Ski Passes and Other August Spending

Ski Passes and Other August Spending

A quick reminder: these spending reports are an effort to keep myself accountable to the idea that doctors do not have to spend a totally ridiculous amount of money to live well and love life. We’re trying to do these spending reports for every month of 2018.

As I have mentioned before, we do not do traditional budgeting. You absolutely should do traditional budgeting if that works for you as a way to control your spending.  More on this topic here.

Notes About August

Yes, August spending included our annual season ski passes for this coming winter. Annoyingly, this means we spent over $1.2k for something we did not get to enjoy this month. On the bright side, if we have a decent winter, this purchase will shake out into at least five months of enjoyable outdoor activity for the whole family. It breaks down to less than $64 per person per month.

Other than that, we reverted back toward our normal spending patterns in August.

Our only air travel in August was a quick trip to Denver for me to attend the bridal shower of my future sister-in-law (yay!). Per the usual, this trip was partially sponsored by our travel hacking hobby.

August was our last full month of training for the Imogene Pass Run. The IPR is a scary enough race that it makes us want to spend all of our summer running up and down mountains, which turns out to be a healthy and cheap way to pass time. We are doing most of our workouts on the wilderness trails in our area, and have dropped our gym membership for the time being.

If you’re interested, check out our spending reports for January, February, March, April, May, June, and July. June’s report contains totals for the half-year mark as well.

Sunflowers, mountains, and storm clouds
Sunflowers and thunderheads on one of our training runs.

Notes About The Numbers

-I have not included our charitable giving here, which can be a very sensitive subject for a lot of people (especially those who feel like they are drowning in debt).  But unless you yourself are about to starve or freeze to death due to lack of basic resources, I recommend you find at least one charitable organization you are really excited about and send them monthly donations via auto-draft, even if it’s a small amount. Many charities desperately need people who can commit to monthly financial support.

-This list does not include our HSA, stock investments, or our real estate investments. I am planning to write more about how we approach our savings and investments at some point.

-This list does not include business loan payments, professional dues, licensing fees, malpractice insurance, or other expenses that are due exclusively to our business ownership and – unlike my student loans – would go away if I sold the business and switched careers.

-The student loan payment shown here is what’s on auto-draft. You can read here about how we are paying extra on our loans every month in an effort to be done with them this year. I include student loans in “home” spending even though they are related to my career because they don’t go away no matter what I do career-wise.

-We have health insurance and an HSA though my husband’s work as a teacher, both of which are deducted directly from his paycheck. It’s actually a pretty great deal, all things considered. We pay out of pocket for dental care and eye care services as needed.

-All “Entertainment/Dining” expenses are 100% optional expenses. For us, these tend to be things like going to the movies and eating at Chick-fil-A.

-I include life and disability insurance in this list even though they are sort of related to work, because they are what protect our current lifestyle.  My disability insurance is expensive because it is important to us to be able to pay off all our debts and live well even if I am unable to work.

-“Groceries” includes food, household items, medications, and toiletries purchased at Sam’s Club or grocery stores or Walgreens.

-This list does not include at-home babysitters, who we very occasionally pay in cash to watch our kids. Any at-home babysitters we pay are non-essential, although very much appreciated. The daycare/childcare shown is what we pay for while we are both at work (which is very much essential as long as we both want to work) and is listed under “Daycare/Childcare”.

So here is our home/family spending for August of 2018:

Numbers chart of August spending, total ~ $6.9k

That grand total is $6,909.57. Less than July, which was really our only spending goal for this month. If we had no interest in skiing, this number would be down to $5,629.98

Note that even though our mortgage is 49% of our spending this month, it is far less than that if looked at as a percentage of our income. I would not recommend anyone spend 49% of their income on a mortgage, ever. Also note that the student loans are still on track to be paid off in December! Whoooohooooo!

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