I thank everyone for giving me insight to improve my life. I made a lot of changes in the little time I've been here. I'd like to see were I can make further cuts.
Income: $4740 a Month
to make it easy my budget it $2000, this is what I plan to receive after I retire from the Military. I will save $2800 a month until Nov 1st for retirement.
Budget:
$2000 a month (This is after retirement)
Expense:
Taxes & Insurance: $440 (House paid off, Taxes $333, House Ins $60, Car Ins $50)
Food $300
Gas for Vehicle: $100 (Just bought a car for the first time, doubled my MPG's)
Phone: $75 (Verizon, contract for the next 1.5 yrs) I will consider I different provider after.
Electric: $85 (I just unplugged everything that's not in use but I pay an average for the yr so it will take time to see if it lowers)
Heating (Nat Gas): $70 (I lowered the water temp by two notches but again I pay an average for the yr so it will take time to see if it lowers)
Water: $40
Net & Cable: $110 (After I retire I'll drop the cable to save $60 a month)
Travel fund: $100 a month
Emergency Fund: $150 a month
Fun Money: $530 (Normally only spend about $350)
Total: $1820 (W/$180 left over)
I have about $23K to invest, just waiting for a drop and should have about $40K once I retire. In the past 4 months of tracking I haven't had to dip into my travel or emergency funds. Plus, I'm building award points on my credit cards that I pay off each month (so far $260 worth). In the next year I plan to sell a lot of stuff and the house to save on taxes and utilities. I don't know if I will buy a smaller house (use the extra money to invest...$30Kish) or rent (use most of the money to invest...$170Kish) or buy truck/RV (use the extra money to invest...$140Kish). Any tips where I could cut next or words of wisdom??