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 September report---
I had 2 goals for September.......
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 September in the black.
The amount we ended the month of September with?.....$1,408.76
Income or Funds We Can Access
The "income" in September---
* 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 $459.94
Expenses in September---
* Healthcare Premium for September was $1,883.76(paid for with RMSA reimbursement)
* Irregular bills in September were $2981.44
* Variable Expenses in September came to $1996.52
Total Expenses....$6861.72
$8270.48-$6861.72=$1408.76
Slush into September of $28,633.63 in that Fund, add the $1408.76 September overage brings the Slush to $30,042.39 going into October.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $1,408.76 for September.
HERE are the GOOD THINGS
* The cell phone bill was $4.99 lower than in August.
* The Amazon c/c bill was $113.85 higher than last month.(It was $0 in August.)
FINAL THOUGHTS on September---
It was a good month overall financially. Regular variable bills were quite low. Two irregular bills were due(one small, one large)in September and we withdrew $3K from the 401K monies to cover the larger of the two bills. Turns out we only needed about half of what we withdrew to cover the school taxes but it's all good. The "leftover monies" just go into the checking account and will absorb any excess bills in the coming months. If we don't need to draw from those leftover funds Oct. through Dec. then it will go into paying toward our high deductible plan health insurance costs which resets on Jan. 1.
THOUGHTS going forward into October 2020----
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?
Sluggy
I am so looking forward to getting my budget in order,this month will be interesting.
ReplyDeleteSounds like a good month for you in September. I hope October goes just as smoothly. We are doing OK here, keeping our heads above water and since I'm not working that is a good thing.
ReplyDeleteI spent over the food budget to put extra in the freezer for winter. When Aldi put hamburger on for $3.99/lb, I made trips to all three stores in our area. While perhaps not the intention for the quantity limits, I don't feel like I broke any rules since I'm going out every 2+ weeks (when milk/bread/veggies are the bottom of the barrel).
ReplyDeleteWhen Harris Teeter put their pork roasts on for a Friday/Saturday sale, I was able to get 6 total roasts between my card and the dog's. I went back on Saturday to repeat the process so 12 roasts will be plenty even if we go into lockdown for months again. I like the pork roasts because they're very flexible [tacos, sandwiches, rice additive] so it never feels like the same leftovers repeatedly. Down side is that I bought the biggest meats I could find and now may have to cut them or buy a larger slow cooker. Perhaps not as frugal then....
We are doing well in all areas except for groceries. I need to take a long hard look at our spending, and break apart the numbers & decide on a reasonable post-COVID amount would be. It's not just pre-COVID with some inflated grocery prices. We previously had free breakfast, lunch & snacks at work & primarily eat earlier in the day. So, that's had a big impact. But, we also have quite a few things that have been "splurges", so need to find the right balance.
ReplyDelete