2020 Income & Spending Report........the April Edition

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 April report---

I had 2 goals for April.......
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 April in the black.
The amount we ended the month of April with?.....$1,685.86

Income or Funds We Can Access

The "income" in April---

* 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 $793.14
* Refund from landline/credit finally! of $10.82
Total "Income" for April.....$5,909.96

Expenses in April---

* Healthcare Premium for April was $1,883.76(paid for with RMSA reimbursement)
* Irregular Bills in April came to $61.00(State Tax Bill)
* Variable Expenses in April came to $2,279.34
Total Expenses....$4,224.10

$5,909.96-$4,224.10=$1,685.86
Slush into April of $22,352.51 in that Fund to take into May with the $1685.86 overage brings Slush to $24,038.37. going into May.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $1,685.86 for April

Outgo

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

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month.
*  The electric bill was $18.99 lower than in March.
*  The WAM was the same amount taken as last month.
*  The gas bill was $5.18 less than last month.

HERE are the BAD THINGS

*  The Amazon c/c bill was $23.37 higher than in March.
*  The Mastercard c/c bill was $190.89 higher than last month. $350 of that bill was car registration and car repairs.
*  We took an additional $200 out in cash to pay for take-out at the lone Chinese restaurant still open in our town as they don't take c/c.
*  We paid $61.00 in state taxes owed to PA(an irregular bill).
*  I bought $134.92 in clothing in April.  Was going to take that out off my accumulated WAM but Hubs says we don't pay for our clothing out of WAM so I didn't and it goes on the balance sheet here. lolz

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

FINAL THOUGHTS on April---
April was a quiet and boring financial month.
We don't have jobs to lose and our annuity is a guaranteed source of income so we don't have financial woes from this pandemic and we know we are blessed AND lucky.


THOUGHTS going forward into May 2020----
More stay at home orders here in PA so we sit here making no travel plans for 2020 so I can take care of life/money issues elsewhere and make plans to relocate.

Financially, we have one irregular bill due--semi-annual car insurance in May.  The electric bill should continue to go down as the weather gets warmer.  All other bills should be about the same.

We'll have to pay Ex-College Boy's portion of the car insurance until he gets some $$ flowing in.  He is broke after being without work for 6 weeks and is waiting on his first unemployment check still(applied in mid March), no clue on where or when his Stimulus Check will arrive(might be July before he sees it?!)and his Federal tax refund is also MIA so we'll be fronting him the car insurance cost until he gets something because we have the funds to help him short term.  Before all this started he had money saved to move out into his own place this Summer but that's all gone now with having to pay other bills along with having no paychecks/employment.
Our car insurance Pandemic discount won't show up until November either.   yay.

So we just "keep on keeping on" here, as the saying goes.

So how was your April financially?
  

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

Income & Spending Report....February 2018

Now that we are living on an annuity(like a pension) and 401K$ withdrawals(retirement savings), 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.
But this money leftover at the end of each month, at least for now(as we find our new financial "normal")won't be saved toward a yearly Savings Challenge.

The issue now is to cover all the bills with these two sources of income and not have to dip into the regular savings(that I built over the last 10 years)to pay our month to month expenses.

Got it?
OK, let's move on.

On to the February 2018 report--

I had 2 goals for February......
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 2018.

I have to report that we finished up February in the black.
The extra amount we ended the month of February with?.......$9281.68

Income

The income in February---
* Monthly annuity payment of $3173.13(after tax withholding)
* RMSA(Healthcare account)reimbursement of $1813.48
* January overage of $4604.28 that carried over into Feb. 2018
* One third of 401K withdrawal balance for Feb. of $851.10 ##
* Interest earned on non-retirement accounts of $327.54

Total Income for February......$10,769.53

## The balance of the 401K withdrawal($2553.31)got divided by 3 and gives us $851.10 in January to add to the income for the month(Feb. and Mar. will also get $851.10/$851.11 respectively)for general expenses.


Expenses in February---
* Healthcare Premium for February was $1813.48.
* Variable Expenses in February came to $2533.13.
* No Irregular expenses were due or paid.

