This is the second article in my monthly financial reporting; in order to get a full picture of how I fared in August, take a look at my balance sheet posted last night in addition to this article.
A vacation, a living room upgrade, and a new bedroom furniture set provided a negative force on my bank accounts, while they were positive supported by three day-job paychecks and above-average business income. A housewarming gift from a relative helped ease the pain of paying for bedroom furniture. Here are the details.
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* The report is made with Intuit Quicken and Microsoft Excel. HereÃ¢â‚¬â„¢s an income and expense report Excel template.
As I mentioned, three paychecks from my day job provided a bit of a boost this month. I generally budget for only two paychecks, so while that third paycheck is part of my total salary, it seems like extra money. My side business is doing well, and I’m hoping for continued increases this year. The summer months are historically slow, so if the past is any predictor, I should see a jump in the next few months. I’m not counting on this however.
This side business income is necessary at this point. With my higher rent and other expenses, my day job alone wouldn’t cover everything. The business itself has new expenses that will increase, as well.
I’m grateful for my family. Relatives have provided me “housewarming” gifts to help pay for furniture, and I’m very thankful for that. My apartment is starting to feel more like a home — my home — than any other place I’ve lived in since leaving for college thirteen years ago.
Lower gas prices contributed to less fuel expense. Also, a week in Boston without driving much helped in this category as well. The computer category, which I label as “Computer and Electronics” is my software, includes a long-overdue high definition television and HD DVD player. So far, I’ve found the experience to be worth it.
For the third month in a row, my “household” expenses, including furniture, were higher than average. I’ve decided to pass on a new desk for the time being, using what I’ve had for the past several years. This month, I purchased a new bedroom set including a dresser, night table, and bed (headboard, footboard, and rails). It was delivered only yesterday. I’m not that impressed with the quality of the wood-like covering, but it looks rather nice from at least a foot away.
September should be more of a normal month unless I decide to continue my living room upgrade and purchase a surround sound receiver and speakers. Another relative has offered a housewarming gift to help pay for this if I find something I like. Also, I will be visiting my mother in California over Thanksgiving, so I should find a flight sooner rather than later.