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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Saturday, September 5

My Frugal Miser - August Expenses: $7,785

I followed through in August with plans to pay off the rental property mortgage.  That means the only debt I have is on my primary residence.  This will reduce monthly expenses by $449 starting in September.  

There were a couple of other beneficial transactions last month.  The electric company decided I was "over-securitized" and refunded the deposit to my account.  I didn't have to pay a bill in August and still have a $43 credit that will be applied to the September bill.


Large Expenses

  • By far the mortgage on our home is the largest expense.  Right now I pay $1,600/month.  This will go down some next year because it currently includes a payment to make up a shortage in my escrow account.
  • I paid $300 to renew two types of termite protection on the Airbnb.  I had to have it tented when I purchased it in 2014 so this coverage protects me should there be another infestation.
  • We had a lot of "fun" last month.  Early in the month I went to Tunica for a few days and lost at blackjack.  We have also been doing mini-getaways.  In August we visited Boca Raton, Fort Myers, Sarasota, Naples and Atlanta.  Hotel stays are included here but fortunately rates are really low.  I was able to take advantage of Hilton's price match guarantee for three separate bookings.  While I was booking a price-match room with Hilton I was offered bonus points to listen to an offer from Hilton Grand Vacations.  I decided to take advantage of the offer for a Hawaiian vacation, so the deposit for that is included as well.   In all, I took 5 trips and paid for a sixth, all for $1,800.

Everything Else

Rental property expenses were more than $1,000.  When a new tenant moves into one of my managed properties I have to pay a leasing fee to the management fee.  My largest rental property rented in July and the $700 leasing fee was billed to me last month.

August Business Spending:  $2,497
August Personal Spending:  $5,288

August Expenses:  $7,785

$447 Auto (service, gas, insurance, AAA, etc.)
$85 Bank Fees
$0 Clothing/ Personal Care
$1,818 Fun (vacations movies, gambling, alcohol, concert tickets)
$688 Food
$406 Health and Dental
$1,640 Household/Mortgage Payment/Home Repair
$0 Interest Expense
$38 Miscellaneous
$100 Taxes includes quarterly tax payments
$6 App Jobs Expenses (tolls, car washes, etc.)
$0 Unreimbursed Job Expenses
$0 Reimbursed Job Expenses
$65 Utilities
$1,382 Rental Property Expenses
$1,108 AirBNB Expenses

2 comments:

  1. Congrats on paying off the rental mortgage. It will be nice to have one less payment each month.

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    Replies
    1. Thanks. It felt great this month when the bank didn't take out that $449 from my account.

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