Monthly Expenses – December 2022

These are my Monthly Expenses – December 2022!

Why track your monthly expenses?

Because budgeting, planning, and learning how to manage your finances is an essential component to achieving financial freedom.

• Related: 5 Reasons to Invest in Dividend Stocks

The key to building wealth is to spend less than you earn and wisely invest the difference.

Over the past 5 years, I have managed to save over 50% of my income each month.

More money saved means more money to invest.  Using the model of dividend growth investing, I am on course to achieving financial independence.

The results have been amazing!

Over the years, I have built a six-figure portfolio that generates dividend income each month. I am currently making over $1,000 in passive income each month while I sleep.

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December 2022 Monthly Expenses

So here is December 2022’s expenses:

• Rent: $614.34
• Utilities
  1. Electric: $41.26
  2. Gas: $25.45
• Internet: $84.99
• Cell Phone: $35.00
• Food & Supplies: $380.54
• Amazon: $30.22
• Miscellaneous
  1. Healthcare: $34.20
  2. Laundry Card: $20.00
  3. Christmas: $140.00
  4. Norton: $119.76

All in all, my expenses for December 2022 totaled: $1,525.76

This was certainly one of my more expensive months.

Well, what can I say? Tis the season! 🎄

Dividends vs. Monthly Expenses

I also like to compare my monthly expenses with my dividend income.

Once passive income is greater than living expenses, then financial independence is achieved!

• Related: How to Make $1,000 a Month in Dividends

Now let’s compare my monthly expenses to my dividend income.

I will compare my expenses to my December 2022 dividends and my average yearly dividend income going forward.

As of this post, my portfolio is set to generate $13,748 in dividend income over the next 12 months.

• December 2022 dividend income: $1,850.46 = 121.3% of my expenses covered in December.
• Average monthly dividend income: $1,145.72 per month = 75.1% of my expenses covered in December.

Conclusion

Thus, this concludes my monthly expenses for December 2022!

I am getting closer and closer to covering all my expenses. Soon, dividend income will be covering all of my monthly expenses!

I will continue work towards my goals and build my dividend dynasty!

So, how about the rest of you? Do you track your monthly expenses? Also, how close are you to covering expenses via passive income?

Let me know in the comments below!