Month 8 FIRE Report – May 2019

Welcome to the Month 8 FIRE Report!

If you just wandered in from  who knows where, this report tracks my monthly efforts towards achieving FIRE – Financial Independence, Retire Early.

So far, I’ve been keeping it simple. Savings, extra income, debt repayment, and expenses. Sometime soon, I hope to add charts and graphs and other fancy analytics measuring my progress to FIRE on some kind of nifty timeline. For now, you get what you get. Which is what I can pull together in the span of my lunch break.

Stats for Month 8

Saved: $325. Not great….but par for the course during our debt repayment extravaganza.

Extra Income from Side Hustles: $35. Eyeroll. When will I get my act together? That’s still to be determined.

Debt Repayment: $3172. A pretty decent month. June is pretty tight because I decided to pay my entire home insurance policy up front to get cash back on my credit card (the only way), so this debt repayment will go down next month.

Expenses for May

Expense $ Amount Relevant Notes of Notey-ness
Mortgage & Property Tax 1368
Interest & Bank Fees 44
Child Care 360
Parking 115
Auto Insurance 95
Electric 256
TV, Home Phone, Internet 158
Life Insurance 156
Netflix 14
Mobile Phones 95
Home Insurance 184 Will go down in June when i pay for the full year up front!
Groceries & Home Supplies 1091 Ouchie. I counted groceries purchased on vacation which were slightly indulgent.
Fuel 239 Low due to vacation gas going into the vacation category.
Medical, Eye care, Dental 26
Auto repair/maintenance/registration 165 Good month. includes $98 registration renewal.
Vacation 1084 Not bad. Went slightly over budget for the trip.
Home Improvement, Maintenance 59 Propane for the BBQ, and a new hose. Gotta review those summertime expected expenses once again in advance for next year!
Education 5 Books for M.
Health & Fitness, Sports 104 Bicycle repair, Healthy eating program dues.
Gifts & Holiday Expenses 35 Flowers for my Mom <3
Clothing 10 Socks. I was desperate!
Charitable Donations 10
Memberships, subscriptions 144 Roadside Assistance. I plan to track down less expensive options for this!
UNKNOWN EXPENSE 181 I think some of this is groceries. Need to keep better track of Hubs spending. If only I could get him to save his receipts OR enter transactions. Sigh.
Fun Money! (Includes allowances) 604 A bit high; a chunk of this is my allowance which went into my savings for future investing.
Total Expenses 6602.66

Overall, I’m really happy with the month, considering we spent over 1k on vacation. June won’t be under the 6k goal due to the large home insurance payment, but this will be offset by future months with no home insurance payment, so I’m not going to freak out about it.

Priorities for June

  • KEEP ATTACKING EXPENSES! Don’t get lazy about meal planning and prepping, because that can significantly lower costs! Try to stick to the budget as much as possible! Follow up on those minor money-saving wins that will save me month over month.
  • Get rid of excess stuff. Sell items where possible.
  • Continue to discuss with Hubs to keep FIRE top of mind.
  • Focus on educating myself further on the best ways to achieve this goal. Read, absorb, take notes, and take action!

Have a great month y’all!

2 Replies to “Month 8 FIRE Report – May 2019”

    1. Oooh good question. I will try to track this closely! The best would be to track produce costs specifically against the CSA cost. Too bad I didn’t do this last year.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: