February 2017 FrugalMaster Results

Nothing much out of the ordinary here the Dividend Family Guy household except for saving 45% of my income.  I still plan on saving more once my son gets a job this summer and pays for his car insurance.  On top of that I will be dropping TV as soon as my contact expires in the summer.  Worst case I will get sling TV for the family at $20/month but I hope to convince them hobbies are better.

Until then I will keep on saving as much as I can because in April I will be able to contribute to my 401k.  Once that starts I have 9 months to sock away 18K to max it out (and to collect the employer match).  They have yet to show me what funds are available but I am hoping for some low cost index fund choices.

The only change this month was further simplification of my categories.  To simplify things (and match up to default categories in Mint), I combined groceries and eating out into one budget.  So for the month I was $89 over which is from additional purchases to create a month supply of food in my basement.

I am already forecasting next month will be very similar.  Once you have your costs under control it is much easier to predict cash flow you can then use to pay down debt (mortgage) or invest.  I don't expect any major expenses until our big vacation in July.

Having consistent savings is definitely freeing up my time (and stress) so that I can focus on my kids other interesting things.

I still need to write about my purchases for the month and will get those out soon.

Happy investing,

Dividend Family Guy

Comments

  1. Buy, Hold LongMarch 16, 2017 at 9:18 PM

    Being consistent is always a positive thing. You should be able to keep contributing towards your investments and increase your total income for many years to come. Well done.

    ReplyDelete
    Replies
    1. Dividend Family GuyMarch 21, 2017 at 7:25 AM

      Consistency is key but even more important is starting early. Now I have to play catch up ;-)

      Delete
  2. UnknownMarch 19, 2017 at 1:57 PM

    So true, controlling expenses is a great way to either invest or pay down debts like mortgages. Congrats for having this under control.

    ReplyDelete
    Replies
    1. Dividend Family GuyMarch 21, 2017 at 7:26 AM

      Thanks Hunting. It does feel better having some flexibility in your life in the finance department.

      Delete
  3. Mr. RobotMarch 21, 2017 at 10:54 AM

    Nice savings rate! Having control of your finances also increases the peace and quiet in your mind which is worth a lot!

    ReplyDelete
  4. Divi CentsApril 6, 2017 at 1:11 PM

    I single income for 7 WOW!

    I'm a single income for 5 and boy is it tough some months!

    Congratulations on 45% saving rate. That is crazy good.

    ReplyDelete
  5. Dividend Family GuyApril 9, 2017 at 7:58 AM

    That it sure does. However it was quickly filled with all the other cool things I want to do in life!

    ReplyDelete

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