Our Budget Overview

Here is how things break down.  Hopefully seeing these hard numbers will help people understand that normal families can accomplish financial freedom as well!

We make $4,584.00 base pay and $1272.00 for our housing allowance.  We choose to live on base and our rent is $1,150 (includes utilities) therefore we receive $122 back each month making our take home pay roughly $4,032 (after taxes and such).

Our starting number is $4,032 for each month.

Expenses that are not debt are:

  • Cellphone 1 – $39.73
  • Cellphone 2 – $39.73
  • Internet – $44.99
  • Netflix – $15.37
  • Insurance – $149.82
  • Total expenses = 289.64

Our debts:

  • Personal loan – $449.56
  • Student loans – $202.36
  • Vehicle 1 – $350
  • Vehicle 2 – $350
  • Revolving debt – $125
  • Total debt = $1476.92

Phew.  So much debt!

Those two categories added together means that $1766.56 automatically comes out of our account each month leaving $2265.44

This is an improvement from a few years ago if you can believe that; we’ve since paid off THREE debts and have received a few pay increases.

 

Currently we are snowballing at least $750 a month into our debt automatically, but will randomly throw chunks as the month goes on.

We’re hoping that this blog keeps us in check so we can throw at least $1,000 additional toward our debt each month.

Now let’s high five since we just showed y’all our skeletons, that’s the appropriate thing to do, correct?

Published by

Katrina

Hi There! I'm Katrina and I’m married to the love of my life, William. Together we have the two precious little girls Elizabeth and Alodia. I'm so glad you're here!

8 thoughts on “Our Budget Overview”

    1. $1476.92 is the total of the automatic payments that go toward debt monthly. We pay that plus whatever is snowballed toward debt each month. I would say it’s the “minimum” but most of the debts are being overpaid automatically. 🙂

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  1. We are trying to follow the Ramsey method to become debt free as well. I am so very excited for you guys! Debt is such a heavy burden. Thank you for your honesty! I am definitely looking forward to following your blog .

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  2. Good luck katrina! $100K is a huge burden but I am here to encourage you to follow what Dave teaches and you will be out of debt in no time. When I started following Dave I was like you and had $104,616. It sucked to have the debt but getting out of it was one of the best decisions I ever made.

    Thank you and your spouse for your service.

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