Income Update - September 2012
September was an okay month for my spending. I let my expenses creep up higher than where I would like but I was still lower than my average for the year so far. My minimum expenses for September ended the month at $1,422.25. This brought my average minimum expenses in 2012 down to $1,528.77. Total expenses for the month was fairly well under control at $1,565.71 although there's still work to be done, mainly on the required expenses front. My average total monthly expenses for 2012 is down to $1,703.91. Thanks to one of my lowest expenditure months on top of my highest monthly dividend total my PRI of $169.13 covered a total of 11.89% of my minimum expenses. My FI at the end of September was $167.21 which would cover 11.74% of Septembers minimum expenses. I was surprised to see that my PRI, which is just dividend and interest income, covered almost 12% of my expenses. That was great to see. I can't wait until I'm averaging at 12% coverage ratio, which based on September is receiving just under $2,000 in annual dividends. I like seeing the teal line at the bottom of the graph get higher and higher every month.
*Minimum Expenses are only the expenses related to rent, utilities, car, food, minimum payment on debt and other necessities. In other words, the required amount of replacement income I would need for financial independence.
*Total Expenses are the total monthly outflow of money.
*Potential Retirement Income is income received from dividends, interest, cash back from credit card purchases and any other source of income not related to my job.
*FI is my liquid assets invested at the 30 year treasury bond yield at the end of each month divided by 12 to get monthly income.
*Minimum Expenses are only the expenses related to rent, utilities, car, food, minimum payment on debt and other necessities. In other words, the required amount of replacement income I would need for financial independence.
*Total Expenses are the total monthly outflow of money.
*Potential Retirement Income is income received from dividends, interest, cash back from credit card purchases and any other source of income not related to my job.
*FI is my liquid assets invested at the 30 year treasury bond yield at the end of each month divided by 12 to get monthly income.
| Category | Amount |
|---|---|
| Paycheck | $5,420.26 |
| Expense Check | $1,847.24 |
| TOTAL | $7,267.50 |
| Category | Budgeted Amount | Actual Amount | Subtotal |
|---|---|---|---|
| Rent | $480.00 | $480.00 | |
| Utilities | $210.00 | $151.93 | |
| Gas | $175.00 | $135.05 | |
| Car Insurance | $80.00 | $80.00 | |
| Groceries | $250.00 | $234.24 | |
| Restaurants | $130.00 | $127.80 | |
| Entertainment | $30.00 | $20.00 | |
| Cell Phone | $75.00 | $75.00 | |
| Other | $49.06 | $49.06 | |
| Miscellaneous | $50.00 | $112.63 | |
| Gifts | $0.00 | $0.00 | |
| EXPENSES SUBTOTAL | $1,465.71 | ||
| SAVINGS | |||
| Trip | $400.00 | $400.00 | |
| Roth IRA | $850.00 | $850.00 | |
| Emergency Fund | $38.44 | $101.79 | |
| Gifts | $50.00 | $50.00 | |
| FI savings | $4,300.00 | $4,300.00 | |
| Car Maint/Repair | $100.00 | $100.00 | |
| SAVINGS SUBTOTAL | $5,801.79 | ||
| TOTAL | $7,267.50 |
Do you use a pre-made spreadsheet for your monthly expenses that seperates it into minimum expenses, etc? If not, mind sharing a link to download yours to use for my own expense-tracking? I use one that I like but it doesn't quite break it down like yours seems to with different graphs and all of that.
ReplyDeleteThanks
I use my own that I created and then kept adding things as I saw fit. I'll try and get it posted so you can download it after I get it cleaned up a bit. I do want to let you know that it's definitely a customized spreadsheet since I built it as I went along. It might be helpful it might not. If you want you can shoot me an email at PassiveIncomePursuit@gmail.com and I can send it to you from there that will probably be the quickest since I'll be a little busy this weekend and the early part of next week.
DeleteThanks for stopping by!