Category Archives: Budget

Double-Edged Sword

I'm excited to close out June and post our numbers. Even with the market fluctuations, we have made some good headway.Unfortunately, July looks like it will be a very weak month for our net worth. We went so far over budget in June that we will have to use money that would have been deposited into savings in July to cover our June expenses. We also used a $1,000 reimbursement check from my company to get my Roth funded a bit earlier. If the business charges post to the credit card next month, we'll Read more [...]

April 2007 Income Statement

We went way over budget again. Darn it!To our credit, it was not because we spent frivolously. There were numerous one-time, annual, and prepayment expenditures that brought our total expenses for April to $7,581.50 (click on spreadsheet below).On the positive side, my wife netted an extra $1,147.24 in commissions, we had $127.55 in “other” income (see spreadsheet notes), and our interest income doubled to $11.08.May is forcasted to be a lighter month for us expense wise. If nothing unforseen Read more [...]

Stong Financial Foundation

Simple ideas for a strong financial foundation:Live below your meansI believe this is one of the most important steps to a strong financial foundation and, for me, one of the hardest. If you try to keep up with your rich looking friends and associates, you may end up like most of them: lots of nice stuff, but a low net worth. Every dollar that you save is worth more than an extra dollar earned because the extra dollar earned is taxed.Start an emergency fundJob loss, health issues, and expenisve repairs Read more [...]

March 2007 Income Statement

We had a great net worth increase in March, but did a poor job staying within our budget. We were sadly over budget $775.68 in March (click on spreadsheet below).A lot of non-monthly bills hit in March, such as both cars needing servicing, buying a baby shower gift, enrolling wife in new insurance program, and a mini vacation. That's not a good excuse though because we also went over budget for some of our standard monthly bills.Time to take back some ground by coming in under budget next month!Stay Read more [...]

Above Average Income, Above Average Expenses

My wife and I make a combined $109,350 per annum (not including her commission pay). Not more than some, but certainly above average. The tough part though is that we have a very high monthly burn rate - spending close to 90% of our net income each month. I’ve included our monthly budget below (click on spreadsheet).*Note: This budget does not include our investments/savings.We spend over 2 times more per month than some couples we know. Granted, most of our friends rent instead of own and condo Read more [...]