Our Family Budget

In December of 2010 Chris and I sat down to have a serious talk about our finances.  He decided (even though we were dating at the time) that I should start to look at where our money went each month and how much we were spending on everything.  I was extremely flattered that he wanted to share this information with me, but I was also worried because I am in no way what-so-ever good at math.  I was positive I'd screw it up and told him as much.  But, for some reason he put his faith in me wholeheartedly (I think it's because he has his "love goggles" on) and I've surprised us both with how well I've handled the whole thing.

The first thing we did was sit down and figure out what our "fixed expenses" were.  Fixed expenses are payments that are taken out of our account every month for roughly the same price.  Those expenses can include:

1.  Mortgage or Apartment payment

2.  Phone Bill

3.  Cable Bill

4.  Student Loan payment, etc.

The second thing Chris and I did was figure out what our "variable expenses" were.  Variable expenses are items that do not cost the same every month but are items that are still bought every month.  Those expenses can include:

1.  Gas for your cars

2.  Food

3.  Utilities, etc.

When Chris and I lived in Seattle for six months Boeing gave us an expense account.  We were given a certain amount of money a day for food, lodging, and gas.  We used their system to figure out how much we should be spending on our variable expenses and found that their system seems to work best for us.

Each day they gave Chris $5.00 a meal ($15 a day) for food.  Chris and I figured that $25 a day for the two of us was a good place to start when it came to food and that is the system we still use to this day.  Do we spend the $720 allotted for our groceries every month?  Not even close.  But, it's a system that works for us and I can't see changing it anytime soon!     

As you can see from the picture below Chris and I use three categories:

Deposits

Fixed Expenses, and 

Variable Expenses

I use Microsoft Excel to set up my report.  Here is an example of what my budget looks like.  All the numbers are made up because I feel that sharing how much money we make/have is a little too personal, but you'll get the general idea!

To find out how much money you have leftover use this formula:

DEPOSITS -FIXED - VARIABLE  = SPENDING MONEY LEFTOVER 

Chris and I use the leftover spending money to pay extra bills that come up (like property taxes for the cars) or fun things like funding our trips to Disney.  

Here is an example of a monthly report that we would use:

The next couple pictures will all be the same as the one above but I will explain the math behind all of it!

To calculate the Yearly Savings you subtract the Deposit, Fixed Expenses, and Variable Expenses totals.  If there is any money leftover at the end of the month, I roll it over and add it to the Yearly Savings of the next month (which, in this case, is October).

Calculating the Monthly Savings is exactly like calculating the Yearly Savings.

I always use the little red numbers beside my Variable Expenses.  Why?  Because it helps me keep track of how much money I have left to spend in that category.  I use the numbers I calculated from my Budget Report (see first photo) and subtract whatever I spent in that category.  Confusing?  Let me show you the formula:

We're going to use Gas for Car as the example:  $175-SUM(I9:I10)   

$175 is the amount of money we can spend on gas each month.  Then you take the sum of the two cells (which are I9 and I10 in this scenario) and subtract it from the $175.  As you can see in the picture below, we still have $75 left for gas for the month.

As I stated above, Chris and I usually have spending money leftover.  We use that to buy things we want or to pay off bills or trips.  That is where the Miscellaneous Category comes in!  I have a strict $200 limit that we must either meet or come in under each month.  You can make it more or less depending on what you want to spend it on, but we find that most of the time $200 is more than enough.  

If we spend our Miscellaneous money on clothes or crafts, I usually put it under the Variable Expenses for the month.  However, if we are planning a trip or have a bill that needs to be paid, I put it under Future Expenses (see box below).  Then, I take the amount and subtract it from the Yearly Savings.      

As you can see there is a lot of math involved.  But, once you set up the chart the way you want it all you have to do is start plugging in the numbers!  

I usually update my report every three or four days just so I make sure I am on track.  And sometimes, I have Chris double check me so I know that I am doing all the math right (it's great to have a super smart husband around!).  We also have online banking which is such a blessing when you're doing something like this.  And it's a great way to keep an up-to-date record of your expenses. 

You can find my version of the Expense Report on my Google Site.  Please feel free to download it and customize it to work for your family.

Does anyone else do an Expense Report?  What's the best way you keep track of your finances?

