Working the budget

Since I am self employed, I have my own separate bank accounts and hubby has his. We split the bills up and he pays his share and I pay mine. It just works better this way.

When I am working, I make sure to put away money for income taxes, as I don't have them taken off during the year. I also sock away extra incase I am off between contracts for any length of time.

Well I just worked out my budget. After paying income tax (estimated), my half of the new windows cost, putting a large chunk towards my Visa and paying the property taxes (one of my bills), I will have enough left over to pay all my monthly expenses for 4 months - but they will be very lean months. Absolutely no extras.

If I get work before then, great, but it is nice to know how long I can survive if I have to. Of course if it were longer I do have hubby and a line of credit to fall back on, although, I'd rather not have to burden either.

There are a few bills that I can try to lower, hydro, gas, water and groceries.

I did just do that freezer inventory and we have a lot of meat. I have allocated $100 a week to food, so I may be able to reduce this a tad. I will be cooking from scratch as much as possible.

Gas & hydro - I can keep lights off and lower the temp some. Wear more layers :)

Water - I am guilty of running the faucet while washing dishes. I'll have to stop that. I also have to get the kid to take shorter showers, it is a hassle just to get him in there, but once I do, I practically have to drag him out again.

All in all, it looks totally doable. It may take a bit of work to be frugal, but I like being able to stay home:)

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For more great frugal ideas, check out Life As Mom.