June 2019:: Unplanned expenses for shifting

Unplanned expenses for shifting

Around mid-June, our landlord requested us to vacate the home since his family was moving back in the city. Although this was a short notice, we were able to find a good home and shifted in a couple of weeks. The whole process was both a hassle and a financial setback as we spent around Rs

17K for shifting. The expenses for shifting included brokerage(1/2 month rent), movers charges and entrance charges in new society.

Budget travel

We took a week long vacation in the first week of June. Not only did the vacation provided relief from the scorching heat of NCR, it helped us to rejuvenate by taking a break from the monotonous routine of work life. Managing the whole travel expenses around Rs 10K was the icing on the cake.  

Other highlights

• Expenses were 23% of the income which was still below the forecast of 25%.
• Rent/bills were the biggest contributor followed by the unplanned expenses for shifting. 
• Expenses on travel/vacation were less than what we expected.
• Filed ITR and paid self-assessment tax(income from FD interest).
• Expenses on commute declined further.
• Expenses on groceries were almost negligible. We ordered all groceries from Milkbasket (app’s wallet was already recharged in the previous month). 
• Further loss in equity investments(Stocks and MFs)

Below is the pie-chart depicting category-wise expenses:-

Saving steps

• Ordering groceries through Milkbasket wallet. 
• Being flexible with our travel plan and avoiding pre-booking of hotels. The online prices of hotels are high compared to booking on the spot after negotiation.  
• Packing the household items ourselves reduced the expenses for shifting.
• We negotiated with the broker and he agreed to give a discount of around Rs. 750. 

Investments

Opened another FD and contributed to existing RD. Invested in stocks and MFs when the market went down. Also contributed to the LIC policies’s payment.

Forecast for July

• We were hopeful for some benefits from the Budget but the FM maintained status quo for the tax-slabs.
• As we shifted to a new home, there are planned expenses for home improvement. 
• Our expenses for rent and commute will reduce marginally as the rent is lower and the home is closer to the office.

Retirement corpus as on July 1st, 2019 – Rs. 1,31,61,914

Previous month’s update: May 2019