After 2+ years of working, budgeting, and a whole lot of Dave Ramsey, I have finally charted out a plan to transition out of my full-time job and back into just being a MOM again! Carefully planned, charted and precisely refined – after much rumination I finally feel I am ready to set this plan into motion. My target date for turning in my notice to my employer is 9/5/2017. Yay! I am nervous and worried and excited all rolled into one.
For me, it was a big deal to plan it all out and write it all down where I could see everything step-by-step. First and foremost, I compiled a monthly budget made out of real actual numbers. Not just my best guess, but real facts that I could back up with documentation. Statistics that I could actually point to and use. I analyzed numbers from our current utility bills to find the average cost each month for electric, propane, cell phone, & internet. Average monthly rates for life, car & homeowners insurance were calculated. I scoured the county auditor’s property tax website for precise home values and the corresponding property tax. Mortgage numbers were included. “Mini emergency funds” for car and home maintenance were formed. Average lunch money, school expenses and kids sports & activities were considered. Spending in discretionary categories like groceries, restaurants & entertainment was metered out. Payroll deductions like taxes, insurance and 401k were greatly contemplated and fine tuned. Then throw in savings, giving and the college funds. Oh, and don’t forget Christmas!
Finally, after much ado about everything: the over thought, over analyzed, overwhelming Zero Based Budget was formed at last! After determining what we could count on each month from my husband’s income, our farm money, and my side hustles, it was decided we could be sure of at least $3225 to take home after taxes and deductions each month. Behold its beauty and wonder!
Just one last note, this is my “getting up and running” budget. I do plan to add back items like Netflix, savings and my YMCA membership once I get my sea legs for staying home. Also, I would like to upgrade to faster internet connections. But I have pushed pause on all these items at the moment, so you will see they are reflected as zeros in the budget line