In my last post I detailed my current expenses within the envelope system. I wondered how my current system compared to what I was doing last year at this time so decided to pull up the statements and compare the expenses this year to last year. While my overall spending habits have for the most part always been within a good range it’s interesting to see that my most recent goal of FI (financial independence) and a tight budget tracking system have really streamlined the amount I’m able to save and invest.
Expenses Last Year to This Year
|Envelopes||April 2016 Expenses||April 2017 Expenses||Comments|
|Mortgage/Escrow||$ 1,000.00||$ 1,100.00|
|Auto Ins/Repairs||$ –||$ 150.00||I did not track this back then|
|Electric||$ 76.00||$ 141.84|
|Groceries||$ 116.30||$ 122.17|
|Phone/Internet||$ 85.00||$ 90.00|
|Trash||$ 73.00||$ 83.00|
|Me-shopping||$ 378.31||$ 77.94||wow! Probably clothes again : (|
|Auto Gas||?||$ 40.00||I did not track this back then|
|Eat Out/Entertain||$ 83.48||$ 30.70||I ate out at least once a week, now cook almost 80%|
|House Essentials||$ 132.89||$ –||Lots of target home purchases back then|
|FI Savings Fund||$ –||20% of pay+ met||I did not track this back then|
Almost a monthly $400 improvement in my savings ability from one year ago. That $400 x 12 month would come close to almost $5000 a year, quite a chunk of change I can now send to the IRA. My 70-year-old self will I’m sure thank me later.