Total Expenses for February......$4346.61

$10769.53-$4346.61=$6422.92 overage for February.
Add in the Sinking Fund(carryover from Jan. since no irregular bills were paid out of it)of $2858.76 which leaves us with $9281.68 total to carry over into March.

Outgo

As for the expenses this February, here are the good and the bad side of things....

HERE are the GOOD THINGS

*  Phone charges and internet were approximately the same as last month(Within $1 or so).
*  The electric bill was $83.90 lower than January(thank goodness!)
*  The gas card charges were $35.51 lower than last month.
*  The credit card bill was $1122.22 lower than in January.
*  The cash WAM withdrawals was $50 lower than last month.

HERE are the BAD THING

*  The water bill was $6.70 higher than in January.
*  The LA house electric bill was $30.41 higher than last month.
*  The medical payments were $365.79 more than in January.
*  $150.76 was due on two store charge cards.  Not bad or an unmanageable amount as these were much needed items(clothing)and priced right.

The Food Budget costs for February are in another post, which is located HERE.

So we end February in the black with $6422.92 in general overage.
The Sinking Fund goes into March standing at $2858.76.
Added together that gives us a cushion of $9281.68 for March.

FINAL THOUGHTS on February---No big charges I didn't know where coming in February and the "usual suspects" aka the variable bills were pretty low.
What I consider our "income" was the annuity and the partial 401k withdrawal of $851.10, so $4024.23 "income" for Februrary.  The Feb. bills(without the Healthcare premium which is covered fully by the RMSA refund)were $2533.13 so we had $1491.10 leftover from "income" when the month was over.  If we can cover the bills(variable and irregular)each month with "income" leftover, our overage will continue to grow into the succeeding month.

THOUGHTS going forward into March 2018----This month has 2 different irregular bills due; Real Estate taxes and the annual Sewage bill but we have enough in the Sinking Fund to cover those fully(plus a little leftover too).  As for variable bills-The credit card bill will be higher than I like due to Hubs trip to LA to take care of some house business there and Medical bills will be lower I'd like to say but we have some pending bills still to work off the deductible....after March this line item should settle down a lot.  If the weather stays milder(knock on wood!)the electric bill will see a reprieve. Unless Murphy happens we should be able to stay under our $4024.24 "income" for March on the bills.

Financially boring months are great. ;-)

So how was your February financially?
  

Did you spend less than the income you had in February?
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!

Make this year was the one were you clean up your finances and pay off your debts.
Plan to set something aside if you didn't already or increased what you have banked now for your future self.
Or pay extra on the principle of your mortgage if your house isn't already paid off.

Live below your means and keep some change for a rainy day....because no matter how sunny it is in your life now, dark clouds come along and you'll be glad you have that umbrella to keep you dry.

Sluggy

The $20K Savings Challenge of 2013....April Update

$20K Savings Challenge.......April Update

In our family we save money. It is important to us to put money aside for "rainy days".  You know.....those unexpected days when things happen in your life that you can't plan on, but that DO happen and they cost you money you didn't know you'd need to pay out.

Our income is mainly the salary my Hubs draws from his job.  We have money taken off each paycheck from the top to put into savings, before we even get our hands on it.  This money that's taken goes into various pots....life insurance, investments and retirement savings.  It's automatic so we are never tempted to NOT put it into savings.
Once the automatic savings, plus taxes and medical/dental/vision payments are taken out, it leaves what we get to "live on".  From this amount we budget for bills, both monthly and irregular bills(semi-annual, etc.) and our variable bills(like food, eating out, etc.)  Anything left over once our monthly expenses are paid, I put aside into a Savings Challenge. 

For 2013 I am continuing my Yearly Savings Challenge.  I am going to keep the Goal amount at $20,000 again this year.

On to the April report.....

I have posted my April End of Month $20K $AVING$ CHALLENGE Totals.
Check out the side bar to your right for the specific numbers.

I have 2 goals each month.....
The 1st is to actually finish each month in the black and not the red.
The 2nd is to hit the targeted savings amount of $1,666.67.

I have to report that we finished up April in the black!
The extra cash amount we ended the month of April with?.......$3,108.15

Income
We had $1497.65 left over from our income after our monthly expenses were deducted. 

Add in a per diem expense reimbursement check and our federal tax refund and we get another $1,610.50.  This brought our gain to $3108.15 for April.

