Income & Spending.....the May 2023 Edition

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 2023.

This month I also had a goal to survive the move and have a little fun.  So far, so good.;-)

I can report that we finished up May in the black.

The amount extra we ended the month of May with?...$862.13

Income or Funds We Can Access

The "income" in May---

*  Monthly annuity payment of $3,235.81(after tax withholding)

*  SS income of $3879.00

*  Interest earned on non-retirement accounts of $915.39

Total "Income" for May....$7,520.79

Expenses in May---
* Irregular bills in May were $2,783.07

* Variable Expenses in April came to $3,875.59

* Health insurance premiums totaling $1,194.82*

Total Expenses....$6,658.66

$$7,520.79-$6,658.66=$862.13

* Now that Hubs is on Medicare I include his supplement payment in variable/regular monthly expenses instead of the Health insurance premium.

Slush into May of $66,065.64 in that Fund, add the overage of $862.13 in May and we get $66,927.77 going into June's 2023's Slush Fund.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $862.13.

Outgo

As for the variable expenses this May here are the good and the bad side of things....

HERE are the GOOD THINGS

*  The cell phone, WAM, the water bill, Health Insurance Premium and internet were the same as last month.

* My Amazon c/c bill went down $441.13 in May.

*  Electric bill went down $45.27 last month.

*  Hubs Amazon c/c bill went down $2,677.74 in May.

HERE are the BAD THINGS

*  The Mastercard c/c was $441.13 higher than last month.

*  We had irregular bills due in May too--

  *   Paid for a whole year of auto insurance at $1,592.00

  *  BOA c/c trip charges of $372.00

  *  Paid an electrician $202.50

  *  Hub's American Airlines card $243.84

  *  I paid for much needed smaller clothing $372.73

The Food Budget costs for May are in another post HERE.  Food costs are included in the credit card payment(mainly but sometimes our WAM cash too).

FINAL THOUGHTS on May 2023---Not a bad month financially with only the electrical work coming out of left field.  Glad the car insurance is paid for the next 12 months but it took a bite out of the budget.  The clothing was a necessary expense so I didn't drop my drawers on the cruise ship. lolz

THOUGHTS going forward into June 2023--no extra income in June except a small stock dividend, just same old, same old.  Another small charge for clothing purchased but the big one for 2 hotel nights with secure parking in Dallas while we cruised and all the London charges like a little food ,trinkets, cab rides, attraction, and  theater tickets plus a few more charges in other ports and that's all on Hub's Visa c/c which he has yet to give me the total.  I think he is afraid of letting me have it. lol  

We also have a Lowe's bill for a ceiling fan purchase and other miscellaneous and some food charges during the first third of  May.I am not looking to have any money leftover from June's bills so will most probably end up in the red once June is all accounted for.

So how was your May financially? 

Did you spend less than the income you had in May?
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?

If you posted your financial progress on your own blog, leave a link in the comments so we can go check out your progress too and celebrate or commiserate with you!

Sluggy