Since we will be working on a variable income from now on (my husband’s is stable but mine is variable), I have set up the budget differently.  Ideally, I would make enough from home to give us enough money to supplement my husband’s income so that we can not only avoid dipping into our savings, but actual grow our emergency fund and put aside money for a house down payment, a new car, and our retirement.

What follows is an optimal budget.  Whatever is below the line is money we will contribute if we make enough monthly.  What is before the line is money we must have to live our lives.

For June’s budget, we are working on my husband’s salary of $1,888.69 and the money I earned in May, $799.75, giving us a total of $2684.44.   Here is the plan:

June Base Budget 2011

Laundry 40 (we have to use a coin operated washer; we air dry our clothes)

Rent 1000

Groceries, Toiletries & Diapers & Eating Out  550

ComEd 70 (our second floor apartment gets HOT because we have a flat black roof above us, so we will definitely be running the air quite a bit)

AT & T 28

Comcast 82

Son’s school 0  (We have a one month break from this before we start paying again in July.  He is going to a summer school, but that money has already been set aside from our tax return)

Son’s dance class 0 (I clean the studio one day a month to get his tuition for free.)

Misc. 125

Gas/Transportation 200 (I had to raise this due to the rising gas prices & because we will be travelling out of state)

Student Loan 192

Life insurance 77

Husband’s spending money 40

My spending money 40

Clothing 100 (we will buy my son’s uniforms for next year)

Tithes Private

TOTAL $2544.00

Additional Budget, If Money Is Available

Emergency Fund  70

Car Repairs  70

Vet Bills

New Car Fund

House Down Payment Fund

Roth IRA Contribution

Total for Additional Budget:  140

Total for June:  2684.00

This month I brought in $789.75 through writing/advertising/virtual assistant work.  I have been hoping to make $500 a month; I figured the beginning of the year I would make less than that but by the end of the year I would be making more monthly. So far, I brought in an average of $400 a month. Hopefully it will continue to go up.

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