I failed! I was only able to save 69% of my after tax income in the month of February instead of the goal of the low 70's. I contribute this mainly to a destination wedding that I had to go to, which was completely worth it, but in the end it turned out to be an expensive weekend.
So here's the break down on income and expenses:
Expenses:
Transportation - 17.24% (plane, tolls, and taxis)
Charity - 3.89%
Education - 0.12%
Insurance - 5.43%
Home - 7.29%
Mortgage - 29.98% (FML-better than being homeless though)
Gas - 8.87%
Personal - 1.77%
Eating out 4.88% (better than in months past)
TV\Internet - 3.73%
Phone - 4.39 (looking seriously at switching to T-mobile)
Utilities - 5.08%
Food - 7.34% (grocery store)
Income:
Rental - 35.58%
Salary - 64.42%
Investment - No dividends this month
Businesses - Haven't started any yet, but I'm going to draw up a business plan in March
Transportation expense was abnormally high due to the wedding, but most other expenses and income look fairly normal. March is going to be a big problem as well since a number of the wedding costs occurred then as well. I'm going to have to go on a cash freeze for the rest of the month to make up for it if I want to make my numbers. I really need to focus and come in somewhere in the mid 70's range to make up for this month.
The other thing was that February was a short month so the expense category was even lower than any other months. I really need a 5 pay day month, but that's not going to happen until May. I'm also dealing with a water leakage situation at a rental. According to the adjuster, that could be an $800 or an $8,000 expense UGH!
So here's the break down on income and expenses:
Expenses:
Transportation - 17.24% (plane, tolls, and taxis)
Charity - 3.89%
Education - 0.12%
Insurance - 5.43%
Home - 7.29%
Mortgage - 29.98% (FML-better than being homeless though)
Gas - 8.87%
Personal - 1.77%
Eating out 4.88% (better than in months past)
TV\Internet - 3.73%
Phone - 4.39 (looking seriously at switching to T-mobile)
Utilities - 5.08%
Food - 7.34% (grocery store)
Income:
Rental - 35.58%
Salary - 64.42%
Investment - No dividends this month
Businesses - Haven't started any yet, but I'm going to draw up a business plan in March
Transportation expense was abnormally high due to the wedding, but most other expenses and income look fairly normal. March is going to be a big problem as well since a number of the wedding costs occurred then as well. I'm going to have to go on a cash freeze for the rest of the month to make up for it if I want to make my numbers. I really need to focus and come in somewhere in the mid 70's range to make up for this month.
The other thing was that February was a short month so the expense category was even lower than any other months. I really need a 5 pay day month, but that's not going to happen until May. I'm also dealing with a water leakage situation at a rental. According to the adjuster, that could be an $800 or an $8,000 expense UGH!
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