Friday, August 14, 2015

Income & Expenses For July 2015

Since 2014, I have been tracking my monthly income and expenses. You can see a breakdown of every penny I earn and spend. For perspective, this budget is for a household of two in a small US city. By documenting my journey, I aim to demonstrate the feasibility of saving a significant portion of your income and provide some ideas and inspirations for your own budget.

Below is my income and expenses for July 2015. You can see all my monthly budgets here. 


July 2015
Other Income$1,146.41
Total Income$25,802.71
Federal Tax$4,055.56
Federal Tax Pmt/(Refund)
Student loan repayment$176.85
Cell phone$17.86
Total Expense$5,199.14
Ex-Tax Total Expense$704.16
Before Tax Saving Rate79.85%
After Tax Saving Rate96.70%

Wages were high due to annual bonus. Dividend income this month was $1233.83, which covered my living expenses of $704.16. Here is a chart of my dividend income by month for the last 13 months:
Expenses were somewhat lower this month.

My after tax saving rate was 96.7% for the month of July, which exceeded my target of 90%. This marks 5 months in row with above 90% savings rate. Going forward, I expect to meet or exceed my 90% savings goal for the year.

How's your budget? Did you save as much as you wanted to? On track to meet your savings goals for the year? Thanks for reading.

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