Joe Morishige - Family Budget

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Regular Bills and Expenses

First Monday/Tuesday - 106.00 - Car Insurance

1st - 167.00 - Cell Phones

1st - 293.00 - Blue Shield Health Insurance

1st - 30.00 - Dental Insurance for Joe and Laura

15th - 30.00 - Creative Cloud

1st - 15.00 - Spotify

1st - 200.00 - Budget for Kai and Hazel Monthly Activities

= 735

Re-occurring monthly costs @ the inlaws (AKA: Survival)

Current Money Coming In: 2,085.31 every Bi-Monthly (4170 / month)

Out of Pocket Expenses:

(living incidental expenses (before any true bartering and/or path of sustainable living thrives))

Food: 1400.00 (Including eating out!)

Car Gas: 350.00

Animals: 50.00

Car Maintenance: 75.00

Kai's Needs (50.00 diapering): 75.00

Hazel's Needs: 50.00

= 2000.00 (Total)

4170 - 2000 - 735 = 1475 (Left Over)

Monthly Survival as it unfolds

Money owed by Monday June 6th:

+295.93 (Pay back from Tai)

+280.00 (Cash In Hand)

+100.00 (In Bank)

+620.00 (Owed by Davenport)

+520.00 (Owed by FHS)

= 1815.93 (Max total in-hand by 6/6

-62.38 (Due on the 6th)

-100.00 (Due on the 1st)

-30.00 (Due on the 7th)


May update - The home stretch!

$470.00 (In Bank)

$580.00 (Cash)

+

(Probable Incoming Cash)

45 hrs @ Tai's between 5/9 - 5/27

10 hrs @ Jackie's

55 * 20 = 1100.00

2150.00 Currently Available before 5/27

- 555.00 - 5/17 (CC Bill)

-170.00 - 5/20

- 300.00 Kai's Birthday

- 500.00 General Family Expenses

$400.00 - Due by the between 1st and 7th

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We've made it to spring on a razor's edge and we've a couple more months before any income unless Joe gets a job. Unless 1k is raised in the next month something will need to be sold around the time Mom leaves.

Ultimately we'll be needing about 3k more to safely make it to the time Laura will approximately start back to work.

Situation:

1223.42 (Current Liquid)

-600.00 (Taxes)

-265.00 LCC

-170.00 Tax

188.00 (In Pocket until $ infusion)

20160407 134609.jpg

Winter 2016 Budget It's time for Joe to find some work! - 12/19/2015

Currently in the bank: $2100.00 (12/19/15)

Money coming in by 2/1/16:

$400.00 (payment from makana)

$500 - $1000 (car crash insurance money)

Aprox. $3000.00 liquid asset until 2/1/16

That math until 2/1/2016: 3000.00

-92.00 (cc)

-15.00 (cc)

-272.00 (cc)

-170.00 (back tax)

-238.77 (cell phone)

-79.41 (car insurance)

-1500.00 (food)

-240.00 (hazel school)

-150.00 (car gas)

-50.00 (animals)

-50.00 (car maintenance)

-100.00 (kids needs)


!! 1/17/16 - 272.00 due

!! 1/20/16 - 170.00




Joe Need to get at least $1500 in hand to be financially stable with a good buffer if laura works 60 hours next month. Nuff said.


5th Wheel Arrival Budget Update: 7/16/15 - Making sure we don't go broke and have enough liquid asset to move the 5th Wheel.

Current in the bank: $1364.00

+ $450.00 (Final EDD Payment by 7/20ish)

+ $2560.00 (Laura income from 7/13 - 8/7)

+ $500.00 (Joe's income from 7/6 - 7/14)

+ $300.00 (Helping Kenji Move to Austin)

= 5654.00 (Total known income up to 8/7)

Bills and expenses leading up to 8/7

-2300.00 (Remaining balance to purchase shipping container.)

-200.00 (Approximate cost for land prep, concrete footings for shipping container. Will likely need to purchase additional tubing for grey water run off.)

-333.00 (Approximate moving costs for shipping container.)

