Now that we are living on an annuity and 401K$ withdrawals, 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 February 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 2021.
I can report that we finished up February in the black.
The amount we ended the month of February with?....$1,764.55
Income or Funds We Can Access
The "income" in February---
* Monthly annuity payment of $3,229.07(after tax withholding)
* Interest earned on non-retirement accounts of $159.74
* 1/3 of Quarterly 401K withdrawal=$2,051.69
* RMSA account to pay for health premiums totaling $2,226.13
Total "Income" for February.....$7,666.63
Expenses in February---
* Irregular bills in February were $1,644.20
* Variable Expenses in February came to $2,031.75
* Health insurance premiums totaling $2,226.13
Total Expenses....$5,902.08
$7,666.63-$5,902.08=$1,764.55
Slush into February of $39,046.36 in that Fund, add $1,764.55 and we get $40,810.91 going into March 2022's Slush Fund.
The Slush Fund on it's Page(tab at the top of the blog)shows an addition of $1,764.55.
Outgo
As for the variable expenses this February here are the good and the bad side of things....
HERE are the GOOD THINGS
* The Internet was the same as last month.
* The water bill was $2.16 less than in January.
* The electric bill was $13.08 less than last month.
* The Mastercard c/c was $1288.08 less than in January.
* The Amazon c/c was $95.14 less than last month.
* The cell phone was $40.67 less than in January.
HERE are the BAD THINGS
* The WAM was $150.00 higher than in January.
* The gas bill was up $10.32 from last month.
Irregular bills were paid too.
* We paid the annual sewage bill in January instead of in February.
* We gave Ex-College Boy a birthday check.
* We gave Eldest Son and his new bride a Wedding Check.
* We had to kennel the dogs for a few days and paid for that.
The Food Budget costs for February 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 February 2022---We got through the month with quite a bit leftover(mostly due to 1/3 of the 401K withdrawal). Most of the wedding bills are due in March too.
THOUGHTS going forward into March 2022--Well, I predict March will see us in the RED for the month. Thankfully we have the Slush Fund to cover any overage in bills! Between wedding bills(hotel room, rehearsal dinner final payment)and the airline flights, gas for car to get to Lousiana, car rental out West, motel stays and dog kenneling for almost 2 weeks(don't forget eating out as well)and the Long Term Care premiums are due in March, yep, we'll be in the red. So many bills in March!
Not to worry though as it all averages out during the fiscal year. The $3200+ we had leftover in Jan./Feb. should cover most of the extra bills in March.
March will be a doozy of a month for bills so I'll be sitting my butt home in April and listing stuff on eBay. 8-)))
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!
Sluggy
