Another full month in iso… how long has it been now? 8 weeks? 10 weeks? I’ve totally lost count!

This month, I am hoping to keep up with my savings momentum that we saw last month. 

Without further ado, let’s see how things went in May.

Table 1: May 2020 Expenditure

• Another reduced spend month for Groceries and Food & Drinks. This is expected as all my meals are home-cooked, whether that is by me or mum 🙂 
• Transport: Only running costs of transport is fuel, and car registration. I’ve switched to paying ~$200 quarterly, as it smoothes my cash outflows a bit even though it costs marginally more in the long run.
• Home and House Utilities: As mentioned last month, this month would be a net inflow due to reimbursements from tenants on utilities costs. 
• Insurance: Just PHI and car insurance. 
• Entertainment: Just the usual – Netflix and Spotify Fam.
• Health and Beauty: I finally got a haircut after 3-4 months, lol
• Shopping and Work & Study: I ended up buying a few new books from book depository and amazon, which are attributable to these costs. I hope to have a read and provide a review once I’m done! I should have enough books to last the next few months, so these categories will balance out over the year.

Another spectacular month for savings, spending 27% under budget and achieving a Savings Rate of just above 50%! It should be noted that this is more than likely going to bump down June’s savings rate, due to the timing of cash inflows (i.e. the savings rate for May should be closer to 40% once adjusted for cash inflows).

Table 2: Summary of Monthly Savings Rate

This bumps me up from just under 12% in March, to slightly over 18% by the end of May. I wonder if we can crack 20% by the end of the Financial Year?!

Table 3: Summary of Savings Rate Financial Year to Date

My next update will analyse the month of June, but I’ll also provide some high-level commentary on how I went between July 2019 and June 2020. I’ll aim to outline what the key costs where, the ‘surprise’ expenditure, and perhaps where I overbudgeted a little bit. Keep you eyes peeled for that one!

Regards,

AussiePersonalFinance