Alright, r/pfc crush my budget. I'm a serial spender but some improvement has been made. I've picked apart Mint to try and get a fairly accurate view of what is happening. We are a family of 6 but groceries is super high, $1700 was the high water mark but it tends to cycle around $1000-$1400 and definitely trending up. It also includes things like laundry detergent and those sorts of things you tend to pick up while grocery shopping. Gas also has gone nuts, a lot of driving to kids sports and tournaments scattered across the province.
Other notes. I'm actually paid bi-weekly, but prefer to budget based off twice monthly for simplicity and spending control. Child care costs were actually $1200/mo until very recently, they will likely return just at a reduced family discount. Rent is also a family discount. The credit cards/loc are all maxed out from living beyond our means but also single income up until 2 years ago. I am in the process of going through a CP so that will hopefully be reduced to a more manageable (~$500/mo x 60) amount. I've calculated what I should be saving monthly for the bigger items like travel/sports based on last years prices. But the actual saving monthly what I should do mostly isn't happening. We've from what I can tell, stopped the bleeding and treading water over the summer which is the toughest time since it's just my income.
+
A
B
C
D
E
F
G
H
I
1
Income
Periods
Pay per Period
Monthly
Yearly
Monthly
Yearly
2
#1
24
2250.00
4500.00
54000.00
Leftover
523.89
6286.71
3
#2
20
1200.00
2000.00
24000.00
4
#3
12
1400.00
1400.00
16800.00
5
7900.00
94800.00
6
7
Fixed
Monthly
Yearly
Entertainment
Monthly
Yearly
8
Rent
1100.00
13200.00
Amazon Prime
9.24
110.88
9
Child Care
0.00
0.00
Amazon Music
17.91
214.92
10
Car Ins. #1
101.92
1223.04
Netflix
23.51
282.12
11
Car Ins. #2
93.53
1122.36
Disney Plus
13.43
161.16
12
Cell #1
33.60
403.20
Crunchyroll
9.99
119.88
13
Cell #2
38.08
456.96
F1TV
6.67
79.99
14
Cell #3
28.00
336.00
PSN+
6.53
78.39
15
SubTotal
1395.13
16741.56
Nintendo
4.20
50.39
16
SubTotal
91.48
1097.73
17
Debts
Monthly
Yearly
18
LoC
35500.00
400.00
4800.00
Sports/Activities
Monthly
Yearly
19
Visa
14900.00
300.00
3600.00
Hockey - Reg
79.17
950.00
20
MC #1
15783.00
300.00
3600.00
Hockey - Rep
141.67
1700.00
21
MC #2
19653.50
175.00
2100.00
Hockey - Spring
83.33
1000.00
22
Bank Fee
4.00
48.00
Reg - Fastball
33.33
400.00
23
SubTotal
1179.00
14148.00
Misc - Fastball
25.00
300.00
24
Camps
87.50
1050.00
25
Variable
Monthly
Yearly
Lessons
20.83
250.00
26
Groceries
1400.00
16800.00
Hockey - Adult
15.83
190.00
27
Gas
700.00
8400.00
SubTotal
486.67
5840.00
28
Home Phone
8.33
100.00
29
Pets
90.00
1080.00
Miscellaneous
Monthly
Yearly
30
Medical
125.00
1500.00
Incidentals
200.00
2400.00
31
Vehicle Maint.
240.00
2880.00
Costco Membership
10.50
126.00
32
Clothing
200.00
2400.00
SubTotal
210.50
2526.00
33
Alcohol
100.00
1200.00
34
Travel (Sports)
500.00
6000.00
35
Restaurants
550.00
6600.00
36
School Fees
100.00
1200.00
37
SubTotal
4013.33
48160.00
[sup]Table[/sup] [sup]formatting[/sup] [sup]brought[/sup] [sup]to[/sup] [sup]you[/sup] [sup]by[/sup] [sup]ExcelToReddit[/sup]
Going forward, I do need to fund 4x RESP but 2 oldest being the priority. Adding in life insurance for my wife. Too late for me, medical issue already happened and I won't be able to get it for a while at least. I do have a small emergency fund ($1500) saved and I have a DB pension. Wife just started paying into a municipal pension but she's just returning to the work force after many years off. Really, the only big levers to pull I see are getting groceries/gas/restaurants down and pushing my kids into non-competitive side of the sports they play to cut down on those travel costs. Definitely tweaking I can do around the edges. I've also been trying to automate myself out of process since my impulse control is lacking.
