Our Family’s Expenses: October 2017

For some reason, it felt like the whole month of October went by too fast. Nonetheless, it is over and it is time for another expense report. Good news is we didn’t face any unexpected expenses in the month of October. The total number was relatively low compared to some of the previous months. Let’s hope that we can keep it this way for the coming months.

 

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 that we don’t waste our money on things we don’t need or things don’t add value to our lives. That is it.

 

So where did the money go in October?

This month’s big items were, as usual, our mortgage and utilities. I keep saying I cannot wait to get rid of our mortgage payments. But our current mortgage rate is 2.625%. It doesn’t make any sense to get rid of it. Even though we do have about $40K+ left to pay it off we have chosen not to pay it off in order to invest. Some probably prefers to pay it off and have piece of mind, especially now, when the stock market is at all-time highs. But, as I mentioned before, I wanted to have some money available to buy and sell things on Ebay, LetGo and Craigslist this holiday season. Well, I spent a few thousand dollars and bought some items to sell. We will see how it will turn out. Just an FYI, I keep track of that money separately.

 

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
2,385.63 Mortgage Payment – includes taxes & interest 1883.98
Utilities – Heating/Cooling/Water/Trash/Recycle etc… 198.44
Cell Phone Service 213.27
Internet & Netflix 89.94

 

Transportation & Auto Related [4 Vehicles]: No additional payments other than the registration fee for one of the cars we own.

Monthly Sub Total Expense Entry Amount
449.60 Parking 60.00
Gasoline 288.60
Registration Fee 101.00

 

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: No surprises here.

Monthly Sub Total Expense Entry Amount
28.85 Personal Items 28.85

 

Groceries & Household Items: Once again, we couldn’t manage to keep the spending under $600. May be the $600 goal is not very realistic for our family.

Monthly Sub Total Expense Entry Amount
743.17 Groceries & Household Items 743.17

 

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

Monthly Sub Total Expense Entry Amount
354.19 Dining Out, Entertainment & Travel 354.19

 

House & Home Improvement: We didn’t do much to the house this month. I believe we won’t be able to do anything to the house number of months due to a family circumstance.

Monthly Sub Total Expense Entry Amount
87.48 Sprinkler System & House Maintenance 87.48

 

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
93.05 Wedding Gifts & Fundraiser Items 93.05

 

So this month’s total came down to $4501.69. Not so bad when we compare this number to previous months.

 

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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