This is part of a series I am planning on publishing every month. Seeing as this is a personal finance site and that I try to implement a lot of the principles that are written about here I suspect that some of you would be interested in seeing the results of these principles over time
This will essentially be a monthly budget report, which will come out some time in the first week every month. My goal is to be as transparent as possible to make concepts clear, if you have any questions feel encouraged to ask.
These will showcase how I have created my personal budget, what techniques I have applied, and what I’m aiming to do going forward.
Principles Addressed
Emergency Fund – Since I have finally finished school, I can start to build up an emergency fund, which I am very excited about.
April 2013 Personal Finance Breakdown
Budget
The following graph/table was taken from my Mint Account of all my activity in April.
I should be using the same categories every month, in order to make it easier to compare month to month spending.
Expected Costs
As I’ve mentioned before I try to invest heavily whenever possible. At this time my income is not enough to allow me to save much, so I need to increase my income to get to where I want to go.
The business services are costs I have with my websites, which you can learn about more in my April Income report.
My rent (home), Auto and transport (gas, oil change and insurance), and standard bills were all expected.
There are obvious costs of food, but these were raised from a typical amount from eating out a couple of times.
Unexpected Costs
Also, shopping expenses vary from month to month; I just try to minimize them whenever possible.
Assets/Debt
Next up is to look at my Net Worth, also obtained from Mint.
It’s not pretty!
**Note: That picture is a little bit misleading, I have already paid my credit card bills for the month which are included in the ‘DEBTS’ until it updates and the remaining debt is comprised of student loans, which I will not have to start paying back until October.
My assets are my car (roughly $3,000 value) and cash in a savings account.
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