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Wednesday, July 3

My Frugal Miser - June Expenses: $13,883

The month of June was the second month this year where I spent more than I brought in.  Most of my spending was to maintain and repair my rental properties.  Unexpectedly, one of my tenants passed away in June.  I wasted no time beginning the rehab on her townhouse, so there was no break between all the spending I did on the first townhouse and significant spending on this second one.  Fortunately much of the spending is for improvements that will help me reduce future spending:  I installed a new roof on one property ($2,625) and laminate floors to replace carpet on this second townhouse (more than $2,000 once I pay the installer).

I try to keep my personal expenses under $1,500 per month.  A major repair expense and the purchase of my Piaggio Fly 50 scooter kept me from meeting this goal in June.

June Personal Expenses ($5,527)
Note:  Accountants would amortize the cost of my scooter, but I keep things simple when I can.  The entire purchase price is counted as a June expense.

$4018 Auto ($2600 for scooter, $1131 for service, $121 for parts, $166 for fuel)
$0 Bank Fees
$0 Clothing
$132 Entertainment (movies, gambling, alcohol)
$260 Food
$27 Gifts Given
$728 Household/Housing/Home Repair
$159 Health and Dental Insurance
$0 Investment Expenses
$0 Medical/Dental
$35 Miscellaneous
$14 Personal Care
$0 Subscriptions
$0 Taxes
$155 Utilities
$0 Vacation and Recreation

June Business Expenses ($8,355)

$1021 Mortgage Interest (rental properties)
$113 Interest on Debt (not including Mortgage Interest)
$7,222 Rental Properties - Maintenance and Repairs

Total June Expenses : $13,883

  • I don't include principal payments in my expenses, only the interest portion of the monthly mortgage bills.
  • Home repairs were higher than normal.  A storm damaged the wooden fence in our back yard.  I repaired it myself, so the cost is for material only.
  • My rental properties cost me more than they brought in.  I don't think that will happen again this year.

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