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 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 2021.
I can report that we finished up July in the red.
The amount we ended the month of July with?.....-$2,978.08
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 $1,971.99
* Interest earned on non-retirement accounts of $214.19
Expenses in July---
* Healthcare Premium for July was $1,971.99(paid for with RMSA reimbursement)
* Irregular bills in July were $3,405.86(Clothing, Cruise, Airline Tickets)
Total Expenses....$8,386.5
$5,408.42-$8,386.50= -$2978.08
Slush into July of $42,011.60 in that Fund, subtract the $2,978.08 in shortage and we get $39,033.52 going into August's Slush Fund.
The Slush Fund on it's Page(tab at the top of the blog)shows a reduction of $2,978.08 for July.
HERE are the GOOD THINGS
* The cell phone bill was higher by $91.96 in July. This is due to Hubs getting a new phone.
FINAL THOUGHTS on July---I knew July's financials wouldn't be pretty as the Slush Fund took a big hit what with taking the cruise/flight costs from that fund instead of withdrawing money earning "real" interest. I am ok where we landed on spending 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?
Sluggy
I am so excited, can't wait to see you, hope they don't cancel it!
ReplyDeleteWe were in the red (kind of) July as we paid off several bit bills including 2 loans and a big project on house. BUT we were in the black May and June so that money went to pay off that. August is looking to be in the red, garden stuff, canning jars that I ran out of and paid through the nose to get. At least I got them being delivered tomorrow.
ReplyDeleteCongratulations on getting the vacation mostly paid for. Once we started being able to do that, we had more fun ;).
ReplyDeleteI wouldn't count the amazon visa bill as a bad thing...have fun on the cruise!!
ReplyDeleteI do believe you got a deal on cruise/flight. I keep dreaming, but budget is too tight. Will enjoy your post upon return for sure.
ReplyDeleteSomeone went on Medicare which gives me a bigger paycheque now hurrah !
ReplyDeleteWe have always saved every month for vacations/travel so the money is there when we are ready to go. We have such a surplus piled up last year that I moved some of that cash to plain savings, but still we save some into our "vacation" account. It's much less of a shock that way. We had some things hit the budget in July that I thought would require a bit of a draw from savings, but I was able to cash flow it, so didn't need to do that.
ReplyDelete