budget

January 2017 Financial Report

January month was not that bad to be honest. Looking at the figures, I made a profit of one dollar. Ha-ha. That is very weak actually. At least I didn’t go into a loss. Well, all these figures I’m about to show you was done on Sunday, the 29th of January. Since then I spent some cash on taxi and lunch but I only do my books on a Sunday.

I don’t want to bore my readers with too much detail. I’m just going to look at the big expenses for the month (not rent). I didn’t do a budget for January because I lost my phone with my data, but I will be doing a post on my February budget, based on January’s reports and last year February’s reports. I’m looking forward to that post.

View Balance Sheet for 31 January 2017

View Income Statement for 31 January 2017

Repairs and maintenance

January I got hit with repairs. The one I am not proud of, which was trying to take a selfie in the pool. Not one of my proudest moments. I ordered a new LCD screen from China. Should arrive here in March and then I have another repair bill on my hands cause I have to take the phone to a repair shop with the newly acquired screen for them to replace.

The other repair that I paid for this month was the repair of our toilet. We are renting, so I should’ve just called the body corporate people and asked them to fix it, but they are so strict that my wife and I thought it would probably be cheaper to just fix it ourselves.

I felt like a real man when I fixed the toilet. It wasn’t really that hard, but still, I did it. I come from a home where my dad hardly fixed anything around the house. The lack of repairs and maintenance around the house is one of my sister and I’s favorite topics of conversation. It’s one of the only things we can talk about.

Food

My wife is in charge of the food budget. That’s why it’s so low on my income statement. Everything to do with the car and food in the house is her responsibility. I do however buy something here and there when it’s required. I’m still not very happy with how high the food expense is, but it’s been worse (I will have more in-depth analysis on my food expense in a later post).

I am very happy with how low my snack expense is because it’s usually around N$200 every month. I work in a wholesale shop, so it’s easy for me to just walk into the store and buy me some snacks if I still feel a little hungry. My only goal for the year is to lose 25 kilograms this year, so I have to keep this expense as close to zero as possible. So far, so good.

Take-out is another culprit that needs hands-on management. My wife and I always buy take-out on a Friday because that’s what we are used to. Ever since we dated, Friday was take-out night/movie night. We don’t want to wash any dishes. We just want to chuck everything in the trash. It’s the end of a very long week, who still wants to spend their Friday evenings washing dishes.

Vacation and Donations

My lunch hour is almost over and I want to finish off this post now, so I will combine these two under one subheading.

Vacation expenses is an interesting one. My net-worth will take a huge nose dive after February month because my wife and I are planning to go to Cape Town, South Africa. Most of the money showing in my savings is for our vacation. So I won’t look that rich anymore. Not that I am rich at all, but it will be sad to look at my balance sheet when we return.

The money spent on vacation in January was for our camping trip, which lead me to breaking my phone (I don’t think I will forgive myself until it’s fixed).

Donations is way too high for my liking. This is another expense that my wife should be paying. I contributed the monthly church donation this month which she usually does. Other donations are for things such as sending money to my dad’s poker account because he doesn’t have a credit card (he never pays me back and I never ask for the money back) and then I’d donate some money to beggars in front of stores and so on. Still, I’d like it to be lower next month.

Well that’s it. Time is running out. Quick word on the balance sheet. My credit card is at zero. YAY! Sterns is a clothing store and I have an account there. This would’ve been at zero at the end of last year but my dad didn’t have money to buy my sister a birthday gift, so he asked me to charge it to my account and he would pay me back in installments. I haven’t listed my dad as debtor because I can’t bring myself to ask him for the money back. So I’m just paying off the account on my own. Hopefully he won’t ask again, and hopefully I can say no if he asks again. My dad also gives me a lot, that’s why I can just write off these expenses without thinking twice.

I also haven’t listed all my fixed assets yet. I’ll be selling one of my laptops and buying a 2-in-1 laptop/tablet. Hopefully I’ll get it after work today

Final note, transfer account is just money going from me to my wife and vice versa. I’ll write it off to the income statement at the end of the year or the end of every quarter to at least straight-line it a little.

That was a very long post and my lunch hour ended 14 minutes ago.

Thanks for reading. Until next time.

May 2016 Budget

This month is going to be a very tough month. May is a big month. May always seems to be the turning point of my year. By May, I already have a feel for what the year is going to be like and May also determines how the rest of the year will be like. This month, for the first time, I have my budget ready on time.

