Inside the Racial Wealth Gap, an exploration of the causes, effects, and potential solutions of the racial wealth gap in the US (finalist, Drum Award, "Editorial Campaign of the Year," 2021).Women of Means, a series about women taking control of their finances.Her team at Insider has tackled projects including: Previously at Business Insider, she oversaw teams including Strategy, Careers, and Executive Life. She holds the Certified Financial Education Instructor (CFEI) certification issued by the National Financial Educators Council. Libby Kane, CFEI, is the Executive Editor for Personal Finance Insider, Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money Insider readers already know and love. This article has been updated to clarify that the Greutmans' budget varies throughout the year, and that because they are self-employed, they are able to accommodate this variation. Anonymous submissions will be considered. Want to share your budget with the Business Insider community? Email. We want to be a voice for couples that don't know where to turn next." "I was crying all the time because we didn't have money to pay for life. "We're so transparent with our budget because we wish seven years ago that we had someone doing that for us," Lauren says. It's always the hardest thing to control." "I have to eat gluten and dairy-free, and it gets challenging to stay below $100. "I have some food allergies, so depending on what's on sale I could spend $100-$200 on what I can find that feeds us," Lauren explains. She finds that despite her skill with couponing, they're constantly adjusting their budget for food. The trickiest category, Lauren says, is grocery spending. We were getting one to two tickets a month, so we budget $60 a month for parking tickets." Parking tickets fall under the "transportation" category. "We live in a small city and it's alternate parking, so if we forget to move the car, we're ticketed at 8 on the dot. "Another budget category, which might sound silly, is parking tickets," Lauren continues. There's also about $500 each month in donations, which is largely the almost 10% of their budget that the Greutmans tithe to their church. Or if a kid gets a last-minute field trip announcement, it's kind of a mini emergency fund, so when we have an issue come up we don't have to scramble." "If Mark wants to grab a cup of coffee, he takes money out of the envelope. Other noteworthy expenses include a category that the Greutmans call "miscellaneous," which allots a certain amount of cash (actual cash, in an envelope) each week. We consider it an investment, and it falls under 'other expenses.'" Since both parents now work at home, though, childcare costs are limited to babysitters for their weekly date night and bible study night. "We pay $740 a month for school for two of them in elementary school and one in preschool. "We really stretched to send our kids to a private school," she continues. Account icon An icon in the shape of a person's head and shoulders.
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