My husband & my $12,200 joint budget

@hannahkoumakis

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Why it worked

The video likely resonated with viewers by providing a transparent and detailed look into a couple's real-life budgeting, offering relatable financial discussions and practical insights into managing household expenses.

Summary

The creator details her and her husband's $12,200 monthly joint budget, breaking down expenses like mortgage, utilities, food, and savings accounts. She explains adjustments made to their budget, particularly in fun money and long-term savings, due to purchasing a house.

Structure

1Introduction of joint budget and income
2Explanation of mortgage and interest costs
3Breakdown of utilities, rates, and insurance
4Discussion of food budget and adjustments
5Allocation for fun money and shopping
6Details on blessing, emergency, holiday, and savings accounts

On-screen text

My husband & my $12,200 joint budget $12,200 joint income $6,100 each $6,100 each this has meant that i have needed to hustle and work out extra jobs I am self employed which means I've just needed to pay myself slightly more but I've also needed to actually earn more to pay myself more so it has been an absolute grind but let's sort-off that $12,200 and actually go into the actual cost behind it now our monthly mortgage and Interest is a whopping $6,800 that is eye watering our utilities and compromises of two different payments we've got our variable and then also kind of our fix which is our rates and our insurance what I've done is I've calculated our rates and insurance as an annual amount and I've divided it by 12 that comes to $300 so I need to make sure I'm putting aside $300 so that when our annual rates and insurance is due we've got that money sitting there our variable utilities like power, gas water is $440 per month for our food for Our first month of our budget we actually assigned $600 but we found that we only spent 450 so I'm now gonna decrease that to around 500 and live off a budget of 500 which I feel like is is definitely manageable we also have fun money now fun money is also our shopping account but it also incorporates if you wanna go out to McDonald's and get something it's non judgemental money so we both have an equal $300 we both didn't spend any of it like literally none of it last month so I'm wondering if it's potentially too high so what I'm gonna do is probably decrease it to 200 and then probably put more of that money towards a mortgage um our entertainment account if you wouldn't spend a single cent which we need to we really do need to go on some dates uh we put aside $200 every single month our other account that has $200 we didn't actually spend any money from it but it is really good to actually accumulate that amount our blessing account blessing is something that I have personally love doing it is an account for buying other people coffee buying people flowers etcetera blessing people it's also for like presents so someone's birthday comes up you can use that account that account gets a hundred dollars every single month we also have we also have my husband's medical insurance which is $170. I should be looking at getting it uh, but maybe in the future. It is very expensive. We also have tide which is $1,200. That is 10% of our like gross income. I actually think that figure is wrong. Coming down into our emergency account, we have $500 going into that account every single month. We also have a holiday account which gets $250. It's definitely not enough. Our short term savings gets two hundred dollars every single month. Our long term is 500 but bear in mind long term savings was initially for a house. Now that we have our house, that's why we've kinda decreased it massively because we don't really need that money because majority of that money should be going towards our mortgage. My piano account isn't really getting much love. It gets $100 every single month. But that ladies and gentlemen is how my budget looks.

Original caption

Our joint bank account budget with myself and my husband #Budgeting #budgetingnz #moneytok #fypnz

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Transcript

My husband & my $12,200 joint budget My husband and I have a joint bank account and as soon as we got married we sat down and we did a budget for our monthly expenses and I'm gonna run you through what our current budget looks like $12,200 joint income We are currently budgeting $12,200 every single month which is $6,100 each $6,100 each now if you guys have been followers for a while you would know that this is increased from my side my contribution by about $2,000 per month this has meant that I have needed to hustle and work out extra jobs I am self employed which means I've just needed to pay myself slightly more but I've also needed to actually earn more to pay myself more so it has been an absolute grind but let's sort-off that $12,200 and actually go into the actual cost behind it now our monthly mortgage and Interest is a whopping $6,800 that is eye watering our utilities and compromises of two different payments we've got our variable and then also kind of our fix which is our rates and our insurance what I've done is I've calculated our rates and insurance as an annual amount and I've divided it by 12 that comes to $300 so I need to make sure I'm putting aside $300 so that when our annual rates and insurance is due we've got that money sitting there our variable utilities like power, gas water is $440 per month for our food for Our first month of our budget we actually assigned $600 but we found that we only spent 450 so I'm now gonna decrease that to around 500 and live off a budget of 500 which I feel like is is definitely manageable we also have fun money now fun money is also our shopping account but it also incorporates if you wanna go out to McDonald's and get something it's non judgemental money so we both have an equal $300 we both didn't spend any of it like literally none of it last month so I'm wondering if it's potentially too high so what I'm gonna do is probably decrease it to 200 and then probably put more of that money towards a mortgage um our entertainment account if you wouldn't spend a single cent which we need to we really do need to go on some dates uh we put aside $200 every single month our other account that has $200 we didn't actually spend any money from it but it is really good to actually accumulate that amount our blessing account blessing is something that I have personally love doing it is an account for buying other people coffee buying people flowers etcetera blessing people it's also for like presents so someone's birthday comes up you can use that account that account gets a hundred dollars every single month we also have we also have my husband's medical insurance which is $170. I should be looking at getting it uh, but maybe in the future. It is very expensive. We also have tide which is $1,200. That is 10% of our like gross income. I actually think that figure is wrong. Coming down into our emergency account, we have $500 going into that account every single month. We also have a holiday account which gets $250. It's definitely not enough. Our short term savings gets two hundred dollars every single month. Our long term is 500 but bear in mind long term savings was initially for a house. Now that we have our house, that's why we've kinda decreased it massively because we don't really need that money because majority of that money should be going towards our mortgage. My piano account isn't really getting much love. It gets $100 every single month. But that ladies and gentlemen is how my budget looks.