To those new in this blog, This is my personal finance journal where I track my monthly spending. My goal for 2013 is to spend 60% and invest 40% of our income to help me (and hubby) to retire comfortably in our early 40s.
How hectic the renovations of one rental unit kept us. I couldn't escape to sneak more posts. The costs of the renovations reflect in our April expenditure and will hit hard on our May one again. We lived on an impressive 40% of our income in March. We stuck below our target budget of 60% spending and 40% investing. This month took us above 100% spending. I wish it was a joke.
Interest on my Emergency Fund is 4.65%, which is below the inflation rate. I took some money to the stocks in January. If the Governor and the Reserve Bank cut rates, I will be very sad.
We lived on just below 134% of our income in April (comparing
to 40% in March). Our Net Worth grew by a tiny margin. For which I am grateful.
TRACKING 2013 GOAL PROGRESS
How hectic the renovations of one rental unit kept us. I couldn't escape to sneak more posts. The costs of the renovations reflect in our April expenditure and will hit hard on our May one again. We lived on an impressive 40% of our income in March. We stuck below our target budget of 60% spending and 40% investing. This month took us above 100% spending. I wish it was a joke.
Our April 2013 monthly spending and budget report:
| INCOME | APR'13 | MAR'13 | NOTES |
| Real Estate | 37 | 17% |
Target is 25% . |
| Personal Income | 56% | 82% | We are working on growing other income streams to bring this lower and thus diversify risk. |
| Interest/ Dividends | 6% | 1% | Our emergency fund interest and dividends were good. |
| Online Income | 0% | 0% | Next month. |
| Other | 0% | 0% |
| SPENDING | APR | MAR | NOTES |
| Real Estate | 32% | 10% | Renovations. |
| Transportation | 0% | 0% | Paid mostly with cash left over from last month. |
| Online | 4% | 2% | Freelancers paid |
| Internet/ Phones | 1% | 1% | |
| Consumer | 6% | 10% | Includes food |
| Credit Card, Cash & Fees | 1% | 7% | We used the Mr's credit card and paid it off over 50 days spread. |
| Giving | 3% | 3% | This should be at around 10-12%. It will even out during the scholarship payment months. |
| Life Insurance | 1% | 1% | Fixed |
| Invested | 51% | 61% | We didn't pay more into our homeloan like we usually do. This is only automated unit trusts and a small amount on the stocks. I no longer top my Just Invest (Nedbank) savings up. |
TRACKING 2013 GOAL PROGRESS
- MAIN GOAL: net worth growth by at least 25%.-- 12% so far.
- BUDGETING: invest at least 40% of income.-- 73% so far.
- EMERGENCY FUND: 3 months worth of living expenses.-- DONE.
- GIVING: give of more than 10% of income.--5% so far.
- REAL ESTATE: Construct at least 4 flats/ increase the rental income by 30% .-- not yet.
- MORTGAGE: Pay up our home .-- not yet.
- STOCKS AND DIVIDENDS: Get at least R12,000 in dividends.-- not yet.
- EXTRA INCOME: Online income to R8000 per month by December 2013.-- +/-R3700 April.
