Budget Analysis – June 2020

Budget Analysis

Income

The other income is lot higher than planned as I sold almost all of my personal belonging in preparation for my move to Connecticut. I am only taking things that fit in my small Chevrolet Volt which means I sold, donated or got rid of almost 85%+ of my belongings.I am hoping this will push me towards the minimalist life style. 

SourceProjected($)Actual($)DIFF (%)
Full-Time & Side Jobs $5,700 $5,131 -9.98%
401K / HSA Contributions $2,924 $2,702 -7.59%
Other Income $50 $2,095 +4,090.00%
Total $8,674 $9,928 +14.46%

Expenses

There are only two categories that went over the projected amount. I went over on the grocery because I decided to buy enough alcohol that would last me for a while and spent almost $150 on it. Also, I talked about having to pay for car registration but forgot to put that down in the budget, which caused me to go over on the Transportation category.
Other than those two categories, pretty happy about how much I spent on different categories. Came in more than 5% lower than projected.

CategoryProjected($)Actual($)DIFF (%)
Housing $1,509 $1,426 -5.5%
Utilities $267 $167 -37.4%
Grocery & Restaurants $400 $433 +8.25%
Medical & Personal Care $275 $260 -5.45%
Transportation $335 $529 +57.9%
Miscellaneous $300 $103 -65.66%
Total $3,086 $2,918 -5.44%

Savings

I wouldn’t be able to save as much I did for the month if I hadn’t sold all my personal belongings due to my move. I was able to save over 70% for the month, which is 6.20% more than projected.
I am not looking forward to the next few months when I have to replace some of the belongings I sold.

Projected($)Actual($)DIFF (%)
Total Income $8,674 $9,928 +14.46%
Total Expenses $3,086 $2,918 -5.44%
Savings $5,588 $7,010 +25.54%
Savings Rate $64.4% 70.60% +6.20%

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