EDITORS NOTE:  I really should not do math late at night.  Originally I messed up the calculation for the Yearly Expenses.  I have now fixed it on this blog as well as the Report on my google site!  I'm sorry if there was any confusion!

Gown Preservation and Other Options

How many of you decided to preserve your gown after your wedding?  Did you ask for opinions before you did it?  Did any of your already married friends tell you where they went and what they had done?

Well, I asked a few of my friends where to go to clean my dress (most suggested a dry cleaner) because we got married in April and had a reception a little less than two months later.  But, I never thought to ask about getting my gown preserved.

Why?  Well, I figured David's Bridal has been preserving gowns for years and that meant I could trust them to do mine too.  Right?

Yes, I could!  But, what I didn't expect was for them to charge me out of my butt for other "little" things.

Included in the price of the kit was the standard preservation and free shipping.

What was not included was veil preservation ($15 extra), premier preservation (which includes gown insurance, lifetime guarantee, among other things - $50), and if you need to fix your dress due to rips or other minor things (these charges started at $15 and went up from there).

I have to say I was very disappointed by this whole process.  While I am excited to have my dress preserved so that I can keep it for when we have kids (I have a few plans for it if we have a girl!), I am not so excited that I had to pay that much for it.  Especially when you sit down and think of how much your dress was in the first place!

But, I guess I can't complain too much.  I made the choice to go with David's Bridal and also made the choice to get some of the extras done to my dress.  I just want other people to be aware of what they're paying for if they choose to go this route.  I would've found it helpful to know beforehand and I'm hoping someone else will find this helpful as well.

However, if you decide you don't want to keep your dress after your wedding (after doing research I found that a lot of brides feel this way) there are some great ways to get rid of it.  

Brides Against Breast Cancer is a wonderful organization that takes used bridal gowns and sells them at a much cheaper price to other brides.  You can find out more about the donating process here.  If you want to keep your gown but still help out this organization you can click on this link and give however much money you can.  A little can go a long way in making a brides dream day come true.

If the first option is not something you're interested in you can always give your gown to goodwill or try to sell it on the internet.  Also, if someone in your family likes a part of your gown (perhaps you wore lace) you can always let them incorporate pieces of your dress on theirs for their special day.  

Whether you want to keep your dress, donate it, or sell it there is definitely an option for everyone!  

   

Walt Disney World: Places to Stay

This post took a lot of research and a long time to write.  I had to wait for Chris to put in his opinions before I could publish it and we're both such perfectionists we read and re-read a hundred times before we felt it was good enough.  We're pretty happy with how it turned out and we hope that this will help people plan a memorable and less expensive trip for their family!

(Chris's comments are in blue and mine (Teresa's) are in purple)

If you've ever looked into a Disney Vacation you will know that hotels are expensive.  Sometimes, even their "value resorts" don't really seem like a value with the money they charge.  But if you know when to go and where to stay you can definitely get the biggest bang for your buck!  Let me give you some hints!

Getting Started:

1.  Start planning your vacation at least three months in advance.

If you are looking for time of year to go this can help as well. 

2.  Check this Disney website to find deals for your trip!  They usually put them on the site two to three months in advance!  And you'll want to jump on the deals...20-30% off of a hotel can mean huge savings for you and your family!  You can also find (sometimes) great dining deals too!  

3.  Start looking at airline deals right away!  If you live in VA (or anywhere south of there), you may find that driving down to Florida is cheaper (make sure you bring plenty of snacks and toys for the little ones!).  However, you may also find some really great deals on airfare if you start looking early enough.  And there are some airlines who will give you a credit if they drop their prices after you've booked!

4.  Disney always has promotions for a family of four.  Keep a lookout for that deal!  I've seen it on tv and heard it on the radio before.  The cheapest one that has ever caught my eye is $79 per person per day.

Why Stay on Disney Property?

1.  If you fly, Disney transports your bags from the airport to your hotel room free of charge!  They also have a free shuttle service (their Magic Your Way bus) that will take you directly from the airport to your resort (no rental car fees!).

These things are really the biggest discriminators when it comes to selecting your hotel when flying to Orlando. If you have to pay for a taxi or rent a car to get to your hotel you might find you might save money by staying at the park. There's no price value associated with the transport of your bags, it's really how much you value your time.

2.  By staying at a Disney Resort, you are also eligible for each parks Extra Magic Hours that either means the parks open early or stay open late. 

