I think it takes a little bit of guts to share your income and expenses openly with the world. But that said, I think there is value for both of us in reading this post. I will do a similar post every month.
General Thoughts on this Month: Progress is happening, albeit slower than I would like. Fortunately I think I will reach another of my goals for this year JUST IN THE NICK OF TIME! Thanks to diligent saving and spending I believe I will have my family debt reduced to my goal amount of only $5000 left (I know, still high!...agh) by the end of the year, but I started the year at $29,000, so I am not too disappointed, with this goal actually being achieved on December 15th. Very thankful for this! It may not seem like a big deal, but to me it is!
All of that said, listed below is a detailed display of all income and expenses for the month of November 2016.
1) Income was a little lighter this month, but two rental costs reduced my rental income by a little over $115. Thankfully I made up for it with additional income from my 'side gig.'...always trying to work hard! Now if only all of my income wouldn't all go towards paying down debt!..soon, I hope.
2) No change to Lending Club 'sales'. Here is a detailed description from June's report, explaining this number, as I unwind my Lending Club investment as quickly as I can. This number will eventually go to zero.
3) Dividends were solid and just shy of $300. I am very thankful for this level of consistent passive income, but to be honest, I am very excited for December's dividends. Stay tuned for what I hope will be a record month for me personally. Ever. Overall, not a bad month at all for Passive Income in November, which ultimately supported my 'total income' amount.
General Thoughts on EXPENSES:
1) Expenses were pretty normal this month. Several items were reduced becuase of family members staying with us for Thanksgiving and paying for things (groceries, etc), and several items increased due to family membersstaying with us! :). Several items increased as well because of the holidays (gifts, restaurants, kids). Finally, auto costs continue to be higher than I'd like, but should be reduced next month.
Takeaway - I continue to believe that we can live relatively normal lives, albeit while remaining very conscious of our expenditures and staying very disciplined, and as a result achieve a savings rate of ~25% rather consistently. This month a 25% savings rate translated into to have a positive difference of ~$2500. Very cool! Unfortunately I still have family debt and some credit card debt (details here, in Goals), so I definitely didn't "feel" the extra yet. It went straight to paying down those items. Eventually! ....How many months am I going to say this???!
What do you think? I'd love to hear your thoughts below.
Thanks for reading!
Passive Income Dude