Money

July 2020 Spending Report: How I Lived Off 10% of My Income

july 2020 spending report

Want to see what one woman spent money on for the entire month of July? In Clo Bare’s July 2020 Spending Report, Clo Bare will cover all her spending for July, share an exciting update about her current savings as well as her current net worth. 

July 2020 Spending Report Quick Navigation

I start all these spending reports the same way if you haven’t noticed by now– AMAZED BY HOW IT’S ALREADY X MONTH WHEN WASN’T IT 2015 YESTERDAY?!? My aging body can’t handle this time thing and I am legit blown away that it is now August 2020. 

With that being said, the numbers are in for my July 2020 spending report and it’s a mixed bag. I went over budget by $35 and completely BLEW the budget in two categories.

But, I did live off of 10% of my pre-tax income, and I also lived off only 35% of my post-tax income.

Sounds impressive, doesn’t it? 

It’s not really. But I’ll explain later. First, let’s look at the budgeting categories so we can talk about how I failed and how I succeeded.

July 2020 Spending Report Categories

july 2020 spending report

July 2020 Spending Report Fuck-Ups Explained

Dating: An All-Around Fuck-Up

AGH. I don’t even want to talk about the dating category cause I blew all that money on a dude who ended up being a total sociopath. We can’t win them all. That almost $400 spent on dating in July is because: 

  1. I lost a bet and had to pay my sister $100 for dating before June 2020. I literally could’ve just waited a day but I didn’t. Regret. So much regret. But fun event– check out Fever Candlelit Chicago if you need a fun and socially distant date idea.
  2. I bought fun tickets to this socially distant event ($99) and also bought dinner that night which was about $200. $200! Who do I think I am?!? Agh. Bougie Chloe is getting put back in her cage, smh. Cabra— you were delicious. But see you again, never. The event was fun though. Check out Fever Candlelit Chicago if you need a fun and socially distant date idea and use the code CHLOED92249 to receive an $8 voucher!

To be fair, that dinner and that concert was probably the most fun I’ve had in a while. Too bad it had to be with an asshole.

Sigh.

I digress.

Lesson learned– no more investing this much money in boys until it’s been longer than a minute.

*bougie Chloe nods her head in shame, licks her wounds and takes off her heels*

Watch the July 2020 Spending Report

Entertainment

I went a little over on Entertainment this time too. Not mad about it because my sister came into town and we ate out, had a seafood night, and got some joy out of shelter in place that I needed! 

It was wonderful, and even though it wasn’t California like we originally planned– it was still amazing so I’m totally cool with the fact that I went over budget here. Now for the next couple of months, I’ll take a chill pill.

Promise.

The good news? Outside of eating out with my sis, I didn’t really order in as much as I did in June. And I only ordered Grubhub when hungover ONCE (Firecakes donuts FTW). That’s better than the $200+ I spent last spending report BUT I still spent a lot on eating out. So in August, my plan is to also chill that out a bit.

 

july 2020 spending report

July 2020 Spending Report Budgeting Wins: Transportation & Living off 10% of My Income

Transportation was lower than the last two months, which is good because I don’t want that to start creeping up. I still haven’t used the Zipcar yet, so I’m not sure if it was worth it or not yet. To be determined, but I have many months to see if that $75 purchase was a good move or not.

Living off 10% of My Income in July 2020

Also, as I mentioned earlier, I lived off of 10% of my pre-tax income and 35% of my post-tax income. That sounds cool but actually, it’s not as impressive as it sounds because rent didn’t come out of this round, nor did the extra $1k I usually put down on debt.

So really, if those two items had come out of my spending, and I re-did the calculations, I actually spent 73% of my post-tax income and 48% of my pre-tax income. Not as great.

I also made an extra $1k this month from Clo Bare which boosted my overall income. 

We’ll pretend it’s a win because the numbers work, this time.

The good news is, that on average, I’m definitely spending less than 50% of my pre-tax income and doing pretty well on the post-tax too. 

Alright, so room for improvement. Definitely room for improvement. Anyway, on to the spending report, shall we?

July 2020 Spending Report

 

Date

Amount

Description

Category

7/3/2020

$24

Nicor

Utilities/Cell Phone

7/3/2020

$96

concert tickets

Dating

7/3/2020

$280

trip to ER— change to $280 (Credit card credit, originally $350)

dog

7/4/2020

$10

anti-parasitic wash

dog

7/4/2020

 

dinner—DELETE CREDIT CARD CREDIT $30

Entertainment

7/5/2020

 

uber—DELETE credit card credit $25

Transportation

7/4/2020

$35

cvs

Groceries

7/5/2020

 

aldi-DELETE Credit Card Credit $47

Groceries

7/5/2020

 

planner—DELETE CREDIT CARD CREDIT $25

Personal

7/5/2020

 

