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).
$115–Bonus and Spiffs
Total Income: $4,725
Expenses from March 2012:
$118–Fast Food and Pizza
Total Expenses: $1,293
*The Everything Else category includes expenses I don’t have a regular budget for. In this case it was birthday gifts for my girlfriend and her child, who both share birthdays in April. I also purchased a beach chair and miscellaneous beach supplies for the summer ($14).
This was another fantastic month for income. At this time I’m very satisfied with my income level and do not see any immediate improvements in this area. Things are humming along nicely at work for what it’s worth, even if I’m secretly planning my escape as soon as possible. No matter the income level I would still always choose to spend my time freely instead of trading it for a paycheck.
Expenses were pretty well in line. The only expenses that were a little higher than normal were my food expenses. This was due to a couple different reasons. Firstly, I’ve decided to eat a little healthier. After a year straight of eating ramen noodles almost exclusively for lunch I have moved on. I’m eating a bigger variety of food and I’ve also started to include protein supplements into my diet. I’ve become reinvigorated at the gym and feeling better than ever. The protein shakes/meal replacements allow me to keep my nutrition up on a financial/time budget. Second, I had family in town at the end of April. I spent more money on food out of the house than usual for this reason.
Rent has been increasing. This is due to the fact that apparently the water meter at my apartment had been broken and I was notified by the condo complex, owner and meter reader of this fact so now I’m being billed “appropriately” for my water usage. I guess I was getting away with a cheaper rate before. The rent shown above will likely be more representative of my rent charges going forward.
You’ll notice that my expense reports don’t really vary much month to month other than one-time charges like taxes last month or when I purchased personal transportation (my awesome 49cc scooter!). This is because I’ve learned to be happy with less and I’ve become content with my budget. I don’t have a want or need to purchase a lot of personal possessions that will require maintenance and/or storage.
I managed to save 72.6% of my net income this month. I consider anything above 70% excellent, so this was a great month.
My goal is to average a 65% savings rate of my net income, monthly. So far, I’ve hit rates of:
30% – January
74.7% – February
39.6% – March
72.6% – April
I’m now at an average monthly savings rate of 54.2%. Not bad. I had a bit of a rough start to the year but I’m coming back. I don’t anticipate any major expenses for the summer, so I’ll have a chance to get my savings rate above 60% quickly.
How are your budgets doing?
Thanks for reading.
Photo Credit: RambergMediaImages