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Wednesday, June 5

My Frugal Miser - May Expenses: $17,470

The month of May was painful.  I spent a significant amount rehabbing the vacant townhouse.  Much of this was an investment that should save me money over the long term.  For example, I replaced the carpet with laminate.  I also ripped out the linoleum in the bathroom and replaced it with ceramic tile.  Another large expense was for property insurance, which will be spread over May and June.

I wanted to keep my personal expenses under $1,500 in May.  I failed.

May Personal Expenses ($7,750)
Note:  $4,690 is directly related to Grandfather's Estate.  Excluding those, my May Personal Expenses would have been $3,060

$506 Auto ($143 for parts, $363 for fuel)
$44 Bank Fees
$10 Clothing
$98 Entertainment (movies, gambling, alcohol)
$231 Food
$10 Gifts Given
$525 Household/Housing/Home Repair
$159 Health and Dental Insurance
$0 Investment Expenses
$0 Medical/Dental
$2,469 Miscellaneous
$0 Personal Care
$12 Subscriptions
$2,221 Taxes
$95 Utilities
$1370 Vacation and Recreation

May Business Expenses ($9,720)

$1049 Mortgage Interest (rental properties)
$113 Interest on Debt (not including Mortgage Interest)
$8,558 Rental Properties - Maintenance and Repairs

Total May Expenses : $17,470

  • I don't include principal payments in my expenses, only the interest portion of the monthly mortgage bills.
  • Most of the Miscellaneous expenses were incurred on behalf of my grandfather's estate.  I had to retain a lawyer to settle probate, insure my grandfather's house, and pay for lawn service.
  • The only vacation expense from May was during my visit to Omaha for the Berkshire Hathaway meeting.  I also spent $392 for a cruise we are taking at the end of September and $848 on two plane tickets for a trip to Las Vegas at the end of July.
  • My rental properties cost me more than they brought in.  I spent $2,921 on insurance (more to come in June), $450 on a special assessment towards a new roof for the one condo I own, and more than $5,000 on improvements at the vacant townhouse.
  • If I go through with my plan to sell the Corolla, my transportation budget should benefit significantly.

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