Outgo

As for the expenses this April, here are the good and the bad side of things....

HERE are the GOOD THINGS

 

*  The long distance phone bill was $4.04 lower.

*  The cash withdrawals were $225 less than in March.

* The electric bill was $54.53 lower than March.

HERE are the BAD THINGS

 

*  The water bill was $4.05 higher than March.

*  The credit card bill went up $892.261(but was still paid off at month's end.)

*  The music lessons were $60 more.
*  The doctor bills were up $185.30 from last month.
*  We had an additional prorated bill for $200.01 for car insurance since #2 Son has his license now.  I'm not complaining though as it was suppose to be $400, but with taking Daughter off(sort of)the increase was less than expected.

The Food Budget costs for April are in another post, which is located HERE.

We overshot the food budget by $35.49 last month.

The 2013 TOTAL so far.....
With 4 month behind us, our Savings Grand Total for 2013 stands at $8,597.78.  Only $11,402.22 left to save and 8 months left to accomplish this.

 

Looking ahead for May......

*  We don't have any quarterly or yearly bills due this month. Yay us! ;-)
 

*  Due to my visit to the ER and hospital stay and all the new doctor appointments and tests, we will have bills starting to roll in this month, so I can't even hazard a guess if we'll be able to make our monthly savings target of $1666.67 in May.  We shall see in the fullness of time.

*  Gas and eating out spending will be higher this month due to a trip to see our oldest son graduate from college.  sniff, sniff

So how was your April financially?
 

Did you put ordinary living expenses on a credit card last month and not pay it off in full when due?
Did you spend less than the income you had in April?
Did you received any "extra" or unexpected money in April, like a tax refund or bonus at work,
and what did you do with those funds?
Did you stay within your budget or not?
Did you pay off any debt or put extra toward your mortgage principle?

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

Sluggy

$32K Savings Challenge for 2011.....JULY RESULTS....Extra Paycheck Edition

I have posted my JULY End of Month $32K $AVING$ CHALLENGE Totals.
Check out the side bar to your right for the specific numbers.

I have 2 goals really each month.....
The 1st is to actually finish each month in the black and not the red.
The 2nd is to hit the targeted savings amount of $2,666.67.

I have to report that we finished up July in the black!
The extra cash amount we ended the month of July with.......$5,530.11.

Income
We had $5403.96 left over from our income after our monthly expenses were deducted.
Add in $23.97 of Rebates applied against the food expenses, $2.18 in Interest on the Checking Account and $100 from my Focus Group work and you have a deposit of $5530.11  toward the Savings Challenge!

Our monthly target is an average of $2,666.67 to reach our Year End Goal.

Outgo
As for the expenses in July....

HERE are the GOOD THINGS
* We paid the Sewage bill for the year a couple of months ago, so no quarterly payment this month.
* The electric bill was about $20 less than June's.
* The credit card bill was well under $1,000 for a change.
* Three paychecks this month!

HERE are the BAD THINGS
* While not due until August, I paid the home insurance bill in July, since the car insurance is due in August as well.
* The WAM money was much higher than usual.


The Food Budget costs for July are in another post, which is located HERE.  The actual Food/Toiletries spending in July was almost $50 under budget or $75 under when rebate checks were applied toward the food bill.

What's ahead for August.......
There will b no summer vacation this year.  While I am sad we can't get away this summer my wallet will enjoy not having to pay for the added expenses that going away requires.
There are the usual suspects: electricity, water, phone, cable, credit card bill, food cash, etc.

We will have some Marching Band associated expenses in August.
We will have the semi-annual car insurance bill to pay.
Having the whole family(plus 1 girlfriend)home for part of this month will mean higher food bills, as well as electric and water bills.
Back-to-school means some credit card charges for some dorm room stuff & supplies for our 1st time college student this year.  #2 son also will need a few school supplies that I haven't already picked up for free.
Gas spending will also be higher in August with having to transport 2 college students across the state to 2 different schools on 2 different dates. bleh.

