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

BHAG UPDATE - SEPT '14

2/10/2014

0 Comments

 
Picture
September was a pretty crappy month over all for the BHAG.  It was due in large part not from over spending, but from a reduction of income.  I may or may not have told you that I had to evict a renter and the property went unrented for a month.  This costed me a good chunk of change since it's the only one that I still have a mortgage on and it's also the highest rental property I have.  These things happen and I'm hopefully going to sign somebody soon. Regardless I was able to still save 57% of my take home income.  Here's how the numbers broke down.  

Expenses: 
Entertainment - 2.41%
Transportation - 1.96%
Charity - 3.51%
Dog - 1.48%
Education - 0.28%
Insurance - 5.14%
Home - 5.82%
Mortgage - 23.92: 
Gas - 4.82%
Eating out - 7.25%
Medical - 27.48%
TV/Internet - 2.99%
Food - 5.04%
Utilities - 5.35%
Phone - 2.56%
 
Income: 
Real Estate - 19.14%
Investment - 9.16%
Salary - 71.7%

As you can see the real estate income took a hit this month.  With it I would have saved 66% instead of my income.  Better, but not up to my goal.  Property taxes get paid next month so when those start to get spread out over 12 months it's going to knock off another 10% each month.  With that and the increase in health insurance it's going to be really really tough to live off of 30% of take home pay.  I would essentially have to cut all forms of entertainment and eating out.  Most everything else is a necessity, but I'll have to do my best to try and minimize them.  This'll be interesting... 
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.