This should be an interesting month. Even without running the numbers, I know that my savings rate is extremely low due the the girlfriend moving in. But I’m curious as to how I did, so let’s get to it. Here’s the state of my finances – 05/2015.
Net Worth
- Taxable portfolios (includes cash in money market accounts): $67,955.19
- Tax-deferred portfolios (my IRA; includes cash in money market accounts): $41,800.18
- 401(k) (includes employer match): $25,298.00
- Hard assets/commodities: $2,968.00
- Listed at purchase price, not appraised value
- Cash and cash equivalents: $6,856.24
- Debt: – $0.00
Total Net Worth: $144,877.61
This is a 1.01% increase from the last time I calculated my net worth, which was $143,425.50 at the end of April 2015.
Income/Expenses
- Rent: $975.00
- Bills: $211.78
- Car maintenance: $607.22
- Gas: $112.51
- Groceries: $345.21
- Medical expenses: $562.27
- Discretionary expenses: $2,414.69
- Trip to girlfriend’s graduation: $213.92
- Food: $294.95
- Gems: $166.58
- PS4: $554.77
- Trip to grandparents: $641.67
- Everything else: $542.80
I saved -20.40% of my income this month.
Dividend Income:
- 05/01/2015, YUM – $5.80
- 05/08/2015, CLX – $6.87
- 05/08/2015, AXP – $26.30
- 05/14/2015, AAPL – $2.60
- 05/15/2015, O – $23.95
- 05/15/2015, AOS – $14.10
- 05/15/2015, CL – $3.42
- 05/15/2015, KMI – $23.59
- 05/15/2015, PG – $22.87
I also received 25 shares in BBL’s new spinoff of South32 Ltd (SOUHV).
This month, I earned $129.50 in dividend income, sans spinoff. My yearly total of dividend income is now $1,300.49.
Thoughts:
For net worth: Not much to say. Didn’t get to save much, but didn’t lose much due to market fluctuations. Given the circumstances, I am happy.
For income/expenses: Oooo, lots of expenses. So what happened?
Automotive: I had a recall on my car that had to get fixed. But when they were tinkering around with it, they noticed that something was wrong with the connection between a tire and the axle. Now, I don’t speak mechanic, but I saw that was really serious, so that meant I had to get it fixed ASAP. So there goes $600. As an aside, that not that bad. It’s only the second repair I’ve needed to do since owning the car. It’s 9 years old, so to have spent less than $1,000 in necessary repairs ever is great!
The medical stuff was also expected. I had a big bill from a few months ago that my doctor and I tried to challenge. Insurance didn’t cover it, even though we felt it should have been covered. Blah blah blah, insurance were assholes, and I had to pay it anyway. Guess I should have bought stock in an insurance company after all as revenge …
The rest is expected but a little frustrating. The graduation was expected, as was the trip to Michigan to visit my grandparents. She’s been wanting to meet them for a long time, and happily, everyone likes each other! She’s officially got the seal of approval from my grandparents 
I also showed her around my hometown, as well as some other fun things. The PS4 was her graduation gift, and we love it a lot and play it together often. Still clearly not the best thing to buy when my expenses outweighed my monthly income. Same with the gems and a few other things.
So all told, I am not thrilled. I know that this is a one-time thing for a very worthy reason, but it’s still annoying to see a negative savings rate. So what are we going to do about it? My girlfriend and I actually sat down and talked about it, and we’re going to try operating on a budget in June. She and I both see the need for it, and we both agree it’s definitely worth trying. We talked about it, and we feel that $2500 is a reasonable place to start. We’re shooting for $1800 for essentials, $400 for a known bill coming up, and $300 for discretionary fun stuff. It’s not very extreme, but it’s a start, which helps ease us both into living with a budget. We’ll adjust it as we go, and we shall see how it goes! I’m definitely glad she’s so willing to try it.
For dividend income: A slower month, but expected. I could pay for my gas bills with the income earned!
How’d May go for you?
Disclosure: Long all listed above. My Financial Stats archive page has been updated accordingly. Image source is available here.
13 Comments
Not a bad month considering all of those extra one-time expenses. Though I think the PS4 is a mandatory expense that should be included on everyone’s budget
.
Ken
Dividend Empire recently posted…Dividend Empire Portfolio – May 2015 Update
Hahaha, my girlfriend definitely agrees with you. A little bit more debatable for me, considering I’m an Xbox fanboy instead …
Hey DD!
I’ve been wanting a PS4 so badly and holding off on it month after month because I’m obsessed with saving. Have considered socking away some capital per month to purchase it after a little while, but who knows…
Your next month will definitely see some legit savings, especially if you’re trying to operate on a budget. I just tried my first month on a budget and man, it’s not fun – and also really hard.
Good luck
DB
Dividend Beginner recently posted…Dividend Stock Analysis: Canadian Natural Resources Ltd (TSE: CNQ)
Hey mate! I really recommend the PS4. Not exactly “frugal”, but worth it anyway. We got the bundle with The Last of Us, and also picked up Minecraft, GTA V, and Bloodborne. Haven’t got around to playing Bloodborne, but the rest are top-notch. I’ve found that budgeting for future purchases works pretty well. Save $200 a month or something, and in three months you have either “earned it” and can buy it without regret, or you can move on for something else. We’re doing that currently for some other things, putting it in our new budget. Heh, I tried a budget before; wasn’t really my style. Hopefully, we can support each other and work with it. Good luck with yours!
You’re doing Awesome Mark. Glad to see your back in the game. Enjoy the new chapter together and wish you 2 the best. Keep up the hustle bud. Cheers to our journey!
Dividend Hustler recently posted…May 2015 Dividend Report
Thanks, Tyler! All the best to you too.
Solid progress Mark. Your net worth and dividend income are impressive for someone in your age. Keep up the great work.
Tawcan recently posted…Have-Do-Be or Be-Do-Have? That is the question!
Thanks!
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This kind of post really help to have a clear view of our personal finances.
Love to read. Keep going!
Nuno recently posted…Dívida Pública Portuguesa – ABR/2015 – Dados do Banco de Portugal
Glad it helps, thanks for reading!
PS4 rules! 😉 Keep up the good work!
Mike
DivGuy recently posted…Retirement, What Retirement?
Thanks!