Monthly Spending Report: June 2016

Why do I do a monthly status report?

I find it best to do a monthly status report for a few rea­sons.

  • It helps me eval­u­ate how I did the pre­vi­ous month. Did I hit a tar­get reduc­tion in spend­ing or did I go way over bud­get for a par­tic­u­lar cat­e­gory? Did I earn more? What was my overall savings rate?
  • It helps keep me account­able. How can I make an extra pur­chase know­ing I’ll have to explain myself to all of you? Talk about awk­ward when the blog­ger can’t walk the walk and talk the talk.
  • I want to prove this crazy thing called finan­cial inde­pen­dence works!
  • It pro­vides an exam­ple of real world bud­get­ing and expenses. Some of the peo­ple I talk to haven’t ever seen a proper bud­get or seen one put into action, and part of the pur­pose of this blog is to lead by example!

I use Mint to help me track my spend­ing and keep an eye on my accounts. I also use a really awesome and super in-depth spreadsheet. So many formulas….. Some peo­ple use Per­sonal Cap­i­tal and oth­ers use You Need a Bud­get (YNAB). What­ever tool (or combination thereof) works best for you and your needs is the best one for you, since every­one and their bud­gets are different.


Wow! June was a crazy month! I started out the month in Seattle at Camp Mustache (always a blast!), and also traveled to Minneapolis and back to my parent’s house for Father’s Day weekend. Despite all my travel (or maybe because of all the travel), my expenses were actually quite reasonable minus two glaring exceptions.

I got the Chase Sapphire Preferred credit card in June and needed to hit the minimum spend, which I couldn’t do naturally. So, I prepaid my rent for the next couple of months to get the 50k bonus points. While that’s great and all, I had to pay off the rent and my normal expenses, which put quite the dent in my cash cushion and net worth.

The other exception is all the spending I did to get my side hustle up and running. Without going into too much detail, it’s a very hands-on, crafty side hustle, so there were lots of things to buy for it. Fortunately, I’m too cheap to go buy all the supplies from the store (both big box retailers and the small speciality store), so I saved quite a bit of money by getting a lot of stuff from Craigslist. Sure, some of my supplies and tools are dusty, dirty, smell like they’ve been in a garage for 10 years, and are used…….. but I’ve gotten easily $1000 worth of stuff sitting in my workshop for roughly half the cost. I can clean a few tools and oil some stuff for that kind of deal!

Other than that I did a 25 mile bike ride for MS one weekend and had a blast despite the 30 mph headwind on the last half of the ride. I’m pretty pleased I was able to enjoy a day with friends out in the sunshine (although we could’ve used a bit less sunshine on a day that felt like 96 degrees), and only spent $90 that went to a cause I hold near and dear to my heart since my dad has MS. Friends, fresh air, and a chance to help cure a debilitating neurological disease…… what could be better?

But I’ve segued far enough from the numbers. With­out fur­ther ado, I present my spend­ing (for bet­ter or for worse) for June 2016.


Rent Stilllll paying rent.
Utilities Last month of low utilities for awhile. It’s been scorching here, so the AC has been on almost all the time.
Phone So low. I love Project FI!
Auto Lots of driving, and parking, and public transportation. Ugh.
Internet Same price as always.
Insurance Health insurance is paid directly from my paycheck, and the others are an average from my 6 month payment.
Pet Food, litter, and a new stockpile of litter box liners.
Support Monthly allotment to my sister(s).
Misc Swim time with my niece, gym time with my sister and other sundry activities.
Travel One plane ticket only this month 🙂
Shopping Updated my summer wardrobe a bit.
Fees I had to stop by a different ATM out of network.
Gifts My mom and I are going to see a Cardinals game for her Mother’s Day present 🙂


All told, my spending totaled $2733 for June. I love seeing my savings rate go up from month to month. My total savings rate for the month was 45.58%, which is almost exactly equal the average rate for the year. I’m very pleased with June’s savings rate, and I hope to beat that in July. I’m going to be doing a little spend month this month. My goal is to have a savings rate over 60%. Wish me luck!


