May Savings

I can’t believe how time flies.  I meant to post sooner, I really did, but things got crazy.  I started school, and I still have a rental disaster and I started my remodel and my grandparents have been needing assistance and suddenly it’s June!  I will get better at posting, I promise!

May has ended and wow, did it go by quickly! My expenses were all goofed up this month because I had a massive tuition bill come due and spent a few days traveling for work.  But, let’s see how I did in my regular spending categories!

Groceries: -$9.39
Eating out: $29.35
Gas: -$26.52
Natural gas: $2.11
Electric: $0.77
Mortgage overpayment: $50
Remodel Loan: $237.50

My total savings for May is a measly $283.82.  Over nine months I have saved $3,816.96 of regular spending and put that toward my medical bills.

I overspent a little on groceries with a trip on the last day of the month where I purchased  some snacks and some items we have been enjoying a lot of lately.  There was also a great deal on laundry detergent where I was able to get it for $3.75 for a bottle and I bought another bottle of that even though I didn’t need it (I have more than enough detergent to last another year now).  I was going to have a super low spend month in eating out but then I bought dinner for everyone working a late night a rental and that food was well worth it.  Gas spending was a little higher than I expected due to 330 miles of work driving, which is nearly a full tank of gas.  I also bought gas for the tractor for a few months which I normally do not do.

My net worth increased by $6,925.52 for a total increase of $19,601.  I see that number and it’s honestly a little shocking to me.  I had set a goal earlier of increasing my net worth by $50,000 this year and if I can have another good month like I did in May (maybe?) then I could potentially reach my goal.  I have outperformed my projections the last few months but I’m still projecting a shortfall of about $1,500 at year end.  The big question will be whether I can keep my remodelling budget under control this summer to keep those numbers going upward.

And perhaps, most wonderfully on this journey, I have reached a tiny milestone where, if I were to stop today, I can withdraw $300 a month from my investment accounts using the 4% safe withdrawal rate.  It isn’t much, but it’s a number I am relieved to see, considering how bumpy the road has been for the last year.

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About His Polish Princess

I'm an engineer by day and an entrepreneur by night. I live with my Old Man, and our cat, Junior. Okay, so the cat is mine, not ours. I have some old fashioned opinions and I believe the unlikely can be achieved with hard work and a little bit of luck. I like cars and motorcycles and remodeling houses and taking risks. I love my family and my community in Small Town, USA. I believe life is one grand adventure that should be lived and thoroughly enjoyed. In 2013 I was diagnosed with an autoimmune disease and focused on natural healing. Fortunately, my disease has been in remission since 2014. In 2015 I was diagnosed with Hodgkin's Lymphoma. These things are just a road bump in life. They won't stop me from remodeling or buying houses or starting new ventures. Life is all about how you see it.
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