Time to Talk Money – Second Third of 2015

September 7, 2015 (By Jimmy)

Back at the end of April, I posted Time to Talk Money.  This post covered the first third of 2015 (Jan – Apr).  I now realize it’s time to update for the second third of the year (May – Aug). My goodness, how time flies.

All the same disclaimers apply; my life is not an indication of yours -the job you have, the payments you make – all are different than mine.  This is simply an update to give an example of what it costs to live and work on the road.

Angela and I had built up a six month buffer, so that if I didn’t have a job, we could go for six months before I would need to be at work again.  That buffer amount has not been touched, and if you plan to travel, I suggest you build and keep that buffer as well.  It is comforting to know that you have that money set aside if you need it.

Once again, I am taking my numbers as a monthly average.  The monthly average for this presentation is from May 2015 through August 2015 (AVG MO M-A = Average Monthly Dollars from May to August 2015).  I will also provide a comparison with the numbers presented in the first third of the year (AVG MO J-A = Average Monthly Dollars from January to April 2015).  If you follow the blog, you know that I was full time on a long-term contract for the entire May through August time frame.  If there are any specific one-time issues with the numbers that would significantly change the presentation, I will mention them.  First, let’s look at Income in terms of the monthly averages:

20150907_164101_resized_1

 

  • Net Business – My business income less self-employment tax, insurance, and specific business supplies (All of my work in the second third was as my own business).
  • Net Salary Related Inc (Angela did a short project).
  • Total Other Income – Travel reimbursement and per diem, less the related travel expenses, and other income.
  • Income All Sources (This doubled from the first third of the year, but I didn’t work January or most of February).

20150907_164126_resized_1

  • RV Expenses – RV payment, Lot Rent, Storage for family heirlooms, RV Insurance, Major maintenance or upgrades (New Air Conditioner and Solar Panel, for example)
  • Auto and Truck Expenses – Auto and Truck Payments, Fuel, Auto Insurance, Service and Maintenance
  • Utilities Expense – Cell Phone, Electric, Propane, Shipping, Laundry (Client pays Electric & Propane)
  • Household Expenses – Food and Dining, Shopping (Amazon, Walmart,etc), Pet Expenses, Walking around Cash
  • Health and Medical Expenses – Health Insurance, and Medical and Pharmaceutical Expenses (Annual Life Ins Payment made in June)
  • Other Misc Expenses – Retirement, Donations, and other Misc (Increased Retirement, Pre-paid Cruise and Flights, and trips to see grandkids in Virginia and Illinois).

Even with the increase in expenses, you see that we netted over $2,000 per month over the last four months. This shows two things. First, when I’m working, we can pay a lot of bills, but it also shows that we can lower our payments and work within our means when required (like it was the first four months). So, understand, if you want to live full time in an RV, you may need to adjust your budget from time to time to ensure that you don’t stress your cash flow. However, that can be accomplished up front if you budget conservatively pre-acquisition.

Until later… Later…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s