The June 2017 Income Report & Budget Breakdown (+ Net Worth Update)


Wowzers, June just flew by and now it’s already July! Crazy! Time definitely moves faster when we are preoccupied with life. Jared continues to work 12 hour days. Don’t feel too bad for him though – that does include 2 free meals at work, snack bar, free gym, and bathing privileges.

Hubby only comes home to sleep now; I think any other wife would be unhappy with this set up but I enjoy alone time (only child syndrome). We hustle hard now so we’ll be more ready when children become part of the equation.

Blogging (and everything that comes along with blogging) is taking up a nice chunk of my time and I’m not the only newbie blogger around here that’s severely sleep deprived. Raise your hands, admit it!


This month has been pretty uneventful. I mean that in a positive way. Uneventful means everything went according to plan.

Here’s our income report for previous month:

May Income Report & Budget Breakdown

May was a fantastic month. We had a 94% savings rate because of a particularly large tax refund check that came into our account from Uncle Sam. There was also an extra paycheck in May that was technically supposed to be for June that threw off the figures a bit too. This month’s figures are definitely more normative compare to the previous months when we had bonuses and tax refunds. For June, we had only three main income sources which was Jared’s paycheck, Airbnb and a side hustle of mine.


We are a household of 3 grown adults (& 1 dog). Our budgeted balance is less than $2,000 per month for everything from floss to fluorescent light bulbs. We run AirBnBs full-time that counteracts the mortgages.

*This budget does not include our mortgages, property taxes, water/sewage/trash fees or any homeowner’s insurance. Recurring payments such as mortgage and property tax are repetitive in nature so to simplify we automatically round-up and deduct -$6,000 from our monthly income to cover our main residence and rental property.

*Insurance & internet is covered by my husband’s employer.

*We directly deposit $5,000 ($4,791.66 to be exact for June) into retirement savings no matter what. It’s automatically deducted and added to our tax-friendly accounts every month.

*This income report is 95% correct. We rarely deal with cash but we don’t go down to the penny anymore.


PAYCHECK: +$4,172 (NET)

AIRBNB: +$7,845 (Gross NET)*



INCOME TOTAL = $17,196

*Jared just informed me he’s been reserving BnB taxes since January – yay!





I don’t think I had enough time to eat this month. I can’t believe we kept right under $400 for a household this month. Was I asleep or something? Looking over the receipts, I don’t think we were overly frugal with our groceries. When I was little, when things were tight, I ate just 1 meal a day (thinking that would save my parent’s some money). When I’m busy or stressed now I revert back to eating 1 meal a day. I think my consumption for the month was simply lower. Not healthy, I know, mom nags me on the phone everyday about it.



“I was once full of mango pudding candy.”

Goose egg!!! OK not really, I take cash to ride the bus sometimes. We have a teddy bear candy/coin container full of loose change that’s not tracked and that’s where the bus fare comes from. We’ll refill the bear and start tracking it once it’s empty.


frugal-leather-beltfrugal-leather-beltMy husband’s belt was falling apart and I felt a bit of a pain in my ice-y heart for him. This is the guy that works from sun up to sun down to bring home the bacon and he has worn the same half broken, polysynthetic leather belt for 4 years! I brought him a fancy leather belt, he objected because it’s just a belt, so I returned it and brought him the same belt but second-hand. Shop smart, not cheap!


Further proof that I must have fallen asleep mid-month.


Another goose egg! I love goose eggs! We do have $350 in Home Depot gift cards from churning the Amex Gold card. Hubby did buy a tube of caulk this month but that was easily covered by the gift card.


My dad went to Dollar Tree and spent $13. I’m guessing on 12 or so things haha. I have no clue what he brought but that’s OK. He’s really frugal too so we trust him enough to give him our credit card since it’s traceable and he doesn’t have to carry cash around in his old age.

PETS – $15

Another bag of kibble for the colonel of cute. Dog parks are free. Her shots and grooming are due in a week so we’ll see how much it’ll cost next month.


Fun fact: Grace memorized the route to the VET 😂. When we cross near that street, she won’t go further. We couldn’t even drag her. The plan now is to do the loop around, until she memorizes that route too, then we’ll have to carry her like a big baby for 3 blocks.



PHONE (AT&T) – $88

Still with AT&T out of pure laziness.

GAS (STOVE) – $54

Gas was a lot less compared to last month at $79 because it’s been really warm. The heater and stove are on less.


Electricity is billed once every two months so nothing was due for June.


Well, it’s worth at least 25 cents!
The corner lot neighbors are always giving away stuff.

