Expense reports

February 2020 Expense Report

February Expense Report

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February was an interesting month. We had a lot of one-time costs that increased our spending by almost 60% compared to January 2020 and to February 2019. As part of these costs we also paid the security deposit for the 2nd child’s daycare, so we got a first taste of the increased expenses that will follow. As I’m writing this post, Coronavirus (COVID-19) has been declared a pandemic, so it will be interesting to compare this month’s expense report with the upcoming one from next month and see the differences.


February 2020 Expenses
  1. Our total monthly expenses were $12.1k:
    1. This is almost 60% higher (i.e. $4.5k) than last month (January 2020 – $7.5k) or last year (February 2019 – $7.4k)
  2. Most of this increase was due to one-time costs:
    1. New cell phone and DSLR camera: $1,921
    2. Security deposit for second child’s daycare: $1,055
    3. Auto maintenance (repaired the car brakes): $484
    4. Doctor visit for an uninsured relative: $352
  3. The remaining part was due to:
    1. Discovering that I had not paid the last water/sewer bill, so I paid for 2 bills this time: $523
    2. Annual fee for the Alliant Credit Union credit card: $99
  4. Preview for the increase in daycare costs, starting in August:
    1. My second child is starting daycare in August, which means that our daycare costs will more than double.
    2. Our expenses for the second half of the year will go above $10k/month. Not looking forward to those expense reports ๐Ÿ™

Detailed breakdown

Daycare$2,175Includes $1,660 (monthly payment for 1 child) and $1,055 (security deposit for 2nd child)
Mortgage$2,658This is a 15-year mortgage @3%
Shopping$2,378New cell phone and DSLR camera ($1,921). The rest was mostly from Amazon (50%) and gifts
Groceries$1,22645% from Whole Foods, 35% Costco, 20% Aldi
Utilities$813Includes water/sewer (2 bills), electric bill, garbage, internet, alarm
Car maintenance$484Replaced brakes in one car
Healthcare$428$352 we one-time costs for visiting relative
Restaurants$386We went out 9 times. 50% of the amount is due to 2 of these times
Children’s activities$341Sports activities for children
Gas$138Most of it from Costco
Fees$134Annual fees for credit card, late bank fees
Personal care$130Haircuts
Cell phone$722 lines, unlimited plans
Coffee$24Similar to last month

How to easily track your monthly expenses

This is the methodology that I use to monitor my monthly expenses. You can also do the same:

  1. Create a free online account at Personal Capital
  2. Link your accounts, so that you can track them in the Personal Capital dashboard
    • Bank accounts
    • Retirement accounts (401k, IRA, etc)
    • Credit cards
    • Investment accounts
  3. At the end of each month, view the list of your Expenses (also found if you go to Banking -> Cash Flow -> Expense)
    • Go through each line one by one
    • Check if the “Category” of the expense is correct. If not, then move it to the correct category. You can also create your own categories
    • When you are done, you can view the graphs with the aggregate data and compare your expenses with last month
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1 Comment

  1. Were you able to negotiate that uninsured bill down at all? Depending on the clinic/hospital/setting, you can usually come to an agreement on price. Nice job watching out for your family.


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