Tuesday, January 3, 2012

12/31 - Monthly Financial Breakdown

Well, another month has passed and this means I need to do a financial breakdown. Ugh, the holidays are expensive, I am almost afraid to look at the numbers. Some modifications to the breakdown to better suit my spending patterns

Previous Monthly Financial Breakdown post here

If I sum up total expenses from 12/1 through 12/31 I get -$1455*
A rough calculation would put my yearly expenses at $17,460. :(
lets take a closer look.

Regular Food costs: -$62 or -$15 per week (Low due to holiday travel)
Fun Food Costs:  -$126 or -$32 per week (High due to holiday travel and also no cooking abilities for another week)
Fuel: -$182 or -$45 per week (includes a trip and driving around Denver)
Leftover Renting Expenses: -$0 (Nothing to speak of here but keeping category just in-case)
Van: -$14 (installation tool for propane valve and filling up the tank)
Insurance: -$50 per month   (I pay in 6mo intervals to reduce the premium but still counted as monthly)
Clothing: -$0 (Nothing new in December, I did receive new clothes as gifts including some more smartwool socks and an awesome knitted red merino wool hat)
Misc: -$100 (Purchased new guitar strings and picks and camera stuff)
Storage:  -$32   (plus a sunk cost of 15 per month for mailbox)
Gifts: -$372 (half of this is the cost of a 2TB external hard drive to back up parents computer)
*Insurance: -$500 (I paid for a year's worth of insurance on the Mini, cheaper to have it on my father's plan)

Things that were not necessary this past month: Most of this past month's unnecessary expenses are related to holiday travel, fun food and fuel., and gifts.  The guitar strings and camera accessories were also unnecessary. The gifts and insurance killed me this month at $873. The fun food expenses were all eating out with friends, so $126. This brings my luxury expenses to $1000 and necessary to $456 Yikes!! Without the luxury, my yearly is at $5472... :)

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 other than to the airport for my Ski Trip flight)
Storage and box:  -$47
Insurance: -$50 
Clothes: -$100 (Assuming another smartwool shirt and misc)
Van:  -$50 (I don't anticipate any large projects for next month, revised down)
Fun: -$400 (number significantly revised upwards, Upcoming Ski Trip will incur dinner expenses, parking fees, etc...)
Yearly expense estimate with the new numbers: $11964

Unhappy to see an increase over my 11k mark and still disturbed by fun expenses. The gifts are what killed this month's budget. Yes, the fun food was high but not as bad as I thought.

I dread next month's expense sheet, should be interesting and depressing to see exactly what a Ski Trip costs. 

Note:Gave away a few items; Vacuum pump that I never used.

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 11.8% (Still pending the actual dividend payments at the end of Q4)

Progress at a snail's pace, I've bumped up my emergency fund and am holding a paycheck to cover the ski trip expenses, this was easy as December has three paychecks in it. My plan for January and the rest of the year is to push hard on dividend stocks and trim expenses. I also want to find additional employment for weekends. Such slow progress, the market has not been very favorable to me either. Currently in the red on almost everything I own but am still optimistic for 2012.

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