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Tuesday, 19 May 2020

April 2020 Update


Covid-19 | New Scientist Happy Pandemic month. It's been very bland

April was such a bland month I really struggled to write this extended intro. I've been putting it off all month and now I haven't got anything to say. At the end of April, I couldn't remember April, and now three weeks later I really can't remember it. 

Goals For 2020

Goal #1: 50% Savings

I have a confession to make: I'm a FIRE blogger and my savings rate sucks.


At the end of The Year of Investing in 2018, my savings rate was sitting comfortably at 55%. At the start of 2020, it was a weenie 35%. 
Getting my 3-year average savings rate to 50% is going to be next to impossible, but I'm going to track it for interest. The actual goal is for this 12month period to sit comfortably above 50%.

April Rate: 49%
2020 Average: 41%
Three-Year Average: 37%

The good news about April is I counted Marches rents in my income. The bad news is that I gave my tenants four weeks free to get through till their CentreLink payments came in and so I won't be seeing any income in May.  

Goal #2 Reduce Average Spending by 10%

Having two investments has gotten expensive, and my spending has been creep-creep-creeping. From an average $3,500 spending back in 2018, now I'm sitting at $4,800 at the start of 2020.


The goal is to reduce my average spend by 10% from January - excluding donations. My goals to do better with my money shouldn't limit my hopes for changing the world

April Spend: $3,566.95
2020 Average Spend: $4,794.91
Goal Spend: $4,378.30 (or less)

I managed to spend both not much and a lot. COVID life is weird.  

Spending

Here's what I spent in April, which includes the save-to-spend amounts.  


Category
Spent
Budgeted
12 Month Average
Home$838.68$875$883.54 (up $1.79)
Over Budget. Just the mortgage and a quick trip to Bunnings for... something, I didn' write it down.
Original Investment Property$1,004.75$1,190.83$1,148.44 (down $52.67)
Under Budget! Mortgage plus water bill.
Home turned Investment Property$859.38$1,042.33$1,226.16 (down $259.36)
Under Budget! Mortgage and insurance, but interest rates are on the floor, so the mortgage is wild cheap.
Personal Bills$127.26$127.33$127.26 (no change)
Under Budget! So this is basically it until either my health insurance premiums change, or I get a new phone. 
Groceries$234.19$190$206.55 (down 23cents)
Over Budget. I scored a 48 box double-length rolls from Who Gives a Crap! It's a good price per roll, but it does mean I spent $54 in one go. 
Pets$205.69$50$60.54 (up $6.54)
Over Budget. Did a get a dog? No. Did I get all the things I need for a dog? Mostly. 
Roller Derby$120$175$265.28 (down $4.58)
Under Budget... Just like last month, I spent nothing, but I put aside money for new skates. We cancelled training till COVID blows over and it looks like we might be back in June.
Travelling$0$122.50$204.80 (down $9.16)
Under Budget! Nothing... we had a lighter lockdown than the rest of the world, but I've only left my house for jogging, food and a couple of puppy-play dates.
Comfort Food$125$40$73.35 (up $7.08)
Over Budget. I bought a mix box of 15 wines. All prepped for Winter now
Donations$0
$91.67
I ended up extending my tenants two weeks rent-free to four weeks. Other than that, nothing exciting.
Other$52$187.00$241.40 (down $4.54)
Under Budget! So I was wondering what I spent and the answer is actually nothing. I just put aside some money for a new pair of glasses and some house updates.
Total$3,566.95$4,000$4,528.98 (down $223.61)
Total ex. Donations$3,566.95
$4,437.31 (down $406.94)
Under Budget, with 6 out of 10 categories under! There really is nothing much to say about April. Nothing happened. Which I guess is a good thing during a pandemic. 


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