Another month in the bag and here’s the full report. How bittersweet, this will be our family’s last sizable net worth jump for a while. Waive bye-bye to click-baity family income reports.
FAMILY INCOME REPORT
If you’re new around this neck of the woods, let me just say you’ve come to the right place for your financial voyeurism needs. We do these reports every month and to sweeten the pot, we also began tracking our net worth gains (and losses) monthly.
To avoid any confusion, here’s our income report for previous months:
We are a household of 3 grown adult & 1 dog. We run AirBnBs full-time that counteracts the mortgages.
*This budget does not include our mortgages, property taxes, water/sewage/trash fees, utilities like gas and electricity or any homeowner’s insurance. Recurring payments are stable and it’s so annoying trying to calculate it so to simplify we automatically round-up and deduct -$6,000 from our monthly AirBnB income to cover our main residence and rental property. When the mortgage and all fees are added up, it’s about $4,500 a month but AirBnB income is taxed so that’s why we round it up to $-6,000, rough. Complicated – I know…and that’s the simplified version!
*Insurance & internet is covered by my husband’s employer.
*We directly deposited $4780 into retirement savings for September. All retirements are automatically reserved and added every month to tax friendly accounts.
*This income report is 95% correct. We rarely deal with cash but we don’t go down to the penny anymore.
INCOME (AUGUST 2017)
PAYCHECK: +$3,672 *
AIRBNB: +$8,545 **
MISC INCOME: +$56,066 ***
TOTAL = $73,063
*We reserved a lot of hubby’s paychecks this month for taxes – I was against it but my husband rather overpay than underpay. It’s really hard to estimate this stuff with Uncle Sam’s kooky rules.
**AirBnB’s income is superficially inflated because we had one 3 week long reservation that flooded over so the payout looks much higher than a normal September.
***Who knew clearing out leftover clutter on eBay could be so effective! Just kidding, I’m only responsible for $438 of that $56K. Jared’s RSUs (company stock) came in.
EXPENSES (AUGUST 2017)
GROCERIES & DINE OUTS – $350
We spent $355 last month which is about the same as this month. There’s nothing new to see here folks. My father does half of the cooking and groceries. I supplement a break about half of the week because I can’t handle food repetition. You know some people encourage freezer meals and set meals for every day of the week? Fishstick Fridays? I can’t do that. Seriously, I could never ever do that. I need variety or I end up just starving myself until something good comes along.
We keep food expenses low as a family by buying bulk and eating less popular, less expensive cuts of meat. Chinese grocers tend to be cheaper if you kept up with just buying fresh food only. Once or twice month, I buy myself some sort of premade dessert treat like a tub of ice cream or an apple pie from my wholesale club. With that, I keep away from any other snack foods because I have no excuses.
We ate out very little this month because I spent the weekend cooking by myself or treasure hunting in thrift stores for fun. My husband and I ate out with a group of friends once. We only spent $35 between the two of us. Mexican food is frugally delicious! We also freeloaded on some dessert, don’t worry, the favor shall be returned.
You can watch the video of the food carnage below. Credit to Jane for helping me figure out how to embed Instagram into WordPress.
TRANSPORTATION – $44
My teddy bear coin jar is running low so we started filling up my transit bus card with the credit card. I was paying with cash on the bus and the woman bus driver asked me how old I was because I was scrambling to pay the adult fare. I replied 26 casually and she was like “REALLY?!” That totally made my day!!!
Plus, $44 on transit is still loads cheaper than owning a car!
PERSONAL CARE – +$1
I believe we returned a pair of shoes from last month and that was worth more than our personal care spending for this month…so we’re up $1. Hahahaha. I’m taking my own advice and going makeup-free, here you can (barely) see my freckles.
ENTERTAINMENT – $5
Board Boosters auto renewed my subscription for $5 to keep my Pinterest active. Oh and I keep forgetting to mention: we buy a few songs off Amazon every month but those usually don’t cost anything since it’s covered by our no-rush media credits and/or Amazon gift card credit. Thank you Bing Rewards!
