Sunday, December 3, 2017

Income & Spending Report.....November Update

* As Hubs retired effective July 1, I am no longer doing my 2017 Savings Challenge.
We ended that on June 30th.  The goal was $17.5K saved for the half of 2017 that Hubs was working.
We actually saved $21,100.42 all totaled, so $3600.42 over goal!

Now that we are living on an annuity and 401K$(no 401K$ until October)I am still going to keep track of our monthly spending and income, and hopefully we'll still be able to live BELOW our means and I'll have some leftover monies each month to tuck aside.
But this money leftover at the end of each month, at least for now(as we find our new financial "normal")won't be saved toward a yearly Savings Challenge.

The issue now is to cover all the bills with just the annuity payment each month plus some liquid savings(checking account cash)until October.
October is when Hubs turns 59.5 and then we can access the 401K retirement savings.  Until then things will be tight here at Chez Sluggy, so all the leftover monthly cash will get tucked aside to pay irregular bills that will be popping up for the rest of the year.

Got it?
OK, let's move on.

Though nothing will be put toward it the rest of 2017(probably), the 2017 $17.5K $AVING$ CHALLENGE Totals are still available
Check out the Savings Challenge page tab at the top of the blog for the specific numbers HERE.

On to the November report--
I had 2 goals for November......
The 1st is to actually finish the month in the black and not the red.
The 2nd is to try to have a little cash leftover at the end of the previous month to apply toward irregular bills that are coming due in subsequent months.

I have to report that we finished up November in the black.
The extra amount we ended the month of November with?.......$4007.15


The income in November was the monthly annuity payment,the healthcare account reimbursement and the October overage of $3454.25 that carried over.  I also had interest on non-retirement accounts and a blogging revenue check in November and brought us to $8855.11 of total income.  Expenses(including funding the Sinking Fund)came to $4847.96.

This brought us to our gain of $4007.15  If you deduct the overage from previous months that carried over into November and the Healthcare payment and reimbursement from the euqation, this means we spent $97.11 LESS than what we brought in in November for the annuity payment only.  So far we are doing ok without accessing the 401K account.

Since we have no debt, this November overage will get put aside to apply to the irregular bills coming due in December(of which there are none due that month)and then rolled over into 2018 to pay either $3K HDHP costs or property taxes that are due near the beginning of the year.  Plus we have to take a chunk out of this overage to pay for the "rescue mission" costs.

As for the expenses this November, here are the good and the bad side of things....


*  Phone charges and internet were approximately the same as last month(Within $1 or so).
*  The gas card bill was $12.54 lower than last month.
*  The cash WAM withdrawals were $165.00 lower than in October(extra WAM was taken out in October but I don't recall why/what for).
*  After paying the semi-annual car insurance the Sinking Fund carries over at $366.74 into December.


*  The water bill was $5.44 higher than in September.
*  The electric bill was $53.67 higher than last month's bill.
*  The credit card bill was $757.10 more than October's bill(mostly furniture purchase).
*  The car insurance was due(paid for out of the Sinking Fund).
*  A dental bill was due and paid in November.
*  We had to pay the November health insurance premium of $1771.94.

The Food Budget costs for November are in another post, which is located HERE.

So we end November in the black with $4007.15 to apply to irregular bills going into 2018.
Plus the Sinking Fund goes into December standing at $366.74.

FINAL THOUGHTS on November---It was a pretty good month financially, even with buying the buffet......until Hubs had to go on his "rescue mission" to IL.  This will impact our December bills as the charges were put on the credit card.  Just a few extra bills in November so we didn't have to dip into the 401K yet.

THOUGHTS going forward into December of 2017----

Electric usage(and thus costs)will rise this month.
Food spending shouldn't be over $400(even though it's Christmas this month).
Most of the usual bills will be about what November's levels were.
But the credit card bill will be higher than usual, not because of Christmas spending but because of the "rescue" mission we bankrolled.  Thankfully we are not traveling anywhere for Christmas which would have added charges to the c/c.
We are just trying to hold a line on the bills and not have to access the 401K account until 2018.

So how was your November financially?
Did you spend less than the income you had in November?
Did you stay within your budget or not?
What did you do with any money leftover at the end of the month?
Did you pay off any debts or put extra toward your mortgage principle or into savings, in an emergency fund or a retirement account?
Or did you blow it on a want?

If you posted your financial progress on your own blog, leave a link in the comments so we can go check out your progress too and celebrate or commiserate with you!

I hope this year was the one were you cleaned up your finances and paid off your debts.
That you planned to set something aside if you didn't already or increased what you banked now for your future self.
Or paid extra on the principle of your mortgage if your house isn't already paid off.

Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.



  1. November was a tough month for us as we were just coming off 30 days of Hubs not working d/t surgery. Thankfully we were able to meet all of our bills and stay afloat. I'll call that a win!

  2. Well done! I knew you would do it, you are so good at budgeting, even with things like the rescue mission blip

  3. I posted an update recently on my blog. There have been a lot of changes in my life, which have translated into financial changes. Buying my forever home in April, remodeling/upgrading/repairing it has lead to significant, additional expenditure, now leveling off. Literally just had the remaining to do now tasks addressed on Fri by my new handy woman. So now, I sit tight, address my new medical insurance plan changes effective 9/17: and stuff some significant savings aside. I have the goal of paying off some CC debt from the home repair/remodel and amassing funds that will be needed for Spring/Summer projects. Agree with you that it's imperative to live below one's means. I always have, and continue to do so. Life has thrown me some serious curveballs, including taking early retirement at 53, due to medical reasons. Life is good, however. : )

  4. My goal is to save $1,000 a month out of my pension. I managed to do that in November and I also have $1,000 cash in my snowflake box. If I can stay within my budget in December then I can use my snowflake money to buy British pounds towards my next trip. Fingers crossed!

  5. I am glad for you with your endeavors and successes.

  6. Sluggy!
    LOVE reading about early retirement spending. It sounds like you have it all under control, with extra to spare. Our goal is to retire when hubby is 62, (8 years) so we will have access to our 401Ks at retirement. But our immediate goal is to get our emergency fund to a healthy amount. I'm always amazed at how much you can save each month! :)

  7. You're doing great, and I foresee you still, unless are doing so to intentionally increase your spending, see you needing to use much in October above your annuity. Well done. November was OK-we were in the black, but I also had an increase in my paychecks since I maxed my 401 K-so really, should have been able to save more.

  8. Hi Sluggy, this is Chris. November was a good month for us, I was able to pay extra on our mortgage, and was also able to send some extra to our regular savings, since my Hubs got an extra paycheck Dec. 1. I appreciate so much that you share your spending and net worth with us, it gives me ideas of things I can do to save more for our retirement, which we are still working for my Hubs at 65.


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