June was a very good month, We’ve continued to accumulate stuff for the new house, but didn’t break our budget to do so either. In all, we were right on budget for the month, but didn’t make the progress we wanted on our debt payoffs. Compared to June of last year, we did great, and we were able to stay far enough under our income that we made a significant debt payment (which will post in July) and upped our savings and emergency fund. In all I’m pretty happy with how June turned out.
Here’s how the rest of the month went
Goals:
· Overall 2011
- Increase Retirement Accounts by 10%
- The month of June saw a loss in our retirement account this year (as it did last year) for the month, we say a decline of $3,480. for the year, we’re up 4.2% My company’s annual contribution is coming up, so I’m not concerned about this.
- Eliminate Credit Union Debt
- YTD Paid down by $1,688 (13.5%)
- Sell Condo (Completed)
- We Sold and Closed! We are no longer home owners as of May2011
- Move to our own house (Completed)
- We are officially Moved in.
· June 2011
- Continue to adjust weekly gas and grocery spending. Reduce by $25/week (Incomplete)
- We did not reduce our budgeted amounts by $25/week, but we did stay on the overall budget. Still need a few weeks to work on this
- Make, at least, $300 in extra payments to debt, and increase reserve by at least $300 (Incomplete)
- I was able to make extra payments of $740 to debt, and savings, but overall our debt will still be up slightly from last month
- Look into ways to consolidate current debt at a lower interest rate (Complete/Ongoing)
- Still incomplete
Debts 6/1/2011: $81,533.00
| Account | Total Owed | Payment | APR | Paid | Remaining |
| AMEX CC | $4,099 | $90 | 17.25% | NA | $5,391 |
| Cred Union | $11,030 | $327 | 11.9% | $327 | $10,812 |
| School loan | $2,583 | $115 | 3.25% | $115 | $2,475 |
| Citi Bank CC | $2,582 | $39 | 1.99% OCT11 | $38 | $2,548 |
| Personal Loan | $61,239 | $100 | 0% | $99 | $61,140 |
Total Remaining: $82,366.00(7/1/11)
Progress MTD: +$833 (+1.02%)
Progress YTD: -$156,867 (-65.57%)
June Notes on Debt:
Many items went on our Amex this month, and we’re still waiting on payment for some of them. We bought a lawnmower, which will be a gift from Mrs. Lwil’s parents, they just haven’t given me a check yet. We bought a new PlayStation 3, because our old one died, and it’s our main source of entertainment (Netflix and Hulu). Along with this purchase, I was able to convince Sony to give me a free game ($70 value) sell the old unit on EBay ($85) and Sell the gift card/rebate that I got with the new unit ($45). Finally, we bought a grill. It’s massive, and we should have waited, but we’re were supposed to get a reimbursement from Mrs. Lwil’s job for some work she did. That still hasn’t come, and will pay off the grill.
Amex Cash Back Rewards YTD: $118.39 ($250 used, overall reward 368.39)
my statement lags behind by 1 month so in May, I cashed in $250 in cash back rewards. I earned an additional $107 is rewards
Savings:
Many items hit our savings allocation budget this month
Savings 1: $2,409.11(MTD +$493 and YTD -$1,779.07)
Savings 2: $845.46 (MTD +$672.46 and YTD +$749.46)
Total Allocated $5,538 (MTD +$506 and YTD +$3,438)
Emergency Savings:
(Savings 1&2) $3,254
(ING) $310
Total: $3,564 (MTD +$1,231 and YTD -$6,758)
Retirement Accounts:
| Account | Month start | Month end |
| Wife’s account | $21,486 | $21,304 |
| PF Account 1 | $20,338 | $18,985 |
| PF Account 2 | $68,852 | $66,907 |
| Total | $110,676 | $107,196 |
MTD Change –$3,480(-3.14%)
YTD Change + $4,314 (+4.19%)
June Spending:
we came in well under budget, but this was mostly artificial. Still, as a result, we were able to make contributions to our debt payoff, and our savings. To get here, we used Mrs. Lwil’s coaching stipend, and supplies reimbursement. We dipped into our emergency fund to pay $400 for tires for one of our cars, and we also took a distribution from our Child care flex account which was split between savings and debt.
July outlook:
I have us projected to be about $800 under our income in July. Any amount under our income will be split between our reserve account, and our debt. We do have a vacation planned the last week in July, and some weekend trips. We will also take another distribution from out flex account, and should have extra income from Mrs. Lwil’s summer job.
July Goals:
- Increase Savings amount to $4000 (+$436)
- Lower Amex total to below $4000 (-$1,391)
- Keep all vacation/travel payments within our weekly grocery/gas budgets.
1 comment:
Amazing itemization. Congrats again on the successful sale of your condo. We're in the midst of moving ourselves. Will be glad when we get settled in! (and the financial dust settles!)
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