Tag Archives: networth

March 1-20 Spending ($3176.93)

March Spending Breakdown Check In (March 1 – 20)

Fixed Costs = $1422.28
————–
$71.33 — Cable Bill
$129 — Health Insurance
$87.33 — Car Insurance
$57.62 — Phone Bill
$1050 — Rent
$27 — Gym Bill
————–

Gas Totals = $121.30

—————

Color Code

$1543.58 — Fixed Costs & Gas
$387.98 — To Be Reimbursed
$371.16 — Food / Drug Store
$0 — Clothing / Beauty
$105.54 — Furniture / Household
$512 — Investment
$256.78 — Other


———

$2277.06 Spending
$512 Investment
$387.87 To Be Reimbursed
———-
$3176.93 Total March 1-20

————————-
breakdown by type:

Cable / Internet Bill:
$71.33

Health Insurance:
$129

Sharebuilder Investment:
$500

Car Insurance:
$87.33

Play TBR – Tables:
$50

Cash Withdrawl

$50

Cell Phone Bill

$57.62

Gym Bill
$27.00

Rent
$1050

Sharebuilder Fees
$12

Sheet Music for Play (TBR)
$6.39

Drug store
$3.79

Dinner for Two
$28.03

Target – bookshelf and ottoman
$105.54

Quik Stop
$5.07

Drug Store
$13.62

Antiques for Play (TBR)
$15.16

Quik Stop
$7.40

Groceries
$6.04

JoAnn Fabrics (TBR)
$43.22

Home Depot (TBR)
$45.24

Burger King (TBR)
$15.34

Gas
$63.48

Dinner
$11.69

Book
$11.85

Groceries
$14.97

Dinner for Two

$42.40

ITunes – sound for play (TBR?)
$29.88

Taco Bell (food)
$3.38

Bagels for two

$7.10

Drug Store
$63.25

iTunes (TBR?)
$9.99

Ace Hardware ($30 TBR)
$52.34

Target

$32.46

Joann Fabric (TBR)
$20.25

Gift for Boyfriend’s Birthday
$150

Home Depot (TBR)
$89.76

Ace Hardware (TBR)
$62.75

Groceries
$6.99

Gas
$57.82

Groceries
$169.90

March Budget

I start making a good chunk of more money next month at my next payday, but for now I’m going to try to be careful to stay within my paychecks that I cashed today.

$3,700 Total to Spend/Save for March

$1050:
Rent / Utilities
$71.33: Cable/ Internet
$57.00: Verizon Phone
$128: Health Insurance
$138: Car Insurance (paid in advance)
$200: Gas
$27: Gym

SAVINGS

$1000 ING Direct for Taxes Account
$300 Roth IRA
$250 Sharebuilder
——————————
$3083

LEFT FOR SPENDING IN MARCH…

$617

$250 Gift for Boyfriend’s Birthday
$300 Food
$67 Entertainment / Other

…………

March is official “be fucking frugal” month. Next month my income goes up $1500, so there will be a lot more flexibility. Unfortunately my boyfriend’s birthday falls BEFORE that. Well, I’ll take him out to a nice dinner and get him a gift that won’t be as extravagant as last year’s Wii. Oh well. I could invest less in my Sharebuilder account this month if I want to spend more on the birthday, so that’s always an option.

I also hypothetically have another $825 owed to me for one of my freelance jobs and another $300+ owed to me for that cell phone bill that my old company was supposed to pay. So if I actually get paid that money, then I’ll be doing fine. But I don’t know when those checks will come, if ever. If they do come, I’m going to put more towards my Roth, and spend a little more on the bf’s birthday.

The good news is that I won’t have much time for spending money in March. My show opens March 28, which means the major cost of the month will be GAS to get to and from rehearsal at the theater about 30 minutes away. That’s why I put $200 in gas for the month. BUT I’m getting paid $500 to direct this production, after the fact, so my balance is going to look a lot healthier in April. It’s March that will be tight, since I don’t know when any of these other paychecks will be coming in.

