June 2018 Income & Expenses

waterfallRocks
3 min read

At the end of each month, I provide a recap of every dollar I earned and spent.

Related: May 2018 Income & Expenses

I share these numbers because I have always found it insightful to see the real numbers behind a blogger’s financial journey. I love talking about how to earn more and save more, but it’s helpful to provide a behind-the-scenes look at how I’m actually managing my own money.

Income

Here’s what my income looked like in June along with the previous three months. All numbers are post-tax.

Monthly Income Streams
  March April May June
Passive
Income
CVS Stock      $9.75  
KR Stock  $5.07      $5.10
WPC REIT    $101.85    
OHI REIT      $91.15  
JCAP REIT    $54.37    
LADR REIT    $96.70  
VDC Fund  $27.07    
VYM Fund  $14.92    $15.57
VTI Fund  $6.97    $21.15
Ally Bank Interest  $9.64  $12.42  $14.22  $17.37
Side Hustle
Income
Blog Income $516 $653 $1,120  $577
9-5 Income
Data Scientist $4,670 $4,827 $4,827  $4,670
Total Monthly
Income
$5,506 $6,362 $5,784  $5,306
  March April May June

Here’s my June income according to type:

incomeJune2018.JPG

Expenses

Here are my June expenses generated from my Monthly Spending App:

app_expenses_june18.JPG

app_expenses_june18_bar.JPG

app_expenses_june18_scatter.JPG

Total June Spending: $1,886

The Net

Here’s a visual look at my total income, expenses, and net savings in June:

incomeExpJune2018.JPG

June Savings Rate: 64%


Recap

I saved 64% of my total income in June, which is a number I’m pretty excited about. 

The bulk (88% / $4,670) of my income came from my 9-5 job, a small portion (11% / $577) came from the blog, and a tiny amount (1% / $59) came from stock dividends and interest. 

The blog has become a reliable source of extra income each month, adding at least $500 to my bank account each of the past four months. This is by far my favorite form of income because I essentially get paid for something I would gladly do for free (and did for about a year). 

If you told me even one year ago that I would be able to pay my rent each month entirely through blogging I would have laughed, but in a short amount of time that has become a reality and it’s an incredible feeling.

Related: If you’re interested in starting your own blog, check out my page here for a simple guide on how to get started.

My total spending this month came in at $1,886. My rent and car payment/insurance accounted for the bulk of this, coming in at about $1,000. Since these two core expenses are so low, I’m able to keep my total monthly spending fairly low without much effort.

Related: The Perks of Living in a Place Much Smaller Than I Can Afford

Looking Ahead

My apartment lease is up in two months and I have my eye on a new one-bedroom apartment fairly close to where I currently live that has a $650 monthly rent. This means my housing and transportation costs will stay pretty consistent over the coming year at $1,000 per month and I should be able to continue to save 60%+ of my income.

Assuming the stock market doesn’t take a nosedive, I’ll likely be able to increase my net worth to $160k – $180k by next summer. At that point, I’ll have some serious financial flexibility and be able to contemplate quitting my job depending on what type of income I’m earning outside of my day job.

Until then, I’ll continue providing updates along the way.

That’s all for this month, thanks for reading 🙂


My favorite free financial tool I use is Personal Capital. I use it to track my net worth, manage my spending, and keep an eye on my monthly cash flow. It only takes a few minutes to set up and it makes tracking your finances simple and easy. I recommend trying it out.

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Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.

8 Replies to “June 2018 Income & Expenses”

  1. That’s amazing that you are able to live on less than $2,000 a month. I did that in college a decade ago, but alas I must have succumbed to some lifestyle inflation somewhere along the road. We’re trying to keep our monthly expenses under $5,000, but have yet to actually reach that, we’re usually just over that amount.

    Keep those expenses as low as you can for as long as you can!

  2. Hi Zach, this is my first time commenting on your blog. Just wanted to say that I enjoy your posts, especially these end-of-month summaries. I’m a 27 year-old software dev (started 10 months ago) also striving to save up and live below my means, and these posts encourage me. I get kinda bummed sometimes when I look around and see so many of our peers saving nothing and burning up their paychecks each month. It helps re-motivate me knowing there are other like-minded twenty-somethings out there who are thinking long-term. Thanks!

    1. Thanks for the comment, Jon! Always great to meet a like-minded 20 something. Software dev is a great field to build up some serious savings if you’re able to live a fairly frugal lifestyle. It can also have side hustle opportunities. Best of luck on your journey and be sure to stay in touch!

  3. I’m able to save 25% of my income each month. Since I work part-time, it’s certainly not substantial. However, it came in handy when my car needed repairs and my md went concierge.

  4. Ugh… you had to inspire me to create another visual didn’t you!
    Things I’ve gained from FPF this year thus far:
    – more practice with Excel
    – inspiration to create charts and graphs to visualize my savings, income and expenses trends (just creating new one now…check it out later this wknd)
    – a space to feel not so alone grappling with the psychology of personal finance
    – not being intimidated by spreadsheets
    – someone else starting out near the start of financial independence
    – less clutter on my blogspace
    – excitement to keep pace with blogging/financial independence (i.e. your post on how long it all takes, posts on getting to that first 100k and all the good things that happen afterward)
    Favorite posts: the scribbles from your night recaps from 2017 + the four pillars post with the happiness component (<< that was a good hook).

    Thank you! That's all ! 🙂

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