NowImDownInIt
10-14-2008, 06:30 AM
This is a more in depth look at some ways to save in a Chapter 13.. using my REAL monthly budget and the budget listed in my 13 filing. We don’t use any fancy budgeting tool, just a spreadsheet I created and we each have a little book that we write ALL the details of our spending moment to moment. This has helped us cut down on the little things.
When I filed I put that DF contributed $600 to the monthly expenses, we did not include his truck note, insurance, or any of HIS other bills in the monthly expenses so $600 was reasonable. So this does not reflect MOST of his bills or income.
This brought the monthly net combined household income to: 4029.49
So…
Income: $4029.49
Schedule J:
Rent: $575
Electric: $250
Gas: $75
Cell/Cable/Internet: $215 (but actual was more like $331)
Home maintenance: $50
Food: $525
Laundry/Dry Cleaning: $100
Medical/Dental: $34
Transportation: $435
Entertainment: $60
Car Insurance: $150
Dependant Care: $709
Pet food: $20
Hair Cuts: $6
Auto Repair: $75
Total: $3395
Actual Expenses:
Rent: $695, this has gone up a little, because I’ve been forced to move due to Hurricane Ike.
Electricity: $175, I’ve been able to shave quite a bit off of this “standard” expense by using tips I’ve found online.. Including replacing bulbs, and setting my thermostat 3 degrees warmer than I usually leave it at.
Gas: $13………$0, Yah, this isn’t all me. I had a non-functioning water heater, so I boiled water on the stove for hot water. I can’t take much credit for that deficit… Now that we are moving that number will drop to zero, since we will be all electric.
Cell/Cable/Internet: $230 This may look like I’m not saving anything. So I’m going to let you in on something. I TOTALLY undershot that in my schedules. I didn’t know if the reality would be considered an allowable expense on the schedules. 4 months ago, we were paying $331 for Mike’s phone, my phone, cable and internet. Cable and internet making up $181 of that total. Since then we have dropped to an $80 cable/internet bundle that has DS favorite channel still and the same speed internet. DF and I have signed up for a family plan. That saved us a BUNCH. We also cut out all premiums, such as HBO, Cinemax, and Showtime that used to make up the bulk of our entertainment.
Home maintenance: $10… There is just no way that I buy $50 in cleaning products a month. The only things I really replace monthly are air fresheners and toilet bowl cleaner. I am kind of OCD about a clean toilet. I live in an apartment, so home maintenance is not really a major expense for me.
Food: $250…..$160 Right now, we are spending about $125 every two weeks on groceries.. Including diapers. I have started writing meal plans and making a list before I head to H-E-B… this really cuts down on impulse purchases, which I’ve been known to make a lot of. I plan on utilizing Angel Food in the coming months to drop that cost down to about $160 including diapers, for the month. My son eats 2 meals a day, 5 days a week at day care (and believe me, we pay for it) so that cuts the amount that we spend on groceries a bit.
Laundry: $10… I buy detergent and wash clothes at my mom’s. I plan on buying a used washer and dryer from Craigslist or a used appliance store within the next few weeks. Our new apartment has W/D connections and I’m thrilled!
Medical dental: $100… This is one place that I’m just NOT saving any money. I had to order new glasses this month, they were $40. My son has been getting sick a lot and his co-pay is $25 a visit, not to mention prescriptions. This will eventually go back down but I have to say, honestly, no savings here.
Transportation: $380…..$190 Again. I can take NO credit for this. I fill up twice a week. I drive nearly 700 miles a week for work. Gas prices in my area are down from $3.50 to $2.79…. This is not even taking into account that I’ve moved 30 miles closer to work. That will mean I fill up only once a week which will save me another $190… The gas prices are going to continue to drop for a little while, so this is all good.
Entertainment: $40 Twice a month, DF and I go the dollar theatre here in town, where we spend (including snacks) exactly $12. This past Saturday we watched the new Indiana Jones movie while MIL watched DS… Ain’t it grande.. The rest of our budget goes to Netflix, which we got to replace the premiums on cable.
Car insurance: $128… Not much to say there. LOL. I added DF to my policy and got a nice discount.
Dependent Care: $709 Hmmm… you see where the majority of my budget goes? DS is very well taken care of, and though I could switch to somewhere with a lower weekly rate, I won’t. This is THE best in the area, and I won’t go somewhere subpar for child care.
Pet food: $0… Sold the guinea pig for $20 on craigslist to someone that had more time and attention for her.
Hair cuts: $6… That’s really $30, twice a year and doesn’t break the budget. My sister does bang trims for me in between.
Auto Repair: $10… That’s $30 for an oil change 4 times a year divided by twelve. The rest of this goes into savings in case I have a car emergency, like new tires, or brakes, or I get in an accident and need a deductable. I drive a 06 Chevy so not only do I seldom need repairs, they are fairly reasonable when I do.
Potential total: $2463
Potential savings: $932
So to recap.. I have the POTENTIAL to save $932 just from what was listed on my schedules… No, I won’t be able to do this every month.. and yes, I may very well end up spending some of this before it ever makes it into my savings account, but there in black and white are some ways to save in a Chapter 13. These won’t work for everyone, but there’s always a chance that it could lend some much needed encouragement.
