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 July report---
I had 2 goals for July.......
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 July in the black.
The amount we ended the month of July with?.....$2241.06
Income or Funds We Can Access
The "income" in July---
* 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 $507.19
* Some of my excess WAM cash to cover my Ancestry subscription and a cash birthday gift to Eldest so=$200.00
Total "Income" for July.....$5813.19
Expenses in July---
* Healthcare Premium for July was $1,883.76(paid for with RMSA reimbursement)
* Irregular bills in July were $89.00
* Variable Expenses in July came to $3483.13
Total Expenses....$3572.13
$5813.19-$3572.13=$2241.06
Slush into June of $27,118.01 in that Fund, add the $2241.06 overage brings Slush to $29,359.07 going into August
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $2241.06 for July.
Expenses in July---
* Healthcare Premium for July was $1,883.76(paid for with RMSA reimbursement)
* Irregular bills in July were $89.00
* Variable Expenses in July came to $3483.13
Total Expenses....$3572.13
$5813.19-$3572.13=$2241.06
Slush into June of $27,118.01 in that Fund, add the $2241.06 overage brings Slush to $29,359.07 going into August
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $2241.06 for July.
Outgo
As for the variable expenses this July, 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 the same as last month.
* The water bill was $3.37 lower than in June.
* The Amazon c/c bill was $99.93 lower than last month.
* The water bill was $3.37 lower than in June.
* The Amazon c/c bill was $99.93 lower than last month.
* The Mastercard c/c bill was $136.05 lower than in June.
* The WAM was the same amount taken in June
* The WAM was the same amount taken in June
HERE are the BAD THINGS
* The electric bill was $14.31 higher than last month.
* The electric bill was $14.31 higher than last month.
* The gas bill was $52.45 higher than in June.
* Dixie Belle needed her rabies shot and a parasite check so that was $39.00 paid we didn't plan for.
* A cash birthday gift was given in July.
The Food Budget costs for July 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 July---
Two small irregular bills last month so that was good but I did spend what I consider a lot at the grocery stores.
THOUGHTS going forward into August 2020----
The house insurance is due mid-August as far as irregular bills go. The Mastercard c/c bill will be high due to the new love seat we purchased for the den.
So how was your July financially?
Did you spend less than the income you had in July?
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
Here's my curiosity.Voyeurist question. Will your RMSA last as long as you are having to pay for your health plan? this is the one post retirement cost I just am struggling with figuing out how topay for. My HSA is tiny, and I know there are optiosn to put more in, but I need ot research where those might be.
ReplyDeleteSomewhat related (but not quite): As of yesterday (August 04), we reached the millionaire status, largely due to home value and investments. Yes, our overall balance will be subject to the ups and downs of those two factors. Yet, we decided to have a mini-celebration.
ReplyDeleteCongrats. I’m pleased to say I achieved the same by 40!
DeleteI think your accounting is so interesting! We paid off our home 2 months ago & am slowly beginning to realize we don't have that huge bill any longer & it's ok to spend a few $$ on extras. Not along, mind you, but a little extra sure is fun to have! We are still saving lots & now helping a family member for a few months...
ReplyDeleteThanks again for sharing. So interesting to see how other people live!
July saw an increase in our grocery spending, but I have 2 additional adult mouths to feed. It's worth the extra, especially since we have been eating in nearly every meal and have only opted for take out on occasion. There is still no way I am going to eat in a restaurant.
ReplyDeleteI cn't imagine outdoor dining is very nice in your Alabam heat andhumidty either. I do long for going out for happy hour, but will settle for my deck and porch.
DeleteI enjoy watching your slush fund grow. I am still spending more on groceries than usual, I think until this pandemic is not so severe I'll just accept things cost a bit more. I was still able to make good progress on our debt though and finally reach the half way mark on our mortgage.
ReplyDeleteIU adds $3200 to my HSA every year and we generally only use it for the eye doctor and dentist. We’re drug free and only go to the doctor for feral cat bites and such. Hopefully insurance isn’t so freaking expensive when we retire. Or Dave can keep working. 😁
ReplyDeleteNothing new here. Still over paying the mortgage and I think it’s down to 3.7 years. Property taxes just went up quite a bit though so not happy about that.
Jen G.