January 2012 Monthly Expenses

A New Year and a new blog! Let’s get 2012 off to a good start. I am going to start listing my expenses, and hopefully this monthly routine will help me track and improve my spending habits!

Most of my monthly expenses are fixed, for the most part. Things like rent, utilities, internet, and cellphone are costs that I do not foresee fluctuating very much from a month to month basis. Where I have most control over spending are on things like: food, entertainment, gas (depending on how much I go out), etc.

As I analyze the data, I see that I definitely spent a lot more than usual on gas and food. The increase is food spending probably has a lot to do w/ me not cooking my own meals and opting to eat out instead. January was a month where my co-workers and I frequented a lot more new (expensive) restaurants than usual as we were all starting to get tired of the work cafeteria. The increase in gas spending correlates a lot w/ the decision to go out and eat. It’s like I’m getting penalized double for eating out!

As a whole, my savings rate for this month was over 70% of my net income. Prior to this year, I had never made an attempt to reach a certain savings percentage target. Based off of these results, however, 70% seems like a rather attainable number for me to shoot for each month. I didn’t go out too frequently this past month, but I didn’t feel like I deprived myself either. Still, it will be a lot harder to keep expenses down when the weather starts to improve 😉

Rent $750.00
Utilities $15.00
Internet $15.00
Food $257.30
Gas $182.58
Phone $50.00
Other / Fun $75.50
Total $1269.88
Expense Ratio 26.89%
Savings Ratio 73.11%

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