This is my favorite part of the income report! Jared found an organizer on the side of the road (with a quarter in it!) and the neighbors gave away their oscillating fan and sink. We didn’t take the sink but now we have 5 fans total. 3 fans from dumpster diving, 1 fan purchased and 1 fan that was a gift (or hint?) from an Airbnb guest. Jared explained to me that our townhouse is the worst for temperature control because of the surface area and design of the build.


New record! O_O! I just added everything up now and it’s like…what was I doing (or not doing). You know what I credit this to? Living car-free. I might write a series on that after the AirBnB series and my Amazon Hack eBook. I don’t think we’re missing anything in our lives. We can go out to eat responsibly when we want to and we order-in pizza sometimes when we’re too lazy to cook. The expenses will be higher in July because it’s my birthday month 🎊

JUNE SAVINGS= $12,419 (incl. retirement)



Me and BoaS discussed the possibility of revealing our net worth for the public to poke and prod at. I kind of been skirting around it…and hiding it between sentences because you know…shuffles around…I’m shy…


I had hubby add everything up yesterday. We never did that before, our mental math is so off. I thought we were at $800K. Net worth fluctuates so I rounded down. Liquid assets include everything across 4 brokerages (Vanguard, Schwab, MS), 3 savings accounts (CU & Discover) and all that other retirement mumble jumbo.

A mortgage at 4% is cheap money (my old student loans were 4.75%). If anyone wants to hear me ramble about the theoretical potential for Seattle’s growth estimated by every news coverage (sprouting off from Amazon and tech ) – I have a few theories too.

Jared used the assessed tax value from 2016 and not the current market value (it’s like $100 $150K higher PER HOUSE, crazy). The asset rule for our rental properties is “two full years of stable rental income” (according to lenders). AirBnB is raising questions on this because that rule only applies to traditional long-term rentals. Any income-producing real estate is considered an asset and we rent out all of our properties on AirBnB for a small profit (bonus: extra tax benefits!) The general consensus for AirBnB is it isn’t as “stable” as a long-term rental (although one can challenge that).

It’s all a bunch of numbers at the end of the day. We squirreled away $12K cash in June and had a pleasurable month of blandness. We’ll keep squirreling for a few years and see what we want. For now, I’m going to twirl my hair and call it a day.

How’s your June round-up? Any Seattle readers here? Anyone going car-free? Hiiiii. Thank you for reading!


51 thoughts on “The June 2017 Income Report & Budget Breakdown (+ Net Worth Update)”

  • Wow, you guys had another amazing month! And your net worth is SO close to the million mark!

    I laughed so hard when you said your fur baby memorized the route to the vet. Sounds like you’ll have to come up with a few new routes to prevent this from happening! I would love to go car free but we’re an hour’s walk to the nearest train station and it’s SUPER limited in where it stops. 😕

    • Thank you Ying!! 🙂 We had to plan for car-free. I walked all the routes to buses and looked at everything within walking distance before buying the house. Not always perfect but the money you save is great!

  • I think you have already reached FIRE. Doesn’t take much money to support $630/month of expenses 😉 Seriously those numbers are super impressive and motivating. Thanks for sharing.

    We have plans to go to one car in the future. We would like to move closer to our work, turn our current home into a rental, and start biking. Public transportation is basically not an option in NC.
    Grant @ Life Prep Couple recently posted…The Power of The Mind: Elite vs Average

    • You two have a plan that sounds a lot like ours! You will be shocked at the amount of money you could save.

      I think the car craze by the Boomers is costing everyone big time now. No infrastructure! I grew up in China & SF which are not car dependent places. If I grew up anywhere else, like NC, I would be singing a different tune.

  • Woot! Sleep is overrated!
    I wish we found the path to FI before kids. Would have made things so much easier. But I’m glad we are on it at all thanks to our first born.

    Sounds like you guys are rocking it! Keep it up and you will be in the millionaire club before you know it!
    Budget on a Stick recently posted…2017 Q2 Networth and Goals Update

    • Sometimes kids are the wake up call people need! You two are doing spectacular! Those are going to be some lucky kids with the fattest 529 plan ever!!!

