Okay, it’s not really an ode, but one thing that makes budgeting challenging for us is that my husband was hired to work 30 hours per week but nearly always works more than that. Sometimes it’s 32 hours one week and 38 the next, but the only thing that’s guaranteed is that it won’t be consistent from one week (or pay period) to the next. And some weeks, he even gets overtime. I love that overtime pay!
This means that our budget looks kind of funny at the beginning of the month, like this*:
Her income: $2000
His income: $1000 (???)
A day before his paycheck is deposited, the total amount is updated on his employer’s system (Pay Entry — love it!) and then I go and update the budget, like this:
His income $1000 (1st paycheck: $556.34)
Then, after he’s been paid for the month, I adjust and put that money into the budget lines where we want it. Right now, any ‘extra’ money that we get that isn’t in the budget goes to one of two places: toward our debt, or into emergency savings or retirement. Because we aren’t counting on those dollars, it’s nice to adjust the budget up nearly every month.
Another story is estimating our taxes… will report on that come W-2 season.
*not our actual income