Meager Income

Pay Off Debt, Retire Comfortably on Meager Income, Win the Lottery, Not Necessarily in that Order

June 2014 Spending

Posted on | July 2, 2014 | No Comments

I would like to start saving more money consistently.  The money that is leftover at the end of the month, I’ll transfer to my brokerage account to purchase stock. I plan on relying heavily on the meager income received from my portfolio to be able to retire early and for spending money during retirement.

Unfortunately, it didn’t work out this month. Here is my spending for June:

Expense Amount
Rent $1625
Rental Mortgage $1000
Restaurants $640
Frivolous Spending $580
General Merchandise $467
Travel $375
Gasoline/Fuel $278
Rental HOA Fee $257
Escrow Payment $255
Clothing $223
Utilities $178
Groceries $176
Telephone $70
Entertainment $51
Cable $50
Internet $34
Copies $10
Total $6234

My budget this month has multiple areas of improvement.

– Frivolous Spending — I made a lot of trips to the ATM machine this month.  I need to get this line item under control.
– Restaurants — I’m going to start bringing in my lunch more often.  This will reduce my Restaurant spending but also cause a slight increase in my Grocery bill.
– Clothing — I have everything I need at this moment so this should go down again next month.

These items shouldn’t appear in next month’s spending summary.
– Escrow Payment — I refinanced the mortgage on the Rental and additional cash was needed to close escrow on the new loan.
– General Merchandise — I purchased a piece of furniture.

I’m confident that I’ll be able to reduce my spending for next month.


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