It is that time of the month again, time to report spending for the month of February. Spending for the month came in at a grand total of $1,863.29. This meets my goal to spend $2,200 or less every month, and brings my six month average spending down to $2405.13. Overall my spending for the month was a huge success and hopefully I can continue to decrease this average each month. I have some big plans for the near future that could greatly lower this monthly spending so stay tuned! My spending can be broken down as follows:
Compared to my January Spending Report I was able to lower costs in the Bills and Utilities ( $-123.08) and Food and Dining ($-68.60), my Auto & Transport, and Entertainment categories grew slightly but overall I spent $368.04 less this month then last. I have been extremely busy with work this month (60+ hrs/wk) which really keeps my entertainment spending low. If my plans work out (they never do as intended) I will be able to lower this total by approximately $414 more each month by June. All the more money to invest and grow the portfolio! By continuously auditing my spending each month I am constantly able to find ways to improve.
Nice job! Lowering those expenses will certainly help you accelerate your investing!
ReplyDeleteW2R,
DeleteI have found that for me it is significantly easier to cut the flow of money out than to increase the flow of money in. Hopefully I can divert some of that outlet flow back into the inlet and speed up this entire process a little bit. Thank you for stopping in and I hope everything is well with you.
Great job. I just started following your blog. good luck to you.
ReplyDeleteFFdividend,
DeleteThank you so much for stopping in, I am happy to share this journey with you!
That's awesome that your spending came in $350 under your target goal. Mine wasn't as much of a success for February but I'm slowly getting it back down to better levels. My base expenses have seen the biggest increase since ~October because that's when all of the new house bills started coming, but the good thing is that the variable expenses haven't really changed much. Keep up the good work!
ReplyDeletePIP,
DeleteIt took some hard work but I was ecstatic with the results. I can definitely do better on my good spending/phone bill/housing costs. I am about to make an offer on my first home, and I am a little bit worried about upcoming unforeseen costs but hopefully I will come out ahead overall. Thank you sir and you keep up the good work as well!
Dividendasuar,
ReplyDeleteGreat job this month! Your spending was very close to my own.
And I think tracking it every single month is the way to go. It gives you complete control over your spending, as you know exactly where every penny is going.
Where exactly do you plan on cutting so aggressively?
Best wishes!
Dividendasaur,
DeleteAhh, it must be the housing. I figured it out now. :)
Good luck. Hope it goes through!
Best regards.