As I posted a few days ago, one goal for February was a zero based budget. I worked on it over the weekend. A couple categories may need to be tweaked at some point.
Variable Expenses: Utilities, Medical, Transportation, miscellaneous, food
Fixed Expenses: Mortgage, Student Loan, Emergency Fund, Savings are fixed.
My food budget also includes eating out and alcohol purchases. My utilities are dependent upon the weather (cold weather= higher electric bills, I have electric heat). Transportation is gas, and gas prices for the car vary depending on what I do during the month and the price of gas. I've got a couple doctor appointments that won't be fully covered under my health insurance, so I've budgeted for those. The remaining $425 will be earmarked for my emergency fund. I'll take $212 at the beginning of the month and add it to my EF and the $213 will be deposited at the end of the month. I just want to make sure I've not missed something my first zero budget month.
Now to really stick to my zero based budget.....
Cash Flow worksheet
Monthly wages/salary $2,300.00
Total monthly income $2,350.00
Student Loans $175.00
Emergency Fund $200.00
Total monthly expenses $1,875.00
Monthly income $2,350.00
Minus monthly expenses $1,875.00
Minus monthly savings $50.00
your surplus/deficit $425.00-earmarked for emergency fund.