January Expenses

This is a monthly post where I break down the nitty gritty of our expenses, so you can see where our money goes each month.   I’ll also share a chart of of the progress on our mortgage, tax deferred investments, and and taxable investments. These charts don’t include numbers, but they will show trends as the months go by and more data points are added.

We track our finances using Personal Capital.  Personal Capital has an easy to use system and interface that allows us to monitor our net worth and track where our money is going.  I highly recommend giving it a try.

A few notes:  We pay our garbage and water bills quarterly.  These bills are lumped in under utilities, so you’ll occasionally see a spike in those numbers.  We also pay our car insurance twice a year, so that payment won’t show up monthly.  We use credit cards for most of these expenses, to take advantage of the offers credit cards give you.  While I think credit cards are a great way to get a little something back for money you would be spending anyways, there is a huge caveat that you need to pay those bills off in their entirety each month.  If you can’t do that, don’t use them! 

Have any other questions about our finances?  Feel free to get in touch and ask!

January Expenses 

January was a great month for our finances!  Expenses were low and the market went crazy.  Most of our expenses were pretty routine this month, except for buying a years worth of medication for our fur baby.  It’s expensive, but have you Googled heartworm or ticks on a dog? 100% worth every penny to keep her healthy.  

Our grocery bill was on the high side this month, my goal is to keep this around $300 for a typical month.   We hosted a group of friends, which pushed the grocery bill up a little bit.  A fun time was had by all, so it was definitely another worthwhile expense.

As mentioned above, some of our utilities are paid quarterly.  This month we only had to pay for gas and electricity, which are both billed monthly.  

The chart below graphs the progress we’re making in our taxable accounts, tax advantaged accounts, and our mortgage.  Thanks to January’s roaring bull market, both our investment accounts ticked up nicely.  Since we do in fact pay our mortgage, that line will continue trending down.  The lines only have two data points right now, I’m excited to watch this graph evolve over the year.  

 

How did your January go?

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