Chris and I love that Disney offers this because we always visit the Magic Kingdom during their nighttime Extra Magic Hours.  You don't have to deal with all the strollers, young kids, and crowds that they have during the day and you can go on all the rides you want with only (usually) a 10 minute (or less) wait time.  It's awesome.
This is another really hard thing to put a value on. During Summer/early Fall you can exhaust yourself pretty easy being out in the heat and this may not be worth it. You might also find it easy during these months to head back to the hotel to take a nap during peak heat hours.

3.  If you buy a souvenir early in the day, you can have the store send it back to your room.  It'll end up getting there two days later but you won't be carrying around a ton of shopping bags while trying to keep up with your kids!

I believe you can also have the bags sent to the front guest services area for later pickup. However, I believe this has to be done by a set time well before the park closes. I know most people will want to experience the park, then towards afternoon/evening they might go shopping, you will either have to wait until you are ready to leave or carry bags around for the rest of the day without this service.

4.  Disney offers shuttles to and from the parks all day long!  You don't have to worry about remembering where you parked your car at the end of the day and you also don't have to pay for parking at the parks!  All you do is hop on the bus and it'll take you wherever you want to go.

Again, this can save you money if you would otherwise have to rent a car or bring your own (and have to pay for parking everyday)

What Disney Resort is Right for You?

There are many different options for where to stay at Disney.  

There are the:

Deluxe Villas

Deluxe Resorts

Moderate Resorts

Value Resorts

Disney Campgrounds

Other Select Deluxe Resorts

Chris and I have stayed at a few different ones in each category.  They are:

Animal Kingdom Lodge - Deluxe Resort

Grand Floridian Resort and Spa - Deluxe Resort

Caribbean Beach - Moderate Resort

Pop Century - Value Resort

Contemporary - Deluxe Resort

We really liked staying at the Caribbean Beach because not only is the price somewhat reasonable but the rooms and nice and comfortable.  There are also private beaches with hammocks and chairs that you can sit at during the day, numerous pools in the vicinity, and one huge pool for the kids to play in (complete with water slides and other features!).  This resort is located near Epcot and Hollywood Studios.

The only "issue" I have with it is that it takes a while to get the the parks if you're taking the resort buses.  Since the resort is so big there are six different stops so if you're at one of the last stops before it heads out to the park, there may not be any room for you and you'll have to wait for the next bus (which can take a while).
I like this one the most. I tend to like rooms that are cold, icebox cold. Of all the resorts we've stayed at (Pop Century, Grand Floridian, Contemporary, Animal Kingdom) this was the only one that had air conditioning without a temperature setting with the lowest setting of 68.

Both the Grand Floridian and Contemporary Resorts are very expensive.  If you do not book a room at the Contemporary at least five months in advance they will not have a spot for you.  Both of these resorts are on the monorail system and are extremely close to the Magic Kingdom and Epcot Parks.    

I loved staying at both of these resorts and can not complain about either of them.  If you can swing it, stay on the club level because you'll get free breakfast, snacks, and (adult) drinks later on in the evening.  There is also water, juice, and coke drinks available all day and night.  It's a little more expensive but definitely worth it!
The club level is nice but the perks for staying there aren't typically worth the price unless you are staying for a unique occasion, we did for our engagement and wedding, but if you're looking to save money, the price of snacks and drinks is probably not worth the difference.

We did not like the Animal Kingdom at all.  We thought we'd be able to see different animals from our windows (what a disappointment!) and it was a very long bus ride from the resort to the parks.  This resort is close to the Animal Kingdom park but very far away from Magic Kingdom, Epcot, and Hollywood Studios.

If you're looking for something cheap the Pop Century isn't a bad option.  They have three pools on their lot and different sections of the hotel represent different eras (1950's - 1990's).  This resort is usually very crowded (it's the biggest resort on Disney Property) and that means you may or may not get a seat on the buses when traveling to the parks.  It also means you may have to wait through two or three buses until you can actually get a spot to go back to your hotel after the park closes.  This resort is located near Epcot and Hollywood Studios.        

There were a few things I did not like about this resort.  (1) It was overcrowded.  I hated having to wait so long to get on a bus to get back to the resort at the end of the night.  Especially when I was tired from being out all day and all I wanted to do was sleep.  (2) The beds and pillows were extremely uncomfortable!  I had a really hard time sleeping because everything was so hard.  (3) The beds were full/queen sized and it made it extremely hard to share a bed with Chris.  Maybe this wouldn't be a problem for anyone else but it was very uncomfortable for us.

