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 June report---
I had 2 goals for June.......
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 June in the Red.
The amount we ended the month of June with?...-$3,538.09
Income or Funds We Can Access
The "income" in June---
* Monthly annuity payment of $3,235.81(after tax withholding)
* Interest earned on non-retirement accounts of $160.97
Income or Funds We Can Access
The "income" in June---
* Monthly annuity payment of $3,235.81(after tax withholding)
* Interest earned on non-retirement accounts of $160.97
* 1/3 of Quarterly 401K withdrawal=$1,733.36
* SS of $2,432.00
* Dividend of $18.48
* Cash Deposit of $360.00(Hubs sold a gun and put some $$ into the household funds)
Total "Income" for June.....$7,940.62
Expenses in June---
* Irregular bills in June were $5,333.82
Expenses in June---
* Irregular bills in June were $5,333.82
* Variable Expenses in June came to $3,918.76
* Health insurance premiums totaling $2,226.13
Total Expenses....$11,478.71
$7,940.62-$11,478.71= -$3,538.09
Slush into June of $44,108.86 in that Fund, subtract $3,538.09 and we get $40,570.77 going into July's 2022's Slush Fund.
The Slush Fund on it's Page(tab at the top of the blog)shows a subtraction of $3,538.09
Outgo
As for the variable expenses this June here are the good and the bad side of things....
HERE are the GOOD THINGS
HERE are the GOOD THINGS
* The Internet, cell phone and WAM was the same as last month.
HERE are the BAD THINGS
* The water bill went up by $5.17 compared to last month.
* The electric bill was $2.75 more than in May.
* The gas bill was $48.55 last month.
* The Mastercard bill was $147.51 higher in May.
* The Amazon card bill was $296.18 last month.
* We had 5 irregular bills due in June--
* The quarterly LTC premiums were due for $2,226.13
* The doggies had vet visits and shots for $218.00
* A/C repair for $2,962.00
* 6 Window replacements came to $3500.00
* A month of storage for $95.40
The a/c and windows are non recurring bills.
The storage is a short term bill for now.
The Food Budget costs for June 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 June 2022---It was a high spending month what with the $6,557.40 in home repairs and moving costs. We were able to cover all but $3,538.09 of these abnormally high bills in June with our regular income streams. The rest of the overage in spending came out of the Slush Fund which is why we have one. ;-)
The interest income on the non-retirement funds was very low in June which wasn't expected. Though the water, electric and gas were higher in June it was all small amounts. The c/c bills were higher in June due mostly to Hubs purchasing painting supplies.
THOUGHTS going forward into July 2022--The only irregular bills due in July are the short term storage bill and my Ancestry membership renews in July. We also have decided to take another quarterly 401K withdrawal in the 3rd quarter which nets us an additional $1,733.36 each of the next 3 months in 2022. We should be well below our income this coming month.
So how was your June financially?
Did you spend less than the income you had in June?
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?
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
