income

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.

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.