Staying off Property

If you'd rather stay off property there are a few hotels that would work.  Some do have the park buses that will take you to and from the Disney Parks (free of charge).  These hotels are: 

Holiday Inn 

Double Tree Suites

Hilton

Buena Vista Suites

You can find more hotels at Marriot, Hilton, and other sources.  Just make sure they have complimentary shuttles to and from the parks!  Also, most of the above hotels are right beside Downtown Disney.  

There are downsides to staying at an off property hotel though.  (1) You pay daily for parking on their lot (you will not be charged for that with Disney).  (2) You have to get yourself to the hotel from the airport on your own which means you'll be paying daily for a rental car.  (3) It's a bit of a drive to the parks.  Be prepared to sit on the bus for a while!  (4) If you decide to stay at a hotel without shuttle service to and from the parks, you'll be paying to park your car at the park (which, I think, is about $12 a day).  (5) You'll be spending a small fortune between rental car costs and all the parking expenses from the parks and hotel.   

So there you go.  Chris and I compiled all our wisdom from the past three years on where to stay and this is what we came up with!  We hope that this information will help people who are trying to plan a trip to Disney but didn't know where to start.  

Stay tuned for more Disney posts! 

Meal Planning

How-To: Monthly Meal Planning Guide

For the past few months I've been using a homemade calendar to plan our meals for the month.  I usually go out and buy most of the ingredients (the ones I can freeze or are canned) and then go out every week and a half and buy the perishable items needed for my recipes.  This has worked out fairly well and it helps me keep a low grocery budget every month.  I go to Costco once a month and buy the bigger things that we'll need along with most of the meats I'll need.  When we get home, I'll divide up the meat (mostly ground beef) into ziploc bags consisting of either one or two pounds.  We also buy the big bags of Perdue chicken (my favorite)  and one bag can usually last us between 45 and 60 days.  

Most of our monthly grocery budget comes from my trips to Costco.  Since I buy in bulk I pay a little more, but the food I do buy lasts me a lot longer than going to the regular grocery store.  And it's nice to go to the grocery store and only have to buy a few things at a time.  I used to coupon (and sometimes I still do if I find a really great deal), but I found that I don't really save that much doing it.  Maybe it's because I go to Costco and buy in bulk or maybe it's just because I'm not that dedicated to couponing.  Whatever the reason, I've found that it's just not for me.  I can keep our monthly budget low without them and I'm happy with how little money I spend on food.

Below is our July Meal Planning Calender.  Most of these recipes are new to me (I'll let you know how they turn out) but I try to do at least a few new ones each month.  My husband is a bit of a picky eater so when I find a recipe he likes, I usually jump on it.  

All the recipes in green are cooked in the crock pot.  There are also recipes that have a red star next to them which means they are new to us.  I always run the recipes by Chris to make sure he'll actually eat them (this can get frustrating sometimes) but in the end we're both happy with what we'll be eating.  I also try to give us one or two days where we budget for eating out.  I know that at least one day this month we'll be going out with our friends.  I also have a lot of blank days during the week because we always have leftovers after I cook and we do not like to waste anything.  So...we usually eat something for two days before moving on to the next meal.  But if we don't have any leftovers, I just skip to the next recipe and continue from there.  We're pretty flexible.  

I'm going to leave you with a few of our favorite recipes.  Please visit this site to find them and feel free to use the recipes for your own family!  

UPDATE: You can only view the files if you have a google account.  If you don't have one, you can download it to your computer and view it that way!

Vacation on a Budget: Walt Disney World

When Chris and I were on our honeymoon we had an idea for the blog.  We've been to Disney World (and Land) at least once or twice a year since 2009.  Wouldn't it be fun if we did a mini series on the best times to go, what to do while you're there, and where to stay?

A lot of people think a trip to Disney World is an expensive luxury, and sometimes it can be.  But if you know the right times to go, when to look for deals, and where to stay you could end up saving hundreds of dollars!  And who doesn't like saving that kind of money?

So, stay tuned for future posts from Chris and I.  We can't wait to share all that we know with you!

At Hollywood studios with my family!