Now that we are living on an annuity, 401K$ withdrawals and social security payments, 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 May report---
I had 2 goals for May.......
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 2022.
I can report that we finished up May in the Black.
Income or Funds We Can Access
The "income" in May---
* Monthly annuity payment of $1,009.68(after tax withholding)
* Interest earned on non-retirement accounts of $887.15
Expenses in May---
* Irregular bills in May were $642.03
Slush into May of $41,445.02 in that Fund, add $2,663.84 and we get $44,108.86 going into June's 2022's Slush Fund.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $2,663.84.
HERE are the GOOD THINGS
FINAL THOUGHTS on May 2022---It was a bang up month financially. Spending was down. rah. This was the last month with any money in the Medical Retirement Account. It is now empty and we'll be using most of Hubs SS payment to cover healthcare premiums for the remainder of the year. I also have the SS payments he received up until May tucked away in a savings account for emergencies.
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?