Time is slipping by so fast. It is August already and I always feel that the 2nd half of the year tends to slip on by. Term 3 is a busy time at work and the calendar is looking hectic!
But right now, it’s time for July’s Financial Report.
A few things to note:
- July was the term holidays. At least it was for the first two weeks, and that usually means more money is spent purely because I actually have that bit more spare time to go and run errands. I was really worried about this, actually!
- We had a visitor. In-line with our usual method of madness, all eating bills for our visitor is taken care of by us. She didn’t stay long, but 2 days still meant more meals than we would normally have.
- Mr BKLA went for a MRI, we started counselling (we are trying to have a child but it’s not going so well on that front, so our GP wanted us to do counselling first to rule out any mental health issues. The good news is that our therapist doesn’t think we need counselling, the bad news is that it took 3 sessions to figure that out. The other bad news is that she thinks we need fertility treatment instead.
Okay, enough talk let’s get into it!
|Savings||43%||44%||1%||The dollar amount for this was actually lower, but the percentage is higher!|
|Mortgage||20%||24%||4%||3 mortgage payments were made this month. Technically I only had to make 1.
But extra payments are good for your mortgage!
& Eating Out
|6%||6%||0%||Right, I am impressed. The dollar sum was higher due to paying for our visitor
but as an overall picture, we didn’t use any more than usual, hooray!
|Insurances||5%||2%||3%||This is a false drop. I say that because the direct debit for OnePath fell on the
last day of June and first day of August, July lucked out.
|Investments||1%||8%||7%||This was a pleasant surprise! I didn’t realise just how big a difference
the little bit I’ve been siphoning off to Ratesetter, Acorns and Brickx had made.
|In Dollar Amounts (Couple)|
|Eating Out||$320.66||$368.66||– $48|
|Grand total||$2109.9||$2685.64||– $575.7|
I’m still very much learning and trying to figure out how I want these monthly reports to look. I think I tweak it a little bit every month to hopefully enhance the report and make it more accurate. In fact, I actually found an error in last month’s figures while doing this, but have identified the issue so hopefully moving forward, that will all be fixed.
This month’s income was again inflated. This time by my tax return and also banking in the money from my side hustles. If I can find a way to inflate my income every month by 2k or so, I’d be a happy camper!
- I did the maths. Between groceries and eating out, if we divided it all up by 2 meals a day, we spent an average of $8.70 per person, per meal. This isn’t horrible, but isn’t great either. We implemented a few rules to do with groceries and eating out this month tho because it was implemented midway through the month, the impact doesn’t really reflect within the expense report. Namely, we meal plan every single meal now and only buy groceries that we need (not want, we both love the grocery store too much.) and we are only allowing ourselves one ‘eat-out’ meal a week. Unfortunately eating out is important for us. We adore skillful and smart cooking by chefs and are keen to do our part to support the local food industry and economy. The thought, love and care that goes into meals is something we appreciate immensely, so always choose our restaurants carefully and with much thought. Takeaway is not our thing. At least not in the neighbourhood fish and chip shop/ chicken / kebab / random shop type of takeaway anyways. And living in Adelaide, there is very much a “if you want this business to stick around, then you best support it” undercurrent.
- The increase of our joint expenditure by $575.70 is a bit of a blow, but I can’t say I didn’t expect it between the counselling sessions, the MRI, Mr BKLA’s meds (he’s been sick and was sick for 2 out of 4 weeks of July) and also school holidays. We have one more counselling session (the last of the 3 I mentioned) before we say goodbye to this counsellor so that expenditure will hopefully go down. (Reading back on my June report, I realised I mentioned he was sick last month too. Different illnesses that weren’t related, just sheer bad luck!)
Last month: $2345.91
This month: $599.84
Even tho joint expenditure went up, I was able to increase my savings rate due to my personal expenditure bill dropping. Really it should be dearer than that due to the life insurance bill skipping July conveniently, but let’s just roll with it.
Oh and that not-carpal-tunnel? I went to see a remedial massage therapist (which accounts for some of my personal expenditures) and my god, it was definitely not carpal tunnel. Instead, it was a lot of very, very, very stressed out muscles in my wrist, forearm, upper arm and shoulder. Which have been in distress since Oct last year, so no wonder I was in agony. After an hour of muscle manipulation and massages, I came out very sore but the pain in my fingers and wrist have significantly diminished. It’s not completely gone, I will still need to go back to the massage therapist again but I am glad to be paying money for something that works rather than yet another inconclusive test!
We get to see Tiles and pick finishings and fittings this Saturday! Scarily, we decided to bring forward the renos from January to October. So the timeframe for us to save got even smaller. But all is good. I actually have the full amount sitting in the mortgage redraw, but am trying to save up the same amount anyways to avoid actually using the redraw.
I’m not doing too badly on my own savings, and that’s not drawing into my emergency fund either, so I’m pretty pleased with that effort.
Last financial hurrah
I implemented my bucket systems and my financial plan early May. I had $2k in savings at that time. In the last 3 months, I have managed to increase that to $9k. I did a little wiggle when I realised that and am feeling really quite pleased with myself. What in the world have I been doing with myself all this time?! I don’t want to live in regret (though I do regret all the lost potential time for saving and compounding, but trying not to!) so am eagerly looking forward to see what each month brings me.