August 2018 Financial Update

 

August 2018 Financial Update

Since I still believe in some version of financial anonymity, all of my updates will be in percentages.  If readers don’t find this helpful or want to have the actual dollar amount, please comment below.  In your comment, explain whether the percentages are too abstract or if you are more motivated by seeing nominal dollars (i.e. low spending, high savings amount, charitable giving amount, etc.).  I may change my reporting methodology based on any feedback received.

Monthly bottom line financials:

Summary %
Income 100.00%
Charitable Giving
11.76%
Taxes 16.11%
Necessary Expenses 60.35%
Investment Spending
12.37%
Discretionary Spending
9.86%
Unallocated Cash
-10.45%

Gross Savings Rate (total saved divided by total earnings): 1.92%

Net Savings Rate (total saved divided by earnings less charitable giving and taxes): 2.66%

Read moreAugust 2018 Financial Update

FB Marketplace – The Easiest Way to Clean Your Garage

Facebook Marketplace – The Easiest Way to Clean Your Garage

This may come as a shock to some of you, but Jim isn’t a very good Millenial.  Sure, he was born in the ’90s, but as far as what all the kids are doing these days, he is far, far behind.  He thinks Instagram is some type of quick scientific weight measurement technique, Snapchat is what happens when you are talking to your lunch mates as you close up your Pyrex of rice and beans, and Facebook is what you’re doing at the library.

Okay, that last one was a joke.  I know about Zuckerberg’s brainchild and have actually participated in the past, but haven’t done so in 4 years.

Anyways, a couple of weeks ago I overheard some young whippersnapper at church talk about listing a bicycle they found in the woods (rusted chain, fenders and broken seat) on Facebook Marketplace for $20 and it sold within a week.  The person didn’t even have to leave the comfort of their home to offload the bike and deposit the cash in their pocket.

Needless to say, Jim was hooked.

Read moreFB Marketplace – The Easiest Way to Clean Your Garage

July 2018 Financial Update

July 2018 Financial Update

Since I still believe in some version of financial anonymity, all of my updates will be in percentages.  If readers don’t find this helpful or want to have the actual dollar amount, please comment below.  In your comment, explain whether the percentages are too abstract or if you are more motivated by seeing nominal dollars (i.e. low spending, high savings amount, charitable giving amount, etc.).  I may change my reporting methodology based on any feedback received.

Monthly bottom line financials:

Holy Sweet Banana Farts, did Jim spend a ton of money this month!

Summary %
Income 100.00%
Charitable Giving
15.50%
Taxes 10.03%
Necessary Expenses 111.78%
Investment Spending
13.91%
Discretionary Spending
9.01%
Unallocated Cash
-60.22% Yikes, cash reserves got hit hard!

Gross Savings Rate (total saved divided by total earnings): -46.32%

Net Savings Rate (total saved divided by earnings less charitable giving and taxes): -62.20%

Read moreJuly 2018 Financial Update

June 2018 Financial Update

 

June 2018 Financial Update

Since I still believe in some version of financial anonymity, all of my updates will be in percentages.  If readers don’t find this helpful or want to have the actual dollar amount, please comment below.  In your comment, explain whether the percentages are too abstract or if you are more motivated by seeing nominal dollars (i.e. low spending, high savings amount, charitable giving amount, etc.).  I may change my reporting methodology based on any feedback received.

Monthly bottom line financials:

Summary %
Income 100.00%
Charitable Giving
15.94%
Taxes 9.95%
Necessary Expenses 52.66%
Investment Spending
21.81%
Discretionary Spending
8.11%
Unallocated Cash -8.48% (dipped into cash reserves a bunch!)

Net Savings Rate (total saved divided by earnings less charitable giving and taxes): 18.00%

Gross Savings Rate (total saved divided by total earnings): 13.34%

Read moreJune 2018 Financial Update

Modifying the Cargo Bike for Baby

As briefly mentioned in the May financial update, my family grew in size this last month and we now have an additional member to tote around.  After the transportation post, Jim decided it would be the best approach to see if he could modify the cargo bike to more safely accommodate a passenger under the age of 1. This is the tale of the endeavor.

