I'm not sure how, but we made up for our family's typical budget shortfall in the month of May.
Mind you, this is a month in which I spent two dayspartying attending an economic development seminar in Mad-City and three days in Vegas attending RECon and eating and drinking like there was no tomorrow. I dined at STK, Lago, Gordon Ramsey's fish & chips and flock & fowl, to name a few. We attended cocktail parties at two bars at the Cosmopolitan and went to a few additional patio bars.
I Paid Ourselves $1,600 First including $700 to my IRA, $500 to my wife's and $400 to our daughter's 529 plan.
I paid our family's mortgage, Subaru lease payment and paid our utilities. We purchased nearly a thousand dollars worth of groceries and ate out another $250 or so.
Somehow, our spending and investing amounted to about $7,300, while over thirteen grand made its way into our checking account. In all, six grand more made its way into our checking account than made its way out.
Am I dancing a jig? Jumping for joy? Am I going to write how if we do that every month of the year then we will end the year with seventy grand more in our account than when the year began?
Nope, no way and fat chance.
Just as I wrote that we were five grand under for the first quarter of the year and then another $1,600 under last month and neither phased me, nor does a month when six grand more makes its way into our family's coffers than out. Basically, our bank account has roughly the same balance today that it did when 2018 began.
For one, through a quirk of the calendar, our bank statements typically post on the 8th of every month, thus a deposit of my paycheck and my wife's final paycheck of the school year made its way into our account on the 8th, the third deposit on the bank statement. Also, I cashed out two vacation days last month for an extra $700 and also cashed out almost two sick days (the most I was allowed) for nearly another "extra" $700 on the 8th.
I received a "bonus" upon my May work anniversary of about $800 (one thousand minus the taxes). Thus, I earned an "extra" $2,200 of take-home pay last month. I write "earned" rather than "received" because my employer gives nothing to anybody and the bonus was earned through working super hard for my young millennial boss and the other extra dollars received were from giving up two vacation days, which I am loathe to do, and by only taking two sick days for the preceding twelve months.
I actually only took one entire sick day, and the other nine or so "sick" hours that I took were for dental appointments. I went on the D.L. and took a sick day in April one weird day where I slept awkwardly and could not turn my neck to the left without experiencing an enormous amount of pain. I thank God that passed rather quickly by taking it easy for one weekend.
Also, I had paid two months' worth of college-related costs on last month's bills, so there were no $2,500+ charges to them on this bank statement. Nor will there be next month, as both school and the billing resumes in mid-August.
Anyway, just as I am getting ready to pay a stack of bills, purchase our daughter a new trombone (Oy, is that expensive!) and maybe even take the family on a vacation, I would not be surprised to see that number reversed next month and see five or six grand more leave our account than makes its way in.
I realize that this is not a compelling story of how to make or save more money. It is more to assure myself and my readers that I am not spending more than we take in month after month as I dispense golden nuggets of wisdom about money and other items.
Who wants to read thoughts about Paying Yourself First, my mantra, from some random dude whose family spends more than he makes every single month? I wouldn't.
I suppose that looking at one's finances on a quarterly basis probably remains the best way to take stock. After all, if Vanguard, T. Rowe Price, Capital One, Bright Start and whatever other funds we have send us quarterly statements, they must be on to something.
Mind you, this is a month in which I spent two days
I Paid Ourselves $1,600 First including $700 to my IRA, $500 to my wife's and $400 to our daughter's 529 plan.
I paid our family's mortgage, Subaru lease payment and paid our utilities. We purchased nearly a thousand dollars worth of groceries and ate out another $250 or so.
Am I dancing a jig? Jumping for joy? Am I going to write how if we do that every month of the year then we will end the year with seventy grand more in our account than when the year began?
Nope, no way and fat chance.
Just as I wrote that we were five grand under for the first quarter of the year and then another $1,600 under last month and neither phased me, nor does a month when six grand more makes its way into our family's coffers than out. Basically, our bank account has roughly the same balance today that it did when 2018 began.
For one, through a quirk of the calendar, our bank statements typically post on the 8th of every month, thus a deposit of my paycheck and my wife's final paycheck of the school year made its way into our account on the 8th, the third deposit on the bank statement. Also, I cashed out two vacation days last month for an extra $700 and also cashed out almost two sick days (the most I was allowed) for nearly another "extra" $700 on the 8th.
I received a "bonus" upon my May work anniversary of about $800 (one thousand minus the taxes). Thus, I earned an "extra" $2,200 of take-home pay last month. I write "earned" rather than "received" because my employer gives nothing to anybody and the bonus was earned through working super hard for my young millennial boss and the other extra dollars received were from giving up two vacation days, which I am loathe to do, and by only taking two sick days for the preceding twelve months.
Also, I had paid two months' worth of college-related costs on last month's bills, so there were no $2,500+ charges to them on this bank statement. Nor will there be next month, as both school and the billing resumes in mid-August.
Anyway, just as I am getting ready to pay a stack of bills, purchase our daughter a new trombone (Oy, is that expensive!) and maybe even take the family on a vacation, I would not be surprised to see that number reversed next month and see five or six grand more leave our account than makes its way in.
I realize that this is not a compelling story of how to make or save more money. It is more to assure myself and my readers that I am not spending more than we take in month after month as I dispense golden nuggets of wisdom about money and other items.
Who wants to read thoughts about Paying Yourself First, my mantra, from some random dude whose family spends more than he makes every single month? I wouldn't.
I suppose that looking at one's finances on a quarterly basis probably remains the best way to take stock. After all, if Vanguard, T. Rowe Price, Capital One, Bright Start and whatever other funds we have send us quarterly statements, they must be on to something.
Comments
Post a Comment