Our Budget – January

Total Income: $4,480.63


Mortgage – $1013.66

Electric – $211.69

Car Insurance – $166.58

Water – $44.67

Weekly Misc. Cash – $1900

Health Care – $205.60

Next Car Fund – $197.01

Phones – $75

Internet – $80.98

Entertainment – $15.98

Student Loan – $84.79

Traditional IRA – $220.00

Bridge Fund – $165.00

Total – $4382.06

Net – $98.57

We do not track every expense to the penny.  At the beginning of each week I go through the ATM and withdraw $380.  That is then split between my wife and I.  This cash is to go towards any small purchase throughout the week.  Any money left over is then put back toward future expenses, such as vacations, presents or unexpected expenses.  This results in a very steady monthly budget.  As money saved during the less eventful months is counted as spent and put toward the more expensive months.  The goal for the net on each month’s budget is zero.

This month’s expenses were higher than normal.  Our electric bill is highest in January through March thanks to our wonderful heat pump.  We also had over $200 worth of medical bills we paid on.  The biggest hit was the fact we had 5 Mondays this month.  Each Monday we withdraw $380 for the weeks expenses, and we get paid on Thursday and Friday.  So this month had 5 weekly withdrawals, but only 4 paychecks.

Even with the higher expenses, we were able to save back $582.01 toward our next car/traditional IRA/Bridge Fund on top of our 401K contributions and rental income.  Next month will have lower expenses and similar income, so I’m excited to see what kind of damage we can get done.


Rental Property:

Income – $700

Mortgage – $414.23

Net Cash Flow – $285.77

Our income was diminished by a small expense this month.  We still were able to bank $285.77 and pay down the mortgage by $79.80.  For a net profit of $365.57 for the month.  Slow and steady.

Retirement Contribution:

My Simple Plan – $1,350.92

Mrs. Bluegrass Dividend 401K – $1,000.00

Total – $2350.92


Even with higher than normal expenses, we were able to save $3,021.69.  Our total income was $7,117.32, giving us a savings rate of 42.46%

Savings Rate: 42.46%

December: 52.69%

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