Spending re-cap: April 2019
Our spending re-caps for the months will focus only on our variable spending and include the following categories:
Comparing with previous years:
- Family (includes all the stuff we spend on the kids such as activities anything we buy them and their education savings. Any graphs I may post with include daycare, but the numbers will not)
- Home Expenses (anything we spend on the house for the maintenance, taxes and insurance. I'm not including mortgage payments or interest as that will not be included in our final FI number so I want to be able to track what life costs without that. Keep in mind graphs will include the mortgage, but not in the numbers)
- Transportation (all car related expenses such as gas, maintenance, insurance)
- Utilities (heat, water, electricity, Internet, phone and cell phones)
- Health Spending (Life insurance, dentist other health related costs. This is pretty low because we live in Canada)
- Enjoyment (Gifts, Entertainment, Vacations, Hobbies, Restaurants, Alcohol, etc.)
- Routine Expenses (Groceries, Clothing, Sewing, Hair, etc.).
April was far from a low spend month due to one big purchase... We bought half a trailer ($7000), shared with my brother's family, so we will split our time and get a lot of camping in this summer. We're really excited, but it definitely throws the numbers for the month.
Here are the numbers:
Total spending (minus daycare and mortgage): $10 102
Notable costs for this month were obviously the trailer but the majority is a single cost and going forward will be roughly $2500-3000 a year for operating costs/summer holiday budget. To be able to give our kids fun-filled camping memories will be so worth it. Another couple costs this month was a Lego kit and some fabric. PapaBird has been lusting over this kit for a couple years and is so excited about building it. We've worked in a couple kits into the annual budget because it really is something that brings him joy. I won't deny him that! The fabric I purchased is mostly some high quality fleece and athletic fabric to make some warm camping sweaters/coats for us all. Our frugal life isn't about deprivation, but mindfulness and examining if a purchase is worth it.
Cumulative savings is sitting at 38%, dropping from the 40% last month. Within this I'm only counting money that has been officially invested or applied to the mortgage. We keep about $10k on hand for upcoming and unexpected expenses, though this has now dropped due to paying for the trailer. It did allow us to pay for it in cash. I am hoping to be back at work soon and have had a verbal offer, but there have been some complications in getting the written offer. I'm still quite hopeful it'll come through, but am applying for other jobs in the meantime. Ultimately I hope we can bump our savings rate up to at least 60% this year, but that can not happen until I'm earning a salary again.
Comparing with previous years:
|Annual comparison (without daycare or mortgage)||April|
|2 015||-$6 201,00|
|2 016||-$2 775,00|
|2 017||-$24 300,00|
|2 018||-$4 813,51|
|2 019||-$10 102,50|
Well seems April is consistently an expensive month for us. In 2015 extra costs were some car repairs, paying tax bills and some small renovations namely painting the basement and having new carpet installed in a bedroom. 2017 we bought a minivan as our family was expanding and 3 car seats unfortunately didn't fit in our main car (Don't buy a Rav4 if you plan for more than 2 kids!). This year was our trailer.
Cumulative spending to date for 2019 is sitting at $4 936. This will continue to rise over the next couple months with municipal taxes and our annual insurance bills coming soon. I'm more focused on the gap between spending and earnings and trying to get our overall savings rate up so I don't stress too much about the spending as long as we are getting value from our purchases, which I feel we are for the most part.