care of our child.

After taxes, we take home $204,000 annually. Our monthly expenses are below. In addition, we get paid bi-weekly so we utilize a “Bills Budget” I created to identify exactly what gets paid from each paycheck based on their due dates and how much money we have to work with. I create this for the full year and it has been a critical in managing our base budget.

monthly expenditures

Another thing that is important to our family is being able to travel, give gifts and have spending money for entertainment. We put aside money from each check for those. Now, I know that may seem like an unnecessary expense, especially when trying to get out of debt, but we are going to try to balance it (for now!).

Our total debt is listed below

debts

In the next post, I’ll write about our plan to get this paid off! I’m sure over time, we may find better ways to do things, but I’ll keep everyone in the loop. If you’re interested in hearing more about the “Bills Budget” just let me know via email at info@financiallyme.com, comment or the Contact page. If you’re enjoy this journey, and think others may too, please share!

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