Gross: $5,213.05

Adjusted: $2969.19

Taxes: $1,180.32

An incredibly average month of income. Hopefully this will go up for July as I start to ramp up my side hustle.


401k: $2,091.60

Roth IRA: $450

HSA: $100.00

Total savings: $2,641.60

A very normal month for savings.

As of 1 July, my net worth sits at $96,551.81. Woah, hey, that seems weird. Why did your net worth go down this month? I mean, I know #Brexit was hard on the market but…. that seems extreme. Wellllll……….. that is because most of the drop went to my rent prepayment. I should bounce back to equilibrium soon. I’ll hit $100k before I know it!

According to the Lab over on Mad Fientist’s site, my FI date is now 9 years and 11 months away. I added four months to my timeline this month which is no beuno. I’d be interested to see how fast it bounces back when I don’t have to pay rent for the next few months.

Side Hustle

Spending: $600

This is alllllllll the supplies I bought, the furniture, and rent for the workshop. It gets pricey fast, but I’m hoping to recoup a good chunk of it the next few months.

Thanks for reading! What did your month look like? Did you stick to your budget?

12 thoughts on “Monthly Spending Report: June 2016

  1. I’m excited to read about your side hustle!! I just made a short list of five ideas that I want to start and hope to get going on one of them this weekend. One requires some start-up costs in that I need to purchase some photography equipment (and learn how to use it – ha!). Great idea to find stuff on Craigslist. Good luck!

    • I got so lucky! Now I have a ton of little stuff that only comes from doing it a long time. Score!

      Photography is something I’ve tossed around doing as well, but I always balk at the higher start up costs. I’m sure you’ll do great at whatever side hustle you choose!

  2. Hi Gwen, I just stumbled on your blog. I’m also shooting for 2025 also (which would be age 40 for me), but who knows. I wasn’t aware of the Mad Fientist Lab, so thank you for mentioning that…I am even a subscriber to his newsletter! I’ve been using the Google Doc from Power of Thrift since late last year, which seems to be calculating all of the same data, but showing you saving rate percentages and such, but lacking the fun countdown clock….thankfully that spreadsheet had all this data, so it was easy enough to copy it to the lab.

    I had what seemed like an unusual income boost in June, thanks to quarterly dividends from my index funds, and some bonuses from transferring investments, opening bank accounts, etc.

    I love how the Lab just averages out your previous year of actual spending, so you don’t have to figure out some number out of thin air that you will need to spend in FIRE. According to the Lab countdown, I am 8 year and 5 months away, though I expect to take a gap year to do extended travel, or live abroad, or even switch careers entirely, well before I reach that point, so who really knows… 🙂

    • Sounds like you’re right on track! I love the Lab. Super helpful! I love seeing the target date go down by more than one month…. and hate seeing it go up at all!

  3. I’m thinking about getting that Chase Sapphire Preferred credit card myself. I’m thinking I could really reduce our vacation expenses for next year if I plan ahead and strategically use credit card bonus points to get our airfare and hotels cheaper.

    Nice work with your saving!

  4. Great progress. Keep it up! I would show you my food budget but then I would have to hang my head in shame.

  5. I beat you on mortgage, but you shame me on food by 2x at least. Btw, what’s your side hustle? I’m super interested in finding out, I love finding new and interesting ways of making money on the side.

  6. Thanks for the update.

    I especially like hearing about starting a side hustle. This is one of the best moves anyone can make and I wish I had started earlier. Not only does a side hustle bring in extra money, it may even lead to something bigger down the road. But even if it doesn’t, having another area to focus on besides your day job can help you better appreciate the income from your day job.

    • Don’t go out too often, make as many of your meals from scratch at home, and bring your lunch to work!

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