Tuesday, 4 June 2013

May 2013 Expenditure Tracker

As I mentioned in my May 2013 net worth post, I spent too much and, as a result, did not save enough in May 2013.  The result would have been a lot worse but for the fact that I actually received cash this month for 'group expenditure' items which have to be paid off next month.  Much like March 2013, this month really bites however I am also going to have a bad result next month which I will discuss further below.

ItemMay 2013TargetOver/(Under)
Share Investments+$1,563+$2,000-$437
Offset Acct.+$1,945+$3,500-$1,555
Personal expenditure+$4,312+$2,200+$2,112

The major movements in my 3 accounts are listed below:
  • Share investments
    • This month I did not actively transfer any funds into my share investment account however I did actually put more money into the market
      • I normally have a certain amount that sits in my share trading account and I count this as money invested in shares 
      • This month I did not transfer any funds into this account however made 2 purchases of shares - one of a resources index fund per my post on a buying opportunity at the start of the month and the second a purchase of shares in an Australian share index fund at the end of the month
    • I also continued to contribute to my employee share investment plan
    • This month also saw some DRP shares come on which helped increase my share holdings for the month
    • With all these affects I was only slightly below my target investment level
  • Home Loan Offset account
    • This month had several countervailing factors affecting this account
      • I could not save as much because of my personal expenditure which ran much higher than expected (see below)
      • The decrease in home loan interest rates meant that my interest cost decreased materially
      • I had several utilities bills (water, rates etc) fall duet his month.  These fall due on a quarterly basis and are fairly stable but
    • Cumulatively I under-invested by about $2,000 for the month
  • Personal expenditure
    • I am still having trouble getting this account under control - what seems to happen is that I will have a very bad month and then will try and control my expenditure and then have a good month which will go bad
    • Last month I had quite a bad month and so had to pay back a rather large credit card bill however this month I had several expenses I had not foreseen which also affected my personal account including
      • An $800 maintenance bill for my car
      • Going on 2 weekend trips and booking an short overseas holiday with my new girlfriend
On a cumulative basis my performance from the start of 2013 can be seen below:

ItemJan 13 - May 13TargetOver/(Under)
Share Investments+$6,637+$10,000-$3,363
Offset Acct.+$8,189+$17,500-$9,011
Personal expenditure+$22,137+$11,000+$11,137

My personal expenditure is still a major negative drag on my investment accounts which I am looking to remedy.  I broke it down last month and although I allow myself $2,200 in personal expenditure for the month about half of this (~$1,100) goes out before I even think about it for things like rent, gym membership and charitable donations.  I think it should be possible to survive on $1,100 a month on non essentials but the last few months have seen me run at approximately double to triple this.  I am going to continue to try and bring it down.

My credit card bill for June is huge and that alone has busted through my personal expenditure target.  However I have been trying to save more so hopefully July will result in a better outcome.  At June I will do a 6 month evaluation of how I have been going.

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