January 2024 Budget Report | Family of 4
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- Опубліковано 22 лют 2024
- Today I'm showing you our actual budget for January. Here's how we spent and saved our income for the month of January!
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Love hearing how much you guys are loving AZ! I feel like it may be a fun video to compare the two so far, I’d love to hear how moving away from family has been if you feel comfortable sharing! We live away from family but I’m a little nervous for how that looks when we have kids!
Yayy you updated your net worth. Thank you so much, Marissa! Ever since finding your channel back in September, I've done a deep dive/slash overhaul of my finances, and I credit you as the catalyst for this because hearing about your background and careful planning over the years made me take a serious look into my spending habits and start seriously thinking about my future. I've since sat down with my now fiancé (we got engaged right before Christmas 2023) and started planning out our financial future with a lot of what I've learned from your channel and other YT finance gurus. Thank you again for all that you do. I appreciate it so much! Really hope you never stop YT because I will be pretty sad :(
Btw, I've purchased 3 of your Excel spreadsheets and cannot recommend these enough to folks!
Love these videos!! Thanks for sharing! ✨🧡
I have to say I’m really looking forward to your bookkeeping course! I’m transitioning in the fall from working full time to homeschooling our kids and I think this would be a great option for me! I’ve actually been thinking of doing bookkeeping as a side hustle for years, but just have never pulled the plug yet, so this is coming out at the most perfect time!
Yay!! I’m so excited to hear that! It’s a great side hustle to be home with kids and work in pockets of free time.
Great video!
I hope you share a little of your trip to Disney! I know you probably won’t share the whole thing, but that’s so exciting!! I LOVE Disney and could probably write a book on where to spend, where to save, where to stay, etc! Haha My family will FINALLY be taking our first trip to Disney World in May! We’ve been saving for 2 years and I can’t believe it’s almost here! I actually just bought our tickets and for a family of 7 for 5 days our tickets alone were $4,623! 😂😂 THAT almost killed me but I know it’s going to be a once in a lifetime trip for us!
Hi! I just found your channel and I love how your break down your budget with your husband. In a video, can you explain more about savings, net worth, assets, and liabilities. I want to learn about all of these like how to get started, what they are, etc.
Half millionaires is a great goal!!! Look forward to seeing you prosper
Thank you so much for this kind encouragement!
Where does the money come from when you go over on expenses? Is that coming from your sinking account? Can you see that money being pulled in this document or do you have another video that talks about that? This is so helpful! :)
So impressive how much you save each month. Would be interested in seeing how you compare insurance plans cost, premiums, deductibles etc…
You may not get dollar for dollar what you spent on the yard. But you are doing fine.
Have you thought about starting to save for the HOA now like it is a bill?
I’m sorry if you’ve answered this before. I know you have your emergency fund at CIT but Do y’all keep your sinking funds in your normal savings account? I really admire your sinking funds! It’s a current filial for us but having a hard time organizing
I miss phoenix soooo much :(
Get Phoenix Zoo passes if you are close! The price is so affordable and a great outing. Wildlife Zoo is pricier.
Okay good to know! We haven’t been to the zoo yet but want to check it out!
I second this! Wildlife World Zoo and Aquarium is even better, but kind of far, and we love going once each winter!
I'm SHOCKED to hear you say that 700 groceries and 130 in gas are LOW!! That's astonishing. Low cost of living has warped my expectations I guess.
The USDA comes out with monthly reports on average food costs and even their “thrifty” plan says a family of our size and age would be about $820/month.
@TheBudgetingWife I wonder how they are factoring in income and expenses? Is that a 2 income household? Is it at the average household income? What is the cost of living they're calculating that at?
Uh 😆 I WISH my grocery budget was that LOW
@@kdlee3316 and what state are you in? I'm in a very rural town in Montana, our basics are so expensive, many things are at least double the price. if we want much lower prices we have to drive an hour and a half.
@@HEATHERFREE2486 Washington
Me and my husband are terrible at budgeting… I purchased your budget sheets but we are not great at it. We are debt free except our mortgage but struggle with being intentional with every dollar. I’m so embarrassed we haven’t started collage accounts and we have 4 kids. I do not understand how to put things in sinking funds and keeping track of that. How do you itemize your spending with such detail? It feels (especially as someone with ADHD tendencies) impossibly hard. 😩
26 years ago a 7.5% or 7% was considered excellent. 22 years ago 6.25% was exciting. I think mortgage interest reached 18% in the 70’s and 80’s. It is why when kids interest on a savings account could be 10%.
What would you figure groceries would be without Hello Fresh? Want to know for comparison. 😄 We are a family of 4, spending over $1000/month. Sounds like a lot. It comes out to $200-250/wk plus taxes, which according to FDA is reasonable.
I don’t think you are out of line. Family of 4 and we have consistently been at $750 for 2 years and my spouse travels for work 2 weeks a month. I could see $1000+ if he was home every night. Especially now. $750 used to keep our freezer full of deals, now it’s about 1/2 full.
I think that’s super reasonable! Without HelloFresh I think we’d be spending an extra $70/week.
You’re PT and insurance are not part of your mortgage payment?
If you have more than 20% in equity, you don’t need an escrow account. Property taxes and insurance is paid for by the owner instead of the mortgage company.
@@miladylaughalot I have always done an escrow even with that much down. I’m surprised the mortgage is so high with those things separate.
Nope! We didn’t have to go through escrow. We’d rather save it and pay on our own.
You must be SRP. APS is higher in just fees than that for electric.
We’re on APS 😊
I Think you may have to much house.
Dave says 15 year fixed where payment is no more then 25% of take home pay that includes property taxes and insurance.
So since your doing a 30 year it’s at least 38% of your take home pay if it was a 15 yr.
Do you plan on paying it off in 15 years or less ?
I was never planning on taking on a 15 year mortgage. We plan to pay it off sooner. Not exactly sure when. But I don’t follow Dave’s advice for mortgage. Our take home pay is also less 401k, medical insurance premiums and maxing out an HSA. So our overall mortgage payment is well under 25% of our take home pay (after just taxes) with a 30 year mortgage. I know some have been able to do a 15 year, but it’s not possible for most right now. A 30 year and keeping it under 30% of take home pay is still great.
Glad to see You're Christian!
Where does the money come from when you go over on expenses? Is that coming from your sinking account? Can you see that money being pulled in this document or do you have another video that talks about that? This is so helpful! :)