-138.00 (Storage Unit)

-300.00 (Credit Card Payments)

-277.18 (1/2 of Property Tax for 300 Cortez)

-262.63 (Phones)

-170.00 (Back Taxes)

-800.00 - Food (Including Eating Out)

-300.00 - Cortez Land

-150.00 - Car Gas

-50.00 - Home Gas

-50.00 - Animals

-75.00 - Car Maintenance

-50 - Gymnastics

-20 - Garbage

-50 - Hazel’s General Needs

-100 - Kai’s Needs (Diapering Costs $78/month)

= $5575.81 Definitive Burn Until 8/7

5654 - 5575 = $79 left in the bank on 8/7 with still much of August Bills left to pay

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August 8/7 - 8/31 Expenses

-1000 - Food (Including Eating Out) -300 - CC Debt -170 - Back Tax Debt -300 - BC Land -200 - Car Gas -138 - Storage Rental -238 - Phones -50 - Propane -50 - Home Gas -75 - Animals -100 - Car Insurance -100 - Car Maintenance -50 - Gymnastics -50 - Hazel’s General Needs -100 - Kai’s Needs (Diapering Costs $78/month)

$2921 Needed to get through August

-79.00

2842.00

Joe Need to get at least $1500 in hand to be financially stable with a good buffer if laura works 60 hours next month. Nuff said.


Budget update synopsis:

With Laura’s recent addition of hours we will now be pulling in approximately $500 dollars above our budget each month while Joe is still on unemployment. (This $500 dollars will be over only while Joe is still on unemployment. This means that if Laura’s hours stay continuous Joe will need to pull in approximately $1300.00/month not including the $500 worked off to Josh each month to keep the family at a safe income.) This extra $500 should first be set aside and allocated for Laura’s taxes for 2015. After we have caught up with Laura’s taxes we should start saving in a general rainy day fund or consider paying CC debts at a faster rate. Things are looking up after a shaky start. This months primary changes need to come from Joe. Joe should start trying to develop some type of business plan so he can work 1 - 2 days a week. If Joe is able to work 2 * 8 hour days @ $20 each week he will pull in $1280.00. The ideal hope is that Joe can make this money in the form of cash as to not worry about taxes.


Budget Update: 1/20/15


$3300 - Available on CC on Joe’s card's

$3609 - Available on Laura's CC


Current in the Bank:

$3400

- 1558 (January Cobra)

1842.00

+ 1800.00 (EDD By 1/31)


3642.00

- 527.04 (Windy Hills Paid on 1/7 Likely to take back???)

3114.96

+ 960.00 (Pre tax laura’s work for January, 6hr x 4 Sundays x $40)

—————

$4074.00 (Total Liquid Assets for January)

-138.00 (Storage Spot)

-238.99 (Phones)


Other Back Payments:

- 180 x 2 - Hazel’s School (Laura needs to find out about this ASAP!)


3338.00 (After all monthly payments.)

- 838.00 (Money left to spend in January for food fun and whatever)


Aprox $2500.00 in the bank after January.


Currently Febuary Monthly In:

$1800.00 Joe’s EDD Until May 2015(3.75 Months left from 1/31)

$960.00 (Laura regular working 6 Hours on Sundays 24/hrs @ $40)

$640.00 (Due to Febuary Horse Shows Likely Laura working two additional Tuesday/Thursdays for 4/hours each day, 16hrs Total @ 40)


$3400 Total in for FEB.


Budget Line Items Deep Dive: Look at the actual budget Line Items.


—————

500 - Land Rent (Covered by Joe working 25 Hours)

Land being covered by 25 hours a week of work.

—————

138.00 - Storage Rental

Storage place for mostly my audio gear. Keep high on Radar as costs will likely increase next month, consider other storage options.

—————

100 - Propane

Currently propane is costing us about $150 - 200 dollars a month due to cold nights. Though $100 is a good yearly average.

—————

408 - CC Debt - Until 11/1/2015 and 11/1/2016

This amount is the amount needed to pay monthly in debt payments to be debt free by 11/1/2016

—————

170 - Back Tax Debt

This is Laura’s state back taxes and is automatically withdrawn, I can’t remember how long this goes for, Laura can you add?) Total due as of Jan. 26, 2015: $5116.63 (including 3%interest) Last scheduled payment Aug. 20, 2017. (if I have a refund it will go towards this debt and change the final payment date)

—————

300 - BC Land

Payments on a $25,000 loan from my parents. Paying $300 a month for 8.55 years Ending in December 2022.


$25,000.00 loan amortized over 8.55 years at 5.00%.

Monthly payment of $299.95. First payment Jul 2014.

Total interest paid $5,594.90. Total payments $30,594.90.

