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October Recap

November 2nd, 2014 at 03:54 pm

Income = 6599 (this includes paychecks, snowflakes, gifts - all incoming money)
Expenses = 4422
Savings = 1254

Compared to last year:
Income increase by about 4%
Expenses increased by 8%
Savings increased by 11%

I'm feeling pretty good about this... The increase in expenses is due to the new tires that we had to buy for D's car, so not too worried about that.

Our ratios are exactly 30% wants, 50% needs and 20% savings. I should point out, though, that F's tuition is in the wants category, even though in my mind that's really a need. Her tuition represents 9.76% of our budget, so maybe it's more like 20% wants, 60% needs and 20% savings. This is why it's so crucial for us to get the mortgage paid off (that way we can put tuition into "needs" where it belongs and still be at the 30/50/20 ratio.

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