Currently in my savings account: $556… All saved SINCE filing BK, not much, but it’s a start.
When I filed I put that DF contributed $600 to the monthly expenses, we did not include his truck note, insurance, or any of HIS other bills in the monthly expenses so $600 was reasonable. So this does not reflect MOST of his bills or income.
This brought the monthly net combined household income to: 4029.49
So…
Income: $4029.49
Schedule J:
Rent: $575
Electric: $250
Gas: $75
Cell/Cable/Internet: $215 (but actual was more like $331)
Home maintenance: $50
Food: $525
Laundry/Dry Cleaning: $100
Medical/Dental: $34
Transportation: $435
Entertainment: $60
Car Insurance: $150
Dependant Care: $709
Pet food: $20
Hair Cuts: $6
Auto Repair: $75
Total: $3395
Actual Expenses:
Rent: $695, this has gone up a little, because I’ve been forced to move due to Hurricane Ike.
Electricity: $175, I’ve been able to shave quite a bit off of this “standard” expense by using tips I’ve found online.. Including replacing bulbs, and setting my thermostat 3 degrees warmer than I usually leave it at.
Gas: $13………$0, Yah, this isn’t all me. I had a non-functioning water heater, so I boiled water on the stove for hot water. I can’t take much credit for that deficit… Now that we are moving that number will drop to zero, since we will be all electric.
Cell/Cable/Internet: $230 This may look like I’m not saving anything. So I’m going to let you in on something. I TOTALLY undershot that in my schedules. I didn’t know if the reality would be considered an allowable expense on the schedules. 4 months ago, we were paying $331 for Mike’s phone, my phone, cable and internet. Cable and internet making up $181 of that total. Since then we have dropped to an $80 cable/internet bundle that has DS favorite channel still and the same speed internet. DF and I have signed up for a family plan. That saved us a BUNCH. We also cut out all premiums, such as HBO, Cinemax, and Showtime that used to make up the bulk of our entertainment.
Home maintenance: $10… There is just no way that I buy $50 in cleaning products a month. The only things I really replace monthly are air fresheners and toilet bowl cleaner. I am kind of OCD about a clean toilet. I live in an apartment, so home maintenance is not really a major expense for me.
Food: $250…..$160 Right now, we are spending about $125 every two weeks on groceries.. Including diapers. I have started writing meal plans and making a list before I head to H-E-B… this really cuts down on impulse purchases, which I’ve been known to make a lot of. I plan on utilizing Angel Food in the coming months to drop that cost down to about $160 including diapers, for the month. My son eats 2 meals a day, 5 days a week at day care (and believe me, we pay for it) so that cuts the amount that we spend on groceries a bit.
Laundry: $10… I buy detergent and wash clothes at my mom’s. I plan on buying a used washer and dryer from Craigslist or a used appliance store within the next few weeks. Our new apartment has W/D connections and I’m thrilled!
Medical dental: $100… This is one place that I’m just NOT saving any money. I had to order new glasses this month, they were $40. My son has been getting sick a lot and his co-pay is $25 a visit, not to mention prescriptions. This will eventually go back down but I have to say, honestly, no savings here.
Transportation: $380…..$190 Again. I can take NO credit for this. I fill up twice a week. I drive nearly 700 miles a week for work. Gas prices in my area are down from $3.50 to $2.79…. This is not even taking into account that I’ve moved 30 miles closer to work. That will mean I fill up only once a week which will save me another $190… The gas prices are going to continue to drop for a little while, so this is all good.
Entertainment: $40 Twice a month, DF and I go the dollar theatre here in town, where we spend (including snacks) exactly $12. This past Saturday we watched the new Indiana Jones movie while MIL watched DS… Ain’t it grande.. The rest of our budget goes to Netflix, which we got to replace the premiums on cable.
Car insurance: $128… Not much to say there. LOL. I added DF to my policy and got a nice discount.
Dependent Care: $709 Hmmm… you see where the majority of my budget goes? DS is very well taken care of, and though I could switch to somewhere with a lower weekly rate, I won’t. This is THE best in the area, and I won’t go somewhere subpar for child care.
Pet food: $0… Sold the guinea pig for $20 on craigslist to someone that had more time and attention for her.
Hair cuts: $6… That’s really $30, twice a year and doesn’t break the budget. My sister does bang trims for me in between.
Auto Repair: $10… That’s $30 for an oil change 4 times a year divided by twelve. The rest of this goes into savings in case I have a car emergency, like new tires, or brakes, or I get in an accident and need a deductable. I drive a 06 Chevy so not only do I seldom need repairs, they are fairly reasonable when I do.
Potential total: $2463
Potential savings: $932
So to recap.. I have the POTENTIAL to save $932 just from what was listed on my schedules… No, I won’t be able to do this every month.. and yes, I may very well end up spending some of this before it ever makes it into my savings account, but there in black and white are some ways to save in a Chapter 13. These won’t work for everyone, but there’s always a chance that it could lend some much needed encouragement.
Currently in my savings account: $556… All saved SINCE filing BK, not much, but it’s a start.