May 2016 Budget

1 Namibian Dollar (NAD) = 0.069 US Dollar (USD) as at 25-04-2016

We are going to a wedding at the coast. Traveling expenses, accommodation expenses and entertainment expenses go up. I’ve budgeted $750 for our trip to the beach which is this coming weekend.

May means the end of the English Premier League season (and most European football leagues). I made a couple of bets with some friends and I need to account for the losses I could potentially take on. I know I should have made a provision for this earlier this year, but it really looked like I wasn’t going to lose the wager. Lesson learned.

It’s my wife’s birthday this month, so I need to budget for that as well. Even though I should actually pay for her gifts with the next paycheck, but I get that paycheck a day before her birthday. I need more time to prepare for her birthday. So my savings fund is going to take a big hit this month. Hopefully I can refill it over the coming months.

My budget for other expenses is really tight this month. A lot of the expenses like food, entertainment, personal and mobile expenses are lower than their average monthly actual in the first quarter of the year. I have no choice but to keep it tight this month because I am already taking $1200 from my saving just to make it through this month.

I expect to come into some cash later this year, so even though my savings is going to plummet, lowering my net worth, it will pick up later this year. Also, my wife and I’ve been saving for a trip to Durban, South Africa with her family, but it seems the trip might be called off. We have an extra fund of cash for any emergencies now. Maybe we might decide to go on holiday after all with that money, but I like knowing there is extra cash if s*** hits the fan.

Well, this should be an interesting month, not only with regard to money. This month marks the end of the football season, the start of my school exams and the end of a financial year at work. I hope I can survive May.

Until next time. Thanks for reading.

 

February 2016 – Budgeted vs Actual

Finally I get to post my February results. Even though February was only two days ago, I’ve actually closed off February because I get my paycheck on the 25th. It just complicates things if I don’t close off the month before I get new money in because who’s to say what expense belongs to the previous budget and which expense belongs to the new budget.

I had to steal time from work to get this done. My time away from work is dominated by school and my wife, so my finances get neglected. I hope my boss doesn’t find out.

I am not going to go into too much detail here, just give a short summary. I am going to create a page for each month and you can find it under the menu item “Finances”. A link will be posted.

February 2016 Budget vs Actual results

February 2016 Budget vs Actual results

Summary:

Overspent categories

Entertainment:  These two expense items took a major hit. My entertainment budget was blown on the same day I received my paycheck. It’s been so long that I didn’t have money in the bank, so as soon as I got it, I went out for beers with my mates. Totally worth it.

Food:  The food is higher than I thought it would be. About 70% of the food budget was snacks. There are two outliers, the time my sister, my wife and I went for frozen yogurt and the other time I bought biltong (aka beef jerky). Hopefully there won’t be a repeat of that, but I’ve adjusted my new budget.

Underspent categories

Transport: I didn’t use the cab as much as I thought I would. My wife uses the car cause she needs it for work to run a couple of company errands, but she drops me off at work in the mornings. In the evenings I take a cab to school and then back home. I budgeted a little extra if I have to catch a cab to anywhere else beside school and home. I lowered this budget in the new month.

Donations: I feel bad that this category is underspent. My wife and I didn’t go to church in February, well we did, to another church, but not to our church. Therefore I didn’t spend what I set out to. I’m definitely going to church this Sunday.

Personal: This one is a bit of strange. I usually spend a lot on myself. I guess I didn’t as much this month. Whoop whoop.

Savings: I can’t remember when I posted about the Bank Your Change, a savings initiative from my bank whereby every time I use my debit card to purchase something at a store, the bank deducts an extra amount over and about the purchase price and then puts that money into my savings account. I didn’t reach my budgeted savings for this initiative because I forgot one crucial detail, I don’t do the grocery shopping anymore, my wife does. So I’m not saving as much as I would. I could’ve just transferred the money I didn’t save by using my debit card, but it’s easier to save when you know you aren’t saving.

Well that’s it for February. Not a bad month after all. The Volleyball Tournament my friends and I played was a huge success. No categories have been grossly overspent and my net value is moving in a positive direction. More on that soon and I’ll post my March budget as well.

Until next time. Thanks for reading.

The gift fund

After the fiasco of buying Mrs Lakendary’s friend a gift for her birthday, I told Mrs Lakendary we need to have a serious chat about gifts and how we are going to tackle it this year. She seemed a little hesitant but then I took initiative and created a list of people who will be getting gifts from the two of us for Christmas, birthdays, mothers and fathers day. She was pretty shocked at the length of the list and finally we got to talking.

