Monthly Expense Report, June 2017

Summer is here – and for maybe the first time since being an adult, I am excited for the warm weather! I am 90% of the time a cool/cold weather guy, so summer is always dreadful. The heat and humidity makes me tired and cranky! 😉

I must be getting old, because that summertime feeling is filling me up!

June was a record month for my finances. Spending, while not an all time low, was relatively good , but it was the income side that penned this month into the record books.

So let’s get a quick review of the spend numbers before diving into the Net Worth update. Like every month, this is only my spending and no one else in the household. Current target is under $2025 per month. 

// Monthly Expense Report

Category Costs Comments, etc.
Housing $1500 Sending about $500 extra towards the Principal every month. Feels good. 🙂
Foods $215 A little spendy – more on that below.
Home $205 Owning isn’t all equity and fun – especially when your home is a bit older.
Pets $155 Foods, treats, and rando supplies.
Auto $150 Insurance, gas, and registration renewal.
Debt $135 3… 
Entertainment $50 A luxury tax for my work trip.
Internet $50 Nothing new here.
Phone $45 Or here.
Medical $5 Parking at the hospital
Total  $2510 Lower than expected – so I’ll take it!
$1500 on HOUSING

The mortgage payment is something that has been on automatic payments for a while now. After we refinanced a couple of years ago to a great rate (3% on a 5/1 ARM w/ 8% max interest rate) it was one of those debts you decide to pay the minimum. Well, soon the mortgage will be the only outstanding debt.

After years of paying down student loans, car loans, and even our 0% interest HVAC loan – I’ve become rather debt averse. Everyone will say to throw money into your investments when your debt has a low interest rate – and I think 3% qualifies. However, I guess I am timing the market here. Looking at rates going up, looking at our soon to be adjustable rate, and looking at the high equity markets, I can’t help but want to pay the mortgage off.

All of this taken into account – we are gladly plugging extra money towards the mortgage to make short work. Not super short, but greatly reducing the number of pay back years to make us feel better.

$215 on FOODS

Ahhh, yes. Nearly half of this line is for one celebratory meal. For two people that is quite the meal – at least in my book. There are a few more details in the Net Worth section below, but when you get a good an AMAZING bonus, you deserve to splurge. (Unless you are in terrible debt, in which case I would certainly take more joy in kicking some debt ass!)

Actually the groceries % of this line is quite small – lots of work travel equals expense meals. With my co-op underling leaving I also got a few free farewell lunches, as well as treated him on his last day.

$50 on ENTERTAINMENT

So as I said I traveled quite a bit this month for work. Luckily, one of these trips was not my usual day long road trips where a free lunch does not make up for the length of car time.

One trip however brought me to Philadelphia. Luckily, I snagged a great rate on a room downtown, and ended up paying the $50 for my parking cost that was above and beyond a room outside the city.

not my picture, but monk’s cafe front bar

By all means, Philadelphia appears to be a fun, lively city – everything is packed together so nicely!  I ended up getting a burger and shack at one of the HipCityVeg locations then wandered down to Monk’s Cafe. Place was PACKED, but I grabbed a stool and had some great brews on tap (Pliny the Elder – mmmmmm!). All in it was worth the $50 extra for parking and whatever cash I had in my wallet. (I only track cash when it leaves the ATM, not my wallet.)

drum roll please…

// Net Worth

Oh yes, bouncing back positive! Look at that little green guy bound! 😀

Will somebody pinch me?!

It was BONUS SEASON at the ol’ grind. And what a season it was! I’ve never experienced anything like this – this round of bonus was nearly 20% of my gross yearly take home! 😀 (Still unreal looking back on that big-fat number!)

So as we can now see, net worth is now over my projected target, from 1.5% below last month to now 5.3% above my goal! This bump puts me on schedule to triple my net worth (since start of 2016) by the end of October – this year! Absolutely loving that!

Well that wrap’s up our record making June – with perfect timing for the mid-year. It’s probably time to get reviewing those 2017 goals and make sure other aspects of my life are in order. Finance is fun – but life is not money.

*House equity – despite the increased mortgage principal payment is and never has been part of my net worth calculation.

 

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