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 June report---
I had 2 goals for June.......
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 2021.
I can report that we finished up June in the red.
The amount we ended the month of June with?.....-$5,153.51
Income or Funds We Can Access
The "income" in June---
* Monthly annuity payment of $3,222.24(after tax withholding)
* RMSA(Healthcare account)reimbursement of $1,971.99
* Interest earned on non-retirement accounts of $178.85
Expenses in June---
* Healthcare Premium for June was $1,971.99(paid for with RMSA reimbursement)
* Irregular bills in June were $1,253.69(Wayfair swing, Long term care Premiums, Vet appt., Dentist)
* Variable Expenses in April came to $2,027.18
Slush into June of $47,165.11 in that Fund, subtract the $5,153.51 in shortage and we get $42,011.60 going into July's Slush Fund.
The Slush Fund on it's Page(tab at the top of the blog)shows a reduction of $5,153.51 for June.
HERE are the GOOD THINGS
* We had a bunch of smallish an irregular bills this month; Wayfair, Long Term Care premiums, Kohl's, Vet Bill, Dentist.
FINAL THOUGHTS on June---Stayed under the food budget and all variable bills except the water bill were lower than in May but we had a significant amount of irregular bills and then we knew the bathroom reno would put us in the hole for the month but that's what the Slush Fund is for(funding extras like this). I am ok with it all as the bathroom turned out better than expected(the bar for handymen around here is set pretty low). ;-)
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?