Sadly, March is also the month when I wanted to seek out a tax consultant to discuss how to arrange my accounting as a freelancer. But I guess I’ll have to take a stab at figuring out my estimated quarterly tax for Q1 08 by myself. Meanwhile, I also have to file my taxes, but I’ll wait to April to do that, so I have some money to at least go through TurboTax or something.
Although my income last year was pretty low, prob about $34k or less, so maybe I can get away with filing for free. Hmm. That’s for another entry, eh?

The 60 Hour Freelance Work Week

While working 60 hours at a salaried job each week seems beyond boring, diversifying one’s time and one’s ongoing work portfolio can lead to professional fulfillment on many levels, including by not limited to one’s bank account.

I recently found out that in order to be a full-time salaried employee at my current company, I need to sign on for 50-60 hours a week. While I love my job AND the company, that’s still not enough to have me sign every possible work hour away to one job.

Besides boredom, the reason to keep my ‘after 40’ job hours open is because some of my other opportunities pay much better than what I’m spending most of my week on. At my 40 hour per week job I make about $27 an hour right now. But I’m also taking my late evenings to work as a freelance marketing writer, with projects I’m getting paid $50 per hour for.

I’m not sure what my value is as a full-time employee versus freelance, but for some reason I feel like my $50 per hour charge as a freelancer is justified, while I could never imagine asking my freelance full-time employer for such a raise.

When it comes down to it, I’d rather make slightly less at my “day job” and use the opportunity to pitch my writing skills for extra income that ultimately covers health insurance and other things I need.

That brings about the question… how much can I actually make in one month without not sleeping and going completely insane…

Monthly Potential Income
1. $4800 — Gig 1. 40 hours per week (on contract)
2. $400 — Gig 2. Approx 8 hours, or 4 projects per month at $50/hr
3. $250 — Gig 3. 10 hours of administrative Work at $25/hr
4. $400 — Gig 4. 8 hours of research & article writing at $50/hr
—————————————————————————–
$5850 per month

Which is a lot of money. Sort of.

Minus $2340 ((40% taxes (25 % tax bracket + 15 % self-employment tax))) that comes out to a grande total of…

$3510 per month after taxes, or a net income of $42,120 per year.

That’s still pretty good, I think.

Budget Check Feb 1 – 15: $3608.12 (YIKES!)

I’m going to start checking in about my monthly budget half-way through the month in order to figure out what sort of money I have left to spend on things.

Smart, eh? Yea, I know.

Oh thanks for the recommendations about my bf’s gift in my last entry. I’ll be buying him something in a week or so (can’t afford to now anyway) so keep those recommendations coming! ThinkGeek.com is good start. I never know what computer stuff to get him. He doesn’t have Apple stuff yet, so I can’t go that route (tho he’ll buy a Macbook Pro as soon as they release an updated version). He has tons of computer stuff and I just have no idea about what he needs and what he’d want. Oh, food for thought to all of my fabulous gift recommender’s – he loves, loves, loves anything that’s blue.

Ok, without further ado… my poor budgeting for the 1/2 month leading up to today.

Total Spending feb 1 – 15: $3608.12 (YIKES!)

I thought I was over spending this month. I definitely did not realize how much!!!

A lot of the $ has to do with finally getting around to paying late fees on a variety of bills. I also had a little shopping spree this month, which you’ll notice below. It was all at a designer discount store! I even returned some of it!!!

