These are my Monthly Expenses – May 2025!
Why track your monthly expenses?
Because budgeting, planning, and learning how to manage your finances is an essential component to achieving financial freedom.
The key to building wealth is to spend less than you earn and wisely invest the difference.
Over the past 8 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 freedom.
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 $1,300 in passive income each month while I sleep.
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May 2025 Monthly Expenses
So here is May 2025’s expenses:
- Rent: $614.34
- Utilities
- Electric: $41.48
- Gas: $24.65
- Internet: $93.00
- Cell Phone: $35.00
- Food & Supplies: $461.66
- Miscellaneous
- Amazon: $71.84
- Metro: $34.80
- Laundry Card: $20.00
- Home Insurance: $228.00
All in all, my expenses for May 2025 totaled: $1,624.77
May was a pretty standard month in terms of expenses.
The only outlier was my home owner’s insurance bill was due this month.
Everything else was normal. Amazon purchases included some hair products and a new shirt for the summer.
Speaking of which, I anticipate my electric bill starting to rise now that the hot weather is here and I will have the air conditioner on more often.
Other than that, nothing out of the ordinary.
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!
Now let us compare my monthly expenses to my dividend income.
I will compare my expenses to my May 2025 dividends and my average yearly dividend income going forward.
As of this post, my portfolio is set to generate $16,331 in dividend income over the next 12 months.
- May 2025 dividend income: $901.57 = 55.5% of my expenses covered in May.
- Average monthly dividend income: $1,360.94 per month = 83.8% of my expenses covered in May.
Conclusion
Thus, this concludes my monthly expenses for May 2025!
Soon, dividend income will be covering all 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!
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