Month In Review - July 2017

Disclaimer - It must be noted that I like analyzing data and trends. So the observations I am making, are just that. They are not be interpreted as complaints. I am very grateful to the powers that be for all the good fortune we have been bestowed in life. 

July has been a relatively expensive month. Even though we stayed under $1000, we definitely indulged in a few things. 

Food spending accounted for $272.40, which is definitely on the high side. $77 of that was spent on two meals (each), which were worth the money. One of those meals was a chicken fried steak. I haven't had one in a very long time, and I thoroughly enjoyed it. 

Chicken fried steak

We spent some money on computer peripherals, and electronics.

I purchased a mechanical keyboard, and it feels excellent. I cannot imagine going back to a membrane keyboard. Considering how much I type each day, I did not mind spending a little bit of money on a keyboard. I have a feeling I am not going to need one for several years. The membrane keyboard was purchased in 2013, and its still working. I expect the new mechanical keyboard to last at least just as long.

This being summer, utility bills  are going to be on the higher end. The bills I paid in July are for the month of June. Bills for the month of July (which will be shown in spending for August) are significantly higher, but I expect this number to go down.

Spending for the month of July 2017

On the investment front, a total of $15,747.84 was invested in various account throughout the month of July. This included contributions to 401k account, taxable account and dividend reinvestment. 

Our net worth grew by 4.996% to $128,532.13. Cash holdings accounted for 35.879% and the rest is investments. We are very close to reaching $100,000 in investments. This would be an exciting milestone for us.

Net worth for July 2017

Goal for the month of August would be to keep things under control, and spend less than $700 for the month. Our spending so far is at $411.91, which leaves us $288.09 for the rest of the month...its going to be challenging.

Month In Review - June 2017

Disclaimer - It must be noted that I like analyzing data and trends. So the observations I am making, are just that. They are not be interpreted as complaints. I am very grateful to the powers that be for all the good fortune we have been bestowed in life. 

We were on course to to spending less than May 2017, which was an amazing month for us, but it wasn’t to be. I ended up switching auto insurance from GIECO to State Farm, and I made a payment of $221.65.

I switched from GIECO to State Farm because GICEO kept rising up the prices steadily over the years, and State Farm was offering better coverage, roadside assistance and lower premium.

Our overall expenditure for the month of June is $859.85.

Without the insurance payment, we would have spent a total of $638.20, which is $52.6 less than the month of May.

Overall spending in June 2017

Another interesting thing to note, our food spending (groceries and eating out combined) of $284.51 was the highest in the last 18 months. I did not go check the spending for 2015, but I am willing to bet I did not spend as much in any given month in 2015. I am not particularly concerned about this, but as always, I am going to continue to look for ways to minimize waste.

I am going to predict that the month of July is going to be a little bit more expensive. We might even go beyond our ideal target of staying under $1000 per month because we have some plans for the weekend of July 15th. I will also be buying some games and maybe a mechanical keyboard. I am not decided on the keyboard yet.

Month In Review - May 2017

We started the month of May with the intention of doing better than we did in April which was a fantastic month with $790 expenses. We knew it was going to be difficult to live within $790 especially because we were going to visit family in a different state. 

With the baseline of monthly expenditure being $1000, we decided to contribute the difference towards a vacation fund. So far in two months, we contributed $518.64 towards this fund. 

Our expenditure for the month of May is $690.80

We managed to spend $99.77 than the previous month. We consider this a huge win for us because we were able to reduce waste very aggressively without compromising on fun or quality of life.

Expenses for the month of May 2017

For the month of June, I intend to reduce eating out, because we are planning for some fancy dining next month.

Spending in 2017 thus far -

Month in Review - April 2017

We began this month with the goal of spending less $1000 for all expenses. We are fortunate enough to have a paid off house, therefore we felt that this was something we could accomplish. I didn't have any big expenses that I could foresee for April. I paid off the tax dues last month, so the only spending categories we had to care about this month were regular expenses. 

Keeping track of expenses, and consciously avoiding spending mistakes allowed us to stay under budget. It wasn’t as difficult as I thought it would be, it just required some vigilance on our part to ensure that easy mistakes wouldn't be made. 

Summary of spending in April

Spending per category in April 2017

For the month of May, I intend to maintain the same budget, and spend less than $1000. I need to do a better job at managing groceries and eating out expenses. We did a great job until the 28th of this month. On the 28th, we went out to eat at a sit down restaurant, and that cost us $32 (I am generous when it comes to leaving tips). We definitely enjoyed the experience, but felt that getting take out would have been more fun, and would cost us less. 

Spending in 2017 thus far

Spending in 2017

The huge spike in spending for January 2017 is because we paid off our mortgage, and March was an expensive month because taxes were due.