Forty weeks ago we committed to buying the home that we still love. Twelve weeks after becoming debt free (Debt Free: week twelve) we wrote a check for ernest money toward building our home.
Fast forward forty weeks and we are moved in, settled and working on the next project. Currently the home is in need of a backyard. The backyard landscaping is way more than anticipated.
In early January I wrote a check for $7226.74 It was given to a landscaping company. Mrs. MBG and I have been working on designing the wonderful backyard for nearly two months. Its going to be amazing, and expensive. In the short term it will lower our net worth. Writing the check this month didn't kill our budget because we have been saving all along for this big expense.
The January 5th 2016 paycheck arrived and it is the biggest single payday I have had, ever. Christmas is over so I went shopping for myself. I picked up a nice little handgun for a big price tag.
Thats right, I spent the grocery money on a toy. I took the $100 from the Grocery envelope and spent it on the Blow Money envelope. Yup, I got Mrs. MBG's permission before doing that. We still ate very well.
Moving forward and my paycheck size is much more modest. Now I'm making less than half what I made in the last paycheck. Things are back to normal.
The great news is that what I lost from my income was gained in the form free time with Mrs. MBG. Having two days off a week is wonderful. We have had a date-night, two in a row actually.
Wow, it's been just over one year that my budget and income has been published right here. Thank you for following along at home. The main purpose for sharing my budget and net worth online is accountability.
The December 21 - January 4 budget is for the biggest paycheck of my life ($2,208.90). It isn't groundbreaking in its size. It is just a little bigger than before. Like all things budget related, small things over a long time add up to big things.
To better represent the category of the above budget I broke out $400 from Home that I set aside for income Tax. Since I claimed Exempt on my W-4 I need to be prepared for Taxes in April.
Moving ahead to the January 5 - 19 budget. My income here is now my biggest paycheck of my life, $3,003.40 (and I thought the last check was good). This paycheck is outstanding. I worked 29 out of 31 days in December. Average hours per day was 9.5 over those 29 days.
Working toward paying the mortgage one month in advance. Currently I am paying my portion of the mortgage from my first check of the month. I am working toward being a full month ahead on all my bills.
About a bazillion dollars is going into a bank account for landscaping in the backyard. The balance in the account is nearly $9,000 right now. We still have a long way to go on this budget item. 2016 is going to be a grind to hit all our goals.
This post includes Christmas 2015 and I would like to give a big thank you to Mrs. Money Bacon Guy for buying three month membership in the Bacon of the Month Club! THANK YOU WIFE!!!
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comment guide: In the debate about earning more or spending less... I lean toward spending less but higher income is always helpful. What is your preference? Do you like to tighten spending or work harder? How do you balance life?
Home sweet mercy look at that Home Budget! It's enormous. Are homes really this expensive? Ive got a few more one time expenses before the home is really a sweet home. What is coming? Keep reading.
Back-yard landscaping is going to be a bigger budget than I had anticipated. While we were shopping for houses in early 2015 my wife and I guessed a yard would be about $6,000 for a few trees, some rocks and a water line.
Turns out the formula for a yard is double your estimate, then double that amount. Yes, nearly $30,000 for the yard of our dreams. In order to achieve the goal of creating a back-yard oasis I began working and saving. Saving and budgeting is going to help us meet our goal.
The last paycheck of 2015 arrived on December 21st and it is the largest paycheck of my life! Mrs. MBG's checks are consistent since she is on salary. When I put in extra hours I really see results on the next check.
When an unusually large paycheck is earned there are unusually excessive taxes on the earnings. So for this check I changed my W4 to EXEMPT. I understand taxes will be due so I set aside $400 for IRS taxes.
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