Like I mentioned last month, the costs of the renovations reflect in May expenditure. We lived above 100% of our income in April. Yes, we had a shortage. The bulk of our money went to the renovations. Meaning, its an investment rather than consumption. We are back on track with 21% expenditure. We had to squeeze ourselves to pay up the mortgage off course. Its been a tough year.
Our May 2013 monthly spending and budget report:
| INCOME | MAY'13 | APR'13 | NOTES |
| Real Estate | 9% | 37% |
Target is 25% . |
| Personal Income | 86% | 56% | We are working on growing other income streams to bring this lower. |
| Interest/ Dividends | 1% | 6% | Our emergency fund interest. |
| Online Income | 5% | 0% | |
| Other | 0% | 0% |
| SPENDING | MAY | APR | NOTES |
| Real Estate | 10% | 10% | Still due to renovations. |
| Transportation | 0% | 0% | |
| Online | 0% | 4% | |
| Internet/ Phones | 1% | 1% | |
| Consumer | 4% | 6% | Includes food |
| Credit Card, Cash & Fees | 2% | 1% | |
| 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 | 79% | 51% | We paid most of it into our homeloan. I no longer top my Just Invest (Nedbank) savings up. |
TRACKING 2013 GOAL PROGRESS
- MAIN GOAL: net worth growth by at least 25%.-- 16% so far.
- BUDGETING: invest at least 40% of income.-- 48% so far.
- EMERGENCY FUND: 3 months worth of living expenses.-- DONE.
- GIVING: give of more than 10% of income.--5% so far.
- REAL ESTATE: Construct at least 4 flats/ increase the rental income by 30% .-- not yet.
- MORTGAGE: Pay up our home .-- not yet.
- STOCKS AND DIVIDENDS: Get at least R12,000 in dividends.-- not yet.
- EXTRA INCOME: Online income to R8000 per month by December 2013.-- +/-R3700 April.
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