Category Archives: Budget

First Quarter 2018: Spend Report

Ok, so the year has gotten off to a bit of a rough start on the spending front.

The good news is that my income for the first 3 months of the year (including post-tax paychecks and pre-tax 401k contributions) has been $34,495. So, my $13,675 of spending for 1/4 of the year doesn’t seem that bad when I’ve saved $20.8k thus far.

*Also, theoretically, if I receive my stock at the end of the year, I could have an extra ~ $4000 of savings per month which is significant (and makes my bad spending choices look slightly less bad?)

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December Budget: “Half Month” Check In

Since we (I) managed to spend way too much this year, I’m starting a better way of holding myself accountable to sane fiscal living by posting a budget update twice a month. I know I need to get a handle on my spending, especially with baby on the way — and the hope to own a home one day. Here’s how December is looking thus far:

This only includes my spending for the month Continue reading

2018 Budget Planning

It’s time to plan for a baby. And 2018. I’m aiming to put together a realistic budget, and determine how – with baby I can accomplish my goal of $650k networth by the end of the year (*personal networth) en route to my major next goal of $1M by 40, or sooner. I’m bumping that up to 38 because after that I’d like to save for the down payment of a house. This gives me 4 years to hit this goal. Continue reading

November Networth and Budget Recap ($541,989)

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November was a reasonably successful month for networth growth. According to NetworthIQ, my networth is now $541,989. This is a 2.98% (or $15.6k) monthly increase from the end of October.

End of Month Spend Report

Income: $7826
Spend: $3907
Remainder: $3919

Spend Breakdown

  • Rent: $1350
  • Auto: $284
  • Bills: $170
  • Entertainment: $48
  • Food & Dining: $707
  • Health: $114
  • Infertility: $563
  • Shopping: $1821*
  • Travel: $190
  • Other: $10

Went a little (ok a lot) crazy with shopping this month… mostly due to the Sephora Rouge sale. Don’t judge. I’m planning to return a chunk of items I bought that I don’t need, so that will hit December’s spend. Had I not gone psycho on shopping, this month would have actually not been that bad.

Despite spending way too much at Sephora (*this includes all of my hair products for the year, which I acquire for 20% off. And, other things I don’t need.)

My budget goal was $4400 in spend and I actually only spent $3907 so while that’s close, I’m $500 under my target spend. Not bad. I can do better, but not bad.

And all this spend was BEFORE I knew I was pregnant… so I’m definitely going to focus on cutting down the shopping habit going forward. The good thing about living in a 1 bedroom apartment is that it’s hard to go too crazy buying things for the soon-to-be newborn. And, I now have a very real “why to save” goal ahead of me… coming in 8 months! OH MY GOD. My objective is to save as much as possible before baby comes. That, and kick ass at my job so my boss allows me to work remotely and keep earning income when I return from a very brief maternity leave. (AH.)

December Spend Target: $2950 spent / $4876 saved

  • Rent/Home: $1350
  • Auto: $300
  • Bills: $200
  • Entertainment: $100
  • Food & Dining: $700
  • Health: $100
  • Infertility: $0
  • Shopping: $100
  • Travel: $0
  • Other: $100

 

October Networth & Spend Report: $519k

Despite not having a job for four solid months this year (and spending $20k on travel during that time), with the stock market’s latest performance my net worth is still up significantly. I realize what goes up must come down, but for now I’m enjoying seeing a higher net worth than I expected given how the job situation has gone down this year, and my not-so-frugal global travels.

It’s a little upsetting that if I hadn’t taken the trips and if I was able to obtain a job sooner, my net worth would be much higher — but my goal was always to close 2017 with $500k in net worth, and I’m really happy that I likely will accomplish that, barring any crazy stock market crash.

