Financial Update: May 2015

I know it’s been a while since I gave everyone an update on my own finances. The reason for this is that shortly after getting engaged, my fiance and I combined finances, and my Mint account was therefore a huge mess of “Is that mine or yours? What category is this Amazon transaction on your account from two months ago?” We then proceeded to move on buying a house, which means a lot of uneven spending on things like inspections. Now that things are a little more settled, here are the highlights of the last three months of my finances:

  • We spent $800 on home inspections. Man, did that hurt. We initially had one house picked out that was a bit of a fixer upper. Spent $400 to get it evaluated and learned it had serious foundation problems, decided we couldn’t deal with that (which meant we also lost our $200 in option money, booo). Moved on to the house we’re now planning to buy, spent another $400 to get it inspected. The $400 we spent lead to negotiations which got us $1,000 back in closing costs from our sellers, so that was money well spent! If you ever buy a house, spending some money on a trusted, thorough inspector is definitely something I recommend. I don’t regret it.
  • Spent $1917 on food including eating out and groceries for two people. That’s about $640 per month for the last three months. I know, it’s pretty high… cut us a break, we went out for a really nice dinner to celebrate our engagement!
  • Spent $1215 each month for rent. Luckily, we found our house just in the nick of time so we don’t have to go month-to-month on our lease while we continue to search! If we’d needed to do that, rent would have been almost $1400 for those months.
  • Got an “A” in our grad school class! Hello, several-thousand-dollar tuition reimbursement!
  • Spent $313 on car stuff–soon to be much less! No university parking fees over the summer, and we sold our second car since we figured out we get almost no use out of it!
  • Spent $550 or so on utilities. Yeah, we could maybe stomach leaving the AC off a little more frequently, but for the most part this was an OK expense for us.

In general, we’re continuing to spend at a rate amenable to high levels of saving. We’re both maxing our Roth IRAs and Roth 401ks and beginning to build quite the nest egg! Things will continue to be messy next month due to closing on and moving into the house. Lots of random expenses like buying refrigerators and necessary furniture and etc. On the bright side, we’re doing the low-cost option of “bribe your friends with pizza” to get all our stuff moved from our apartment to our new house! I’ll keep you all posted as my situation continues to shift.

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