—————

238.99 - Phones

Phones are going to be expensive for the next 2 years but I believe they are worth every penny. We should be mindful to start buying used phones after our current ones get old. We should also consider getting replacements for our phones in the fall of 2016. (top secret replacement style)

—————


1300 - Food (Including Eating Out)

300 - Car Gas

180 - Hazel’s School

100 - Home Gas

100 - Animals

100 - Car Insurance

100 - Car Maintenance

50 - Gymnastics

20 - Garbage

50 - Hazel’s General Needs

100 - Kai’s Needs (Diapering Costs $78/month)


Current burn not including health insurance:

3754.99

————————————



Summary 12/4/2014:

   At the current burn rate without any changes we will be out of money by May 2015. We need to seriously consider how we will be moving forward with 

healthcare in the next 2 months as the current Cobra payments push the budget well over $5000.00 which is not sustainable with our long term goals and income.


We need to see how much money is realistic for Laura to bring in monthly as it’s likely the quickest place we can make a dent in the overall budget. Laura should shoot to making her monthly income closer to $2000 - $2400.


Joe should immediately start developing how to make additional revenue to shoot to be making $2000 (post-taxes) a month by March of 2015.


One of the things regularly hurting our budget is our outstanding Credit Card and Tax debts that total 578.00 monthly. As long as we stay with the current budget these bills will be paid off by November 2016. Taking this 578.00 off the top of our regular budget will give us a generous budget of $3500.00 helping us to stress less about work.


Laura should definitely bring a good case to Laura in regards to having her cell phone bill paid for, we should expect her business to pay at least $70 of her phone bill.


We should shoot to have my recording gear out of the storage place before the rent increase at 6 months. As the building of the barn may be a ways off it would be prudent to continue to look for alternate places to store the gear with little to no cost. (Maybe even considering the cost of a shed on Josh’s property)


None of the bills take into account the spending I plan to make on the solar setup. I believe spending $800.00 on the solar and off-grid charging solution

we can likely decrease of need for gasoline by the same amount within 12 months.


If Joe is serious about trying to make money as a creative he should start developing his transparent self online doing YouTube videos weekly documenting the vision of his creativity and the ShareMoon platform.


Current Money in the Bank 12/4/2014:


6636.65




Current Money in the Bank: $9000.00

Monthly Income: 1390.00 - Laura’s work after taxes. (How much will this increase with teaching change?)

1800.00 - Joe’s Unemployment (Available until May 2015 - $11,700 to be dispersed)

3190.00 - Current Monthly Income until May 2015 if no changes happen.

3190.00 (Monthly Income) x 6 (Month Unemployment is available) + 9000.00 (Current liquid asset) / $5500.00 (Current burn rate) = 5.11 Months = 6.7 Months Without Cobra)

11/18/2014 - Budget - The facts of life. 1558 - Cobra 1300 - Food (Including Eating Out) 500 - Land Rent 408 - CC Debt 170 - Back Tax Debt 300 - BC Land 300 - Car Gas 138 - Storage Rental 200 - Phones 180 - Hazel’s School 100 - Propane 100 - Home Gas 100 - Animals 100 - Car Insurance 100 - Car Maintenance 50 - Gymnastics 20 - Garbage ? - Hazel’s General Needs ? - Kai’s Needs


Total: $4204 (Not including cobra)

Total: $5604 (Including cobra)


Debt Accounts: Laura’s Back Taxes: 36 Month Plan until? $170 / Monthly

Joe’s CC1 - Target to be paid off by 11/1/16 Bill Due on the 1st of Every Month 26% APR (Variable) $1200.00 - Balance 11/2014 Pay $75 Monthly (Actually paying $65 since monthly spotify charged on this account)

Balance Interest Rate Expected Monthly Payment Expected Payoff Time $1,200 26% $65 24 months Debt Repayment Chart

Principal: $1,211 Interest: $349

Joe’s CC2 - Target to be paid off by 11/1/15 Bill Due on the 7th of Every Month 17.49 APR (Variable) $464.00 - Balance 11/2014 Pay $43 Monthly

Balance Interest Rate Expected Monthly Payment Expected Payoff Time $464 18% $43 12 months Debt Repayment Chart

Principal: $470 Interest: $46

Laura’s CC - Target to be paid off by 11/1/16 Bill Due on the 17th of Every Month

19% APR 5729.08 - Balance 11/2014 $300 - Pay Monthly

Balance Interest Rate Expected Monthly Payment Expected Payoff Time $5,729 19% $289 24 months Debt Repayment Chart

Principal: $5,735 Interest: $1,201