Spending vs. Inflation

Standard

I am so excited today. Friday yay!!! Also, I just notice my salary has increased 2%, probably as an adjustment to inflation going on. 5 yrs ago, inflation hit my hometown, now it is going to the States. The gas price goes up, the commodities’ price goes up, but people’s salary is not going up at that pace. Dollar value is going down, I wonder what will happen in the next 5 yrs for the U.S.’s economy. To deal with inflation, I think I need to eat out less, and only buy what is on sale or really necessary. Speaking about spending, as promise, here is my monthly spending and savings:

Income X Car Insurance (Twice a year) $564
Student loans 911.51 Car Maintenance Savings
Electric (Average) 14.04
Gas (Average) 21.89
Internet 31.41
T-mobile (Average) 89.43
Rent 350
Savings 5000
Allowance 650
Food 200
Gas for car, misc 450

I can only say my gross is in the range 100-150k, after deduction, my taxable income is still 100k+. After tax, I think it is 90k+. My income is double this year because I only worked half-year last year (I just graduated last year ^.^). So my net income minus my monthly payment for student loans, rent, utility, internet, cell phone (my current plan is family plan which covers my parents and mine), $5000 to put in savings will be my monthly allowance which is $650. It is a pretty decent amount for a single female who lives in rural area with low cost of living. I set my budget for food at $200 including grocery and eat-out. The rest $450 will be for me to spend for gas, flight tickets to see my boyfriend who is 12 hours driving away :(, and miscellaneous events such as shopping clothes, household goods, etc. Sometimes my spending is less, and I can have extra to use for days I am in Vegas or California. I pay my car insurance twice yearly and it is for 2 cars. Car maintenance will be oil changes, tire changes, etc. Budget for those will be from savings.

So that is my post for the day and I hope you will start a monthly budget like me soon. Have a wonderful weekend, hasta la vista!

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