See our family budget update for July: what we spent, what we saved and if we met our financial goals.
By popular demand (and after a VERY long absence), I’m bringing back our family budget updates.
I’ll share the goals we’re working on and how things are going in real life, which will help to keep me accountable and hopefully encourage you in your budgeting journey.
My oldest three children have moved out as of June this year and we only have our 18 year old daughter living with us, so this budget is for three adults.
Our Vision: Ridiculously Generous and Abundantly Provided For
- have a weekly money meeting to plan our paycheck;
- give money from every paycheck;
- pay off unexpected medical bills;
- work toward finishing our long-term emergency fund.
Current Family Budget (Monthly)
These are our current monthly expenses:
mortgage, taxes and insurance: $1138/month
utilities (water, power, internet): $250/month
groceries ($60/week): $240/month
gas for vehicle: $200/month
car insurance: $120/month
cell phones: $40/month
life insurance: $51/month
health insurance: $300/month
pet costs: $40/month
personal spending ($10 each/weekly): $80
weekly dates: $80/month
Total Monthly Budget: $2564.00*
*We also give a percentage of each paycheck. Any money we make over the budget goes to savings or to pay off medical bills.
July Family Budget Update
Spending in July
groceries: $291.31 ($51.91 over budget)
cell phones: $40
toiletries/household non-food items: $50.93 ($25.93 over budget)
car (gas, tolls): $140
life insurance (paid quarterly): $153.17
medical (doctor visits, prescriptions): $0
pet expenses: $22
lunches/eating out as a family: $80.16 not including dates ($20 a week on food away from home)
dates: $70 (see my list of $10 Date Ideas HERE)
Total Spending: $2222.06 + Giving
Saving in July
We are currently using all extra money to pay off some unexpected medical bills from earlier this year, so we’re not adding to our emergency fund. Our only savings is the weekly amount we add to the Freedom Account for future expenses.
Total Savings in July: $0.00
August Financial Goals
- Continue giving from every paycheck.
- Continue weekly budget meetings to plan every paycheck.
- Keep expenses as low as possible. (See our $60 Grocery Budget Meal Plans and Shopping HERE.)
- Pay at least $100 toward medical bills.
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I would love to hear how you’re doing with your financial goals so leave a comment. 🙂
We can do this!
P.S. – See my 2019 Goals Post HERE with all of my goals for this year.
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