This month was another tough one. Not many people know this but when I switched jobs to reduce my stress I took close to a 10% pay-cut. This hurt allot so the year hasn't been going well. The bulk of the money I earn goes into supporting my family of six.
Fixed Costs58% over target
On the bright side I spent $200 dollars less on food this month compared to May. On the not so bright side I had to have some maintenance done to my wife's 2006 minivan so that offset any food savings.
My utilities did jump up this month as well. With summer in full swing and my phone bill finally kicking in that bumped it by almost $200 dollars. At my previous job I had a company cell phone. When I left I had to go out and buy a phone and get a plan. Since my wife and older kids already had phones I did some shopping and got a family plan which costs us $160 a month. That was the best deal all around.
Looking over my data for 2014 and 2013 I am regularly over in this category. Maybe living off of 60% of your income for a family of six isn't realistic. I have a couple of things in this category I need to write about and get peoples thoughts on.
Investments63% under target
I think I wrote about this briefly before but I have part of my paycheck taken and put directly into the cash account I use for investing. This is way under my target but I am having a hard time bumping it up. Need that cash for living.
Savings156% under target
I found out that you can't put negative numbers in a pie chart this month. So I just set it to 0. This month I had to dip into my savings to pay some credit card bills.
I always pay my credit card bills off every month. Living debt free is important and one of the first steps to being able to save money. There is no point in saving money if you have to pay interests to your credit card company. In the long run that will always be higher than any savings rate you could find.
Guilt Free Spending Money%44 under target
This is a good under. Like some of my other categories had to squeeze them to make ends meet. Not how I like to roll but this one is OK. I still got to do some fun (and free) things with the family, eat out a couple of times and enjoy BOGO DVD rentals from Redbox.com.