I spent a few months renovating one duplex. It took long because we it is not available to let anyway for another few months. Last month (May) we managed to live on 21% of our income. We hit a small ditch in June with 52% of income in expenditure. We are still smiling from ear to ear for having paid up our last mortgage.
Our June 2013 monthly spending and budget report:
| INCOME | JUN'13 | MAY'13 | NOTES |
| Real Estate | 33% | 9% | Target is 25%, GREAT . |
| Personal Income | 46% | 86% | We are working on growing other income streams to bring this lower. |
| Interest/ Dividends | 2% | 1% | Our emergency fund interest. |
| Online Income | 19% | 5% | |
| Other | 0% | 0% |
| SPENDING | JUN | MAY | NOTES |
| Real Estate | 34% | 10% | Still due to renovations. |
| Transportation | 0% | 0% | |
| Online | 0% | 0% | |
| Internet/ Phones | 1% | 1% | |
| Consumer | 4% | 4% | Includes food |
| Credit Card, Cash & Fees | 0% | 2% | |
| Giving | 7% | 3% | This should be at around 10-12%. It will even out during the scholarship payment months. |
| Life Insurance | 1% | 1% | Fixed |
| Invested | 48% | 79% | We paid most of it into 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%.-- 23% so far.
- BUDGETING: invest at least 40% of income.-- 50.8% 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 .-- DONE.
- 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.
0 comments:
Post a Comment