Now that we are living on an annuity and 401K$ withdrawals(some months), 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.
I am trying to be as transparent as I can with how much is coming in and how much is going out. 8-)
On to the April report---
I had 2 goals for April.......
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 tuck back into a slush fund. This slush fun may be to apply toward unforeseen bills that are coming due in subsequent months, to spend on "extras/wants" during the year or to just sit there and grow until the end of 2020.
I can report that we finished up April in the black.
The amount we ended the month of April with?.....$1,685.86
Income or Funds We Can Access
The "income" in April---
* Monthly annuity payment of $3,222.24(after tax withholding)
* RMSA(Healthcare account)reimbursement of $1,883.76
* Interest earned on non-retirement accounts of $793.14
* Refund from landline/credit finally! of $10.82
Total "Income" for April.....$5,909.96
Expenses in April---
* Healthcare Premium for April was $1,883.76(paid for with RMSA reimbursement)
* Irregular Bills in April came to $61.00(State Tax Bill)
* Variable Expenses in April came to $2,279.34
Total Expenses....$4,224.10
$5,909.96-$4,224.10=$1,685.86
Slush into April of $22,352.51 in that Fund to take into May with the $1685.86 overage brings Slush to $24,038.37. going into May.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $1,685.86 for April
Outgo
As for the variable expenses this April, here are the good and the bad side of things....
HERE are the GOOD THINGS
HERE are the GOOD THINGS
* Phone charges and internet were approximately the same as last month.
* The electric bill was $18.99 lower than in March.
* The WAM was the same amount taken as last month.
* The gas bill was $5.18 less than last month.
* The electric bill was $18.99 lower than in March.
* The WAM was the same amount taken as last month.
* The gas bill was $5.18 less than last month.
HERE are the BAD THINGS
* The Amazon c/c bill was $23.37 higher than in March.
* The Mastercard c/c bill was $190.89 higher than last month. $350 of that bill was car registration and car repairs.
* We took an additional $200 out in cash to pay for take-out at the lone Chinese restaurant still open in our town as they don't take c/c.
* We paid $61.00 in state taxes owed to PA(an irregular bill).
* I bought $134.92 in clothing in April. Was going to take that out off my accumulated WAM but Hubs says we don't pay for our clothing out of WAM so I didn't and it goes on the balance sheet here. lolz
* The Amazon c/c bill was $23.37 higher than in March.
* The Mastercard c/c bill was $190.89 higher than last month. $350 of that bill was car registration and car repairs.
* We took an additional $200 out in cash to pay for take-out at the lone Chinese restaurant still open in our town as they don't take c/c.
* We paid $61.00 in state taxes owed to PA(an irregular bill).
* I bought $134.92 in clothing in April. Was going to take that out off my accumulated WAM but Hubs says we don't pay for our clothing out of WAM so I didn't and it goes on the balance sheet here. lolz
The Food Budget costs for April are in another post, which is located HERE. Food costs are included in the credit card payment(mainly but sometimes our WAM cash too).
FINAL THOUGHTS on April---
April was a quiet and boring financial month.
We don't have jobs to lose and our annuity is a guaranteed source of income so we don't have financial woes from this pandemic and we know we are blessed AND lucky.
THOUGHTS going forward into May 2020----
More stay at home orders here in PA so we sit here making no travel plans for 2020 so I can take care of life/money issues elsewhere and make plans to relocate.
Financially, we have one irregular bill due--semi-annual car insurance in May. The electric bill should continue to go down as the weather gets warmer. All other bills should be about the same.
We'll have to pay Ex-College Boy's portion of the car insurance until he gets some $$ flowing in. He is broke after being without work for 6 weeks and is waiting on his first unemployment check still(applied in mid March), no clue on where or when his Stimulus Check will arrive(might be July before he sees it?!)and his Federal tax refund is also MIA so we'll be fronting him the car insurance cost until he gets something because we have the funds to help him short term. Before all this started he had money saved to move out into his own place this Summer but that's all gone now with having to pay other bills along with having no paychecks/employment.
Our car insurance Pandemic discount won't show up until November either. yay.
So we just "keep on keeping on" here, as the saying goes.
So how was your April financially?
Did you spend less than the income you had in April?
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?
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!
Sluggy
Sluggy
I'm sorry your ECB is starting over from ground zero. I guess it might be a wake up to how much it would cost to live on his own, and he might rethink the timing. While 6 weeks is a long time with no income, the fact that all his set aside was used means there is not a lot left over on his current bills to go towards his own rent, renters insurance, groceries, and utilities. Boy it adds up! Our son in Californina is much the same though it has been 7 weeks with no income-still waiting for unemployment, but got his stimulus, so with what he still had in savings, he figures he can get through May, but if no unemployment or other work comes this month, May 31 life changes and he will be at literal $0.
ReplyDeleteI was over on our grocery bill by $150 but I am done stocking up now (said that last time but really I am now) so will be careful what I buy from here on out. Every month from now until Christmas I am buying the ingredients for Christmas goodies (ensuring they have long best by dates). This month it was $20 worth of pecans and mixed fruit for our fruitcake cookies. Weird but I actually think there will be a run on that type of stuff in the fall as everyone tries to bake some happiness into Christmas. Other than that we spent over $1000 on the yard, most planned expenses like moving sprinklers and chaise loungers to go with the rest of the stuff we bought. Some flowers, some dirt, some fertilizer. We spent a grand total of $22 on entertainment and that was one takeout at McDonalds, otherwise ate every other meal at home. Zero on so many categories so was ok to go over on the home one. And we haven't got gasoline in both our vehicles since March 17 and 21. There is still over a half a tank in both, likely we can make it to June lol. There is no relief for insurance here, government owned and they don't think it's necessary :(
ReplyDeleteMy expenses have dropped some. Still working fulltime but mileage has shrunk. So has driving. As a healthcare worker I have been taking advantage of the free meal offer at McDonald's. I'm loving me sweet tea, egg mcmuffins AND hash browns each morning. It is a guilt free treat during my No Spend 2020. Imsaving for my master's degree AND hopefully a down payment on my retirement home ( probably another TWO year No Spend challenge.) Inwant to thank you so much for the give away I won several months ago. I haven't had to run to the store for vitamins during this pandemic. My sister AND I had the last two Lindt truffles (deeevine!) as a treat on a bad day. I used a an item in my others sister's birthday bag along with some items from my gift stash. You have been a gift from heaven!
ReplyDeleteWendy Payne
I went over our grocery budget by a bit over $300 last month. I'm determined to get back on track in May so I can pay more off the mortgage this month.
ReplyDeleteIt was another month for me not knowing the budget. When I read your posts they remind me to start learning the house finances.
ReplyDeleteWe went way over on groceries, but under on all other categories. We also can't plan anything, and had many things cancelled/refunded. We owe a ton in taxes, so the extra timeline is helpful. We're saving all of the overage now for 2019 taxes, and will then move on to plan better for 2020 taxes.
ReplyDeleteI'm selling things here & there on eBay & adding all of that money to our mortgage. I get excited about the tiny drip drops of progress. I hate feeling like it's standing still.