I'm typing this from the lush and beautiful Ecuadorian Chautauqua! All this travel has been throwing my schedule of but better late than never I guess… I can't wait to share everything I've learned this week with you! Beun dia!
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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.
September was another crazy month. Long story short, my cat went missing and I spent the vast majority of the second half of the month trying to get him back. I'm over the moon I eventually succeeded! If you noticed a weird gap of no posts here on the blog, that would be why.
I also traveled for work in September which is unusual and awesome. I am not a seasoned business traveler by any means so it was a new adjustment for me. Juggling all of my responsibilities did not go so well but you live and you learn.
I still managed to spend a fair amount of money this month between working on the house (still/never ending) and prepping for upcoming travel in October.
Check out below for my total spending in September!
|Mortgage||Not including principle, which is accounted elsewhere on my spreadsheet. Actual payment is $705.43 a month!|
|Utilities||Standard electric and gas bill for my unit and the house.|
|Food||I came way under budget!!! Mostly due to being gone on business the last week 🙂|
|Phone||Higher than my normal Project FI bill due to my home internet being out for a week.|
|Auto||Gas, new tail light, and new spark plugs.|
|Internet||The new normal internet bill.|
|Insurance||Health insurance is paid directly from my paycheck.|
|Pet||With him gone for two weeks I didn't need food or litter 🙁|
|Support||Monthly support for my sister.|
|Blog||Fees are a bit higher this month due to bumping my service to a new level.|
|Shopping||Lots of misc stuff and I mean a lot. New security system for the house and more!|
|Entertainment||I went to see a movie (Kingsmen 2 was dope!).|
|Travel||Second and last deposit for my FinCon AirBnB|
|Gifts||A friend of mine got married!|
|House||Payment for more stuff done on the house, locks, and about a hundred other little stupid things I needed to do.|
My spending was a bit higher than usual this month with non-house spending coming in at $4121. That's definitely higher than I like but it was on worthwhile stuff (and some of it I will get reimbursed for!). Housing costs were “low” this month at $1560. I am really looking forward to these costs mellowing out. It can happen annnyyy day now. My total savings rate for September came in at 21% which isn't too shabby considering all the expenses.
Rental income: $600
No money coming in from the vacant unit. Sad panda continues.
Roth IRA: ——
Total savings: $2,392.06
Still haven't set this up. I'm really slacking.
According to the Lab over on Mad Fientist’s site, my FI date is now exactly 7 years away, which means I’m at September 2024!
My total net worth shot up this month to $176,328! My 401k is really starting to pick up steam in this favorable market, of which I am a huge fan!
Thanks for reading! What did your month look like? Did you stick to your budget?
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