I have gotten all the bills already for the new house, so I think I have an accurate idea of what my new monthly expenses will be.
10% of income tithe
$38 our sponsor child through Compassion
$22 donation to Solutions
$100 home insurance (I prepaid this when I bought the house for 1 year, so it will be all due again next Nov.)
$400 mortgage
$400 taxes (I pay these separately)
$100 gas bill (budget option)
$100 electric (estimate)
$50 water bill (high estimate)
$33 sewer (it is $100 every quarter)
$82 car insurance
$120 gas for car
$100 freedom account
$30 non groceries (contact stuff, shampoo, etc)
$11 HSLD
$60 phone/internet
$500 food budget
I need to add some sort of home repair line, possibly into my freedom account and up that number. I have to figure out a realistic number. I was thinking about $200 a month after I get roof issues (leaking into living room) fixed.
I also want to add a vacation fund, and fence fund. But that is ideal stuff right now.
-Becky
Saturday, January 2, 2010
New House budget
Posted by Becky R at 2:54 PM
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1 comments:
A friend of mine suggested this for an idea of how much to figure for home repair--Take 1-2% of the price you paid for your home and figure that amount annually as your house repair fund. If the house is older, then 2%, or if you've gotten a great deal on a house, use the price you would have paid if it had not been a great deal.
That at least is a starting point, and if you don't need all the money for the house this year, then roll it into next year's house fund. You don't replace the roof yearly, but a new roof isn't cheap, so what you don't spend this year can lie dormant until you have a big expense like that.
megan
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