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Monthly Expenses: October 2016

My Expenses For October 2016

 

This month was hefty, even after deducting my annual property taxes I spent $3,465. Meaning I would need a little over $1 million invested in order to generate that level of income.

I ate out quite a bit, nearly $250 worth.
I spent over $1k on entertainment doing thing socially.
I spent money on a vehicle because we now have a car in the household.
I spent over $700 on clothing which should last me several years.
And finally I spent over $300 on gifts.

I don’t like being overly nitpicky, it doesn’t much matter what I spent in October as long as it was important to me. The point however here is that my spending last month wasn’t in line with my priorities. I need to work a bit harder on closing that gap in order to remain on track to meet my goals.

I don’t have $1,000,000 saved up and invested, so I don’t have any business spending $3.5k a month. I’m fortunate that I can cut my expenses so that’s what I need to work on.

Cutting Back On Entertainment Spending

It’s not like I’m missing out on entertainment, I’m not trying to deny myself anything here. In the US, in the year 2016 there is likely more free entertainment than there ever has been in the history of this world.

My entertainment spending was mostly on dining out and drinks when socializing. I love seeing my friends and meeting new ones but I don’t see a need to spend that much money, more money than some spend on rent.

I have a bigger belly to show for it, yet another downside to spending too much on entertainment.

I will try to go back to cooking more at home, sticking to coffee when hanging out socially and working out more when I’m in need of social stimulation.

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