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2010 February Budget and January Recap

February 7, 2010
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Well, we are breaking even with the budget in all areas except savings and I’ll explain the catastrophe that happened Wednesday(last week) to send us into our savings.

Our 2010 January Budget and Actuals can be viewed here.

Here is our 2010 February Budget and our goals at the end for 2010 – remember, I reserve the right to make changes as they come up through the year – A good friend once told me – Put your Goals in Stone and your plans in Sand – Goals stay true but your plans to attain those goals must be flexible to change.

February 2010 Budget
Utilities – $300.00
Fuel for Vehicles – $200.00/Month (I’m not adjusting from when it was $3.00+ a gallon – overage is going to savings)
Car Ins – $195.00/month (We have a BIG TRUCK that costs more – I won’t give her up!)
MTG – $615/month – (really it is less but when they reduced the mortgage I did not reduce my payment).
Car Payment – $495.00 – Double payments to pay off early
Board – $540.00/month + $50.00 for Foxy = $590.00
Hay/Feed/Shavings/Meds – $400.00/month – I’m looking at this to see if it is truly this much – I guessed! This is for both Horses/Dogs – it is less just not sure – still runnin’ the calculator on my receipts from last year! I think I have this whittled down to $350.00 but I’m keeping at $400.00 for right now.
Life Ins – $88.00 both James and I
Food/Toiletries/clothes/shoes – $25/week
Cell Phone – $137.00/month – locked in for another 12 months. (I’m looking at alternatives – this includes 2 phones and my wireless internet)
NetFlix – $18.00 – We love our movies and this saves us a ton of money!
Association Fees – $10.00/month – this is for ApHC, AQHA, NBHA memberships
Balance – Savings – should be more than $400.00 but I reserve the right to make changes to this as we move forward.
Oil & Air Filter change for Car – $79.00 (We elected to have this done at Valvoline – weather is too nasty for Bear to do it)
Oil & Air Filter change for Truck – still checking prices – she’s not due yet so I have time and may move this to March.

Flexible Spending account has been funded with $3000.00 for Dental/Health/VISION/Prescriptions and over the counter Rx for 2010.

2010 Yearly Goals:

HOUSE
Fix Cornice on front of house – Scrape and Paint.
Tuck Point
Clean Yard of debris – 1/2 way done but need to wait till spring or warmer less wet weather.
Scrape and paint exterior
Fix the two elusive leaks on the roof (I tell you if water wants in water will get in!)
Clean & Gut back bedroom
Fix ceiling in back bedroom and mud room (where it has leaked – after fixing the leak)
Clean and re-paint Basement
Upstairs Toilet – replace Low priority – works but is an antique and they don’t make inserts for them like it needs.

Long range goal:
Save for New roof – current estimate is $7,000.00 – $10,000.00.
I’ll be posting a gauage on my blog to keep track of our progress along with the monthly updates. ***Good news – I’ll post about an estimate from a company that was an answer to a prayer!***

2010 Horses / Dogs – annual shots, wormers, coggins, standard meds & supplies (does not include hay, feed, shavings, shoes/trims, equipment).
Horses/Dogs
8 5/way shots @ 20.00 each = $160.00 March
8 West nile shots @ 20.00 each = $160.00 March
8 Strangles @ 20.00 each = $160.00 March
Coggins = $25.00 per horse (not sure how many we will
Pull coggins on-depends on who we show) April
2 bottles of Banamine – $100.00 Feb
2 Bottles of Bute – $60.00 Feb
100 Syringes w/needles Feb
48 Wormers ( I worm every other month) Already have for January March
4 – 6 way for dogs Done
4 – Rabies Done
4 – Wormer (already have the wormer) Done

Emergency Fund
Have $2000.00 at least saved towards EF by December 2010
3 Month Pantry stockpile – staples – almost finished – Pantry challenge will help me to guage what I will actually need for 3 months.
3 Month Freezer Stockpile – Veggies and Meat – Almost finished
***We will be fully stocked by the end of March***

Ultimate Goal for Emergency Fund:
6 Months of Board, feed, hay/Med 4500.00
6 Months of Utilities – 1800.00
6 Months of Mortgage – 4500.00
6 Months of Car payment – 3000.00
6 Months Insurance – Life/Auto/Home 3000.00 (guesstimate)
6 Months Stockpile Pantry and Freezer
6 Months Fuel for both Vehicles 1500.00
6 Months Kerosene – 500.00
6 Months Cell Phone – 600.00

Vehicles
Tuneup for Both Vehicles – Checking on prices
4 Tires for back of truck – checking on prices but looks about $650.00
Transmission and Fuel System flush for Truck – checking prices
4 Tires for Car – checking prices (not needed till next year)
Tag, Title, Tax – Truck is $60.00 due in February, car is due in April – $150.00

Trailer
Bearings packed, brakes checked – 150.00 (will need before we start hauling in April)
Saving $37.50/month till needed.

Bear and I do not have cable/satellite and we really do not miss it – we do go to the Bookstore to hang out – never really purchase anything unless I have a GC or coupon making something very cheap.

Remember – this is the Second year we have ever done a Budget and set Goals for ourselves. I like it – I’m using as a reference – Jamie at I am a Money Magnet (she really is) for inspiration. It wasn’t as hard as I procrastinated the process to be – believe me I can procrastinate – and I rather liked putting this to paper and actually “seeing” where things were going!

What I’m going to do NOW is start whittling away at these figures to see how far I can get them down!

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