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It’s the beginning of the month, so time to review my expenses. I like doing this. I used to do it only at the end of the year, but I am enjoying the frequency of this month to month stuff.
I’m going to keep my categories as they are for this year, but next year I might consolidate all of the “House” categories. As an explanation for you now, in case you wondered, here are the differences as I perceive them: House Supplies are things that get used up (things like toilet paper, contact solution, etc.). House Repairs are things that get repaired (duh). And House Stuff are things used for The House that don’t necessarily get used up (things like furniture, fabric, tiller rental, etc.). Does that all make sense? For some reason, I like differentiating them since those differences matter to me, but I will probably consolidate next year for simplicity’s sake.
Anyway, back to the report. Once again, we are all probably waiting with bated breath to see if I can get our expenses under $2,000 (before student loans), so let’s see how I did:
As you can see, if we subtract the student loan amount ($6,000), our regular expenses came to $2,048.46. So, we didn’t make it under the $2,000 yet again! Blerg!
It’s all these school fees that keep popping up that keep getting us. Every month, there’s been something. This month, it’s a supply fee for the private high school that we’re enrolling my oldest in. But, the thing is, we don’t even totally know if she’s going there yet because we haven’t gotten our financial aid and scholarship amount back yet!
I wish I wasn’t so picky about schools and could be happy just sending her to the local (and free!) public high school. No, I take that back… what I wish is that public schools would provide a better education for our children. It’s the educational systems that needs to step up, I don’t need to step down. As you know, I’ve never been a fan of the cookie-cutter manufacturing plant that is the public school system… but enough of this rant, on with the show!
You can see that we put a larger amount toward student loans this month. This is because we got our tax refund, so we put $5,000 from that toward the loans. We’ll put another $5,000 (hopefully, if these private school bills for my kids don’t keep adding up on us!) after we get our property tax refund later this year. As you know, it’s all part of my plan to pay off our ginormous amount of student loans debt in ten years.
Here’s something new that I did for you. Since you talk a lot about your net worth and whatnot, I thought I’d show you what I’m worth. Take a look:
As you can see, our saving grace comes from the equity we have in our house. To get to that $125,000 amount, I averaged what it was worth on our property tax statement and Zillow ($214,000), and then I subtracted what we owe ($89,000). So, we’re sitting on a pretty penny here. We bought the house as a foreclosure in a good neighborhood, which, apparently, is a very good thing to do (although we didn’t even know it at the time.) Sure, you might think it’s a good idea to sell, take the money, and pay off our loans, but I told you what I thought of that idea already.
And, with that $5,000 payment, just look at our student loans going down. We’re getting there.
Here is what our spending looked like this month compared with the rest of the year:
For these first four months, I am averaging around $2,800 in ordinary expenses a month. Yikes! If we keep this up, we’ll be around $34,000 for the year, and that is too much if I want to have enough money to stick to my student loan repayment plan. Last year we were at $32,000, and that included a vacation. Double blerg.
Here’s hoping I make it under $2,000 next month.
P.S. I just noticed that I put the CD player under House Supplies, when it should have probably gone under House Stuff. And garden seeds, even though they “get used up”, I put them under House Stuff, because I put all the garden stuff under House Stuff. As you can see, this is not a perfect system.