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Throw Back Thursday – Wish/Reward List

Back again for another installment of Throwback Thursday, the goals edition. I’ve gone through my old stuff and stumbled across some goals I set for myself. Before I set my goals for 2016, I first want to go through these goals I previously set and come up with a new and improved list.

This week I’m sharing my reward/wish list. Like every time I ticked off a goal from the list and I would get myself one of these bad boys., but I didn’t follow this system. I bought something when the money was available. So here is my wish list:

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Stress

Good Morning. Let the stress begin...

Stress

The last week or so have been an absolute nightmare. Work just seems to get worse and worse everyday and I am slowly starting to regret moving there for the new pay increase.

The work load is immense. So immense that the managing director noted this and told the rest of the office to drop everything their doing and help me with my work. It helped a little but I am still under a lot of pressure. Today there was a light at the end of the title. Someone has been appointed to aid me permanently. Things seem to be looking better but I don’t think I will feel the workload getting lighter now. It may take up to a month. The new credit clerk needs to be trained and must get to know the ways before I start feeling the effect of her work.

Unfortunately because of the stress at work everything else in my life took a back seat, especially my finances. I stopped recording transactions. I went out for beers more often. I ate take out more often. I stopped making lunch and eating breakfast at home. I was just not following my normal routines. I was properly depressed. The days I didn’t go out drinking, I just came home and got into bed.

To this day while I am typing up this blog post I still haven’t updated my budget for August or September. I recorded all my debit card purchases but nothing about cash over the past two weeks. I feel like I am drowning and I cannot come up for air. I want to finish it, I really do, but work just takes out so much of me that I have no energy to do anything when I get home. It doesn’t look like I will make all the goals I’ve set at the beginning of the year and at June. My first three months at this job has been stressful.

I can only hope that this will shape me and turn me into a stronger person. I hope that things will become better over time. If I don’t see an improvement by the end of October, I will start looking for work elsewhere. Even if I have to take a pay cut. The money is not worth all the stress.

Mo’ Money, Mo’ Problems

Mo’ money, mo’ problems

Dear readers

It’s been awhile since I posted anything on my blog. I just started the new job and it has been insane to say the least. I have to do the job of 3 people. My boss is fully aware of this and is trying to hire someone to assist me. They didn’t think that two people were needed for my job, but in the past, before the company bought over, there were two people doing this job. I just can’t understand why they decided to only recruit one.
Also with the new takeover, the company installed new computer software that the old workers don’t understand and weren’t trained to use. Why would anyone install new software and not train their employees is beyond me. Everyday I am either reporting an issue or trying to fix it. I already have so much to do, now I still have to fix errors.
So I have had a rough time at work over the past month and a half. When I get home I go straight to bed and pray tomorrow will go better, but no matter how hard I work, the work load doesn’t seem to get any less. It just gets more with each passing day. The new guy needs to start soon so I just have some breathing room and time to relax.
As for my finances. I’ve managed it well. I spend much less on food nowadays. I only have take out on Fridays but take lunch to work on Mondays to Thursdays. It’s usually a sandwich. Sometimes it would be leftovers from the night before. I have cereal in the mornings and take a fruit with me. I use to take two fruit, a banana and an orange. I noticed that most times I didn’t eat the orange and the oranges would just go off. So now I am just sticking to bananas. I also bought a big bag of chips (50x 20g packets). I took a packet of chips along each day, but now I’ve switched to yogurt.
I still can’t bring my entertainment budget under control. I just don’t have the discipline to say no to my friends when they go out and have a couple of beers at a bar. I also buy myself a beer now and then when I’ve had a rough day at work which seems to be a lot lately. I have a TV and an Xbox at home. I’ve tried to invest in games so that I don’t go out so often. I just need to try that more often.
So a big plus on the food side but a big negative with the entertainment. Overall I am happy with my finances. I think recording every single transaction is a habit now. I never thought I could do it, its four months now and I haven’t missed one transaction. New habits can be learned. Habits I am working on now is taking lunch to work everyday and making sure everything is in order at night for the next day. I hate going to work in rush because I did not prepare for the day properly.
I also want to start jogging. See how that goes. I am slowing starting to become overweight. My belly is way too big for my liking. But I will start slow. I read an article of not having zero days. So even if I just go for a walk or do a couple of push-ups, I shouldn’t skip a day of exercise. If I can keep it going for 90 days, I’m sure it will be a new habit as well.
Well, thanks for reading. I have to catch up on some reading myself. I’m hoping next month will be better than the last.