July 2008 Spending Report
By looking at the break down of our July spending it is pretty evident that we had a good month 
. I guess it helps when rent is only 4% of your monthly income.
Here are a few of the highlights of July…
Rent
We were able to find a great little apartment that is a perfect fit for our family right now as we try to find a place to live. We are hoping the real estate market begins to settle out so we can find ourselves a good deal on our first home, but in the mean time we’ll be able to save quite a bit with such a low rent payment. I’m tempted to stay here until we can pay 100% for a home, but I don’t think that is going to fly with the wife.
Taxes
All I can say is WOW!! I’ve never really noticed how much we are paying in taxes until this month where it was 20%+ of our income. I now have a glimpse of what it will feel like when I get into the top tax bracket. That’s when tax planning will be very important. I think the main reason for such high taxes was because I got a nice bonus at work. I have actually adjusted my W-4 now so that this won’t happen again.
Savings
41% was incredible. If we could do that each month, I don’t think we’ll have much of a problem hitting our goal of 1.5 million by 35, but as we settle into our new routine over the next couple of month’s we’ll get a better feel of what we can really save each month. Once again, the majority of that savings came from the bonus. All-in-all great month.
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