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 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 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 November in the black.
The amount we ended the month of November with?.....$187.70
Income or Funds We Can Access
The "income" in November---
* 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 $433.06
Expenses in November---
* Healthcare Premium for November was $1,883.76(paid for with RMSA reimbursement)
* Irregular bills in November were $520.43
* Variable Expenses in October came to $2947.52
Total Expenses....$5351.71
$5539.41-$5351.71=$187.70
Slush into November of $32,178.08 in that Fund, add the $187.70 November overage and this brings the Slush to $32,365.78 going into November.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $187.70 for November.
HERE are the GOOD THINGS
* The electric bill was $25.18 higher than last month's bill. This one will continue to rise as Winter sets in.
FINAL THOUGHTS on November---
It was a good month overall financially. No unusually high normal bills other than the c/c due to our trip but we knew that was coming. Any month we don't spend more on outgo than comes in is a good month with the monies. Some large bills were due so not much overage to carry forward into the Slush Fund in November, but some months are like that.
THOUGHTS going forward into December 2020----Most of my Christmas shopping is done already so not much more will go on the credit card for December(besides food spending for the month). My big expense this December will be the cost to mail/ship gifts. I've got 7 packages(not counting Giveaway boxes)to ship to what seems like every state in the country this year! lol Lots of $$ going to the USPS this year.....
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
that slush fund is looking nice and healthy! November/December are our worst month here for bills with lost of annual payments due at the same time unfortunately so no money leftover here. However our retirement funds have had a nice jump back after taking a dive earlier in the year so that is a win.
ReplyDeleteThis year we have spent very little. Just the required monthly obligations and we do have property taxes due on the 10th.
ReplyDeleteMy husband's social security is in review due to them believing he made too much last year. So we had to get our congressman to help us since the SSA is closed due to covid 19. What a time, to possibly have half our income held back for 3 months!
Found a box for your crumbs....
ReplyDeleteNovember was god month here as well, though it's mostly because the 401K's are fully funded. a big chunk will go into a Roth by April. I'm trying to get all Christmas spending, minus a few food items by 12/10so no lingering expenses, but we will be giving a lot of cash boht as gifts and increased donations in December so expect to save less.
ReplyDelete