Read moreModifying the Cargo Bike for Baby

May 2018 Financial Update

May 2018 Financial Update

Since I still believe in some version of financial anonymity, all of my updates will be in percentages.  If readers don’t find this helpful or want to have the actual dollar amount, please comment below.  In your comment, explain whether the percentages are too abstract or if you are more motivated by seeing nominal dollars (i.e. low spending, high savings amount, charitable giving amount, etc.).  I may change my reporting methodology based on any feedback received.

Monthly bottom line financials:

Summary %
Income 100.00%
Charitable Giving
15.94%
Taxes 9.69%
Necessary Expenses 39.31%
Investment Spending
27.23%
Discretionary Spending
8.77%
Unallocated Cash -0.94%   (dipped into cash savings a bit)

Net Savings Rate (total saved divided by earnings less charitable giving and taxes): 35.34%

Gross Savings Rate (total saved divided by total earnings): 26.28%

Read moreMay 2018 Financial Update

Frugal Solutions to Transportation Costs

I’m back!!!! And we’re picking up where we left off on our frugality journey.

The next largest expenditure in the average family’s house is transportation.

Of course, Jim has a few ideas on how to make this more frugal.

The first principle in reducing your transportation costs, is reduce your need for transportation in the first place.  I’ll assume you followed the advice on housing and live close to where you work, buy your groceries and where kids go to school.  By doing this, you put yourself miles ahead (pun intended) of the average American’s budget as you will be spending less of your hard-earned money needlessly on transportation costs.

Read moreFrugal Solutions to Transportation Costs

April 2018 Financial Update

April 2018 Financial Update

Since I still believe in some version of financial anonymity, all of my updates will be in percentages.  If readers don’t find this helpful or want to have the actual dollar amount, please comment below.  In your comment, explain whether the percentages are too abstract or if you are more motivated by seeing nominal dollars (i.e. low spending, high savings amount, charitable giving amount, etc.).  I may change my reporting methodology based on any feedback received.

Monthly bottom line financials:

Summary %
Income 100.00%
Charitable Giving
15.94%
Taxes 9.69%
Necessary Expenses 36.52%
Investment Spending
20.80%
Discretionary Spending
10.45%
Unallocated Cash 6.59%

Net Savings Rate (total saved divided by earnings less charitable giving and taxes): 36.83%

Gross Savings Rate (total saved divided by total earnings): 27.39%

Read moreApril 2018 Financial Update

March 2018 Financial Update

March 2018 Financial Update

Since I still believe in some version of financial anonymity, all of my updates will be in percentages.  If readers don’t find this helpful or want to have the actual dollar amount, please comment below.  In your comment, explain whether the percentages are too abstract or if you are more motivated by seeing nominal dollars (i.e. low spending, high savings amount, charitable giving amount, etc.).  I may change my reporting methodology based on any feedback received.

Monthly bottom line financials:

Summary %
Income 100.00%
Charitable Giving
10.56%
Taxes 21.10%
Necessary Expenses 25.78%
Investment Spending
39.15%
Discretionary Spending
4.71%
Unallocated Cash -1.31%

Net Savings Rate (total saved divided by earnings less charitable giving and taxes): 55.38%

Gross Savings Rate (total saved divided by total earnings): 37.84%

Read moreMarch 2018 Financial Update

Book Review: Originals

Book Review:  Originals – How Non-Conformists Move the World

As a part of work, I volunteered to be involved in a “Leadership Readership” book club where we read and discuss one business book a quarter.  Usually, I get three quarters of the way through a book before the discussion meeting shows up.  As a part of my accountability desires of Jimalism, I will be doing a book review of these books so I will have 2 reasons to finish the book ahead of the discussion.  If you don’t see a book review once every three months, drop a line in the comments to nudge me in my accountability. ☺

Read moreBook Review: Originals