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She said, We are a family of five who are trying to pay off a bunch of debt.
I almost said six-figure debt, but we are actually under six figures now.
Katie manages the familys budget and uses a zero-based approach, ensuring every dollar has a purpose.
Marc works full-time and is the sole provider for the household.
His $6,500 paychecks form the backbone of their monthly budget.
In this instant, their income totaled $13,350 from Marcs two paychecks.
Katie also budgets $350 in credit card rewards, which she plans to use for Christmas shopping.
Katie explained, For groceries, Im budgeting $1,250.
For eating out, were budgeting $200.
Subscriptions, including streaming services, total $132 monthly.
Debt repayment is a top priority.
A miscellaneous buffer of $100 is set aside for unexpected expenses.
Katie budgets $500 for their emergency fund each month.
She explained, For our emergency fund, Im budgeting $500.
After so much budgeting done, everything came up to $12,575, leaving the family with $775.
Budgeting Philosophy
Katies approach is rooted in flexibility and learning from past mistakes.
She uses a detailed spreadsheet to track every dollar and regularly tweaks her system to make it more efficient.
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