Just as stocks have quarterly earnings, here is an update of our first quarter expense report.
43% Home expense (mortgage, furnishings, HOA)
23% gifts and donations (Tithes, offerings, missions, etc)
8% automobile expense (gasoline, repairs, insurance)
8% travel expense (airplane tickets, rental car)
6% utilities (water, gas, electric, phone, internet)
6% food (eating out, groceries)
1st Quarter Income: $12.8k
1st Quarter Expense: $14.1k
1st Quarter Net Income: -1.3k (DEFICIT)
$2250 was extra principal payments towards our mortgage
$400 was due to vehicle repair
$1350 was spent on our vacation
$2200 on extra giving (special offerings)
$450 on auto insurance
We were on track in most areas:
We were over in these areas:
Automobile (-2%) due to insurance and repairs
Overall, for Quarter 1, we spent a lot, but we also made a lot. I was hoping our savings would increase, but due to extra expenditures we weren't able to save as planned. Along with our normal salary, we received many gifts from relatives as well as our tax refund plus some extra savings boost through our investments.
So Even Steven for First Quarter of 2010.
Okay, this is an updated chart of our First Quarter Expenses.
Mint has this feature where you can split expenses. So instead of counting my mortgage + extra principal payments as home expense, I decided to count regular mortgage payment as home expense and then extra principal as investment: Real estate since this really where it is going. I am essentially investing that extra principal money into the house reducing interest and increasing equity.
Total Expenditures: 14,067.45 (like I said, even Steven)