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Wednesday, July 9, 2014

Spending and savings rate Summary for June 2014

**note to NSA/IRS snoops: This information is estimated and/or hypothetical. Final official documents submitted (tax related or other) supersede anything posted here. **

This is my spending breakdown for the month of June. I am planning on posting it here every month, mostly just for personal accountability.

Just a note, I purposefully relaxed my spending quite a bit for this month, especially with food. I finally was done with all payment obligations from my business ventures that didn't work out, and because of that I wanted to relax a little bit and not stress as much about money for a few weeks before redoubling my efforts.

So needless to say, my savings rate was shitty, but hilariously still better than the national average, even with what felt to me like uncontrollable spending. So as I taper back into frugal mode we'll see how well I can do.

Business expenses include some domain renewal, hosting, and po box renewal. This is much
 higher than the monthly average as most of these expenses only occur once or twice a year.

Car Insurance: I just recently called an adjusted my insurance and managed to lower it by 10 or 15%

Chickens: Yes I have chickens! I only have to buy feed every couple of months, so there are zero costs for this month. I could technically deduct the value of the eggs I get and make their net cost even lowe, but I haven't been doing that.

Clothing: I started a new job and bought 3 pairs of dress pants on sale at Men's Warehouse.

Entertainment: These were costs related to hosting a 4th of July freedom fest party

Food: This is just groceries and does not include eating out at restaurants. As I said my food spending was very high this month. I do eat pretty strictly paleo though which is more expensive, but I still aim for long term food costs of 250 for groceries AND restaurant spending, if there is any. Obviously I went WAY over that this month.

Gifts: Bought gifts for a friend and my girlfriend for their respective birthdays.

Health Insurance: This is the health insurance I had from being self-employed. As I become an official full time worker at my new job I should be eligible for insurance that will be around half this cost hopefully.

Internet: Normally internet cost is around 62 bucks, which I split with my girlfriend. But this month we needed a new modem AND router, so that drove the cost up.

Loans: This is obviously the most dastardly expense on here. This includes student loans and expenses I racked up from the business. I am aiming to have all business related expenses paid off by the end of the year hopefully, which will only leave the student loans. That will drop this expense to around 180 a month.

Misc Spending: Headphones for use at work, a big batch of vitamins, and a few other small things.

Mongo: This is my big fat-headed dog. His cost was just his food this month.

Other expenses are mostly self-explanatory.

Total spending: $2769.29
Total Income:   $3120.82
Total Savings:  $351.53
Savings Rate: 11.26%

So my savings rate was awful, but I expected that this month. It is wild to me that it is still higher than the national average though.

I am going to bring that number WAY up in the future, so stay tuned!

-Double E

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