Suns out, numbers are down, and expenses are up
What happened this last month?
If last month was all positive, this month went the opposite direction. We didn’t have a major influx to invest this month that helps to cushion the numbers either. Summer activities have started which means some summer expenses around them. Summer dance and the county fair mean purchasing things for both activities.
We were able to rebook our daughters trip to Europe. The cost was only $300 more than the last one. The trip goes to some more interesting places as well, so it worked out in the end.
Both car insurance and homeowners insurance were due this month and both increased quite a bit from the previous year. We evaluated switching, but it wasn’t enough of a discount to warrant going through the hassle. We’ll check again next year. Our annual pest inspection and warranty was this month as well.
We also decided to do some home improvements this month. Our storm door was replaced quite a while ago, but it was starting to swell from the weather and the door needed to be recapped. We also found that the LED wafer lights we had purchased for the kitchen would randomly fail. I was tired of replacing the boxes (and was running out of them), so I we decided to just replace all of them with a completely different brand. So far they’ve been working well.
Finally, I decided to get a new phone. I was able to get one off eBay that was new at a pretty good discount from the original price. I had been using Google Pixel phones for quite a while but decided to try out a Samsung Galaxy S22. It’s been several years since I’ve had a Samsung phone and I’m getting used to it.
If you’re wondering what I use to track our numbers monthly, we use both Mint and Personal Capital. Personal Capital has a lot of cool planning tools that I haven’t seen anywhere else. You can check them out and we both get $20: https://pcap.rocks/adam4058
Where did we spend the most?
Our monthly expenses increase quite a bit compared to last month. They were slightly lower than last June. Our expense numbers continue to improve from one month to the next. We still have some kitchen expenses that trail through the end of last year that will fall off, but we seem to be finding other things to replace them.
- $972 – Homeowners Insurance
- $890 – Car Insurance
- $660 – Storm Door & New Kitchen Lights
- $535 – New Phone
- $300 – Europe Trip
- $230 – Horse Stuff
- $171 – Wellness
- $155 – Annual Pest Inspection & Warranty
- $137 – Dance Stuff
The Money Related Numbers
46.27% to target number (previously 51.46%)
This is our invested assets/target number. Our invested assets span across a variety of investment vehicles such as 401k, HSA, IRA, Roth IRA, ESPP (Employee Stock Purchase Program) and standard taxable mutual funds.
73 months (previously 74)
The number of months until my 45th birthday and our finish date.
46.42 months (previously 41.83)
The number of expected months until we reach our target number based on our current expected monthly contributions, assuming a 10% annual return.
The Expense Related Numbers
9.92 times annual spending (previously 10.13)
This is how many multiples of our annual spending we have saved up towards our goal. For example, if this value was 9.1 and we spent $10,000 annually, we would have $91,000 saved up.
36.87 to minimum FIRE (previously 40.52%)
The minimum number to achieve FIRE is 25 times our annual spending. This number shows how close we are to the absolute minimum.
19.73 times annual spending at goal number (previously 19.69)
We have a goal amount that we’d like to reach. Given our current annual spending, this is how many times our annual spending we’ll have saved when we reach our goal number.
How Much We Invested
-58.64% Month to Month Change In How Much Saved (previously 245.27%)
This number shows the change in what we saved this month compared to the prior month in things like 401k, Roth IRA, taxable accounts, and Employee Stock Purchase Program.
-55.94% Month to Month Change in How Much Saved With Employer Contributions (previously 197.28%)
Same as the prior number, but with employer contributions counted.
1.78% Month to Month Change in 12 Month Savings Average (previously 21.64%)
This number show the change in what we saved this month compared to the prior month, but on a 12 month rolling average. This helps to smooth out months over time and shows a more general trend.
1.94% of 12 Month Average Net Income Invested With Employer Contributions (previously 19.84%)
Same as the prior number, but with employer contributions counted.