Sunday, June 28, 2015

Reviewing the household budget


I was able to immediately shave $160.50 off. I cut/eliminated: clothing (once you are 18,  I stop buying clothes if you need them-YOYO but I tend to offer some at birthdays/Christmas), school expenses (we still have a ton of supplies, if something comes up, I'll borrow out of groceries), vacation (haven't taken one in years, and with me needing my Summer's for recovering from surgery . .), library fees (I include everything in my budget, am very realistic. So I have to get MORE realistic and ensure that stuff is returned on time!), postage, household goods (Currently my main TV is dying, toaster/convection oven needs replacing-both will be purchased new, need 2 lamps for the boys rooms)-can't think of any other HH goods we will need. We do have some wants: grey twin comforter for DS #2, 2 more window A/C's. I'll start a small, EF from things that I can sell, my CC rewards points, etc. -all small income streams and set that aside as a slush fund.

Next up: the Verizon bill. DS #1 has known that once he hit 21, I wouldn't be responsible for his cell phone bill. He currently owes for the past few months. He's ticked off still at me, but did come over to talk yesterday, about another issue. I reminded him that he needs to reimburse me, or I simply drop him. DD has been on her own plan for a while now.

Now that I am analyzing everything, with having to absorb the increase in rent with the 2 lodgers out, I am researching my options. I will work with DD on this tonight. Upon initial review of their various plans, I am thinking of the following:

1-moving special needs kidlet over to his own account (would be easier for reimbursement purposes for me) He is the only one on my plan with a Smart phone
2-moving kidlet # 4 to a pay as you go plan as he never uses his phone (it's an old flip style)except when his Dad calls. Don't ask me how, but he uses his Ipod as a quasi phone. He never takes his flip with him when he is out (drives me nuts-what if he needs to be picked up? there is an emergency? sigh)so it makes sense to just pay for the 4-6 calls he gets a month @ 25 cents a call plus 25 cents a rounded up minute. His line is currently costing me just over $15/month
3-with kidlets # 3 and 4 situated and off my line, I can move myself to a single line plan. Currently, after reimbursement, I am paying $112 and change for my and kidlet #4's phones. Time to rethink this.

So I anticipate that DS #1 will be PO'd even more at me, but hey, I stand to save $65 approx/month if I understand the plans as I read them on line. $780 more would be in my pocket when I am scrambling to make sure I have enough to buy a home next Spring


Belinda said...

My daughter will turn 18 in October, but it will be her senior year. Her child support will end in May of 2016 and I am thinking along the lines you are as far as cell phones and other expenses go. I've done a lot of research and gotten my portion of our cell phone bill down to $70 a month now. It really pays to keep those older phones that are still working as I find Verizon more than willing to lower our bill by $10 every few months or so. I called last week because we had an outage in our area and none of our phones were working. While they had me on the phone they checked and lowered my bill another $10 per month. It pays to call them.

CT Bargain Mom said...

We struggle with the phone stuff as well. Between them and comcast - they're trying to make our heads spin.
Sadly I'm sure that your oldest boy will be steamed if you cut the cellular cord - but he will survive. It's not like he didn't know the day would come. I think you've been really upfront about what you can continue to do for them and for how long

Mary Lou said...

As far as cutting out clothing when they are 18. I didn't do that if they were still in school as long as it was a need and not a want. If they are working, wants could be handled by them.

CTMOM said...

MaryLou, I wean the kids off of my buying clothes once they are 16, and become ubber picky. At that point, I pay for big ticket items: Winter coats, shoes for example. Both of the younger kids @ 17 have plenty of clothing, much of it recently purchased and gifted to them. No worries.