Budget Analysis – July 2020

budget analysis


I had no idea what to expect for July. With the big move to the east coast, I was expecting a lot of unplanned expenses. I think overall, I did reasonably well. One of my clients paid off an old invoice overdue by months, which was the main reason for more income than expected.

SourceProjected($)Actual($)DIFF (%)
Full-Time & Side Jobs $6,500 $6,448 -00.80%
401K / HSA Contributions $2,820 $2,820 +0.00%
Other Income $1,300 $1,536 +18.15%
Total $10,620 $10,804 +1.73%


The month turned out to be much better than planned. I didn’t go over in any of the categories. The moving cost was significantly lower than I had anticipated. I used my Chase rewards to book the hotels and mostly at eat cheap lunches to keep my food cost lower. Almost 21% lower than the projected expenses.
One of the items that I had project for this month was the fee for the rental property management company. However, I haven’t received the invoices from the management company, so I am moving those expenses over to the next month.

CategoryProjected($)Actual($)DIFF (%)
Housing $1,409 $1,409 +0.00%
Utilities $182 $115 -36.81%
Grocery & Restaurants $450 $200 -55.56% Medical & Personal Care $260 $180 -30.77%
Grocery & Restaurants $450 $200 -55.56% Medical & Personal Care $260 $180 -30.77%
Transportation $1,815 $1,088 -40.05%
Miscellaneous $2,800 $2,188 -32.61%
Total $6,556 $5,180 -20.99%


Income for the month stayed pretty consistent compared to the last month. However, I had a lot more one time expenses for July than the previous month. I was projecting a low savings rate. However, I didn’t pay the property management company. So, the projected savings rate is a lot higher than what I projected in the Budget – July 2020 post. 
It was much lower than my 70% goal but much higher than the projected savings rate. 

Projected($)Actual($)DIFF (%)
Total Income $10,620 $10,804 +1.73%
Total Expenses $6,556 $5,180 -20.99%
Savings $4,064 $5,624 +76.18%
Savings Rate 38.27% 52.05% +13.78%

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