June 2015 Income/Expenses
It’s payday today which means time for this month’s Income/Expenses!
I think it’s important to keep track of your income/expenses every month as it allows you to spot trends and areas for improvement. I find it really useful to track the spending changes each month, and really motivating to see the networth improvements. Sometimes it can seem like financial independence is so far away, but by watching your networth steadily increasing you’ll know you will reach that point eventually. I’ve created a new page to keep track of total networth, you can find it here.
June was a pretty awesome month. We went away for a staycation at the beginning which was not only great fun.. but pretty cheap too! Also sparked some great discussion on articles relating to work appraisals and life outside the 9-5.
Google Analytics tells me we’ve had 7,900 pageviews from 2000 users. Our best month so far in terms of visitors so welcome to everyone who’s swung by and especially thank you to those who have come back. I’m still looking to build up my UK finance blog list and might be working on a project related to this in the future so if you run a UK personal finance blog please do get in touch so I can take a look!
On to the report:
Income
Salary: £2067.46
Pension Contributions: £506
Affiliates: £144.30
Total: £2717.76 (+3.8%)
Expenses
Mortgage/Bills: £718.01
Groceries: £184.54
Petrol (Gas): £20
Maintainance/DIY: £14.99
Eating out: £149.72
Healthcare: £4.18
Entertainment: £106
Other: £430.97
Total: £1628.41 (+34.5%)
Massively lower grocery bill this month as we were away on holiday for part of it and have made a concentrated effort to eat through some of the food stockpiled in the freezer. Increases in eating out and entertainment obviously due to being on holiday. A huge increase in the ‘other’ category which is down to annual renewal fees (Costco, Website hosting) new clothes for work, drycleaning and paying for the holiday itself and various pet fees for vaccinations.
Overall an expensive month but nothing unexpected . A savings difference of £1089.32 which is 40.1%
Networth
House Equity: £30,957.17
Cash in bank: £3,613.05
ISA Investments: £5,217.98
Pension 1: £16,876.42
Pension 2: £2,975.19
Total Networth: £59,639.81 (+0.3%)
I think like most UK investors this month I’ve been pretty hammered by falling share values which has taken a chunk out of ISA and Pension investments. Fortunately the guaranteed returns from mortgage overpayments continue to creep upwards as our original 25 year term mortgage now sits just under 22 years saving a large chunk of interest. Still; cheaper shares means better value for the slow and steady passive investor like myself.. so everything keeps on chugging away with the automatic monthly investments.
3 thoughts on “June 2015 Income/Expenses”
Well done Guy. I agree with the importance of monitoring expenditure monthly. I also calculate a 12 month rolling average. This smooths out the effect of annual or quarterly expenditure (holidays, insurance, council tax paid over 10 months etc). You can then clearly see the overall trend without the inevitable peaks and troughs of monthly expenditure.
Keep up the great work.
Keep going on the savings. Also good job on your affiliates revenue, given the relatively low traffic of your site, these are really good numbers, I wish I could say the same!
Hi Guy
I really like the way you save and that makes me think positive about my savings every month.
I’m on just 30k a year after tax I just get under 23500k. But I’m try to save 90% of it.
So far what I have done is: I’m in my early 30s have my own flat mortgage paid off. I don’t have any work place pensions or any other pensions. I do have some savings here in Scotland for rainy day.
But big chunk of my money is saved up oversees earning me a good interest 8 to 9% a year.
What more can I do to make more money
Maven