Take home pay of $699 is about the least income I have seen in a single paycheck in a long time. The reduced income is partially a result of increasing my 401K deduction to 15%. $235 was deducted and deposited into the 401K. In addition $235 was deposited into the 401K by the employees match!
Just because the budget was small I still had high expectations to enjoy the Fall weather. Mrs. MBG and I drove to Lake Tahoe and circled the lake. We ate out at Cabo Wabo in South Lake Tahoe and had a ton of fun with only a little bit of money.
If you looked at the final budget above you may notice the Other category appears to put me about $395.57 over budget. I bought a beach cruiser bicycle on Amazon.com. The bike has been on my wish-list since we sold my last bike to help get out of debt almost a year ago.
Not noted in my income is a settlement check I received from a lawsuit that had been in the court system for nine years. A past employer had wronged many employees in California and I represented them in a class action. The $540 check makes me question the legal system but it also helped me pay for the bicycle that I plan to enjoy for years to come.
In the epic argument about renting verses owning there are many factors. Sure renting has its advantages. But now we are homeowners. We became homeowners on September 16th 2015. And all the expenses that come with home ownership are descending upon us.
No regrets. In the long-term I believe home ownership will be the right decision. In the short-term it's costing a shit ton of money. Between taxes, HOA dues, changing over the utilities, adding new bills like sewer and trash it kinda feels like bailing out a sinking ship with a dixie cup of an income.
The biggest win in this budget is squeezing out enough bacon fat to buy a new pair of shoes. I am hard on my shoes so I need to replace them about every three months. The biggest loss in this paycheck is the utilities. Because we are in a new property I didn't estimate the utility costs. I just waited till they arrived and let them hit me in the chops.
comments: What do you prefer; rent or own? What reasons do you have for the opinion?
Budgeting with a low income
Budgeting with a low income sucks. Ever drop your bacon on the floor? If you have then you know the feeling of getting a smaller than normal paycheck.
A tip for budgeting with a low income is one word. Prioritize. What is important? Put that at the top of the budget and put money toward that. As a new homeowner the Home will always get $400 of every paycheck, and usually more.
Bringing home the bacon
The term "bringing home the bacon" has a history that goes way back. When married men didn't abuse their wife for a year they were rewarded with a butchered pig. They would literally bring home the bacon.
Bringing home the bacon is a little different now days. It usually refers to making money. I took a few vacation days and gave away a few shifts. It resulted in lower pay. The trade off is that I was taking care of my wife by making improvements to the house.
Mrs. MBG and I have worked really hard to add the finishing touches on the new home. It required a lot of hard work. I guess we are both bringing home the bacon because we didn't kill each other in the process of moving and unpacking.
Check out the 💰(budget) LOL!
When I don't work, I don't get paid. I really learned how to prioritize with this itty bitty paycheck.
It's not about the size of your paycheck. It's what you do with it.
I enjoy money and bacon.
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