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Another month has passed and it is time again for my monthly Income/Expenses report.
In these reports I highlight what income I made during the month, what sources all of the income came from, and where it all went on the ‘expenses’-side; showing all purchases by category…every dollar! Ideally, when it all is calculated I achieve a high savings rate, and then I post that to my Savings Rate tab for month-by-month tracking of progress.
General thoughts on this month: This was another ‘standard’ month for us. Nothing exciting, nothing extraordinary, but simply discipline and sticking to the budget we’ve created. Unfortunately we are MASSIVELY in debt at the moment thanks to the purchase of our 4th rental property, so I CANNOT WAIT to have all of that paid off. Here are the numbers:
General Thoughts on INCOME:
1) Very little change to Income this month. And we really haven’t pursued any new sources for growth over the last few months and I do not anticipate any major increases (or decreases) in the foreseeable future, so I imagine income will continue to hum along at close to the above amount.
General Thoughts on EXPENSES:
1) Expenses were again pretty reasonable across the board. I had to buy new running shoes, new soccer cleats, and just a few smaller items that couldn’t really be avoided, but overall we kept the budget mostly in check. You’ll notice our two ‘catch all’ categories (Shopping and Everything Else) really were not too high.
We thankfully hit close to 40% for our savings rate. This month’s rate was able to raise our annual average for 2017 to above our goal # 5 amount of 28%/month. I’ve updated my Savings tab that shows every month since Passive Income Dude was launched as well.
Remember – it doesn’t matter how much you make; it is how much you keep!
Thanks for reading!
Dan
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