August 2015 Budget and Savings

Income & Expenses
I just realized today that I did not send this out shortly after I totaled up my dividends.  Time flies when you go to work, rush home help out with the kids, crash into bed and then start it all over again.  I truly enjoyed the few weeks at home after the baby was born.  No rushing around and I spent more time with the kids.  August was when the baby was born so expenses will be going up.  Diapers, baby food, etc plus the additional cost of health insurance for the baby.  I did save up enough to cover my health insurance deductible so that won't cause any further debt.  Income was normal with 2 paychecks.




I was over budget in 5 categories this month which caused me to go over my overall budget by $200.  Guild Free Spending Monday was $90 over as the kids and I dined out several times while my wife was in the hospital and we visiting with her.  Added to that was my zoo membership.  For a mere $80 I get unlimited visits to the zoo for the family.  We go several times a year so it easily pays for itself.

The second category over was childcare.  School clothes and supplies continued to pile up despite our best efforts to reuse and buy low.  On top of that was some diapers.  The best thing out of the month was stocking up on $10 jeans at Old Navy for the kids (and their future selves).

Surprisingly food was $150 over my generous budget.  I did buy several build food items from Amazon in an effort to save in the long run.  That combined with my food shopping cycle just added up for the month.

The fourth was household items.  We needed some new towels as the old ones were falling apart after 5 years of use.  I also took a trip to Lowes and purchased some trim and paint to fix up our master bath.  I had big plans to get it done in August before the baby was born.  The baby came a week early so this project is on hold for some time.

Last was personal care which includes toothpaste, shampoo, soap and other items I care not to talk about that women need.  The kids and I also got haircuts which adds up quick even though it is $13 a cut.  It all adds up quick and I ran $77 over budget there.

Savings & Summary




It has been a good year so far and I have continued that in August with a 15% savings rate.  Even though I was over budget in a few categories I still managed to save a decent amount of after tax income.  This extra income I can now use to purchase dividend producing stocks that will grow their dividends over time.  This will ensure the income keeps up or exceeds inflation.  That extra income will then be used to purchase more stocks and continue to increase my income.

Some of that savings was from one of my loan payments being returned to me.  Not sure why yet and I am following up with the bank.  By my calculations I had several more years to go on the loan.

Happy saving,
DFG

Comments

  1. Financial VelociraptorSeptember 28, 2015 at 3:03 PM

    Keep at it. I think you can get your rate up to 20%!

    ReplyDelete
    Replies
    1. Dividend Family GuySeptember 29, 2015 at 12:44 PM

      I know I can. It should be consistent now but still working out how much a baby will add to my budget.
      Thanks for the encouragement FV!
      DFG

      Delete
  2. HenrySeptember 28, 2015 at 8:14 PM

    Great use of outlook office on the blog! It looks great. 15% savings rate is better than the average. So you're good.

    ReplyDelete
    Replies
    1. Dividend Family GuySeptember 29, 2015 at 12:48 PM

      Thanks Henry. The MS Office products are the best I think (and I am a shareholder). I would like to save more (401k) plus at least 20% per month. If I can get there I think that is a good beginning.
      DFG

      Delete
  3. DividendnicheOctober 11, 2015 at 2:49 PM

    Hi DFG,

    Congrats on the safe arrival of baby! Well done on the savings rate and I look forward to following your journey.

    Cheers,
    Dividendniche

    ReplyDelete
    Replies
    1. Dividend Family GuyOctober 14, 2015 at 1:45 PM

      Thanks on both counts Dividendniche. I will have to check out your story as well.
      DFG

      Delete

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This webpage is provided for general information only and nothing contained in the material constitutes a recommendation for the purchase or sale of any security. If you have any questions please feel free to contact me at dividendfamilyguy at gmail dot com.