—————–

$1050: Rent
$404.86: Medical
$403.95: Car (three months insurance + gasoline)
$80.28: Phone
$737: Investment / Savings/ Taxes
$345.40: Food – dining out ($87 of this will be reimbursed)
$31.31: Food – groceries
$10.71: keep the change “savings”
$483.53: Clothing & Beauty (incl. hair/waxing/dry cleaning)
$32.46: Entertainment
$28.80: Taxes

—————–

Breakdown…

RENT – $1050
$1050: rent

MEDICAL – $404.68
$146.68: doctor’s bills / medical
$258: Check for AETNA medical insurance

CAR / AUTO – $403.95
$200.6 Car Insurance (dec/jan)
$34.02 gas/auto
$87.34 car insurance (feb)
$50 – gasoline / auto
$10: check for parking ticket #1
$21.99: Gasoline

PHONE – $80.28
$32.46: phone charger
$47.82: verizon bill

INVESTING/SAVING – $737
$100 Investment into Mutual Fund
$600 Transfer to ING Direct (savings) for Tax Season
$25: transfer to prosper account to lend
$12: investing fees

FOOD/DINING OUT – $345.40 ($257.88 after reimbursement?)
$52.72 dining for two – food
$3.50 food
$13.85 lunch for two – food
$2.34 food
$44.87 lunch for two – food
$3.65: food
$28.35: dinner for two – food
$87.52: Pizza for my cast (to be reimbursed?)
$42.68: dinner for two
$5.36: food
$8.39: food
$5.94: food
$30.47: dinner for two
$14.69: breakfast for two
$1.07: food

FOOD/ DINING IN – $31.31
$12.94 groceries – food
$8.25: groceries, food
$10.12: groceries – food

KEEP THE CHANGE SAVINGS — $10.71
$.79 keep the change transfer
$.53 keep the change transfer
$.06 keep the change transfer
$2.35: keep the change transfer
$3.35: keep the change transfer
$2.19: keep the change transfer
$1.13: keep the change transfer
$.31: keep the change transfer

CLOTHING/BEAUTYBUYING — $483.53
$362.58: clothing (returned much of this purchase)
-$255.43 clothing returns (I returned this much and bought the above shirt)
$124.47 clothing: one BCBG sweater (on sale) and earrings
$20: Eyebrow Wax / beauty
$78.20: dry cleaning
$81.19: two shirts – clothing
$96.34: one shirt – clothing
-$23.82: macys returns

ENTERTAINMENT – $32.46
$26.48: magazines / books
$5.98: check for magazine subscription

TAXES – $28.80
$28.80: check for 2002 taxes. Uh, a bit late on that.

New Budget, Now That I’m Making $$$

New Budget

5200

$1300 ING Savings For Tax Account
$300 to ING for Emergency Account
$300 to ING for Grad School
$200 to ING for House
$300 to Sharebuilder / Investing
$200 to Roth
$100 HSA
————————————————
$2400

$1050: Rent / Utilities
$71.33: Cable/ Internet
$48.33: Verizon Phone
$128: Health Insurance
$138: Car Insurance
$100: Gas
$27: Gym
——————————————
$1562.22

=

$1237.78 left for…

food/clothes/car/fun

$400 food / vitamins
$300 clothes / tech
$200 gas
$150 gifts
$100 dry cleaning
$50 laundry
$30 charity
——————-
$1230

Now am I forgetting anything?

——————————-

At the end of the year, from my ING tax account I will pay my taxes. I should not spend all the money on taxes because I’m “taxing myself” at a 25 percent rate for all the money I make, but in the end all my money will not be taxed at that rate.

Any extra money is going towards a Digital SLR camera!!!

Budget – Fixed Monthly Costs

Since I’m oh-so bad at not racking up random late fees on things, here are my fixed costs
and what they should cost me each month:

$1050: Rent / Utilities
$71.33: Cable/ Internet
$48.33: Verizon Phone
$128: Health Insurance
$138: Car Insurance
$100: Gas
$27: Gym
——————————————
$1562.22

Total Set Monthly Income (actual, not dreamed)

$3700

Have to put 25% of that into taxes savings account…

$925 into savings account.

