Each month I will post my income/expenses for the previous month. I track every dollar in and out, so what you see is exactly what I earned and spent (rounded to the nearest dollar).
Income from April 2011:
$95–Bonus and Spiffs
Total Income: $4,245
Expenses from April 2011:
$54–Fast Food and Pizza
Total Expenses: $1,623
*-The Everything Else category includes things I don’t have a regular budget for. In this case it was ($34) spent on gifts, as my girlfriend and her child both had birthdays in April. The Entertainment category this month comprised of a ($19) visit to the movie theater as my girlfriend wanted to see “Fast Five” for her birthday.
I managed to save 61.8% of my net income this month, which was a huge victory after last month’s dip. This is my highest percentage of net income saved since I’ve started tracking this figure. I am really proud to have hit this kind of savings for the month. I don’t really have a lot I would have changed for the month. My overall food costs ($219) were high, but mostly because I splurged a little after last month’s lack of spending in this category. It was also my girlfriend’s birthday in late April, and we went to a really nice dinner at a waterfront restaurant. We had a great time and it was worth every penny. One expense I did a great job of keeping down was fuel ($52). I watched my gas pedal at every green light and really took it easy on the car.
My expenses were slightly high, but the greatest thing about this month was that I broke another record in net income. This was the highest amount of monthly net income I’ve ever posted in my life. I had a few pretty big sales at work, which was great. This amount of money is pretty unusual for me to earn in one month, and I suspect my net income will downtrend the rest of the summer as our “busy season” here in Southwest Florida has wound down. Things will ramp back up in the Fall.
Overall, I’m very happy with this budget. If I could post numbers like this every month my finances would be on auto-pilot. Unfortunately, life makes me work a little for it.
My goal is to average a 50% savings rate of my net income, monthly. So far I’ve hit rates of:
I am now at an average of 52.2% for the year and on track for my goal. Wish me luck.
Thanks for reading.