HOME MAINTENANCE – $6
Jared brought two packs of LED bulbs for both our rental and our primary residence. Technically, we spent a lot more than $6. We used up $200 dollars of our Home Depot gift card on a new ladder. The $6 was just a small spillover the gift cards couldn’t cover.
MISC. EXPENSES – $629
Jared was ill with the Epstein-Barr virus a few months ago. He went to the emergency clinic for a lab test because we weren’t sure if it was mono or just a strep throat. That visit cost about $170 out-of-pocket.
The other part of the charge was our Amazon Prime membership renewal. The Amazon renewal stuck up on us. We could live without 2-day prime to be honest, but since we don’t have a car…I’ll just be apathetic and leave it be. The subscribe & save deals that I get every month makes it a very close call.
The rest ($348) was blown on thrift stores. Stop looking at me with those judging eyes! You already heard of my minor thrifting addiction! I’m getting over it, it was fun but it’s becoming tedious. Back to focusing more on blogging for a change of scenery! After taking the items I’ve sold vs spent, I made a $80 profit in the last month so to be fair…it sort of ended up as a frugal win!
PETS – $14
Grace gets a monthly nail trim. We could save that money and do it ourselves but she’s a jerk and I don’t want her to associate us with fear. Her doggy insurance is taken out automatically from Hubby’s paycheck.
VACATION – $146
We caught a great deal on a flight on Virgin so we booked it. This is just an one-way flight for two adults from Seattle to San Francisco. It’s still a good deal because the flight is on Christmas Day. We spent $250+ one way for two adults last year because we held off after October for tickets.
I can’t believe Christmas is just around the corner. I’m very happy. Being Asian, my family never did anything Christmas-y growing up. But after being married to Jared (and being included in his wonderful family) I’m starting to understand why it’s known as the best time of the year! I look forward to Christmas all year (a little too much.)
BEST THRIFTS – 💎
There are some crazy people who literally pile carts of merchandise and it blows my mind. How can you have all of that in your house, it’s junk. I would never, ever do that. One lady had 30 pairs of shoes in her shopping cart.
If it’s something for me, I’m average picky. If I’m flipping then I’m extremely picky. It’s not worth the time to me otherwise (but that’s also the lazy part of me talking.) I don’t want my house turned into full-on storage – we have Airbnb guests who will question this madness haha.
Erdem silk blouse that goes for $70-$80 but I found it for $6. It’s too big on me so onto eBay/Posh it goes.
Corey Lynn Calter pink angora sweater new for $8 (in my size) and I’m sooooo keeping it. MSRP $60.
Jason Wu blouse thrifted for $6, last sold online for $500ish. MSRP $1,000+. It’s one size too big on me so I have to say bye-bye which breaks my heart.
Easel crochet poncho for $1, I can’t find comparables online but I don’t care, it’s sooo mine. It’s one of the prettiest pieces I’ve thrifted.
August – $879,417.52
September – $950,238.27 (+8.05%)
Alright-y, a 8% jump doesn’t sound like a lot but $70K is no joke. My Robinhood brokerage account is finally in the positive again after an entire month of limbo – happy about that! We’re very blessed to have gotten a sizable grant this year – good job to my hubby! I like the company stock grants more than getting new property estimates like we did the last month.
Speaking of property estimates, we received the new value estimates for our rental this month but we also noted the square footage on file is incorrect. Because of that, we are not using the new property estimates for 2016. We’re not sure when the city will respond to our despute or if they would even accept the evidence we provided. It would certainly push us over to the two comma club but the information is wrong. I’ve overridden my husband’s opinion and going with disregarding the new valuations until we resolve the square footage issue.
How anti-climatic! Sorry! But here’s the better teaser, depending on the market’s performance, we could reach the first million by the end of December this year even if the city office doesn’t get back to us in time.
It would be a close call though! Any ideas on a celebration or is that dumb? It’s just a number, right? Do we pie ourselves in the face if we’re a few hundred dollars away?