I already talked about our plan of annexing the unit next door to add more space to our teeny studio, and for that to happen, we need to come up with about Php300,000- Php400,000 to cover the downpayment to my brother (who owns the unit) and the renovation/ furnishing costs.
Our goal is to move in by Christmas next year, or to at least start construction by then, and I have decided to allot my equity funds as well as start a new savings account for this. The house renovation budget above only refers to what we should be stashing in our house account, adding to my equity funds on a monthly basis is another thing altogether.
I have also neglected our emergency funds, so this month, I will once again start building it up until it reaches 6 months worth of expenses.
For the expenses part of the budget, the figures pretty much represent our monthly expenses, except for our restaurant expenses which are kind of difficult to predict. However, I did allot an extra Php1,000 to electricity since we've been using our AC more this month and I also added the baby stuff and room renovation categories because we still need some more stuff for Bean's arrival (i.e. breastfeeding paraphernalia, cloth diapers etc.). Hopefully, the baby stuff expenses will be significantly lesser by next month.
Thank goodness that I'll be receiving my mid-year bonus and the educational assistance bonus in the next few weeks to cover all the extra expenses. Hooray for institutionalized bonuses!