Although out lease began June 1, we didn't start residing here until June 10th. I closed out the former rental, and continue sorting thru some boxes here. Bills were high, as anticipated, as I was covering expenses for 2 homes. I am anxious to receive this month's singular bills as a means to get a better handle on just what my new living expenses are.
My line budget items/categories:
-Rent and utilities: electric, natural gas, water, sewer, Netfix, Verizon, cable/Internet
-Insurance: including renters, auto, life
-Personal care expenses for me: clothing/hair care
-Pets: vet bills, RX food and supplies
-Food: grocery and restaurant
-Celebration: Xmas, birthdays
-Auto: gas, repairs/maintenance, tax, car wash
-Msc: newspaper, accountant services, rug cleaners, postage, household goods
Child support ended in June. Our former household budget accounted for 80% of take home income (*I have always based my budget on take home pay/income). Factoring in the elimination of C/S, this changes to 91%. This became far too close for my comfort.
Decisions were made, I researched options before making informed choices. The move to a townhome style condo has proven very positive so far. Add in accessing city services, in particular for special needs son, and costs are going down for me.
Today, I reviewed my new, revised household budget, looking for areas to tweak, if at all possible. Some cuts and reductions were made.
I will be on full salary until March 1, meanwhile, I am seeking additional revenue streams and employment. I will be consulting my CPA to confirm what my bottom line is, my short and long term financial goals. Fortunately, part of my retirement incentive package is medical insurance until Sept 1, 2017. This gives me options/time as I seek new employment.
My goal is to attempt to live on my anticipated retirement income (approx. 52% of current salary)and stash any additional income into my nest egg.