Another month has passed and it is time again for my monthly Income/Expenses report. 


In these reports I highlight what income I made during the month, what sources all of the income came from, and where it all went, on the ‘expenses’-side; showing all purchases by category…every dollar! Ideally, when it all is calculated I achieve a high savings rate, and then I post that to my Savings Rate tab for month-by-month tracking of progress.


General thoughts on this month: This was another very good month for us, and I think we are now in a good routine after our move up to NY.  We’re making quality spending decisions (for the most part!), trying to maintain a high level of frugality, while still providing for our two kids and our hobbies, etc.  Unfortunately, we’re still in debt by over $15,000 thanks to our last real estate purchase, so unfortunately all surplus is not “felt” yet and actually goes towards paying down debt.  Soon though!  Without further adieu, here is what happened this month:

General Thoughts on INCOME:
1) Income continues to be pretty high due to our many sources of revenue.  Individually they are not that much (all under $5k), but added together, we have consistently been around $10k total per month.  I imagine income will fall slightly if I have to take out a loan against my TSP in order to pay for this last North Carolina (#2) property purchase. But we will see.  I really want to eliminate all interest-bearing debt that we currently have.

General Thoughts on EXPENSES:
1) Expenses were definitely kept in check this month, and though you may see “shopping” at $610 and think we are big spenders, let me detail that category a little bit:  $100 of it was one single item (a uniform item that I need for work), $260 was for a month-long diet program that my wife was starting, $100 was for a plaque I needed for my office, $70 was for nutritional items for me, and the rest were small miscellaneous items (cleaning supplies for the house, shampoo, etc). Again, mostly mandatory items and some ‘health’-related items, but nothing extravagant. Perhaps someday it will be a “fun” $600 worth of actual shopping! And perhaps I need to add an additional category to my budget that better clarifies shopping-type purchases that reoccur each month.  Maybe I will do that next month.

Well, I believe that is it for this August.  We thankfully hit over 30% again for our savings rate. This should help raise our annual average and move us closer towards achieving goal # 5. I’ve updated my Savings tab as well.  


Remember – it doesn’t matter how much you make; it is how much you keep!


Thanks for reading!

Dan