I wish we could have kept our expenses at the same level as last month, but it didn’t happen. We spent a good amount of money in May, but thankfully, we earned much more (click on spreadsheet below).
In addition to our regular saleries, my wife received an “extra” paycheck, a $943.92 commission check, and a $89.10 mileage reimbursement check.
Outside of our jobs, we earned a $50 Chase credit card cash back reward, $25 HSBC credit card reward, and our $1,200 economic stimulus check. Our E*TRADE savings account brought in $14.98 in interest income.
Next month should be a interesting. My wife will be leaving her current job and starting her new career. We’re still not sure of the paycheck timing at her new job so we may end up with a bit less money coming in in June. We also have to pay for our $1019.81 vacation that we took at the end of May.
We did a great job of staying within our budget this month (click on spreadsheet below). In fact, this is the least amount of money we have spent in quite awhile, which is great after last month.
One of the few areas we went over budget was $222.30 in our Entertainment category because we had a couple of nights out with friends celebrating their birthdays. Incomewise, I received a 2.07% raise. My wife earned $466.91 in commissions and $40.80 in reimbursements. We also received a $66.65 cash back reward from our Citi credit card and a $50 gift card to a restaurant from our American Express. We earned interest income of $12.10.
May should be a another great income month. My wife gets 3 paychecks next month (extra one going to savings) and hopefully a ~$700 commission check. We possibly should also receive our $1,200 tax rebate which will be apllied to our Roth IRAs. Our expenses will be a bit higher because we have a week long vacation up the coast planned.
It’s scary sometimes how much we can spend in one month (click on spreadsheet below).
Thank God for the extra money we brought in above our standard income. The largest amount of money was brought in by my Wife’s in the form of a $1,292.50 commission check and a $188.54 mileage reimbursement check. We also received a $384.44 property tax refund, $60 from my parents, and $60 from selling a few things. All of this extra money kept us from spending more than we earned in March.
Needless to say, we went over budget in most areas. Some of the larger expenses were $832.46 for household items (including a new home theater system), $585.67 for groceries, $129.01 for pet care (including pet care while our condo was being worked on), and $166.00 for car registration.
We have vowed to spead less in April. My Wife may get good commission check in April and I have a review that may result in a small raise.
Wow, we went over budget in almost ever category this month (click on spreadsheet below). Income taxes, vaccines for our dog, food/drinks for a party, gifts, carpet cleaning, replacing our entertainment stand, eating out for our birthdays and Valentine’s Day. You name it we did it.
Thankfully, we had some extra income this month. My wife earned a $59.50 commission, I cashed out $1,239.53 of my company vacation, we earned a $25 HSBC credit card reward, and our neighbor paid us $96 for 6 months of internet.
Next month, in addition to our standard monthly income, my wife may earn an extra ~$1,000 commission from her company. This would help us fund our Roth IRAs. Expensewise, we have a large property tax bill due that will ding our savings pretty good.
We did a good job keeping our expenses below our income in January (click on spreadsheet below). If you subtract out our extra $691.00 payment we made to our 2nd mortgage principle, we were more or less within our monthly budget.
I received a 4.5% raise this month and 3 paychecks (1 more than usual). My wife received a $348.98 commission check, but her standard paycheck was slightly reduced because she transitioned from being a 1099 with no taxes taken out of her check, to an employee with taxes automatically deducted. This is good because it saves us the hassle of having to put money aside for income taxes. In other income news, we received a $64.38 Citi credit card cash back reward and $19.00 in interest income on our Emigrant Direct savings account.
Next month is going to be a somewhat typical income month, with my wife and I each receiving two paychecks. However, my wife is expecting a small commission check and I hope to cash out 6 days of vacation time for an extra $1,200 or so.
We spent more than we earned in December. I was wrong last month when I said that we should not have any large annual expenses hit in December. We prepaid 16 months of my gym membership for $828. With the holiday and birthdays, we also spent $148.09 on gifts. Thankfully we spread our Christmas gift spending over a couple of months so it didn’t all hit in one month. I also bought a couple of pairs of work pants, shoes, and a shirt on sales for $166.03. We purchased our first term insurance policies and had to prepay 2 months ($78.86 total).
January should be a better month since I receive an extra paycheck (3 total), I plan to cash out a few vacation days, and I should receive my annual pay raise. Hopefully we can keep our expenses next month below our income.
At first glace, I was disappointed with how much money we seemed to have spent in November (click on spreadsheet below). It was more than last month and more than we earned. In fact, we had to dip into our savings to cover all of the bills. However, $1,296 went to paying for 12 months of our truck and condo insurance, $1,000 went into savings for my wife’s taxes while she is 1099, and $475 went to paying down our 0% interest credit card balance. If you subtract out this $2,771, we weren’t to far over budget.
In addition to our standard income, this month my wife received an extra paycheck (three total) as well as a $491.22 commission check and $182.87 in mileage reimbursements. We also supplemented our income with a $25 HSBC credit card cash back reward and a $50 Chase credit card cash back reward.
Next month should be a standard income month, 2 paychecks for my wife and 2 paychecks for me. My wife may also be receiving a commission check for a few hundred dollars next month which we will deposit into savings.
As I hinted at last month, September was a great income month and a pretty decent month expensewise (click on spreadsheet below).
While my income was pretty boring this month, my wife raked in money from 3 different companies. First, she received a $1,057.94 commission check from her old job (with another $799 commission check from the same company on the way next month). Second, she received a final $1,778.75 check for last 3 weeks with company that just laid her off. And finally, she received a $1,211.54 check from her new company for her first 9 days of work. We were somewhat expecting a ~$700 commission check on a job that my wife referred to her dad’s company, but it will not be sent until next month.
October has the makings of a good month too. My wife is expecting a commission check on a job that she referred to her dad’s company (~$700) and another commission from her old job ($799.09). She may also be receiving a little commission check (<$50) from her new job for some small sales that she had her first month. In terms of expenses, I will be traveling for business for 2 weeks and my wife will be on the road a couple of days as well. With our employers covering all expenses for us when we travel, October could likely be one of our lowest expense months yet.
As I mentioned in my July 2007 Income Statement post, I didn’t expected that we would be able to match the relatively low expense levels of July in August. Well, August, with all of its ups and downs, ended up being a great month in terms of our expenses (click spreadsheet below). We only went over budget ~$300, $716.53 of which was for a new mattress. That puts our August expenses $264.69 lower than our July expenses!
In terms of income, August was a mixed bag. I received an extra paycheck this month, but my wife’s 1st paycheck was only for one week. We were able to earn an extra $104.53 thru credit card cash back rewards and $100.00 thru selling our old mattress. And finally, with our increased savings account balance, we earned $12.14 in interest income, our largest amount yet.
September should be a great month incomewise. My wife is expecting a commission check on a job that she referred to her dad’s company (~$700), a final commission check from her old job ($600-$1,000), a final check from the job that laid her off (~$1920), and her first paycheck from her new job(~$1,075). Hopefully, we can continue keeping our expenses down.