April 2015 Expenses
We present to you our first monthly report on all our spending. After our last financial update, we decided to track our expenses more granularly and regularly, we also challenged ourselves to reduce our spending. Let’s see how we did.
|Mortgage||$1,793||Mortgage: Principal and Interest|
|Travel||$52||$40 for Airbnb accommodations for an upcoming trip
$12 in fees related to travel rewards credit cards we are playing with
|Health & Fitness||$272||Dentist and Doctor visit: Everyone and all teeth are healthy|
|Groceries||$193||Impressive if I say so myself!|
|Restaurants & Take-Out||$29||$25 – Eating out once with a friend
$4 – Take Out: used Munchery promotion to enjoy a couple of almost-free meals
|Transportation||$10||Just gas. Better in the car than in us.. drumroll please|
|Pets||$0||They didn’t eat.. just kidding|
|Bills & Utilities||$136||$9 Electricity (random rebate reduced our bill)
|Heir Care||$34||$24 – New to us baby carrier and some larger clothes from consignment sale; planning for the new few months of growth
$10 – replacement cloth diaper fasteners after our free one broke
|Shopping||$16||$10 Allergy season Kleenex refill
$3 Vegetables for garden because we never got around to starting from seed
$2 Random broom and Cookies!!!!
|Total||~$2,535||An almost $2000 / month improvement from our average over the beginning of the year|
|Spending Minus Mortgage
||~$742||This represents our variable spending for the month|
We are quite happy with our expenses for the month. We had an 80% savings rate (85% if you count mortgage principal as savings). Two categories that were much lower than previously are Travel and Groceries: this month we did not do any traveling and instead enjoyed the beautiful weather at home (we spent the time making progress on our garden). Grocery expenses were low due to our efforts to clean out our pantry and freezer.
Looking ahead, we have a 10 day trip planned at the end of May and we will most likely need to do a Costco run to replenish our pantry inventory, so we’ll probably see increases in the future.
Tracking our expenses monthly and with more granularity has been beneficial to us. We will continue to review our expenses monthly to assess where we can make improvements (e.g. no more cookies).
The other main thing to note is that we didn’t reduce our expenses by sacrificing or giving anything up. We’re still spending where it counts and what aligns with our values (except maybe the cookies), and are having a blast while doing it and can’t find the time to do everything we’d like to do. Overall I’d say it’s a win-win.