What does it cost us?

As a family of six to living in the southern United States we need roughly $2700 a month to meet our monthly expenses as they are now. Below is a list of our monthly financial obligations.

$339 Tithes
$925 a month for mortgage and homeowners insurance on a 5 bdrm/2.5bath 2,256 sq. ft. home
$450 monthly for car payment
$51 per month for life insurance
$150 monthly for gas and electric
$84 monthly for cell phones
$127 monthly for cable, telephone and internet
$91 monthly for car insurance
$40 monthly for water
$67 monthly for YMCA
$14 monthly for Sirius satellite radio
$16 monthly for sewer service
$240 monthly for groceries
$60 monthly for pantry (groceries)
$12 monthly for homeowner’s dues

(investments and dental are pre-tax deductions and are not listed as a monthly expense)

Total $2626

If my husband were to become unable to work we could live off of our savings. We would eliminate the following expenses. Tithes (since they are paid based upon what we make we not have a tithe responsibility since my husband doesn’t have an income, but I am quite sure that we would still give an offering to our church as we have done in the past when my husband was out of work). Cable and internet, YMCA, Sirius, pantry surplus and reduce the grocery bill by $40.00 a month. This would reduce our monthly obligation by $772.

$925 a month for mortgage and homeowners insurance on a 2,256 sq. ft. home
$450 monthly for car payment
$51 per month for life insurance
$150 monthly for gas and electric
$84 monthly for cell phones
$35 monthly for telephone
$91 monthly for car insurance
$40 monthly for water
$16 monthly for sewer service
$200 monthly for groceries
$12 monthly for homeowner’s dues

Total $ 1854

This post was inspired by Kacie over at Sense to Save. Her post is titled How much two 20-somethings pay to live in Pittsburgh. Stop on over and check it out.

Comments

  1. Hadias says

    Hey Kaci. We could be paying less on internet but we would give up the speed. While homeschooling I really need to have fast downloads and quick log ons.

    Also I used to use the internet alot for my husbands work. He’s a courier and would have roughly 30 stops a day that I had to map out on mapquest and organize, so we really needed the speed for his work as well. But we recently invested in a navigation system for the car and may be able to downgrade a bit on the internet service.

    I was considering eliminating my phone bill by using only cell phones, but my husbands work requires he fax information daily to companies so that plan didin’t work.

    Thankfully football season has ended and so will our subscription to cable. My husband is frugal but not frugal enough to go through footbal season without cable.

    So we cancel our cable this week reducung our bill by about $55.00.

    I am trying to convince my husband to use a portion for a Blockbuster or Netflix subscription and the rest to add to our emergency fund.

    We’ll see. But to answer your question regarding surplus. We use it to get caught up on bills and to pay down debt. If all bills are up to date we may rent a movie or treat the family to a special dinner. Some extravagant meat that cost more than $1.99 a pound 🙂

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  2. ~Me~ says

    Isn’t it amazing how when you tithe, everything else seems to fall into place financially? Thank you for your inspiring blog!

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  3. Earthmommy says

    You guys are doing very well, especially for a family of six! Your grocery bill is very close to ours for five people so you have inspired me to see where I can save more.

    Do you and your hubby work together on financial management or does one or the other of you do it? I ask because here I am responsible for budeting and paying the bills and my hubby tends to be a big spender so I always end up being the bad guy saying we can’t afford this, that or the other thing.

    By the way, we are paying more for our rent than you are for your house payment, mortgage insurance and HOA fees, which makes me think we ought to start looking to buy sooner rather than later! Taxes here are super high though.

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  4. Paz says

    Great job! I can’t wait until electric cars become more widely available because we’ll all benefit from that. Keep up the good work, and develop further skills to make more money.

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  5. Byron Udell says

    Isn’t it amazing how cheap life insurance is compared to everything else you pay for? And think about what it does for your family if your husband was to die? I noticed you don’t have disability insurance listed. You may want to look into that as well.

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  6. Kacie says

    Hey!

    Looks like you’re doing really well–for a family of six I’m super impressed!

    For leftover money, do you use that for clothes, gifts, etc.?

    Also, $127 for your cable/phone/net package seems a bit high. Is your company offering a $99/month promo? Maybe you could call and try to get the current promotional rate.

    Never hurts to ask!

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