Facing the Budget as it Is

So as often happens in the budget process there's good news and bad news. 

The good news?  I am no longer subsidizing tuition payments at an expensive college. Six thousand dollars a semester is off my plate. Which is good, because that was really pushing it and I was not meeting some of my other obligations. As far as assistance to offspring, he's lived here for five years, I paid tuition two years, and while I may buy him things now and again and he still lives here as needed, no more. To be clear, he cooks, cleans, contributes works full time and goes to school full time and works very hard. And makes no demands. Ever.

The bad news? You knew there had to be some. I'll be increasing expenses in a couple areas. There will be increased rent and some past due obligations to family that can now be paid. Since I rent from family and do not want to be one of "those" people, I'm increasing my rent as well as obligation payments to family. This will add $300 to the outgoing pot. I'd also like to be able to pay more than my share of other expenses like groceries and such in house, to help my sister be able to actually save some pre-retirement money. She will have no pension or savings other than SS. Not through her own fault as such.

The other biggie is the medical thing. I suspended my $125 a month Federal health insurance to take on zero cost Medical advantage plan. I promised myself that I would put that amount into a separate savings account for future medical expenses. That my friends, has not happened. So that's another change that needs to be adjusted for. I probably will up that to $200 and treat it like my own health savings plan if you will.

After the new budget, my numbers are still really good. If I've done my math. Truthfully, I had not realized how much I was spending on helping kids, between tuition and their times of unemployment. 

To be clear, I don't regret that on some level, because they work very hard study very hard, do things around the house really hard-and hopefully because of that have a good start on life. I don't wish this to turn into an adult kid discussion here. 

But I also believe that the best thing I can do for my kids is to take care of ME, financially, physically and all the rest. So as of today, my financial direction is moving. 

I am not a good financial manager (duh). When my late husband was around he did it. But darn it, that was ten years ago. I can do this. I have to do this. I have things I want to do, and things I need to do.

As such, I want to re look at expenses in the $1200 that is "Barbara's pot of spending", which includes food, eating out, clothes, entertainment and fun (an all encompassing category), personal care, hobbies (in this household that does NOT fall under entertainment), and that "misc" category which includes gifts and other such. There is no charity category as most of my charity is doing and making, which fall under the others. Nor is there a travel category right now, but that will change, at the expense (was that a pum?) of all those other catgories.

My next "Barb's money" post is about the biggie: food. Food out and food in. And how to cut the food in when the primary cook doesn't cook as such (yea, he did all that as well) and wants to eat fairly healthily. Believe me, I look forward to all you have to offer in your wisdom.

Hit me!