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July 2016 Budget Plan

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July Budget PlanAs you all probably heard, I decided to get a roommate to help with my budget and to make better use of my home.

My home is just too big for one person, so I was either going to start looking for a smaller home so I could save money and make better use of my space, or start looking for a roommate. I didn’t want to take in just anyone as my roommate because I value my privacy and I don’t have a completely separate “apartment” for a roommate to live in, so I knew it would have to be someone I know and trust. This is why I decided to take in my brother as my roommate.

He will be paying rent and part of the utilities, but that isn’t reflected in my July budget plan. I decided to use his first month’s rent this month to make a couple of much-needed repairs to my home’s HVAC system. He also isn’t chipping in on this month’s utility bills since they are from usage in June, before he started officially living here. So next month, my budget will look quite a bit different from how it looks this month.

Nominate me for the Plutus Awards

This month’s budget is one that I’m actually not very excited about. I have a big bill to pay for the dentist. I need some new contacts. Plus, my electric bill is the highest it’s ever been. I think this is due to using the AC a lot more than when I used to work away from home. Before I started working from home, I would have the AC programmed to go up several degrees while I wasn’t home. But now I’m home nearly all the time.

That said, here is my budget plan for July:

CategoryMonthly Total
Saving$20.00
Mortgage$883.66
City Bill$160.00
Gas Bill$18.06
Cable$15.98
Internet$53.30
Phone$67.66
Fuel$50.00
Auto Insurance$101.61
Cleaning$90.00
Cash Spending$280.00
Debt$889.28
Travel Savings$100.00
Dentist and Contacts$297.00
4th of July$30.00
TOTAL$3,056.55
Business Income Required$3,060.00
Difference$3.45

Even though it’s going to be an expensive month, I did have a small financial win. I lowered my “cable” (not really cable) by cancelling the DVD portion of my Netflix plan. I didn’t really watch the DVDs regularly anyway. Most of the time I would use streaming to watch all of my TV on Netflix and Hulu. That was a savings of about $8/month.

One thing I really struggle with is sticking to my grocery budget in the summer. I’ve been wondering lately if I should increase it a little bit during the summer months. This could help pay for things like summer BBQs and get togethers. Plus I tend to eat more fresh fruits and vegetables in the summer. My grocery budget is $120 of my $280 “cash spending” line item. Last month I went over on groceries by a few dollars. This month is already looking a bit tight too based on my estimates.

What are your thoughts? Do you spend more on groceries in the summer? Hows is your budget plan looking?

Want to know how I budget as a freelancer? Here's my July budget plan!

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Kayla

Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

12 Comments

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