March was good overall. Our income is down from February, but our expenses were lower than usual, so our cash flow still worked out.
We are planning to save 100% of my paycheck in 2012 and will only live on Mrs. RB40’s paycheck and our side income.
|Mrs. RB40’s paycheck||2,693||2,694|
*There is a bit of fuzzy accounting here because I don’t count the cost of baby daycare. We pay $1,035 a month, but it is covered with DCAP from my paycheck. It is already deducted pre-tax and we wouldn’t have seen it anyway. Also, once I quit work, then I’ll be home to take care of the little guy so I think we can zero it out as we look forward to the future.
** I don’t count my paycheck here because we are trying to live on one paycheck. We are preparing for the day that I Go It Alone.
Income (Target > $5,000)
Our total income in March of $4,120 is quite a bit lower than our target of $5k/month. This is not ideal, but our expenses were low this month as well, so we did have some savings left.
Mrs. RB40 is paid biweekly and the amount shown here is the take home pay, after her 401(k) contribution. No surprises here this month.
Rental Income – I’m showing all income minus expense. The property taxes are also baked in now.
The rental income is not that great this month, but at least we are still in the green. We need to save up for a exterior paint job for the 4-plex this summer.
Retire By 40 is transitioning to PPC (pay per click) and affiliate marketing advertising so our income decreased quite a bit from last month. Eventually this should stabilize. My target is to eventually hit $500/month consistently.
Dividend & Interest
Dividend portfolio – $524. We finally hit our target of $500/month. Yay! This won’t be consistent because the payout dates are all over the map.
Interest – $44. My $50,000 is still with ING. I’ve been too busy to do much with it. We want to keep some liquidity to deal with any unexpected changes.
P2P – $20. I’m putting P2P lending into it’s own category because I’m planning to ramp this up in the next few month. My target is $100/month from 10.69% Returns With Prosper.
I got $50 bonus for opening an ING checking account. These little bonuses are nice and I need to keep them coming in. 🙂
$5 rebate from Walgreen. I got a humidifier for baby RB40 and filed the rebate through Walgreen’s website. It worked out quite well.
A mystery $19 check deposited. I forgot who sent this one. Probably another rebate or something like that…
Expenses (Target < $4,000)
Housing – The housing expense is lower than usual because we refinanced and didn’t have to write a mortgage check in March. It will go back up in April.
Food and Cash Allowance – About 90% of the cash allowance goes toward food and groceries. Mrs. RB40 also received her 10% editor pay in cash. I think we did pretty good in March.
Transportation – This is for gasoline and public transportation. I was on leave for most of March so I didn’t have to drive to work and this kept the cost down a bit. I’m happy as long as this category is under $100.
Baby – We got a new stroller for baby RB40. It’s a bit expensive, but we are using it quite often so I think it’s worth it. (Mrs. RB40 says it is definitely worth it – it is saving our backs).
Bills – No surprises here. Electricity = $74. Internet = $52. Insurance = $156.
Medical – Got $35 back from FSA.
Entertainment – Didn’t do much in March. We went out to eat a few times, but paid with cash. They are lumped under cash allowance above.
Misc – I got a set of clippers from Costco and Mrs. RB40 gave me a haircut (she did a terrible job and I had to finish this myself) and I gave baby RB40 one as well. I don’t want to pay for a haircut anymore.
March Cash Flow
As I said before, our income is a bit lower than I’d like, but our expense category was very low as well. I’m very happy that we were able to add over $2,000 to our net worth even with less income.
How about you? Did you have a good March.
If you need some help keeping track of your finances, you should try using Personal Capital to manage your budget. It’s a great free budgeting tool. You can keep track of your income, expenses, and net worth, all in one place. Personal Capital is geared for investors and have many great tools. See my review of Personal Capital and how they helped me reduce what I’m paying in investment fees.
For 2018, Joe plans to diversify his passive income by investing in US heartland real estate through RealtyShares. He has 3 rental units in Portland and he believes the local market is getting overpriced.
Joe highly recommends Personal Capital for DIY investors. He logs on to Personal Capital almost daily to check his cash flow and net worth. They have many useful tools that will help every investor analyze their portfolio and plan for retirement.
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