March is finally over which means it's that time of month again, spending report time! My total spending for the month of march came in at $2,326.27. While I failed to meet my goal of spending less than $2,200 this month I still feel like it was a major success. My average monthly spending for the last six months has dropped down to $2,315. Compared to last month's six month average I dropped a total of $90. My spending can be broken down as follows:
This month contained another massive energy bill ($292) which is really disappointing because I kept my house a chilly 61 degrees Fahrenheit all month. The month also contained an unusual bill of $400 when I bought a new smartphone/plan with Republic Wireless. So far the service has been excellent and I absolutely love having a smart phone finally. This plan drops my future monthly phone expenditure by ~$40.
Finally, I found out this month that the bank has accepted my offer on a house for short sale. While this will cause me to have a huge spending bill in May (Closings costs, etc.) this should lower my monthly spending by ~$200 not including the equity that will build in the house. The total home cost is $140,000 at an interest rate of 4%. It should also provide savings on the energy bill (home built in 2005 with great insulation vs the 1905 house I am renting now) and it is within walking distance of my work so my commute costs won't change at all. Once the dust settles I expect to lower my monthly spending significantly meaning more money for investments! Thanks for reading!
How did you do this March?
Hey Dividendasaur,
ReplyDeleteYou've had a busy month by the sounds of things then. It's good to see that you've managed to keep your monthly spend pretty close to your goal of $2200 considering your energy bill and smart phone bill.
I was one of the last of my friends to get a smart phone, and although it was more expensive than a regular mobile, I definitely haven't regretted the decision. They are very useful, and when used to their advantage, can save you money as well. Enjoy!
Exciting news about the new home! Me and my fiancé were renting an old house (built in 70's) and the insulation on it was poor, our energy bills weren't great during this time. Back in 2009, we moved into a house which was built in 2002, and the difference was huge. Our house manages to keep cool in the summer heat, but it retains it's heat so well in the winter. The heaters only need to be on for 15-20 mins and the house is warm! Having a newer home will save you several costs in the long run as everything is in good condition already. We were constantly updating things that were breaking in our old house.
It sounds like you're really on top of things, and like you said, once the dust has settled with the move, you'll be enjoying your new home and the savings that will come with it. Good luck with all my friend!
All the best
Huw
Hi Huw,
DeleteIt was an extremely busy month, I felt like I was going 100% the entire time with no time outs. One of the first things that I checked in the new house was the insulation. I am so tired of paying massive heating bills, it will be nice to own a place where I have more control and can fix up/change things how I want. I already found some places in the house where I will beef up the insulation. I look forward to weatherizing the whole place and making it a challenge to see just how low I can get the bills next winter. Thank you for stopping in!
Dividendasaur,
ReplyDeleteCongrats on your offer being accepted. And even better that it's going to save you on monthly outlays, plus utilities, and it will allow you to walk to work. Sounds like a win-win!
Glad to hear you like Republic so far. I'm happy with Aio so far, but I'm open to switching to Republic at some point in the future, especially since they have the cheaper G on the way.
Keep up the good work!
Best wishes.
Good to see you Jason!
DeleteI have really evaluated this house as an investment, and as far as I can tell I am coming out ahead. That extra ~200 dollars a month that it will save just in rent/mortgage alone equals a whole heck of a lot of dividends.
So far I really like Republic but I will probably give the service at least one more month of review before I will fully recommend them. It is nice to see that they are starting to offer a more frugal phone alternatives though.
Thank you, it's always good to hear from you.
Take care!
Congrats on the pending closing on the house! I'm sure it will be great to be close enough to work while building equity in a house of your own.
ReplyDeleteHey there W2R!
DeleteThank you I am extremely excited to finally have a place of my own. I already have a million small projects in mind that I want to take on, hopefully I can come up with some upgrades that will save me money in the long run. I love being able to walk/bike to work easily, being able to save the money and the environment were huge considerations when I was home shopping. The equity is another huge benefit that should accelerate gains in net worth. Thank you for stopping in!
Congrats on the house. That's awesome man. Saving money and having your place is win win. And walking distance to work to boot. You definitely can't beat that.
ReplyDeleteRichie,
DeleteThank you! I can't wait to move in and have a place of my own. The fact that it saves so much money/time on top of everything else makes it that much sweeter. Thanks for popping in, good to hear from you.