Saturday, September 3, 2016

Income & Expenses For August 2016

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 August 2016. You can see all my monthly budgets here.
Aug 2016
Other Income$1,687.65
Total Income$13,050.36
Federal Tax$678.24
Federal Tax Pmt/(Refund)
Student loan repayment$161.17
Car Insurance$133.72
Car Reg/Tax$32.00
Cell phone$12.88
Total Expense$2,127.15
Ex-Tax Total Expense$932.86
Before Tax Saving Rate83.70%
After Tax Saving Rate92.13%

Wages remain my primary source of income by far. 
Dividend income $1300.95 is up from last month, and is more than I need to cover my expenses.

Here is a chart of my dividend income by month for the past 13 months:
Total dividends for the trailing twelve months: $13,240.31, up 18% from $11,240.59 in August last year. 

Overall expense is higher this month due to payment of $133.72 for 6-mo car insurance renewal. This insurance premium is an 7.8% increase over $123.93 six months ago. O well, not much I can do about it, and I'm just glad it's still much lower than the national average.

Total expenses for the trailing twelve months: $9,697.71. 
Dividend to expense coverage ratio = 1.37, a slight decrease from last month.

My after tax saving rate was 92.13% for the month of August, which is around average for me. I expect to meet or exceed my 90% savings goal this year. 


  1. That's absolutely INCREDIBLE! You are crushing it. Wow, very impressed! I plan to follow your blog much closer to see how you do it. Keep it up!

  2. I just wanted to follow up, after looking more closely, it looks like your total food costs for the month were $86? Is that correct?

    1. Yes, that's correct. It is about average for me, for a 2-people household. How much do you spend?

    2. That is crazy low in my opinion! :) What country do you live in to be able to do that? I have a household of 4 but we are spending around $80 for Restaurants (fast food, everything) and $400 or so in groceries. And we think that is good, considering the 'eating out' is usually at a cheap place only once or twice a month. Anyway, I am impressed and would love to learn more about how you do that. I'm literally eating peanut butter and jelly for lunch and home cooked meals and am hitting around $400. Keep it up!

    3. Thanks for your encouragement! We live in the US, don't eat out, and consume mainly oatmeal (about $2 for a 42-oz box), dried beans (which I buy in bulk for under $1/lb), and cabbage (~50 cents/lb). I do vary it with fresh and canned vegetables and fruits on sale, which is why my monthly grocery is $80, not $20! :) Not exactly ramen noodles, but pretty close in price and much healthier!