Our Family’s Expenses: May 2017

Hello summer. This month’s expenses were pretty much same as the previous month. That means there weren’t any surprises. This month also included my wife’s 4-day-vacation with her friends. Let’s take a look at the details.

 

We continued to use EXCEL to track our expenses. No surprises there.

 

I know there are many of you out there who like to have a detailed budget for everything. I don’t think that it is for us. Our ultimate goal is to make sure we don’t waste our money on things we don’t need or things that don’t add value to our lives. That is it.

 

So where did the money go in May?

Certainly not the vacation. As I mentioned in one of my previous blog posts, we took up on a new hobby. We slowly started signing up/churning credit cards in order to get sign up bonuses. We are planning on using those bonuses to travel more in the coming months. My wife’s vacation this month was one of those occasions which allowed us to use her travel credits and/or bonuses accumulated previously. So, the total cost was pretty much zero other than a few restaurant bills.

 

Here’s how last month’s expenses broke down:

 

Mortgage & Monthly Bills: As I mentioned in our previous expense report, after going back and forth about staying for another year and selling the house this summer we finally decided to stay for another year. That means we will have more time to get the house ready to sell. But we will also continue to make mortgage payments for another year. Even though the interest rate is very very low it is still a debt and it definitely has its psychological effects on me. 🙂

Monthly Sub Total Expense Entry Amount
2,341.44 Mortgage Payment – includes taxes & interest 1883.98
Utilities – Heating/Cooling/Water/Trash/Recycle etc… 156.70
Cell Phone Service 213.27
Internet & Netflix 87.49

 

Work/Job Related Items: This section includes union dues, parking and pension payments. They all will go away when we retire from work. Numbers are the same as previous month. My pension payments are pretax. But I am not sure if my union dues are. I think starting next month I will remove the pretax expenses. I will only keep track of my after-tax expenses.

Monthly Sub Total Expense Entry Amount
454.38 Work related expenses 454.38

 

Vehicles [2]: No surprises and additional payments this month.

Monthly Sub Total Expense Entry Amount
188.78 Gasoline 188.78

 

Health Care & Life Insurance: Almost identical with last month’s numbers. And don’t ask about the life insurance. 🙂

Monthly Sub Total Expense Entry Amount
434.34 Life Insurance 74.86
Health Insurance [Family] 344.50
Pharmacy 14.98

 

Personal Items: Just a few necessary personal items were bought from Amazon.

Monthly Sub Total Expense Entry Amount
59.23 Personal Items 59.23

 

Groceries & Household Items: I would like to keep this number close to $600 every single month. This month was better than the last one. But we are still not at $600.

Monthly Sub Total Expense Entry Amount
687.51 Groceries & Household Items 687.51

 

Dining Out & Entertainment: This section includes dinners, lunches, coffee shops (we love our coffee in this household), movies, games etc…

Monthly Sub Total Expense Entry Amount
409.25 Dining Out & Entertainment 409.25

 

House & Home Improvement: Finally, this month, we started to get the things done around the house. We will keep spending to get the house ready for the next summer. This month’s expenses included a new sump pump and landscaping/lawn care services.

Monthly Sub Total Expense Entry Amount
380.00 Miscellaneous items & services 380.00

 

School/Education: This section includes items like lunch money, school supplies, fees for classes, tuition etc..

Monthly Sub Total Expense Entry Amount
30.00 Lunch money, school fees, etc… 30.00

 

Miscellaneous: Anything and everything doesn’t belong to other groups like fees for taxes, annual membership fees etc…

Monthly Sub Total Expense Entry Amount
202.28 Miscellaneous items & services 202.28

 

So this month’s total came down to $5187.21. Not so bad when we compare this number to previous months. Next month should be a bit higher since we will have to pay for our house and car insurances.

 

So do you budget or keep track of your spending? If you do how did you do last month?

 

Any suggestions and comments are welcome!

3 thoughts on “Our Family’s Expenses: May 2017

  1. I always find that household items or buying meat is what drives my grocery budget out of bounds. I like how you separate dining out with entertainment. I may need to utilize my breakdown that way. Thank you for the idea.

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