Monday, October 31, 2011

10/31 Monthly Financial Breakdown

Well, another month has passed and this means I need to do a financial breakdown.

Previous Monthly Financial Breakdown post here

If I sum up total expenses from 10/1 through 10/31 I get -$944
A rough calculation would put my yearly expenses at $11,328 just over :(
lets take a closer look.

Food costs: -$273 or -$68 per week (includes a dinner for visiting relatives and a lunch for a sailboat captain)
Regular Fuel: -$204 or -$50 per week (includes  the two trips to do sailing class and day sail)
Leftover Renting Expenses: -$0 (HAHAHAHAHAHAHAHA)
Van: -$32 (includes: sink water pump)
Insurance: -$50 per month   (I pay in 6mo intervals to reduce the premium but still counted as monthly)
Clothing: +$29 (New golf pants and shirt purchased but I returned the boating shoes so I have a credit)
Fun: -$403 (club day sail was 85 plus 318 for ASA101 class)
Misc:  -$5.38 (can of paint)
Storage:  -$32   (plus a sunk cost of 15 per month for mailbox)

Things that were not necessary this past month: The two dinners cost me $100 plus the extra fuel to go sailing which is approximately a tank of fuel so $40 bucks and the ASA class of $318  bringing my luxury expenses to $458. Almost half of my monthly expenses, Yikes!! Without that my yearly is at $6000... :)

Ok,  clean out the unusual stuff and do a monthly for the rest
Food and fuel: -$350 (I don’t have any long distance driving trips planned for next month)
Storage and box:  -$47
Insurance: -$50 
Clothes: -$100 (smartwool shirt and misc)
Van:  -$100 (still need an oil change but I don't anticipate any large projects for next month, revised down)
Fun: -$200 (number revised upwards, Upcoming Thanksgiving holiday will incur dinner expenses, parking fees, etc...)
Yearly expense estimate with the new numbers: $10164

Good to see a slight decrease but still disturbed by fun expenses

Cannot wait for next month's expense sheet, should be interesting. 

Note: I was able to sell a few items this past month. The remaining pachinko machines, the bed frame, dvd player and air mattress. If I could get rid of the mattress and a few more large items I might be able to reduce my storage unit to a 5x5 and pay less per month (embedded note: just checked prices and it seems that they have gone up since I started renting and I would only save a dollar per month unless I moved to a new location but would only save four dollars per month)

Here is the status of my dividend income:
Since I re-aligned my investment strategy I've been putting extra cash into dividend paying stocks and other investment opportunities. I started out by doing a broad overview of what I had in a previous post and now it is time to put up my progress. Last post it was at 9%.

Previous Monthly Financial Breakdown post here

Current level is now estimated at 16% (pending the actual dividend payments at the end of Q4)

Such slow progress, I might have to sacrifice everything that isn't absolutely necessary to achieve a better increase for next month. At the current rate I would need to put away more then 20 paychecks just to cover basis expenses and I honestly do not know if I have 40 more weeks worth of work in me. I may have to sell off my growth stocks and put it all into the dividend plan.  It is at this point that I regret spending so much on fun activities because I see the real cost in future comfort, that sailing class basically cost me $100 per year in dividend income (using AGNC stock and dividend as a basis).

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