Ok, so I FINALLY have a balanced budget with DH Salary and my current at home part-time job and 1 baby/ buying a house for 15% of our NET take home pay including taxes/insurance.
*The budget does not include any extra for me working other bookkeeping/tax prep jobs or snowflakes, just our minimum income. I have also done tax planning based on one child, and all tax deductible items listed below and have adjusted our withholding; we will have no refund based on these numbers.
*The budget does not include child care since it is based on me working 15 hrs from home; I'll have to do it when DH is home so no childcare needed.
Church/Charity, 5% gross
Retirement, 15% gross
College Savings, $250/mo
Life Insurance, 10x income
House Payment, 25% NET (including taxes and ins)
House Repairs/Sinking Fund, $150/ mo
Utilities, $183 mo (based on our current budget/we are looking to buy small house hopefully with woodstove similiar to current rental).
Vonage phone, $12
Internet, $60 (full price w/o promotion)
Cell, $41 (prepaid for me 8.33 /mo and $32.95 for DH)
Food, $150 (will be breastfeeding/also get free milk & food from DH work, and our garden).
Misc Household, $10 (cleaning supplies, etc)
Personal Care, $20 (this is low for us but I had to cut somewhere). but if i coupon for PC items, I think we would be ok.
Gas, $200 (this is low and based on DH driving a gas efficient car to work; and minimal driving for me)
Auto Repair, $100 bal to car replacement sinking fund.
Car Replacement, $150
Car Ins Fund, $150 (this should go down soon)
Clothing (200 each yr) so 16.67/ mo each
Misc Baby Expenses (incl clothing and cloth diapering), $70
Note: baby center estimates $19/ mo for cloth diapering - does this sound too low?
Cats, $15 (this is low based on our current spending, but need to find cheaper litter)
Gifts, $50 (low but with handmade plus bing/swagbucks, i think we would be ok.
Health Ins, $390 (2k deductible), includes ins for myself and baby (no deductible for baby)
DH Health Ins, included in net pay but $104/ mo with 2k deductible.
Eye Care (me), $8
Blow Money, $10 (low but we've done it before)
HSA contributions for deductibles
It is tight, but we are including several baby steps here; I *think* the only thing we are really missing is the HSA, vacation fund and a snowball for BS6... what do you think?