But what do you see I'm too blind to see?
Other notes. I'm actually paid bi-weekly, but prefer to budget based off twice monthly for simplicity and spending control. Child care costs were actually $1200/mo until very recently, they will likely return just at a reduced family discount. Rent is also a family discount. The credit cards/loc are all maxed out from living beyond our means but also single income up until 2 years ago. I am in the process of going through a CP so that will hopefully be reduced to a more manageable (~$500/mo x 60) amount. I've calculated what I should be saving monthly for the bigger items like travel/sports based on last years prices. But the actual saving monthly what I should do mostly isn't happening. We've from what I can tell, stopped the bleeding and treading water over the summer which is the toughest time since it's just my income.
+
A
B
C
D
E
F
G
H
I
1
Income
Periods
Pay per Period
Monthly
Yearly
Monthly
Yearly
2
#1
24
2250.00
4500.00
54000.00
Leftover
523.89
6286.71
3
#2
20
1200.00
2000.00
24000.00
4
#3
12
1400.00
1400.00
16800.00
5
7900.00
94800.00
6
7
Fixed
Monthly
Yearly
Entertainment
Monthly
Yearly
8
Rent
1100.00
13200.00
Amazon Prime
9.24
110.88
9
Child Care
0.00
0.00
Amazon Music
17.91
214.92
10
Car Ins. #1
101.92
1223.04
Netflix
23.51
282.12
11
Car Ins. #2
93.53
1122.36
Disney Plus
13.43
161.16
12
Cell #1
33.60
403.20
Crunchyroll
9.99
119.88
13
Cell #2
38.08
456.96
F1TV
6.67
79.99
14
Cell #3
28.00
336.00
PSN+
6.53
78.39
15
SubTotal
1395.13
16741.56
Nintendo
4.20
50.39
16
SubTotal
91.48
1097.73
17
Debts
Monthly
Yearly
18
LoC
35500.00
400.00
4800.00
Sports/Activities
Monthly
Yearly
19
Visa
14900.00
300.00
3600.00
Hockey - Reg
79.17
950.00
20
MC #1
15783.00
300.00
3600.00
Hockey - Rep
141.67
1700.00
21
MC #2
19653.50
175.00
2100.00
Hockey - Spring
83.33
1000.00
22
Bank Fee
4.00
48.00
Reg - Fastball
33.33
400.00
23
SubTotal
1179.00
14148.00
Misc - Fastball
25.00
300.00
24
Camps
87.50
1050.00
25
Variable
Monthly
Yearly
Lessons
20.83
250.00
26
Groceries
1400.00
16800.00
Hockey - Adult
15.83
190.00
27
Gas
700.00
8400.00
SubTotal
486.67
5840.00
28
Home Phone
8.33
100.00
29
Pets
90.00
1080.00
Miscellaneous
Monthly
Yearly
30
Medical
125.00
1500.00
Incidentals
200.00
2400.00
31
Vehicle Maint.
240.00
2880.00
Costco Membership
10.50
126.00
32
Clothing
200.00
2400.00
SubTotal
210.50
2526.00
33
Alcohol
100.00
1200.00
34
Travel (Sports)
500.00
6000.00
35
Restaurants
550.00
6600.00
36
School Fees
100.00
1200.00
37
SubTotal
4013.33
48160.00
[sup]Table[/sup] [sup]formatting[/sup] [sup]brought[/sup] [sup]to[/sup] [sup]you[/sup] [sup]by[/sup] [sup]ExcelToReddit[/sup]
Going forward, I do need to fund 4x RESP but 2 oldest being the priority. Adding in life insurance for my wife. Too late for me, medical issue already happened and I won't be able to get it for a while at least. I do have a small emergency fund ($1500) saved and I have a DB pension. Wife just started paying into a municipal pension but she's just returning to the work force after many years off. Really, the only big levers to pull I see are getting groceries/gas/restaurants down and pushing my kids into non-competitive side of the sports they play to cut down on those travel costs. Definitely tweaking I can do around the edges. I've also been trying to automate myself out of process since my impulse control is lacking.
But what do you see I'm too blind to see?