Today's Focus

Current Goal: Eliminate Mortgage on Rental Property
Interest Rate is 5.125%!

January 1, 2019: $59,592
July 9, 2020: $13,496

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Monday, August 3

My Frugal Miser - July Expenses: $8,417

July was a great month for paying down debt and keeping most of my expenses in check.  Setting business expenses aside, I spent just over $3,500 last month.   And, with an end of the month large principal payment I have almost paid off the mortgage on the rental property.  Chances are I will pay it in full in August. 

Large Expenses

  • Half of my monthly expenses were related to my rental properties.  I rented our largest rental property, but it required several repairs.  The entire house was repainted, and several other small repairs added up.  Fortunately the house shouldn't need more work for a while.
  • The IRS sent me a refund in May I should not have received.  I was finally able to speak with someone on the phone for instructions on returning the funds.  That lead to a large tax expense.

Everything Else

I sold the Sonata for $1,500.  This offset all the other vehicle-related expenses and resulted in income for that category.  With the new-to-me Elantra, I had no repair costs.  The car is also more fuel efficient.  Food spending finally went down considerably.  American Express has a shop small promotion right now which results in a $5 credit every time you spend at least $10 at a small business, so we saved on our dining out expense.  

July Business Spending:  $5,058
July Personal Spending:  $3,359

July Expenses:  $8,417

($1,202) Auto (service, gas, insurance, AAA, etc.) income this month
$49 Bank Fees
$0 Clothing/ Personal Care
$316 Fun (vacations movies, gambling, alcohol, concert tickets)
$392 Food
$412 Health and Dental
$1,602 Household/Mortgage Payment/Home Repair
$0 Interest Expense
$0 Miscellaneous
$1,698 Taxes includes quarterly tax payments
$6 App Jobs Expenses (tolls, car washes, etc.)
$0 Unreimbursed Job Expenses
$0 Reimbursed Job Expenses
$92 Utilities
$4,247 Rental Property Expenses
$804 AirBNB Expenses

Saturday, August 1

My Frugal Miser - July Income: $12,349

My income in July was solid.

I worked a short one day meeting job.  The meeting was an expo to demonstrate safe meeting practices during a pandemic.  It is going to be a long time before live meetings and events return, but it was nice to work for a day and I got to see a lot of my meeting friends.  I also did a merchandising route last month.

The Airbnb is doing great and we only had 4 empty days.  We took advantage of two consecutive days of vacancy by refreshing some of the paint and doing a few minor repairs.  There is always work to do as the house was built 70 years ago.

I collected rent from all 3 Birmingham rental properties.  One house is newly leased and I only collected a partial months rent.  My management company managed to rent this house less than 2 months after it became vacant.  For the Birmingham market this is good, particularly considering the pandemic as well as several weeks when work was being done to the home.

July Income: $12,349

$72 Mystery Shopping/ Merchandising
$120 Meeting Jobs
$1,018 Gig Apps (Rideshare, Food Deliveries, etc.)
$1,599 Amazon Deliveries
$2,782 Rental Income
$3,519 Airbnb Income
$23 Interest Income
$3,216 Other Sources

Investment Accounts Change in Value:  $1,422

My investment accounts improved slightly.  I could see that Tailored Brands was getting ready to file for bankruptcy so I sold all my shares at a hefty loss.  Some of my other investments gained in value which offset the declines.