My Bare Bones Budget

NOTE: Had some problems with formating but I think I got it.

No More Spending has posted her Bare bones budget with a link back to I’ve Paid For This Twice Already’s Living In A Down Economy – Determining Your Bare Bones Budget in both cases they are posting there budgets for all to compare. Very interesting. Here’s a quick run down of how I compare

No More Spending:

· Mortgage: £862

· Food: £200

· Council Tax: £122

· Utilities: £220

· Fuel : £120

· Life Ins: £22

· House Ins: £20 (Buildings not contents)

· Debt Pyt: £492

· Total: £2,058

Paid Twice

· Housing: $950

· Groceries: $300

· Gasoline: $100

· Utilities: $200 (gas, water, and electric)

· Diapers: $30

· Medicine: $30

· Car insurance: $80

· Phone: $10

· Minimum debt payments: $610.40

Total $2310.40

Me

· Rent 950€

· Utilities 100€

· Phone/TV/Internet 110€ (this includes a 6€ phone card for calling home)

· Weekly 600€ or 150€ per week (see below)

· Car Insurance 50€

· House Insurance 50€

· Mobile/Cell 100€ (this would increase as we’d both need phones)

· Private Healthcare 0€ (we’d have to go on the Spanish system)

· Tithe 10% (income will vary depending on hours each month)

Break Down of Weekly

• 70€ shopping
• 40€ petrol
• 40€ misc

Total 1960 plus tithe based on a 4 week month. As ESL teachers in Madrid that would be tough to live on. While you can earn up to 1300€ (2600 together) it’s seasonal work which means we need to save up money for the summer. The big problem is that rents (reflecting out of control house prices) are so steep. We’d have to get our rent down to 700 or less. Not sure we could do that.