Today's Focus

Current Goal: Automate Savings and Mortgage Paydown

1) Extra $1,100/mo. to mortgage
2) $1,000/mo. to short-term savings
3) $400/mo. to investing

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

January 1, 2019: $59,592
August 11, 2020: PAID!


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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

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