YEAR-TO-DATE TOTAL.....
With 7 months behind us, our Savings total to-date for 2011 is $20,781.02. 
We are just over $2,000 ahead of our final goal at this point in the year.  If we end up having a really bad expensive month at some point in the next 5 months, this will help us to overcome it and still finish the year reaching our goal.  It's like a little "get out of jail free" card for our Challenge.  Having that little extra takes some of the pressure off me. ;-)

So how are your savings growing so far this year?
Do you have an emergency fund of 6-8 months worth of expenses!  You really should, you know. 
With the current financial climate in this country, you should try to put away into savings as much as you can each month.

So come along and Challenge Yourself to Save Money each Month Toward a Realistic for YOU Savings Goal!

Not everyone can shoot for $32K, I fully get that!
But everyone can shoot for some number, right!?

Find a money goal that works for you and put that number out there for everyone to see.  It will help keep you accountable to your goal if other eyes are on you.
Ooo, that sounded kind of creepy didn't it? ;-)

So how was your July financially?
Did you spend less than you made?
Did you stay within your budget or not?

Leave a comment and share with us what you did with your money, both the good and not-so good.   Do you have any tricks or tips that help you to end your month before the money runs out?    Let us know!
If you posted your financial progress on your own blog, leave a link in the comments so we can go check you out too!

Sluggy

Is That A Food Money Hemorrhage I Feel?

                                    (Images courtesy of Millenium-mb.com)





Well this month began as a fairly Frugal Affair.

Ok, we took a short getaway trip to Ocean City MD....but we did it on the cheap and thrifty side!
And I stayed out of the grocery stores for two+ weeks....let alone any other kind of store, not counting Rite-Aid of course!  But Rite-Aid doesn't really count since they pay ME to shop there and I don't ever actually spend money at that store. 8-))
We were content and happy to be using up some stockpiled and freezer goodies for meals and snacks as the month began.

And then it happened......

Three, count 'em three local grocery stores ran Catalina deals in the last 2 weeks, including that lovely Hormel Bacon Promotion(slurp).  Weis Markets had a couple of Cat deals but I didn't even get to that store to take advantage of them....yes, I am slipping in my old age.

This past few weeks, it's like a rare convergence of celestial bodies combined with a lining up of the planets to form a Bargain Eclipse!lol
*Cue the skies opening up and a bevvy of heavenly hosts descending around my head, plucking on tiny harps and raising their angelic voices.....aaaaaah, aaaaahh, aaaaahhh.....

And just like that, I went from a monthly grocery spending total of just under $50 for October to a bloated budget busting total of over $300 for food.
Eeeeek!

I know, I know.....$300 in monthly food spending for a family of 4 is NOT really  "Out There" compared to what the average American spends on groceries, but for me, well......it's HUGE!lol

While I budget for food each month, we aren't living paycheck to paycheck and we regularly live well below our financial means.
So when I find great deals on food or anything else we need, I have the flexibility to spend more than I've budgeted and take advantage of the deals without taking the funds from some other expense we need the cash for instead.
Having a little extra cushion of money is a great thing indeed!
I highly recommend it. ;-)
But still.... when you scribble that pencil down to a nub and see $300 staring back at you from your piece of paper, it tends to make you pause, draw a darn big breath and make you light in the head for a moment.
Or is that just me? ;-)

I did 4 transactions at Redner's, doing the ConAgra and General Mills Catalina promotions(each gave a $10 Cat WYB $25 of items).  I bought 48 assorted items(from tv dinners to cooking oil to whipped cream to canned tomatoes) and spent $51.59 total OOP.  And I have a $10 Cat left to use.
While $50+ sounds high, that was for $293.53 of reg. retail value of food.
That's a savings rate of just under 82.5%(not counting the $10 Cat I have left).

As for my Hormel totals at Price Chopper......
3 bags of Pepperoni
26 packages of Bacon
34 cans of Chili
Equals 63 items
$39.90 OOP + a $7 Catalina left to spend
$222.27 reg. retail price of items
Savings of 82% (not counting the $7 left to spend).

So now I need to apply a Financial Tourniquet to our spending and try to avoid the grocery stores and eat down on this pile 'o food.
Luckily the month is almost over and I get to start with a clean budget slate in 5 days. 8-))

So how is your food spending going this month?
Have you gotten any good deals on groceries lately?

Sluggy