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April 12th, 2012, 11:45 AM
Kody Kody is offline
Mommy of Four!
Join Date: Nov 2011
Location: Georgia
Posts: 140
I'm a single mom of four children. I make decent money, but I need a budget so that I can reach some long term goals. I'm not that great with budgeting, and I have no idea how to go about starting. Can you ladies help me?

***I will possibly be changing jobs May 1st. I am thinking about accepting a position at a smaller school that is closer to my home. I will be dropping pay quite a bit, but the hours are better and it's not so far from my house. What will I need to change or cut down on if my pay changes? I really want to accept this position; I just need to know if I can financially do it.***


Income
Your income: $1684.00 monthly Will drop to $1240.00
Dh/SO's income: N/A
Other income: $1,100.00 monthly in childsupport

Living expenses
~Rent/Mort pymt: $1025.00
~Electric: $80.00
~Home gas: N/A
~Water: Included in rent payment
~Cable: $80.00
~Gardener: N/A
~Internet: Included in Cable
~Home phone: N/A
~Cell phone: N/A
~Groceries: N/A
~Other household items: $100.00
~Medical expenses (co-pays, prescriptions): N/A
~Car gas/transportation expense: $240.00 Will drop to $200.00
~Car maintenance: N/A
~Car insurance: $86.00
~Other insurance: N/A
~Child care: $315.00 already deducted from my income Will be $0.00
~Diapers: N/A
~Other baby expense ______N/A_____:
~Preschool/schooling: N/A
~Pets: N/A
~Eating out: $400.00-Eat out alot because I work until almost 7pm and can't cook dinner. Working on cutting this down as we speak!
~Entertainment: N/A
~Spending/pocket money: $100.00
~Misc spending:
~Other ____________:
~Other ____________:

Debts-Please list minimum payment, amt you usually pay, balance, interest rate. If you are past due or have special financing (0% interest), please indicate that as well.
~Car payment #1: $315.00- 9% interest rate- need to refinance as stated in divorce decree but haven't yet.
~Car payment #2:
~Student loan:
~Credit card #1: $550.00
~Credit card #2: $400.00
~Credit card #3:
~Credit card #4:
~Credit card #5:
~Credit card #6:
~Other debt #1 ____________:
~Other debt #2 ____________:
~Other debt #3 ____________:

Goals: (examples: new car, baby, to be a SAHM, vacation, retirement, etc)
I want to save for:
1. I want to buy a house for me and my children
2. I need a larger vehicle
3.
4.
5.
__________________




Thank You Alethia for the Siggy!

Last edited by Kody; April 23rd, 2012 at 08:55 AM. Reason: Change of Job
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