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13 Mar 2013

Monthly Spending and Budget Report-February 2013

To those new in this blog, This is my personal finance journal where I track my monthly spending. My goal for 2013 is to spend 60% and invest 40% of our income in order for me (and hubby) to retire comfortably in our early 40s.

Do you remember how we lived on 38% of our income in January and thought it cant possibly get any better? It did. Its an artificial jump due to the income I received for my tiny online business.

Our February 2013 monthly spending and budget report:

Real Estate 13%
This is nicely toned down. I love it. 25% wouldn't be bad.
Personal Income 72% 82% This is a new category.
Interest/ Dividends 1% 1% Our emergency fund has been reduced. Interest will be low. But we expect dividends to fill the gap..
Online Income 14% 0.3% I will get three months worth this month. I received a fat cheque and deposited it in January.It takes about 6 weeks to be cleared, I was told.
Other 0% 0%
One thing that makes me unhappy is that the interest on my Emergency Fund is 4.65%, which is below the inflation rate. I took some money to the stocks in January.

Real Estate 7% 13% Wish this would stay his low a contribution to total income.
Transportation 1% 1% We live closer to Mr's work and I hardly ever drive.
Online 1% 0% Laptop was fixed
Internet/ Phones 1% 0.4%
Consumer 3% 10% Mainly food and clothing
Credit Card, Cash & Fees 4% 6% We used the Mr's credit card and paid it off over 50 days spread.
Giving 2% 10% This should be at around 10-12%. It will even out during the scholarship payment months.
Life Insurance 1% 1% Fixed
Net Income (Left to Invest) 80% 62% We paid most of it to our homeloan and some to top my stocks. Our debt-free days are fast approaching. I no longer top my Just Invest (Nedbank) interest up.
We lived on 20% of our income in February (comparing to 38% in January). Our Net Worth grew so so well again. This growth is from various sources. The unit trusts did quite well and so did the general JSE. I wish we would do this well throughout the year to be sure to hit our goal of R1M net worth growth by year end.

  1. MAIN GOAL: net worth growth by at least 25%.-- 7% so far.
  2. BUDGETING: invest at least 40% of income.-- 71% so far.  
  3. EMERGENCY FUND: 3 months worth of living expenses.-- DONE.
  4. GIVING: give of more than 10% of income.--6% so far.
  5. REAL ESTATE: Construct at least 4 flats/ increase the rental income by 30% .-- not yet.
  6. MORTGAGE: Pay up our home .-- not yet.
  7. STOCKS AND DIVIDENDS: Get at least R12,000 in dividends.-- not yet.
  8. EXTRA INCOME: Online income to R8000 per month by December 2013.-- +/-R3500 January.


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