I'm putting my budget out here for a couple of reasons. One, I'm very curious about other people's budgets and I love when I find a post that's honest and that includes specific numbers. Two, over the past couple of years I've managed to pay off about 25K in debt, but I don't really have a record of it and I think it will be nice in the future to be able to look back and see how far we've come.
In order to pay down debt our family of 4 (almost 5) is living in a two-bedroom apartment in a house that belongs to my family, which is why you don't see typical housing expenses on here and why we are able to live with one income in a very HCOL area.
Income after taxes:
Bi-weekly paycheck 2,155
Residual payments from law practice conservatively 100/month
Monthly income approximately 4,400
Expenses:
Fixed
Car Payment #1 360
Car Payment #2 300
Ins. 120 (Life, Car, and Renter's)
Bar Loan #1 105
Bar Loan #2 105
Undergrad Loan 100
Netflix 12
Homeschool Website 6
Subtotal 1,100
Variable
Speech Co-pays 80
OT Co-pays 160
Social Skills class 80
Gas 250
Groceries 400
Other 500 (Clothes, eating out, entertainment, unexpected stuff)
Haircuts 25
Subtotal 1,495
Goals for Debt Payoff:
Pay off zero interest card #1 1000
Pay off credit card 3200
Pay off zero interest card #2 2700
Pay off undergrad 2000
Pay off Bar Loan #1 9000
Pay off Bar Loan #2 9000
Debts I Can Live With for Now:
Van 12,000
Car 17,000
Law School Loans 250K? (On income based repayment plan with 25 year cap, will likely never truly pay off until 20 years from now).
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