July 2023 Expense Report

As usual, it is time for another expense report. This time for July 2023.

Expenses

Housing1352
Utilities393
Groceries323
Discretionary63
Other370
Total2,500

Housing

Housing was $1,352. Nothing much to say this month.

Utilities

My utilities for the month were about $393. This is the last month I have the $90 deposit for my utilities, it was also a higher bill from the city. I expect this to be lower for the next few months until it starts to cool off.

Not turning on my AC has become a point of pride after the brutal days we got near the end of July. I think I’ll be able to make it to the fall without turning it on. 

Groceries

My groceries were about $324. I barely went over this month, I’m going to try and cut back a bit meal-wise next month. I’m thinking I’ll do a bean dish and a rice dish at least once and we’ll see for the other two, maybe another pasta salad or some other warm-weather dish. I also might see if there’s a cheaper fruit I could be bringing for lunch than the apples I have been getting.

Discretionary

My discretionary expenses were about $63. One of my old roommates is getting married in December. I will put some cash aside for that. Including travel costs, I’m guesstimating it will cost me about $300-$400 for travel and a gift and all that. We’ll see how much of this discretionary fund will be available to cover this.

My goal fund currently has $95.

Other

My other expenses were about 370. Some other things needed to be done to my car after I took a look. This was a little higher than expected.

Total

In total, I spent about $2,500. That’s quite a bit over my goal of $2,100. However, if you remove the costs of the car it drops down pretty close to my goal. I’ll have to see about cutting a bit more in other areas to see what I can do. But if it wasn’t easy to get to that goal, it wouldn’t be a good one.

Income

My income for the month was about 6,800. The table below shows the sources of that income. Currently, I do not include investment income in that total.

There was a bonus for my group for this month that won’t be there next month. Also, this was the first month with the new raise. Nothing too exciting overall.

SourceAmount ($)
Take-home4445
Retirement2342
Total6787

Account balances

Account TypeAmount
Cash16,000
Taxable76,000
Retirement55,000
Total147,000

The graph below tracks my change in net worth since I started tracking it in January 2023.

It is still trending up and to the right. That’s what I like to see. Overall, nothing that pops out at me for this month.

Savings Rate

This month, my savings rate was: 62.4%. A little lower than the numbers that I shoot for. I’m still shooting for 66%.

My average savings rate Year to Date is 63.1%.

Much like the net worth graph, the graph below tracks my monthly savings rate. This is to help me track long-term trends regarding my savings.

Still bouncing all over the place and below my goal average savings rate, but not too bad overall.

Goal Updates

GoalTermTypeProgress
Expand Emergency FundShortOne time100
Workout 5 days a weekShortContinuousOn Track
Repair ForgeMediumOne time25
Enroll in a Spanish CourseMediumOne time0
Reduce Spending in a CategoryMediumAnnual75
Repair 3D PrintersMediumOne timeOn hold
Expand Potted GardenMediumOne time100
Net worth 150,000LongOne Time98
Learn Spanish Verb ConjugationLongOne time30
Set New Workout GoalsLongAnnualOn Track
Reach FILongerContinuous9.8
Expand Engineering SkillsLongerContinuousOn Track
Obtain some Degree of Fluency in SpanishLongerContinuousOn Track
Maintain Retirement ContributionsLongerContinuousOn Track
Increase Savings RateLongerContinuousN/A
Expand workout RegimeLongerOne TimeOn Track

I’m getting close to my net worth goal and the year is barely half over. I wasn’t sure what to set it to for this year, I’m thinking I’ll have to be more ambitious next year. Of course, we’ll have to see when the time comes.

The cardio side of working out has been rather hard recently. Smoke has been visible on quite a few mornings so I’m not getting as many steps as I would like.

Otherwise, I’d say most of the goals I set for this month are moving along fine.

That’s it for this month. I’ll see you all next month.

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