Wednesday, August 17, 2016

July 2016 Income & Expenses


The amounts below are cash amounts and are net of taxes, insurance, 401k contributions, HSA, etc. In other words, the amounts are what get deposited and withdrawn from my accounts.

Day job (take home pay) --- $11028.94
Dividends/Interest --- 0

Total net income --- $11028.94

Expenses --- $5298 (Taken from Mint)

Savings  $ --- Rate  $51.96%


There we go!! I finally got back over the 50% savings rate threshold. While my expenses were still fairly high, I finally broke the 2 month $7000 a month streak. That's a bad streak to be stuck on. I can live with $5,000 a month and still having a strong savings rate

I was glancing over the expenses and really didn't see much in the way of outliers.  During the previous two months I had a couple of big vacations including prepaying for a trip to Disney World. It appears that I had a lot of $75 to $150 expenses which included several dinners out throughout the month and a couple of doctors visits. Also the utilities were a bit higher as the Houston weather really heated up. Also my girlfriend's daughter has been staying with us during the summer so that probably is good for and extra $500 to $700 a month. 

Higher expenses are not freaking me out as much as they used to. Extreme expense control used to be something I really really really tried to get under control. I think that I am probably spending more money mainly because I have sacrificed so much over the past couple of decades that I am giving myself some treats. Don't get me wrong if my income starts to plummet, I can easily eliminate all cable channels, expensive meals, and other frivolous luxuries. In the mean time, I am going to continue enjoying life responsibly and not live like a hermit. 

There is a big world out there and I want to see as much of it as possible!

DEFY MEDIOCRITY

13 comments:

  1. I've been trying to take a breather from my crazy budgeting mindset as well. Really coming to terms with the fact that what is the point of all this if I don't enjoy the road along the way?? The money will come, I enjoy my job, so why stress about the pennies in a budget?! It's harder to do than it looks, but it's definitely worth it.

    Congrats on a great month, as always.

    ReplyDelete
    Replies
    1. DS,

      It's a real struggle, but I am finally making (some) progress with it. I still find myself navigating towards sale items at the grocery store, turning off lights when people are still in the room, and other crazy shit like that.

      I am opening up the purse strings more when it comes to vacations and other life experiences. I will probably always be minimalistic when it comes to physical possessions, but traveling and fine dining are my weaknesses.

      MDP

      Delete
  2. Nice savings rate! And not only that, you must have a great job to receive 11k net a month. Good going!

    With a savings rate of 50% you can still save a great amount each month and enjoy life. So you are right, no reason to worry to much. As long as you enjoy what you are doing. :)

    ReplyDelete
    Replies
    1. P2P,

      The job is great, but business has been tough this year down in Houston. I just keep battling and enjoying life as much as possible.

      Thanks for stopping by!

      MDP

      Delete
  3. Any savings rate above 50% is fantastic! Thanks for sharing. I don't track expenses to the level of detail you seem to do. I admire your (and other blogger's) tenacity in doing so. That's a great way to retain control over you finances.

    ReplyDelete
    Replies
    1. FerdiS,

      If I don't track them all hell breaks loose. :-) In all seriousness, I just do it to make sure I'm not wasting money on stupid stuff! I have no problem with eating out and travelling. I just don't want a bunch of gadgets and other shit piling up unused in the garage.

      MDP

      Delete
  4. MDP,

    Getting back at a good savings rate, so you can keep the purchases coming and crush the dividend income higher. Here is to looking forward to September!

    -Lanny

    ReplyDelete
    Replies
    1. Lanny,

      It's been a crazy year and I feel like I am finally getting back into a good rhythm both personally and financially. I look forward to juicing up the dividend income in the coming months.

      MDP

      Delete
  5. Never depend on single income. Make investment to create a second source. See the link below for more info.

    #income
    www.ufgop.org

    ReplyDelete
  6. Nice job, over 50% savings rate is great! I hope you have a great trip to Disney :) Good luck for next month's saving.

    Tristan

    ReplyDelete
  7. Tristan,

    Thanks for the support! I can tell you right now next month's results won't be as pretty. That's ok. I made a yearly home insurance payment and semi annual car insurance payment. Those hit the budget pretty hard.

    MDP

    ReplyDelete
  8. Great take home pay! You need a lot of dividends to make up for that, when you give the full time job up.

    I am struggling to accept a smaller savings rate/amount now that I am FIREd'.

    ReplyDelete
    Replies
    1. NNL,

      Yeah my dividends are lagging behind my expenses big time. No worries though. Time and compounding will close the gap!

      The fact that you have a savings rate in retirement is a BIG win! Most have withdrawal rates. :-)

      Awesome stuff!

      MDP

      Delete