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23 May 2013

Monthly Spending and Budget Report-April 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 to help me (and hubby) to retire comfortably in our early 40s.

How hectic the renovations of one rental unit kept us. I couldn't escape to sneak more posts. The costs of the renovations reflect in our April expenditure and will hit hard on our May one again. We lived on an impressive 40% of our income in March. We stuck below our target budget of 60% spending and 40% investing. This month took us above 100% spending. I wish it was a joke.

Our April 2013 monthly spending and budget report:

INCOME APR'13 MAR'13 NOTES
Real Estate37
17%
Target is 25% .
Personal Income 56% 82% We are working on growing other income streams to bring this lower and thus diversify risk.
Interest/ Dividends 6% 1% Our emergency fund interest and dividends were good.
Online Income 0% 0% Next month.
Other 0% 0%
Interest on my Emergency Fund is 4.65%, which is below the inflation rate. I took some money to the stocks in January. If the Governor and the Reserve Bank cut rates, I will be very sad.

SPENDING APR MAR NOTES
Real Estate 32% 10% Renovations.
Transportation 0% 0% Paid mostly with cash left over from last month.
Online 4% 2% Freelancers paid
Internet/ Phones 1% 1%
Consumer 6% 10% Includes food
Credit Card, Cash & Fees 1% 7% We used the Mr's credit card and paid it off over 50 days spread.
Giving 3% 3% This should be at around 10-12%. It will even out during the scholarship payment months.
Life Insurance 1% 1% Fixed
Invested 51% 61% We didn't pay more into our homeloan like we usually do. This is only automated unit trusts and a small amount on the stocks. I no longer top my Just Invest (Nedbank) savings up.
We lived on just below 134% of our income in April (comparing to 40% in March). Our Net Worth grew by a tiny margin. For which I am grateful.

TRACKING 2013 GOAL PROGRESS
  1. MAIN GOAL: net worth growth by at least 25%.-- 12% so far.
  2. BUDGETING: invest at least 40% of income.-- 73% so far.  
  3. EMERGENCY FUND: 3 months worth of living expenses.-- DONE.
  4. GIVING: give of more than 10% of income.--5% 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.-- +/-R3700 April.

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