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 In other words, the amounts are what get deposited and withdrawn from my accounts.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) --- $9390
Dividends/Interest --- $0
Total net income --- $9390
Expenses --- $7158 (Taken from Mint)
Savings $2232 --- Rate $23.77%
This is my first income update in a quite some time. While am still making really good money, this year has been night and day vs the first half of last year. My day job take home pay is down about $4000 vs last year and my dividend income is down over $1000 as well. Overall I am down about $5000 from last April.
The drop in pay would have been more pronounced if most of my pay wasn't guaranteed. Last year the company I work for made over $300,000 in net income for April and this year it lost money. It's great that I have such a large percentage of my income guaranteed, but it is also a bit nerve racking making a lot of money while the company swings into a loss. Spotlights definitely start shining when you have a big base salary and the company is performing poorly. Still, things appear ok and it looks like May is picking up steam around here. Obviously falling energy prices continue to have a serious impact around Houston, but it looks like things are stabilizing a bit.
While income was down unfortunately expenses were a bit high this month. About $3500 of the expenses were because of a fantastic road trip I took that included stops in Charleston, SC, the Smoky Mountains, Gatlinburg, TN, and Nashville, TN. Those were some amazing stops and I had the time of my life!
May Outlook
I have really shut things down on the expense side so far this month. I hope to keep overall expenses below $3500. The only major expense so far has been a tax preparation fee of $825.
DEFY MEDIOCRITY
I hope your company gets back in positive territory. I am building up an emergency fund this year just in case something were to happen to my job. Anyways if you have good skills you will be able to find a another well paying job.
ReplyDeleteCheers,
DFG
DFG,
DeleteAbsolutely! I truly believe that the economy only gets better when I do. If you are an employee that truly adds value to your company, then there will always be great job opportunities.
Keep building that emergency fund!
MDP
Glad you're back posting again MDP. Stay positive and strong. Everything will work out like it always does. Keep hustling it up bud and can't wait to see what moves you make. Thanks for sharing.
ReplyDeleteDH,
DeleteEverything is good here and you can bet that I am always positive! The moves are coming soon. Very soon. :-)
MDP
Good job saving nearly 25% of your income even though your income was way down and you had an awesome road trip. Don't feel bad about that :)
ReplyDeleteGood luck for the next month.
Tristan
Tristan,
DeleteThe road trip along with other "real life" experiences is what will stay in my mind for years to come. The income and dividends are the means to create those experiences. Perspective is everything!
MDP