Lanny’s January Income and Expense Summary

This month I wanted to make sure I had a timely article to reflect the income & expense summary, as December’s wasn’t posted until almost the end of January!  Another month has passed, another month where I ask myself… Did I hit the 60% savings goal with my income and expense tracker?  Did I hit the big mark that I set for myself back in August 2014 when I was discussing why I am aiming to save 60% of my income?  Let’s dive into the income and expense analysis.

Last month I was able to save a swift 52.5%, even with the Holiday barrier in my way, but not breaking the 60% barrier – though I was able to buy gifts for family and friends, go to a WWE event with the siblings and attend my little brother’s graduation, again – experienced that I would never trade for a thing.  However, I want to get back into the saddle and I have stated in my last post, similar to how Bert discloses his income/savings and how other FI bloggers disclose their income & savings – I will be including dividend income as part of my income and since I DRIP my dividends received, I count that as savings as well.  It is actually easy to include, especially since I have already post my best January month I’ve had over this past weekend in dividend income.

Lets dive into the fun month of January’s Income and Expense breakdown:

Income Summary

Salary – 86% (decline of 1% from last month, due to dividends and higher “other” categories)

Other – 7% (down from last month, gas reimbursement for work)

Dividends/Gifts – 8%

Expense and Outflow Summary

Household 25% (Mortgage + escrow, Utilities were up due to cold weather and a higher gas bill, see how you can save this winter!)

Transportation 10% (Down 7%, Auto Loan, Insurance, Gas, down from last months – car troubles part deux)

Food 2% (down 1% due to travel for work, Groceries + Coffee)

Health 2% (health insurance, gym; down 1% due to higher household costs)

Charity 1%

Haircut 0.2%

Entertainment 0.2% (Netflix, NCAA squares…)

= SAVINGS ~59.6% = This includes automatic savings from my pay to my online account, extra savings transfers to my account from this months income to my online savings accounts + automatic 401K contributions

Income and Expense Conclusion/Results

income and expense

Dammit!  Why can’t I just round that up to 60%?!  I won’t do it, I can’t look at myself on a 4 basis point adjustment upward, that has to be a single $1.00 I am sure of it, maybe I can lift up a couch cushion and find 4 quarters?  I’m going to be fair and to be honest with myself, bottomline – I just didn’t do it.  This goes to show every $1 counts, right?  The savings this month allowed me to make purchases into Rockwell/DOW Chem/Tupperware and also Citizens & Northern (Community bank in PA).  I was happy with where I ended up, though, I was expecting to cross over the 60% hurdle.  The gas bill has also crept up high as we hit the bottom of the winter temperatures (0 degrees or below), therefore, the heat was cranking non-stop in the house of Lanny.  However, I traveled approximately 10 nights, which reduced the amount that I spent on food and I was reimbursed for gas costs that I underwent this month.  For the mileage/gas reimbursement – if we place our mileage from January 1 – 15th, we get reimbursed back on the 25th, therefore – the mileage I drove for clients from the 16th to the 31st, won’t be reimbursed back until February 10th, therefore, I’ll have some other income to report next month from the second half of driving.


I need to go the extra mile and save the $1 to get to 60% on the income and expense tracker.  Just to see over 60% would feel that much more incredible to me.  To do the impossible, one must do what they have not done before.  I know I have two options – increase income or decrease expense.  I’ll have to plan my month accordingly to have a mix of both if possible.  With that being said – what are your thoughts above on the month?  Would you have rounded up the % to 60?  Did you save or spend more this month?  Let us know!


11 thoughts on “Lanny’s January Income and Expense Summary

    • Tawcan,

      Yeah, you’re right. Something else from a “side hustle” could make the 60% easier to attain. I do have credit card bonuses that are ripening up here, may cash out on those this month or next to bolster the other/bonus category. Thanks for the support Tawcan!


    • Divguy,

      Thank you! I need to do something — February could show more boosts of income sources with credit card cash outs, we shall see though, as my one credit card offers a bonus if I wait to cash out at $100+.

      What’s funny – I actually went back and re-racked one expense as I expensed a coffee to the client I was at instead of charging it to myself, not sure why I was doing that when I was traveling and it actually tipped me over to 60.2% savings… but I won’t go back and adjust haha, I’m so mad that I could have at least showed I crossed it. All good, another month on the way.


  1. If I tracked income and expenses that closely, I would not have rounded up either. That .4% gives you that much more determination to reach your goal next month. Still, 59.6% is a fantastic total. You also had a bunch of purchases like me this past month so our portfolios will be looking real good by this time next year.

    • ADD,

      Determination is what is the greatest factor right now. Thank you american dividend dream. I went back through my expenses actually and found a coffee that I expensed to the client but I wrote down that it was my expense, therefore – I was actually at 60.2% in January! I won’t go back and re-rack, as I still want to use the fuel for my fire of reaching 60% without having to go back through each expense.

      Thanks again for coming by!


  2. Oh, so close! Regardless of that $1 that you missed by, a 59.6% savings rate is very impressive. As the dividends increase, that gap to 60% will easily close.

    You can do it! Onto the next month!

    • Seraph,

      So damn close! I know, I know – February 1st I actually already had a nice chunk of dividends roll in, but now I think I have to wait until the end of the month for the next round of dividend payers, which stinks! Some of them are REITs too, so they have been down my large %’s this week and would have loved reinvestment now.

      Thanks again Seraph, talk soon!


  3. Lanny,

    Excellent savings rate. Off by a $1 or not, hitting ~60% is aggressive. That will allow you to get to where you want to be in a hurry. 🙂

    I missed my goal this month due to the fact that my laptop crashed. Always something, right? Gotta love it.

    Keep up the great work!

    Best regards.

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