Tag 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)

 

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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

New Unemployment/Unemployed Budget

Well. Here I am. Unemployed. Since I received no severance and was not eligible for payout of any PTO (side effect of the supposed unlimited vacation perk), I’m left with my final paycheck and waiting for unemployment to (hopefully) kick in.

When you apply for unemployment they ask you a whole host of questions and I’m concerned I won’t qualify, though I should. Even if I do qualify, it’s a whopping $1800 a month (before taxes) and they make you wait a week to start claiming, so the first month is actually more like $1350 for the month. And $1350 is about how much I pay in rent. Thank goodness I’ve been somewhat smart about saving this year (I knew the job was not going to last long given how I performed with the heaping of anxiety and lack of sleep brought on by a very non-supportive work environment and a long commute I should have never signed on for in the first place.)

I thought it would be a good time to check in regarding my networth and budget. My networth goal for this year was $400k but that was a stretch to begin with (a $100k increase from 2014 including savings and interest.) Right now, counting all my assets I’m at about $350k – which isn’t bad considering the way the markets have performed this year to date. I’m sure with some better investments and less stress spending I’d be a little closer to my initial goal, but not by enough that it would really be meaningful. I have to take a moment and applaud myself for reaching $350k networth. Even though it’s not the big $500k, $350k feels sizable enough to merit a moment of self congratulations. For some reason, this amount makes me feel better about my lack of job stability due to my mental illness. While I can’t touch all that money immediately, and after taxes it would be less, if I was desperate there’s enough there to get through my own personal instances of deep depression (yeay bipolar life.) I don’t feel secure enough yet to have kids, or quite frankly, to get married (which is happening this spring anyway), but I feel like this is an accomplishment of some sort I can be secretly proud of… especially given that just 10 years ago I had about $5k to my name and was basically living paycheck to paycheck.

Here’s how the $350k breaks down:

  • $27.5k – cash
  • -$46 – credit debts
  • $153.5k – stocks (taxable)
  • $178.3k – retirement funds
  • $6.5k – 529 / grad school fund
  • $8k – approx car value

Now, my goal for the rest of the year, revised, is to end the year above $350k. This just brings me back to my older goals of saving $50k a year – which I’ve been doing for the last couple of years. I though this year given my income increase I could save a whole lot more, but you know, markets fluctuate so much, and maybe I actually bought enough stock “on sale” this year that I’ll have a really good 2016. Who knows.

The trick at this point is not significantly dipping into my cash to live between my current job and my next job… especially since I don’t know when said next job will start (or what it will be.) The $1350/$1800 a mo in unemployment is barely enough to cover standard recurring expenses, so I’ll have to dip into my savings a bit. I’m hoping that by Dec 1 I have a job so this leaves me with just 1.5 months of unemployment, which shouldn’t hurt too much. With the wedding coming up, and all the expenses for that, I really, really, really need a job – even though I admit it’s nice to have a few weeks to just stop and focus on planning this crazy event since the lack of time to do that was also stressing me out.

But I want to plan for “worst case scenerio” 3 months without a job. I’ll give myself 3 months to find something I really think I can be good at – because the last thing I want to do right now is to jump into a position where my anxiety will get to me again. I’m hoping to find something with a bit more flexible work environment – the amount of work I can get done at home in a quiet space far surpasses what I can do in some horrible open office environment filled with stress-inducing distractions. I’ve made a pact with myself that I’m not going to apply for things I know I’ll ultimately fail at given the work environment. I also am probably going to apply to grad school because I know the field I’m in now rarely meets my minimum requirements for sanity, so despite the great pay, I think I need to take a break from chasing income and now start to actually plan for sustainability. In short, I can’t be crazy mommy who gets fired from her job every year – my future kids don’t need to see that. I want them to see me in my best state – one where I actually like my job more or less. Not the me who I am now. I would never want them to see that person.

So I’m assuming I will need to spend about $2000 a month additional from my savings in order to cover everything from gas to get to job interviews to food to grad school applications to a potential trip home to the east coast to spend some quality time with family when I have the time (dad’s cancer isn’t getting better and despite that he drives me nutso whenever I see him I always think – will this be the last time?) So… say I have $5k of my savings to spend over the next 3 months… give or take. That puts me at roughly $350k at the end of the year – but I’d then be worried I couldn’t find another job. I know that I have some talent and abilities… but I just need to figure out where and how to apply them in a way where someone will pay me money to do so, and I won’t flip out after 3 months or so feeling like I’m so overwhelmed but the piles of things to do and not be able to prioritize those things or even know where to start. Yes, this is the life of a woman who has super anxiety, bipolar II and ADHD. I’m not saying those are excuses for anything – I take full responsibility for losing this job, for falling into the same pattern. But there’s a part of it that is just inherently who I am. I’m different than most people, that’s for sure. I just need to figure out where I fit.

And I’m going to be 32 in a month, which is – such an adult. My body definitely feels like I’m in my 30s — I pinched a nerve a week ago and my back and arm are still in pain. If I don’t sleep a full 8 hours a night I feel it for many days later. And don’t get me started on drinking / hangovers, oy. That’s just to say that I’m not a kid anymore. I’m a full grown adult. Looking around at my apartment I have to stop and wonder if this is what I pictured adulthood to be like. Well, I never actually envisioned myself as an adult. Maybe that’s part of the problem. But when I envisioned adulthood as a general concept, it certainly didn’t look like this — unfinished apartment, used couch that’s falling apart, bike in the corner of the living room because there’s no where else to keep it, a career that doesn’t feel right at all, getting married (ok that’s a start) to a man who also doesn’t have much of anything figured out yet either, to a long life ahead of me that I imagine will poof suddenly transform into one filled with maturity once I have my own kids (I know it doesn’t happen that way, I just like to think there’s some kind of inciting incident to finally growing up.)

Oh well. Today, I just need to focus on not dipping in too deep to my savings this year, and ultimately continuing on to my “round 1” $500k goal. That was supposed to happen next year. It won’t. But maybe I’ll get there before I’m 40.