12 months expenses

I wrote this back in july and just found out now that I didn’t publish it. It is old news but still relevant.

I have had YNAB for 12 months now! I absolutely love YNAB for my budgeting and financial tracking software. It blows away spreadsheets, Quicken, and mint out of the water in the amazingness category. My wife even preaches to other people now how much it has improved our marriage and finances and how it would improve others.

I want to share with you our monthly spending. This is mostly for my benefit so I can learn from you. Please know that my posting this here is not bragging, nor is it being ok with mediocre poor spending. I am simply trying to be humble, transparent, and learn from you by sharing this with you. I also hope that you might learn something as well.

I am wanting to show you 12 of financial reporting but most people think about personal finances and spending in a monthly terms so I am going to break it down into average monthly $ amounts.

Income: Our average monthly total income from July 1, 2012 to June 30, 2013 is $5,721.92 Our income is an interesting thing because much of it goes directly back to car repairs, gas. to debt and interest expense, also much of it is a draw from the business which may or may not have actually been income. We are working on fixing the business part of it.  I will discuss those details more below but you need to know that before you can understand our income figure. Also our income tax returns are part of the “income” as well. Our income in this 12 month period included Postal Service, Purely Poultry, Charter Communications, “other income”, and donating plasma at Biolife Plasma services.

Charter avg mo income $1,083.29. Ruth worked at Charter until basically January 3rd, 2013. So she made 2x that amount but for 6 of the months. This is partially counterbalanced by the fact that she drove an hour each way to work and had tremendous transportation expenses accordingly.

Post Office Income: avg mo income $1819.21 I worked the Post Office a lot in these 12 months. I work the post office every Saturday. I also work sick days and vacation days for my regular carrier. One thing as a rural carrier is that I get paid $0.72 per mile for driving but I am not exactly sure if it pays enough for that or not considering the below car expenses. It is a sweet $19.64 an hour though! Another note, the job is paid a flat 8.8 hours per day of delivering the mail regardless of how long it takes me. Almost the entire year I was working 10-11 hour days. Also I worked 6 days a week every week. Week days were usually at Purely Poultry with frequent post office days.

Purely Poultry income: avg monthly $1,460.58 This is partially counter balanced by the avg monthly $448.50 amount we put into the business in October 2012. The amount drawn was $0 monthly in 2012. When Ruth quit Charter in January 2013 we started taking monthly draws.

Other Income: $1356.59 This includes mostly 2 large tax returns. Yep that’s right we received our 2011 tax return in October 2012. But at least we got our 2013 one in April 2013! Go Ruth! It also includes receiving money from my parents for the shared cell phone plan. Thankfully as of January I no longer have that! Also in January 2013 Ruth and I both started donating plasma 2x a week almost every week. Right now I can’t donate because I am sick but normally it is $50-60 per week per person. The plasma money is not shown in YNAB and is not part of the income or expenses that we show. It is money that Ruth and I are individually able to spend on whatever we chose.

Transportation: $1,279.77 This was largely due to Ruth working an hour away for 6 months and me working the post office delivering mail. $530.22 on Gas. $368.57 on car repairs, $90.23 on Car Insurance. $12.50 on car license, $278.25 on Car Replacement. I bought a 1999 Ford Taurus with 90,000 miles on it in September 2012. We also own a 1999 Ford Escort with 216,000 miles on it.

Debt $1,266.71 I call this my stupid tax category. I will be out of debt soon and will never go in debt again. $668.31 for business debts at stupid high interest rates which will be paid off in 2014. $448.50 we invested into Purely Poultry because in 2012 it needed the cash. $149.90 for student loans which consist of $18,964.93 which I plan to pay off in 2015.

Giving: Average monthly $104.58 I want this to be minimum 10% of income as soon as possible. Right now that is not realistic or feasible considering other expenses. One thought I might consider doing 10% after you take out the debt and transportation costs out of monthly income since those two categories are such a substantial part of my spending.

Food: Avg monthly $343.70. We break this down into $49.35 for restaurants, $280.38 for groceries. Date $13.98 Some of our restaurant and date actual expenses are paid for by plasma $ not reflected here. In 2012 we did utilize the food pantry to help us. In 2013 we have not been going to the food pantry regularly because we were wanting me to lose weight and wanted fresh fruits and vegetables, and basically no food from cans. Also we wanted white meat not red meat. In later summer 2013 we will have a tremendous amount of fresh vegetables from our own garden.

Personal category: $1,127.29 This is kind of a miscelaneous category. It includes $345.18 for child care, $103.30 for Life and disability and Identity theft insurance. $216.85 for cell phone (now lower because we are at the amazing Ting.com that I brag about so often and also lowered now that I don’t have my parents and brother on my plan.) Vacation $73.83 Household