Monthly Update, August 2016
Expenses/Savings
August was one of the better months we have had all summer. The Summer of No Savings is officially over.
![Laughing :lol:](./images/smilies/icon_lol.gif)
We spent very little outside of renovation expenses. Over half of our normal spend was property taxes ($518), leaving us with normal spend of $439 + $180 of car-sale cash we spent on groceries for a total of ~$619 in normal spend for the month. I think that is a new low!
I started taking some steps to reduce our expenses in the coming months. I switch our internet plan to lowest cost and that will kick in next month.
I can also state that we are getting close to finally wrapping up all the work we are doing to our house, with only about 1.5-2 months left! So our renovation expenses will be plummeting soon. We do have a couple large expenses coming up (3 windows and insulation) but aside from that we just have drywall, paint and misc to pay for. Oh, and our carpet, I have perhaps 30% of the money saved for that. The rest will constitute our last final renovation expense and will probably hit the books in November.
Normal Spend - $957.04
Remodel Spend - $2379.19
Total Spend - $3336.23
Total Savings - $2537.69 ; 46%
I added a new graph to my updates. This shows the past 12 rolling months of investment income compared to normal spending. Looking for this to overlap.
Account Details
I made some changed to my Lending Club summary to reflect a 3% SWR, rather than an expected ROI income.
I also created this chart this month. It shows our SWR over the past year for both Lending Club and Total (for all 3 accounts).
Total FAI - $2872.51 (+130.73)
Time to Bills Only - 13 Months (-3)
Time to Bills & Food - 29 Months (-1)
Time to TTM Expenses - 51 Months (-2)
TTM Expenses - $14550.66(+25.22)
I made some changes to my FAI values this month as well. Instead of using expected ROI for Lending Club, I changed everything over to use a 3% SWR number instead. This lets everything match up with our actual expenses on the chart.
I also changed how I am calculating our TTM expenses. Instead of averaging out each monthly value's annualized number over the past 12 months, I am simply adding up each monthly value instead. It's much simpler.
In the end our FAI value is lower, but so is the 'target' on our chart. Our actual progress hasn't changed at all.
Renovation
A month ago I had just started mudding bedroom 1. Bedroom 2 didn't have drywall up. The bathroom laundry cabinet wasn't even started, I still needed to build the wall and the platform for the dryer. We had not done any tearout for our dining room and hadn't moved anything out of our livingroom.
It's been a very productive month, even though it hardly felt like it until this past weekend. Main accomplishments include completely finishing bedroom 1 and the main floor bathroom. We moved everything from our livingroom into bedroom 1. Bedroom 2 still needs a coat of paint, but I have been putting my efforts into the dining room this past week or two. Our dining room is completely gutted and we have a LOT of the building done. The living room is essentially gutted except for taking up the floor. I have some structural work to do on the ceiling but then I'm ready to build.
By my next monthly update the dining room will be 100% complete and we will be finishing up work on the living room. I want to be to the point where we are ready to paint by Oct 15. That will be a push, but given what I've done so far, I think it's doable. My motivation for getting this done so quickly is that we have a relative coming to stay with us on Oct 16 and I'd like to have the house put together before she arrives. DW's parents are also coming back the 3rd weekend on October....and we need places to sleep for everyone!!!
I haven't shared photos of the bathroom yet because it's been a bit of a mess with the in-laws in town this week. We also need to put up some of our decoration and the towel hooks and such. Probably this week.
![Smile :)](./images/smilies/icon_e_smile.gif)