    • Thanks Mr. FF 😉 I wanted to mention that hubby’s career as an engineer might not always be so rewarding. For the next 5 years, yes…next 10 yup. But beyond that, let’s just hope it won’t matter 🙂

  • Zero in transportation and entertainment….that is awesome. I wish I could do that. Before when I worked in DC transportation was high. It has lightened since then because I switched jobs. But now has picked up again since it’s summer time and I drop the little one at daycare which is out of the way, it has picked up a little. Anyway, keep up the savings and investing!
    SMM recently posted…Bye CDs – Well Hello There Dividends

  • Thanks for the shout-out, Lily! You guys are almost millionaires now. That’s awesome!! It’s always a great feeling to find our that you have more money than you thought haha. I would love it too! 😀

    That’s an impressively low number for June expenses! I too have been so sleep-deprived as you might already know. I feel like you are often the last person I talk to about blogging before I go to bed. Mr. FAF has also gotten an earful about you and Jared hehe.
    Ms. Frugal Asian Finance recently posted…How To Find A Frugal Husband

  • Dangg Lily, that much at age 25!? I’m both jealous and in awe at the same time. Seriously, great job, you and your husband seem to really know what you’re doing. I also didn’t realize AirB&B could be so profitable! Great job balancing making more money and saving, I think that’s something I’m still trying to perfect.

    • I didn’t know that! My best friend lives in Toronto and she said housing prices jumped 30% in 2 months. She also told me sales tax is 13% there…😱

  • Impressive expenses, that’s for sure and great income too from AirBnB. Wow, that realy works out well for you guys.
    But the net worth, is there a typo here? Based on the 3 lines you have a total amount of assets of $910.000 minus mortgage that should be around $310.000 net worth. Which is bloody good for someone at age 25.
    Team CF recently posted…June 2017 Savings Rate

    • Its debatable with mortgage (esp in our case) so I left it as is. We earn a stable profit from each property (primary+rental) that it’s considered assets by lending standards.

      If we just lived in it w/o generating in income then it’s a different story.

  • Hi Lily, this was informational and fun to read so don’t feel embarrassed! I forgot I subscribed to you on YT! Ahola!

  • Your income amazes me! And your net worth, too. Can you do a year-by-year break down of how that happened? Seriously impressive and newsworthy, if you ask me. Hint, hint: pitch the news outlets.

    Also, high-five on the used leather belt find! I would have scolded you if you bought another fake leather one. Would have cracked and looked like crap in an instant!
    The Luxe Strategist recently posted…Five Things I Bought That Were Total Fails

    • Omg you sound just like my friend. She’s Chinese and living in NY too! Seriously! She loves high end clothes (at a frugal steal) and she dragged me to Chanel once to order her CC bag. You want her number?! I smell friendship! LOL!

  • Can I steal Grace? Gosh I love that dog. Dogs are the best.

    And what a great breakdown 🙂 Thanks for sharing it, and kudos! Looks like it’s going well! And thanks for sharing the networth – yowza, you guys must be doing something right!

  • Wow you are killing it. I recently completed my mid year goals list. We are doing well and our net worth is up 14% for the year. So I am pumped at this point but I know I still have a little bit more to go before we hit FIRE. But the good news is I’m closer than I was last year at this time 🙂
    Mustard Seed Money recently posted…The Undeniable Appeal of a New Car

  • Wow, didn’t realize you can make that much via Airbnb on the market price of your homes! When did you guys buy them? That rent is really good for the price.

    What do you guys do for your day jobs? And is there a point where you plan to engineer your layoff once you get to a certain non-day job income?



    • Hi Sam, thank you SO much for dropping by!!! Twice! 😀

      I’m afraid this AirBnB snippet is a bit bias. We’re during peak summer season which means that everything is elevated. We average $50K to $60K a year on AirBnB so it does bring in a small profit beyond the mortgages. I sorta engineer my own layoff already and converted to AirBnB full-time (cleaning, booking, restocking etc) because I figured I would only make $40K a year…AirBnB beats that in every avenue. Now I’m trying to build a blog network with my spare time.

      My husband likes his work at Google (free food and games ha!) and doesn’t want to leave, yet. I asked him about retiring early but he said he just want the option of being able to leave without $ repercussions if something did go sour.

  • You guys are only in your 20s and already killing it! Wish I started my FI journey a decade earlier. I predict your NW would be 8 digits by the time you reach 50.

  • Congrats! Nice blog, impressive. Have a question on your income recreated below:
    INCOME (JUNE 2017)
    PAYCHECK: +$4,172 (NET)
    AIRBNB: +$7,845 (NET)*
    MISC INCOME: +$388
    RETIREMENT: +$4,791
    INCOME TOTAL = $17,196
    Question: isn’t the total: +$4,172 +$7,845 +$388 -$4,791 (not plus) = $7614?

    • Hi Topi, good question! Hubby has auto transfer set for retirement so it’s superficially taken from his income but it’s automatically transferred into investments which is why it’s a “+”. It’s still definitely income, if he doesn’t auto transfer for retirement then it will be added to his paycheck instead. Then his paycheck would be 4172+4791 to simplify, but I think it’s important to separate retirement.

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