trying to figure out how good we are doing financially?
Posted in Personal Finance on 08/13/2009 03:02 pm by admin
This is going to be embarrasing, but i don’t know if we are doing ok or not. I don’t know what the norm is for money leftover after bills but according to a debt/income ratio i did today we are at 34% which is good, i guess.
My husband makes 1333 twice a month (that is what we see after taxes) there is a addtional 125 going straight to our savings account each month on top of the 1333 twice a month.
Our bills are as follows
first check
car-291
insurance-62
elecric,gas,water 200
credit card 170
cable-93
which leaves 517 left for gas and groceries
second check
mortgage 600
home equity 103
home phone and internet 100
cell phone150
which is a little tighter at 380 for gas and groceries
total for the month we have 917 left in our checking, including the 125 that is in our savings its 1042 a month.
I just am curious how we are doing financially? I’m scared to death about this kind of thing and fear we are doing something wrong. We are military so no health ins.
well we’re military so no job loss..and no unexpected medical bills. we really don’t have to worry about that because its a secure job.
no credit card is what we decide to pay on it..that isn’t the minimum payment. We have a home phone and a cell phone because up until a month ago we only had a home phone. Effective the 26th we will no longer have that home phone. The second mortgage was to redo our home, its almost paid off now, it was only 10,000.
oh and why don’t i work? I have two small children and noone to care for them. We don’t live near our families. There is NOTHING wrong with being a SAHM parent.
ARNOLD