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May/June/July! |
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thewh00sel  United States. Aug 02 2012 22:24. Posts 2734 | | |
The summer was extremely hectic with a lot of poker playing going on and not much time for blogging. I'm back to update you all with my progress now though! I'll start off by laying out my expenses and then break down categories that are noteworthy.
May: Total spending $6,371, Total Income 18,243 Savings Rate: 65%
Expenses went up this month due to needing some supplies to repair the pool and not enough discipline in the food department. Luckily my savings rate was saved by a high income month.
Expense breakdown:
Home- 2,590
Had to replace the filters in the pool which added $500 to normal costs
Auto & Transport- 1,259
This number is inflated because of the second car payment, along with putting extra money toward the payments each month.
Health & Fitness- 898
Food/dining/toiletries- 742
Bills & Utilities- 451
Shopping- 105
Business Services- 110
(Casino Tips)
Fees & Charges- 0
Entertainment- 14
(Random stuff on itunes)
Personal Care- 150
(Massage Envy, last month of paying for it)
Travel
Gifts & Donations- 52
June: Total spent $6,121, Total Income 11,037, Savings Rate: 45%
Expenses went down a little bit from May, but unfortunately it isn't in the 5k range that I'd like to see. I was kind of saved by the income, but if I were down to 5k per month in expenses my savings rate would have been up into the mid-fifties...need to cut the fat.
Expense breakdown:
Home- 2100
Number is back in normal range this month
Auto & Transport- 1467
Had to get new tires and an alignment for one of the cars.
Health & Fitness- 802
Food/dining/toiletries- 500
Cheaper bc a lot of my meals were comp'd at the casino
Bills & Utilities- 734
Hotter month = more A/C
Shopping- 322
Bought my wife an iPad as a graduation gift.
Business Services- 50
tips, etc. The number is half of normal because I hardly valet parked since Rio surface parking is more convenient than Bellagio's.
Fees & Charges- 0
Entertainment- 71
Went to the movies and random other activities.
Personal Care- 0
Education- 0
Travel- 0
Gifts & Donations- 0
July: Total spent $8,730 (yikes), Total Income 12,435, Savings Rate: 30%
This month was very disappointing. I guess almost 1k went toward fixing up the house (wood floors) which is debatable as to whether the value added is equal to expense. But even accounting for that I was at 8k in expenses. Of course it all adds up below, and I think the trip to the Zoo with my family was worth the cost, but I just didn't think I was spending that much as I was living it. I guess that's a common problem and a big reason why people fall into debt so easily. Definitely a reality check and my first real slip-up of the year in terms of expenses. Thankfully I had another winning month and managed a 30% savings rate, but that's well below what I want my savings rate to be.
Expense breakdown:
Home- 2900
I tore up the carpet and bought and installed laminate floors in my living room. Did the labor myself so saved 300-400$ there so I'm happy about that.
I think it looks pretty good though :-D even in these bad quality picS.
Before
After
Auto & Transport- 1733
Had to get two rear tires for the Fit. One had a slow leak, and they were getting pretty old (Original to the car in 2009). Will likely have to replace the two fronts before the end of the year.
Health & Fitness- 802
This number should drop by a couple hundred bucks next month because a $350 recurring hospital bill will be paid off this month.
Food/dining/toiletries- 927
Kind of embarrassed of this number. We spent way too much on eating out and just kind of lost track of spending in this category. Hopefully next month is back to normal as we JUST went to the grocery store and spend 200-300 dollars on the last day of July.
Bills & Utilities- 943
Even hotter month = MORE A/C!
Shopping- 200
I'm not sure if it should be in shopping or business, bc my wife bought a bunch of stuff on Amazon for her classroom (just got hired for next year). But w/e I'll just leave it in shopping
Business Services- 110
I'm strongly considering avoiding Valet parking in the future. I'm going to do a write-up on the pros/cons and the perceived value that I've been using as an excuse to Valet park and decide if I think it's worth it to continue doing it.
Fees & Charges- 0
Entertainment- 400
Took my family to San Diego for my wife's BDay. Spent various amounts on hotel/zoo tickets/concessions/etc
Personal Care- 0
Education- 0
Travel- 750
Various plane ticket/hotel bookings for August poker trip.
Gifts & Donations- 0
Summary
Adding these 3 months to my current totals my yearly savings rate is now at 41%. That gives me 5 months to attempt to raise that rate to my goal of 65% for this year. Sorry for the extended delay of updates. It seems like lack of blog updating correlates to laziness in other areas such as fiscal responsibility so I will try to keep both of those on track in the future.
-wh00sel
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| A government is the most dangerous threat to man’s rights: it holds a legal monopoly on the use of physical force against legally disarmed victims. - Ayn Rand | |
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2c0ntent Egypt. Aug 03 2012 03:36. Posts 1387 | | |
good stuff
living room looks nice, and better for the new floor, but damn it i like the feel of carpet under my feet |
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| +- | Last edit: 03/08/2012 03:37 |
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SolarM Germany. Aug 03 2012 09:12. Posts 533 | | |
Nice life. Tell us some more about Poker |
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Venrae United States. Aug 03 2012 16:51. Posts 1545 | | |
How the fuck is your health&fitness monthly >$800? That's more than I pay for rent&utilities |
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| Learn to appreciate the value of the dollar. The rest is easy. (Hurricane @ TL) | |
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Endo United States. Aug 03 2012 20:36. Posts 953 | | |
Lol you're not hitting 65%. I don't think you can average 80%+ savings rate for the next few months. |
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RiKD United States. Aug 04 2012 16:14. Posts 9041 | | |
what is the reason for wanting your savings rate so high?
i assume you purchased your home?
i am no expert but it just seems silly to me to be saving so much and likely getting not so great returns on your money when you already have a nice asset in a home and already have a way of making good roi on your $$$ in poker. also, so little on "education/progression" never seems to end up good. i'm not trying to be an ass just playing devil's advocate to start a discussion on an interesting (at least to me) topic. |
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glad your taking it very seriously as poker players should |
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thewh00sel United States. Aug 05 2012 00:26. Posts 2734 | | |
| | On August 04 2012 15:14 RiKD wrote:
what is the reason for wanting your savings rate so high?
i assume you purchased your home?
i am no expert but it just seems silly to me to be saving so much and likely getting not so great returns on your money when you already have a nice asset in a home and already have a way of making good roi on your $$$ in poker. also, so little on "education/progression" never seems to end up good. i'm not trying to be an ass just playing devil's advocate to start a discussion on an interesting (at least to me) topic. |
When I say "savings rate" that just means money that I didn't spend. It doesn't mean I'm socking it away. So I'm still using that money for my bankroll, etc. So the reason I'd like it to be very high is more that I want to keep my spending rate down, which allows me to move up stakes faster, and just have more money in general. Hope that answers the question that you were asking. |
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| A government is the most dangerous threat to man’s rights: it holds a legal monopoly on the use of physical force against legally disarmed victims. - Ayn Rand | |
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RiKD United States. Aug 05 2012 11:03. Posts 9041 | | |
Yeah, that clears everything up. I just like engaging in these topics b/c I've seen so many poker players (me included) punt off money in money making avenues they know nothing about (anything that isn't poker). This is basically human beings in general but poker players actually have a money making avenue they are experts in.
To play devil's advocate again:
Spending increases motivation.
Investing in playing in higher stakes is the best way to allow you to move up stakes faster.
Winning at higher stakes is the best way to allow you to have more money in general.
Disclaimers:
Key Word: Winning
Also: I am not married and do not have children.
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