Our Family’s Expenses: June 2017

This month’s expense report has a small change in what gets reported and includes a few big items like home and auto insurance premiums. We also decided to remove a few job related pre-tax items since they won’t be part of our post retirement expenses. 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 June?

This month’s big items were our mortgage, home and auto insurance payments. Even though we do have about $50K or so left to pay it off we have chosen not to pay it off in order to invest. Our current mortgage rate is 2.625%. I know some probably prefers to pay it off and have piece of mind, especially now, when the stock market is at all-time highs.

 

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

 

Mortgage & Monthly Bills: I cannot wait for the day we have no mortgage and property tax payments. Paying $6000 a year for property taxes doesn’t seem right.

Monthly Sub Total Expense Entry Amount
2,341.44 Mortgage Payment – includes taxes & interest 1883.98
Home Owner’s Insurance – Yearly 1157.71
Utilities – Heating/Cooling/Water/Trash/Recycle etc… 235.81
Cell Phone Service 213.27
Internet & Netflix 77.14

 

Vehicles [2]: Car insurance premium was due this month.

Monthly Sub Total Expense Entry Amount
1444.57 Semi-yearly Car Insurance Premium 1272.62
Parking 50.00
Gasoline 81.95
Repairs 40.00

 

Health Care & Life Insurance: No surprises here.

Monthly Sub Total Expense Entry Amount
419.36 Life Insurance 74.86
Health Insurance [Family] 344.50

 

Personal Items: Just a few necessary items for personal and house use.

Monthly Sub Total Expense Entry Amount
153.85 Personal Items 153.85

 

Groceries & Household Items: I kept saying I wanted to keep this number close to $600 every single month. But we could never come close to it before. This month was I think the first month ever we kept the spending under $600.

Monthly Sub Total Expense Entry Amount
568.48 Groceries & Household Items 568.48

 

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

Monthly Sub Total Expense Entry Amount
186.53 Dining Out & Entertainment 186.53

 

Miscellaneous: Anything and everything doesn’t belong to other groups like fees for taxes, annual membership fees etc… There were a few graduation parties this month.

Monthly Sub Total Expense Entry Amount
540.00 Miscellaneous items & services 540.00

 

So this month’s total came down to $6880.70. Not so bad after paying for our house and car insurance premiums.

 

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!

Leave a Reply