$5 cotton balls— delete credit card

Personal

7/6/2020

$40

dog food

dog

7/7/2020

$100

lost the bet with my sister

Dating

7/8/2020

$5

dirt for indoor plants

Personal

7/8/2020

$25

planter and seeds

Personal

7/8/2020

$5

planter and seeds

Entertainment

7/8/2020

$200

clothes

Personal

7/9/2020

$8

groceries for beach day

Entertainment

7/9/2020

$65

groceries

Groceries

7/10/2020

$10

lost a bet

Entertainment

7/10/2020

$22

beer

Entertainment

7/10/2020

$35

seafood

Entertainment

7/12/2020

$89

car rental dad’s birthday

Travel

7/12/2020

$30

dinner

Entertainment

7/12/2020

$77

airbnb

travel

7/12/2020

$110

sprint

Utilities/Cell Phone

7/13/2020

$25

tacos

Entertainment

7/14/2020

$8

Renter’s insurance

Renter’s Insurance

7/15/2020

$70

tick prevention– 8 months

dog

7/15/2020

$15

beer

Entertainment

7/15/2020

$59

internet

Utilities/Cell Phone

7/17/2020

$36

beer for dad’s bday

Travel

7/18/2020

$35

Gas and snacks

Travel

7/18/2020

$90

aldi

Groceries

7/19/2020

$60

Duvet cover

Home

7/19/2020

$35

comed

Utilities/cell phone

7/20/2020

$15

vizzy

Entertainment

7/20/2020

$18

ice cream

Personal

7/20/2020

$28

life of yes

Entertainment

7/21/2020

$99

american card fee

Credit card fee

7/22/2020

$55

groceries for dinner

Groceries

7/23/2020

$19

elyse’s bachelorette

Travel

7/23/2020

$1,000

student loan payment

Debt

7/23/2020

$20

program

Health/medical

7/26/2020

$192

dinner

Dating

7/26/2020

$16

lyft

Transportation

7/27/2020

$20

donuts

Entertainment

7/26/2020

$20

uber

Transportation

7/26/2020

$20

yoga

Personal

7/28/2020

$101

supplies for one tail at a time paintings

Clo Bare

    

Total Spent in July 2020: $3,232

Income: $6,309

  • % of Income Spent on Debt: 16%
  • % Living Off off Post Tax: 35%

Savings

  • Cash: $11k
  • Real Estate Investment: $43.9k
  • 401(k): $53.5k
  • Total Savings: $108.4k

Debt

  • Student Loans: $35.3k

Total Net Worth

  • $73,080

I Now Have a Six-Figure Savings!

As you see at the end of my spending report, I now have 108k saved between my investments, real estate investment and my cash savings!

That’s huge! If you think about even a year ago, in August 2019 I had a total of $41k saved. I’ve more than DOUBLED my savings in a year while still putting about $20k on my debt. 

Read the August 2019 Spending Report.

That’s insane and very exciting. We aren’t even at the two-year review yet since I started my budgeting year in October, BUT I’ve already, two months early, saved more than double than what I saved last year. Can’t wait to see the numbers in October! 

 

Plus, take a look at that net worth climbing! Last month my net worth was $58k, and it’s jumped up to $73k! That’s a $15k jump! In just one month! That’s partially because my real estate investment cashed out on August 2nd. I made about $8k on that which I can reinvest now, and it’s also because I put about 25% of my last two paychecks in my 401(k) which is about $4k a month. The other $3k? Change in market and decrease in debt. Oh, math. I love you.

 

YAAAS. Making moves. It’s pretty cool to see that savings amount grow right along with my net worth. I’m going to have a six-figure net worth in no time. 



A Thing To Note in My Expense Report: Credit Card Credits

You might’ve also noticed that I had some deleted transactions on the spending report because I got a $250 bonus on my new Chase Freedom credit card! Free money! I thought about tracking it in my income, but instead, I erased some purchases cause sometimes you just gotta let loose and erase your grocery bill.

Now, onto goals! Woo! Let’s check into how I did with my goals last month and what my plans are for August 2020.

Goals Check-In

Goals for I set for July 2020

  1. Stop eating out when you’re home alone. I succeeded! Minus ordering donuts that one time I was hungover. 
  2. Put another $2k on debt and see about refinancing your loans for a lower rate. So I didn’t put down $2k on debt because I refinanced my loans down to 3.54% (from 4.75%) and during the overlap I didn’t end up putting an extra $1k on the loan because it was in that weird space between when they refinanced and when it hit my account. Will be putting $2k in August though! Perhaps more.
  3. Stop spending so much on transportation. ˆSuccess! I did it! I only spent $34 on transportation for a whole month.

Goals for August 2020

    1. Put $2k on Debt. Since I didn’t last month, definitely need to this month! It’s important for me to put $2k down this month and $2k next month so that by October I will have put $20k total for the year on debt.
    2. Keep not ordering in Grubhub when I’m drunk or hungover. That should be easy this month! I’m taking a chill pill on drinking which means I’m taking a chill pill on being hungover. Win, win.
    3. Keep dating expenses LOW as well as entertainment. I want to stick to the budget on both of those things! I have my yearly budget to keep in mind, and don’t want to go over. There’s only five more pay periods left this year for my Clo Bare fiscal year, so I want to nail it.

How are you planning your money for August?

That’s pretty much it! How are you planning your money for August? Anything you’re aiming to eliminate or cut back on? Share in the comments below!

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july 2020 spending report

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2 Comments

  • Reply
    Jewels
    August 5, 2020 at 7:40 am

    This was great! The way you write is amazing! Totally subscribing!

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