Happy New Year, friends! Here we go. This is the first month I’m sharing my monthly budget and goals with the world. I’m nervous, so please be easy on me. 😉 As I shared in my post about saving $10,000 in a year, this is not your typical budget. It won’t include my husband’s income or any of our household expenses. My husband and I manage our money separately, and this only includes my income and expenses. At the start of each month, I will share my monthly budget, including expected income and how I plan to spend/save/invest it for our family. Due to the nature of my business, this amount will fluctuate from month to month.
I will also share my top goals for the month, which may or may not be financially based. For example, this month I plan to finish my business website, work on organizing, and of course, read. At the end of the month, I’ll share a new post with a recap of how I did!
Top Goals for January
- Brainstorm high-level editorial calendar for 2022
- Publish business website (joleenpete.com)
- Major clothing purge!
- Read 5+ books
Expected Income
| Freelance Writing | $900 |
| Virtual Assistant | $1,800 |
| Social Media Management | $650 |
| Photography | $200 |
| Affiliate Marketing | $110 |
Total expected income: $3,660.00
Bills
| Monthly bills (business subscriptions, tax withholdings, assistant) | $887.94 |
| Annual Business Registration | $150.00 |
Variable Expenses
| Food (pocket money) | $30 |
| Fun (pocket money) | $10 |
| Backpacking trip (still purchasing my gear/supplies) | $450 |
| Business sinking fund | $25 |
| Benjamin’s Allowance | $25 |
| Personal Projects | $10 |
| Stash Investing | $45 |
Total in bills and variable expenses: $1,632.94
Debt
| Payment | Balance | |
| Family Debt Contribution | $500 | n/a |
| Paypal Credit | $100 | $628.96 |
| Southwest Visa | $250 | $1,805.06 |
| Capital One | $100 | $536.54 |
| U.S. Bank | $100 | $895.20 |
| J. Crew | $100 | $517.37 |
Total in debt repayment: $1,150.00
Savings & Sinking Funds
| Contribution | Balance | |
| Emergency Fund | $125 | |
| Christmas Sinking Fund | $50 | |
| 40th Birthday Trip Sinking Fund | $150 | |
| House Savings | $100 | |
| Car Savings | $50 | |
| Health Sinking Fund | $40 | |
| 529 College Fund | $50 | |
| Summer Camps Sinking Fund | $75 | |
| B’s 10th Birthday Party Sinking Fund | $60 | |
| Babe Savings | $50 | |
Total monthly savings planned: $830.00
January 2022 Spending Breakdown
When I post my monthly budget and goals recap at the end of the month, I will come back and link it here!
