my budget

Here is my monthly expense budget. I will also post my anticipated pay off of my 2009 goals shortly (friday or saturday). I can't post it right now because I have been playing with my withholding. I have changed my federal withholding to single 3 although I left California at single 2. I am now rethinking that decision. California is in such a horrible state (excuse the pun) of bankruptcy that I want to make sure I am not owed a refund at the end of the year. I want to make sure I owe THEM money due to the fact that California is issuing IOUs instead of refunds this year. how embarrassing! I mean, the budget hasn't been approved on time in 3 years. It is pretty lame. I know what I would do, but we'll leave politics out of this blog for awhile, at least until I feel like I know ya'll a little better.

yearly budget divided into monthly installments:
$69,326 divided by 26 = $2666.4 x .70 = $1866.48 per paycheck take home (approximate)

monthly budget:
federal loans $335 -- due on 18th of month
PLUS loan $187 -- due on 1st of month
(loan total: $522)
rent: $441 -- due on 1st of month
utilities: $44
food: $400
gas: $75
car insurance: $118 every 4 months -- due on 30th
total: $1600 (without loans: $1078)



Tidbit about withholding: If your salary is increasing, don't worry about changing your withholding a few times to find the sweet spot. All the fed and the state care about it whether you are increasing your monthly tax payments with your increasing salary. The increases don't have to be linear. you just have to make sure that you are paying more in taxes this year than last year, if your salary went up. The fed and state don't make you calculate your taxes before the year even starts, just make sure to give a "good faith" effort, and give more money than you did last year. but this won't be a problem IF your salary is going up. IF your salary is stagnant (like the economy) or unfortunately going down, do NOT do the above. You must pay at least the amount of taxes you did the year before, unless you were laid off or didn't work, etc. BF and I play with our withholding all the time. Infact, I think I am going to change my state withholding to single 3. just to be safe from IOUs. are any of you scared about this? is anyone withholding a little more because of the bankruptcy?

I also have a few gem Roth IRA articles I plan on discussing here once I get a little more motivated (and time). BF did a lot of research this week and last weekend. GAWD I love it when I don't have to do everything and I know it is being done right. don't you? You see, I'm a bit obsessive-compulsive and, I would assume, most PF addicts are too. am I right? I know I am right about a few of you out there. :) I handle all aspects of my finances and am totally engrossed. But taxes has never been an aspect that interested me. Its probably because you are LOSING money, instead of making it/gaining it. My dad did my taxes before this year, when BF and I got married. Now, it makes me happy that BF can take over the job and not get us into an audit since he has been doing and filing his own taxes since he was 20 or so. yay! But since I track and handle all our day-to-day and monthly expenses, this seems like a good trade off. dontcha think?

In personal news, I am going to a "pleasure party" on friday night at a good friend's house. I have never been to one of these before, so it should be interesting to put it mildly. There should be about 10 of us girls and hopefully a lot more than that of beers. I will let you all know how it goes.