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I do owe my husband a lot of money (we keep our accounts separate) but he’s a good lender with really great rates (no interest, just hugs.) 🙂

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October spending definitely was high, given all the traveling. But I’m hoping for Nov and December expenses will be significantly reduced. I am taking one weekend trip but otherwise it should be a relatively cheap month. Here’s how October played out:

*note – believe it or not, this is my portion of monthly spend only. My husband has a separate budget, including his portion of the rent.

  • TOTAL SPEND: $7640
  • Home – $1400 (rent)
  • Auto & Transport – $621 (car detailing, new battery, gas)
  • Bills & Utilities – $331 (accidentally had international call for $75)
  • Entertainment – $154 (concert, netflix, etc)
  • Food & Dining – $583 (only half of month when not traveling)
  • Health & Fitness – $930 (infertility treatment, glasses)
  • Shopping – $1280 (new clothes for job, prob returning some)
  • Travel – $2234 (last part of honeymoon)
  • Other – $107

Obviously, I can’t spend $7640 each month!

Spend Goals for November:

  • TOTAL SPEND: $4400
  • Home – $1400 (rent)
  • Auto & Transport – $300 (gas)
  • Bills & Utilities – $200
  • Entertainment – $200
  • Food & Dining – $800
  • Health & Fitness – $1000 (infertility treatment costs)
  • Shopping – $200
  • Travel – $200
  • Other – $100
  • (Not included – investments ~$3000)

 

Thinking About Retirement Savings… as a Married Couple

My husband and I have very different financial philosophies. He spends very little and keeps his savings in a bank account. I spend too much but given my income have managed to save quite a bit — and I aggressively invest my savings in index funds, stocks, and alternatives.

Together, we have about $550k in savings, with $443 of that in my investment accounts ($235.5k in retirement included in that), and about $100k in his bank accounts. Over the last few years he has been investing in a Roth IRA, so he probably has about $10k in retirement savings to his name. As a married couple, he’s no longer eligible for an IRA, and he is an independent contractor, so I’ve done some digging into how he can increase his retirement savings, you know, before we retire. Continue reading

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2016 Spending

Although I saved a substantial sum in 2016, I definitely overspent in many areas. It was the year of my wedding so even though my parents contributed a sizable sum to the event, I splurged and spent too much on it outside of their contribution. We did a small “mini moon” which also cost something, but in 2017 we will splurge on a bigger international honeymoon. Here is a quick overview of how my spending went into 2016…

Income (after tax and 401k): $112.4k
Spending: $81.2k
(remaining / savings: $31.2k + $18k  (401k) = $49.2k saved)

Auto & Transport: $5.1k
Bills & Utilities: $1.5k
Education: $2.2k
Entertainment: $1.37k
Fees: $443
Food: $11.7k (yikes)
Gifts: $1.67k
Health: $5.4k (not counting insurance)
Home (rent and home things): $17.3k
Personal Care: $4k
Shopping: $14.8k
Wedding: $9.6k
Travel: $6.2k Continue reading

Budgeting with 50/20/30 Guideline

As I work to be better at budgeting, I searched the Internet for strategies for how much I should be spending on various items each month. I like the 50/20/30 strategy which seems reasonable and maybe even do-able.

Basically, you split your after-tax, after-401k take-home income into 3 buckets:

50% – fixed expenses
20% – financial goals
30% – variable expenses

So my after-tax income (now that I’ve maxed out my 401k for the year) is $9500. That breaks down to:

$4750 fixed
$1900 financial goals
$2850 variable expenses
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August Net Worth and Budget Report

Spending has been getting a bit carried away this summer – and I need to get it back in check as I begin to seriously contemplate a very drastic career change (requiring a major paycut and possibly additional schooling.)

In August, my net worth was relatively flat at $394k (this includes my car worth estimate, so I’m really considering my net worth to be $386k.) My goal for the year is $400k, which leaves 4 months to save $14k. On my current income, if I stop being SO HORRIBLE at giving in to overspending, that should be very do-able. However, I will likely leave my job in October or November, meaning that most of the saving has to happen in September. This month can’t look like last month. I’m embarrassed how much I spent! Continue reading