Financial tip of the day.com - FREEDOM THROUGH FINANCE
Social Sites
  • Financial Tip Of The Day
  • Books
  • Websites
  • Contact Us
  • Disclosure

BHAG UPDATE FOR APRIL! 

1/5/2014

0 Comments

 
Picture
April was not up to standard.  I was only able to save 68% of my after tax paycheck income for all income combined.  This is below my BHAG goal of being in the low 70's.  Not bad when you consider I had some extraneous expenses like a big chunk for an umbrella policy that will last a year.  I also had a to pay taxes.  That wretched bitch that comes around not just each week, but also every April 15th!  Now that I have a mortgage again where I should be able to itemize my deductions and write off my mortgage interest expense, I want to actually get money back last year.  I figured that I actually paid more in sales, property, and federal taxes last year than I did for all of my basic necessities: utilities, clothes, transportation, housing, food, insurance, and phone.  It gets better.  Not only did I pay more, but I also paid 45% more than those costs!  That's fucking crazy!  So I paid 45% more to protect the stuff than that stuff actually costs.  

Anyway that's enough of me ranting.  Here are the numbers...

Income
Salary: 62.12%
Investments: 1.8%
Real Estate: 36.08%  

Expenses
Food: 2.81%
Transportation: 7.1%
Charity: 6.97%
Entertainment: 1.94%
Insurance: 10.43%
Home: 7.64%
Mortgage: 35.2%
Gas: 6.36%
Personal: 0.82%
Eating out: 3.77%
TV/Internet: 3.73%
Phone: 3.02%
Utilities: 4.48%
Dog: 1.27%
Travel: 4.48%

As you can see insurance is unusually high because of the umbrella policy that I bought.  I was however, able to lower my phone bill by $20 a month which after a year should equate to about 2 months worth of utilities saved.  I'd like to reduce it by another $20 soon by changing carriers.  Not to sound like a broken record, but as always my mortgage is an extreme part of my monthly expenses.  Not because I have too much house (although you could certainly make that argument), but rather that my other expenses are so low.  It sticks out like a sore thumb.  

May should be a good month unless something bad happens.  I get paid 5 times instead of 4 and I should also hopefully be able to pay off another mortgage.  I've been working tirelessly to get this one done.  It's become an obsession!  The next one however won't be paid off for another 4 years and that's if everything goes as planned.  
0 Comments



Leave a Reply.

    Author

    This website was created due to the atrociously misguided financial advice that I've heard over the decades.  Financial freedom is not intellectually strenuous, but it takes discipline. 

    RSS Feed

    Categories

    All
    BHAG UPDATE
    College Savings
    College Savings
    Credit
    Economics
    Estate Planning
    Estate Planning
    Financial Planning
    Financial Planning
    Insurance
    Investing
    INVESTMENT JOURNAL
    Mistakes
    Net Worth Update
    Retirement
    Tax
    Thrift

    Archives

    August 2017
    May 2017
    April 2017
    February 2017
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    January 2011

Powered by Create your own unique website with customizable templates.