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20 Jul 2013

Monthly Spending and Budget Report-June 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.

I spent a few months renovating one duplex. It took long because we it is not available to let anyway for another few months. Last month (May) we managed to live on 21% of our income. We hit a small ditch in June with 52% of income in expenditure. We are still smiling from ear to ear for having paid up our last mortgage.

Our June 2013 monthly spending and budget report:

INCOME JUN'13 MAY'13 NOTES
Real Estate33% 9% Target is 25%, GREAT .
Personal Income 46% 86% We are working on growing other income streams to bring this lower.
Interest/ Dividends 2% 1% Our emergency fund interest.
Online Income 19% 5%
Other 0% 0%
Interest on my Emergency Fund is 4.65%, which is below the inflation rate.

SPENDING JUN MAY NOTES
Real Estate 34% 10% Still due to renovations.
Transportation 0% 0%
Online 0% 0%
Internet/ Phones 1% 1%
Consumer 4% 4% Includes food
Credit Card, Cash & Fees 0% 2%
Giving 7% 3% This should be at around 10-12%. It will even out during the scholarship payment months.
Life Insurance 1% 1% Fixed
Invested 48% 79% We paid most of it into the stocks. I no longer top my Just Invest (Nedbank) savings up.
We lived on just above 50% of our income in June (comparing to 20% in May). Our Net Worth impressively well.

TRACKING 2013 GOAL PROGRESS
  1. MAIN GOAL: net worth growth by at least 25%.-- 23% so far.
  2. BUDGETING: invest at least 40% of income.-- 50.8% 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 .-- DONE.
  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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