Expense Review – July 2021

July was a busy month for us. We started the month off with a 6 day staycation where we threw caution to the wind and stimulated the local economy. It was such a nice break, and as we get closer to our FI goal I would like to make it a more regular thing. No point waiting until hitting FI to enjoy a little luxury. Life is happening now, and this trip was a reminder to spend a little money every so often. After our lovely mini break our state had a 7 day Covid-19 lockdown, and we kept ourselves busy by continuing our renovations. Overall July has been an expensive month, and that’s reflected in our updates below.

To view all previous expense review tagged posts click here.

Top 5 Expenses – July 2021

These charts are from my Income and Expense Tracker click on the image for the link.
  1. Renovations = $2,344.67

Notes: This month we spent up big at IKEA, Bunnings and National Tiles. Due to the lockdown our bathroom contractors were not able to come and do the tiling work that we had expected (and to date have only completed the rendering/waterproofing). So hopefully in August the bulk of the bathroom will be finished (provided we don’t have another lockdown). Whilst locked down we tried our hand at buying and installing an IKEA kitchen ourselves (in our kitchenette space). It went surprisingly well, which is good because we were quoted an obscene amount of money for the laundry so we will now be doing that ourselves. We hope to be finished this space by the end of September (and might have it listed on Airbnb in October).

  1. Mortgage = $1,808.60

Notes: Our mortgage went up significantly this month as we discovered our bank had not increased our mortgage in line with the correct minimum repayment. It’s not the first time I’ve been less than impressed with our bank, and we are in the process of refinancing to a better provider (fingers crossed).

  1. Holiday = $1,338.13

Notes: We had the most lovely staycation in our state lasting 6 days. We would’ve taken more time off, but with me having only been in the job for 3 months it wasn’t possible. I’m a pretty frugal person, but when we are on holidays we like to enjoy the finer things in life. We ate at fancy restaurants, spent money on nice hotels, and filled in time with expensive activities such as Escape Rooms and the Zoo. Lots of great memories were made with this money, and I can’t wait to do it again.

  1. Utilities = $1089.51

Notes: Our utilities were slightly higher than usual thanks to a larger than expected electricity bill in the last quarter. It’s been super cold where we live, and working from home has helped our bills increase even more this winter. Since receiving this bill we have made a few tweaks and will be using our wood heater more. If you want to save money on your electricity feel free to read up on our tips here in our article – 5 simple ways to save money on your electricity bills.

  1. Food and Alcohol = $913.28

Notes: In July we spent money at Aldi, Bakers Delight, Foodland and BWS. We used loyalty rewards at Bakers Delight (6th loaf free), Foodland (1 point per $2 spent) and BWS (1 point per $ spent). Plus we use additional cashback rewards at BWS through Shopback Cashback Rewards (If you want to sign up use this affiliate link – You’ll get a $10 bonus once you make your first transaction.).

Year to Date Comparison

These charts are from my Income and Expense Tracker click on the image for the link.

We spent $10,008.95 in July which is a slight increase of $495.01 on last month. We spent $322.87 per day in July which up from last month’s $317.13 per day.

Other Expenses (% of total expenses) – July 2021

These charts are from my Income and Expense Tracker click on the image for the link.

Restaurants, Eating Out and Activities

Eating out accounted for 2.14% of our total expenses in July.

  • Hubby and I had a drinks date at an old university haunt (which was nice).
  • We enjoyed our last pre lockdown meal (drive thru McDonalds). This was a request from the kids.
  • Family Dinner at our local fancy burger joint.
  • An after work drink with my co workers.

The total for the month of July on this category was $214.20 compared with $167.15 in June.

New Expenses (July)

No new expense categories were added.

Changes we’ve made this month (July)

No significant changes to our regular expenses.

Changes to expect next month (August)

Next month we expect the following changes.

  • I feel like a broken record but my wage reconsideration request still hasn’t been paid. I’m hoping it will be paid this month as it will be 4 months worth (and hopefully around $1500). Once this is paid this will be put into our renovations.
  • We are getting a refund on the flights we had to cancel. We are looking forward to getting this money back in our hands (no ETA was given from the airline carrier). It will be put to work on our renovations.

Year to Date Expense Overview ($)

These charts are from my Income and Expense Tracker click on the image for the link.

Total Spend 2021 (To Date) = $58,142.98 or an average of $8306.14 a month for 2 Adults and 2 Children (Aged 13 and 10)

Investment Rate 2021 (To Date) = 41%

Our goal investment rate at the start of the year was 60%, however we created this goal before I took a 30k (after tax) pay cut in March. Given the massive pay cut and the renovations we are doing this year I’m happy with where we are at. More importantly we are still tracking to our current goal of hitting financial independence by January 2027.

Notes: I track my Income and Expenses via my tracker available on my Etsy Store Link Here .

Income and Expense Tracker with Automated Dashboard Single | Etsy

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