June 2008 Spending Report
Here it is. My first edition of the monthly spending report. I also plan on posting the balance sheet, financial ratios, and statement of networth, but I am still working on putting those together so hopefully in the next few days I’ll have something up. I’m trying to figure the best/simplest way to present all of the data.
June 2008 Spending Report
At first glance you might be wondering why we are able to keep the monthly bills and house cost so low. Let me explain. We are currently living with family so we have been fortunate enough not to have rent/utilities expenses. However, we are currently looking to purchase our first home so that should be changing in the next few months. It has been nice to be able to save up a little that we can put towards a down payment. Here are a few highlights for the month of June.
Savings
We originally we going to try and save 30% of our income this month, but because of the vacation we took we weren’t able to save quite as much as we wanted but we were glad to see it stay above 20%. We are going to shoot for keeping the savings above 15% each month. That includes everything from 401(k) and 529 savings to emergency fund and down payment savings….we are saving for quite a few different things right now.
Miscellaneous
The miscellaneous category kind of took over this month. Normally we try to keep as much out of misc. as possible so we are better able to analyze our month spending, but with our vacation we took we didn’t have anywhere else to put it. It’s only about once a year that we go on a big 1-2 week family vacation so next month should be a lot better. We also had to register our cars and get oil changes.
Charity
As you can see we were able to give just over 10% of our income to charity. We have a goal to keep this percentage over 10% each month. We have felt so blessed and feel that this is the least we can do to help those less fortunate.
Gas
Surprisingly we were able to keep our gas cost rather low this month. Normally it is up around 10% or 15%, but it looks like we must have planned it just perfect for our fillups….yeah, we filled up both cars today (july 1st)….July might have a little bigger bill than normal.
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