Our Family’s Expenses: August 2017

Welcome to our family’s August expense report. End of summer, back to school, more cars, more entertainment meant more expenses for us. Final number number ended up being $14,267.87.

 

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 August?

Surprisingly, this month’s big items were NOT our mortgage and utilities. Buying two additional cars and paying for junior college tuition & high school registration fees were the items drove our numbers high. Since we have now four drivers in the house and we all needed cars to get to school and/or work we needed additional cars to make our lives a bit easier. In addition to that, we also needed to have additional license plates to give us the ability to buy and sells cars if the opportunity is there. I am sure there will be a few posts on this in the future.

 

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

 

Mortgage & Monthly Bills: Our mortgage payment is still here and, yes, I still hate the fact that I have to pay $6000 a year for property taxes.

Monthly Sub Total Expense Entry Amount
2,508.46 Mortgage Payment – includes taxes & interest 1883.98
Utilities – Heating/Cooling/Water/Trash/Recycle etc… 322.67
Cell Phone Service 213.27
Internet & Netflix 88.54

 

Transportation & Auto Related [4 Vehicles]: We ended up adding two additional cars to our fleet. 🙂 The reason(s)? One reason was our oldest coming back home for this year and taking his sophomore classes at a local junior college. Since he didn’t have a car on campus during his freshman year when he came back home at the end of the summer he needed a car to get around. Second reason was to look into buying cars to see if there is an opportunity to make additional income by flipping them.

Monthly Sub Total Expense Entry Amount
5999.91 Parking 60.00
Gasoline 207.84
Two cars including sales taxes 5080.00
New License plates & Registrations for the two new cars 392.00
Car Insurance Premium Adjustment 125.66
Repairs 66.27
Oil Changes 68.14

 

Health Care & Life Insurance: No surprises here.

Monthly Sub Total Expense Entry Amount
503.90 Life Insurance 74.86
Health Insurance [Family] 344.50
Pharmacy 84.54

 

Personal Items: From shoes to Chromebook, everybody needed something this month.

Monthly Sub Total Expense Entry Amount
408.79 Personal Items 408.79

 

Groceries & Household Items: Well, our grocery spending is slightly up this month. Having another teenager home full-time is the cause of it. Surprisingly, it wasn’t a big jump. But, again, wait until you see this month’s entertainment expenses.

Monthly Sub Total Expense Entry Amount
707.86 Groceries & Household Items 707.86

 

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

Monthly Sub Total Expense Entry Amount
914.97 Dining Out, Entertainment & Travel 914.97

 

House & Home Improvement: We didn’t do much to the house this month.

Monthly Sub Total Expense Entry Amount
7.79 Light fixture 7.79

 

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

Monthly Sub Total Expense Entry Amount
3188.32 Tuition, Registration Fees, Books & Misc Items 3188.32

 

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

Monthly Sub Total Expense Entry Amount
27.87 Miscellaneous items & services 27.87

 

So this month’s total came down to $14,267.87. Looking at the numbers, it doesn’t seems like we are doing a good job at budgeting.

 

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!

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