The "B" word!

Yep, the "B" word! Budget! Okay, let's say I'm ready for life on the open road. I've got my CDL A with all the necessary endorsements. I paid for my school out of my own pocket. I was hired straight out of school by a really great company. I've finished the company provided training. I've been assigned my very own company truck. Everything's a go! My wife has a good job, I have 2 school age kids, 2 dogs and a cat. Here are my monthly expenses:
(This is admittedly a tongue-in-cheek look at a fictitious scenario, but I think it's worth a look....particularly by the younger folks that have families looking to them for financial support)

Rent/mortgage: $750.00
Car payment:** $350.00 ("Stranger" said I needed a newer car)
Car insurance: $100.00 (I'm under 25, so it's a lot)
Gas for the car: $100.00 (maybe more, the wife has to get back and forth to work, kids have to be dropped at day care/school, shopping, church, visits to gparents house, etc)
Utilities: $150.00 Electric
** $ 125.00 Gas ("Stranger" said I needed to bump this up a little)
$ 50.00 Water/Sewer
Credit cards: $150.00 (not too bad)
Health Ins: $150.00 (my company has a great plan, so it's cheap)
Car maint.: $ 50.00 (I do most of the preventive stuff myself)
Cable/internet: $100.00
Cell phones (2): $ 75.00 (unlimited long distance and text)
Dr bills: $ 75.00 (kids get sick from time to time, gotta meet the deductible too)
Dog/cat food: $ 25.00 (they're small animals)
Vet bills: $ 50.00 (they're small animals, but they do get sick)
Newspaper: $ 15.00 (the wife loves it)
Kids school lunches: $ 45.00
Clothes (kids): $ 25.00 (they are little kids, their clothes are cheap)
Kids "night out": $100.00 (4 nights per month, $25.00 per night, that's plenty)
Christmas: $ 50.00 (that's only $600 per Christmas, but it should be enough, the kids are little, they don't expect much)
Birthdays: $ 15.00 (that's $180 per year, 2 birthdays, $90 per kid)
*Groceries: $500.00 (pretty cheap eatin', don't you think, $125/week)
**OTR costs: $400.00 (I can live on $100 per week out there)
Alright, that's $2400 per month times 12 months=$28,800 per year. Should be noooooo problem! Ooops, wait a minute, I forgot taxes (FICA, State, Federal, etc). Maybe 20%. So I'll need $28,800/.80=$36,000 per year. Now, like I said, the wife has a good job ($10/hr) so she grosses $20,800 per year. $36,000 - $20,800=$15,200 (hey, that's all I need to gross, right?) If I have a so-so first year, say, 100,000 miles x .32/mile = $32,000. I got $16,800 left over!!!! Well, except for the tax on the extra $16,800, but that's only $3,360 so I've still got $13,440 left over. Unless, of course, I'm forgetting something (or maybe a few "somethings"). I don't want to leave ANYTHING out. Can you help me? Please look at my list and see if I forgot anything!

*Crash935 remembered that we all have to eat! So, now we have: $13,440 - 6,000 for the groceries leaves $7,440 left over! Still looking good, what else did I miss?

**"Stranger" said I forgot these things or hadn't figured enough for them. His suggestions for things to add to the budget come to about $550 per month or $6,600 per year. So now I have $7,440 - 6,600 = $840 per year to spend on anything my heart desires! I hope you guys are done!

 

Thanks Crash! You jumped right on that. Where's the grocery money? My point exactly!! I admitted up front the tongue and cheek nature of the thread opener. I guess I've got my nerve submitting a thread like that but as one of the older wannabes around here, I felt like maybe it would help if some of the younger wannabes really looked at where money goes. I have a 35 year old son who has been working as a trim carpenter for about 15 years. He's #### good at it and before things dried up economically, he made really good money. Problem is, he, like many other young folks doesn't really look at what it takes to make it....even in the best of times.
There are several, if not many, items left out of the budget in the post. Every one of the items omitted will slowly, but surely, eat away at what appeared to be a pretty good amount of money left over. Well, now that you've brought groceries into the picture, it's time to look at how much is left over now. Time for me to edit the budget!

 

Okay, I forgot a few little items. No problem....the recruiter said I'd probably make like $45,000. I'm not really counting on it though. Now I've gotta go back and subtract the items you mentioned. I'll be ok, I just know it! Let's see what my budget looks like now. Gotta go edit!

 

Yeah, but, but, but....the recruiters promised. Both of them. The one at my school and the one at the company!