Leaving $2775 for monthly spending
MINUS
$1562.22 of fixed costs

——————————————–

That hypothetically leaves
$1212.78 for food, fun, investing, medical spending, extra gas, etc

A reasonable budget would be:

$400: Food
$100: Invest (roth IRA)
$100: Invest: ETF/Stocks
$200: HSA Account for Medical (Need to Set Up!)
$200: Clothes / Makeup
$100: Extra Gas
$112.78: Entertainment

What am I missing?

Monthly Spending

Total Non-investment & Non-rent spending for Jan: $1778.34

Investment $: $4062

($3000 Roth 2008, $1050 Sharebuilder, $12 Sharebuilder fees)

Rent: $1050

Total Spending in January: $6890.34

Things I still owe money for that I should have paid this month:

1. Dermatologist Bill: $160
2. Driver’s Insurance $200
3. Two fix it tickets for late registration: $20

Things I’m owed money for
1. AT&T bills for past 3.5 months, owed over $300 from previous company
2. $200 — I need to send in paperwork to old health insurance for doctor’s visits I paid for before my insurance card arrived (should offset dermatologists bill)
3. 10 hours of work (I need to file an invoice asap) at news company at $25 an hour, $250

—-
What I spent Money on This Month…

$201.41: Verizon Wireless Bill (my minutes went way over last month, grr)

$67.85: Safeway (Groceries)

$62.76: Longs Drugs (drug store)

$129: Health Insurance

$.97: Bank of America “Keep the Change Transfer” to savings

$44.03: Safeway (Groceries)

$19.08: Safeway (Groceries)

$81.31: Haircut

$55: Brazilian Waxing (ouch it hurt)

$28.71: Brunch for two

$1050: Rent

$6.17: 24 Hour Fitness Dues (i’m not sure why I owed any more money this month, but I’m too lazy to complain about a $6.17 charge. They just better stop charging me now.)

$.75: Parking

$2.98: Bank of America “Keep the Change Transfer” to savings

$106.41: AT&T Phone Bill (that I didn’t owe that my old company needs to still reimburse me for!)

$.59: Bank of America “Keep the Change Transfer” to savings

$31.77: Longs Drugs

$.23 Bank of America “Keep the Change Transfer” to savings

$71.29: Whole Foods (groceries)

$15.47: Dry Cleaning (spend too much on this.. long story I’ll explain later)

$1.24 Bank of America “Keep the Change Transfer” to savings

$113: Hair Color

$23.71: Whole Foods (Groceries)

$7.40: Safeway (Groceries)

$.89: Bank of America “Keep the Change Transfer” to savings

$19.46: Lunch for Two

$.54: Bank of America “Keep the Change Transfer” to savings

$65.80: Lucky (Groceries)

$.20: Bank of America “Keep the Change Transfer” to savings

$500: Transfer to Sharebuilder Investment

$15.77: Whole Foods (Groceries)

$.23: Bank of America “Keep the Change Transfer” to savings

$71.33: Cable/Internet Bill

$33.19: Whole Foods (Groceries)

$6.50: Lunch

$1.31: Bank of America “Keep the Change Transfer” to savings

$500: Transfer to Sharebuilder Investment

$50: Transfer to Sharebuilder Investment

$12: Sharebuilder Monthly Fees

$6.99: lunch

$.01: Bank of America “Keep the Change Transfer” to savings

$75.60: Piazza’s Fine Foods (Groceries)

$30: Gas

$.40: Bank of America “Keep the Change Transfer” to savings

$37.82: Bookstore

$.18: Bank of America “Keep the Change Transfer” to savings

$3000: Roth IRA Investment for 2008

$91.20: Smog Check & Oil Change

$20.09: Walgreens (drug store)

$14.06: Clothing

$2.74: Bank of America “Keep the Change Transfer” to savings

$26.07: Dinner for Two

$18.26: Whole Foods (groceries)

$1.67: Bank of America “Keep the Change Transfer” to savings

$161.34: New Cell Phone

————————————-

Other than investments, my largest cost was obviously groceries…

TOTAL MONTHLY SPENDING ON GROCERIES

$441.98: Groceries

That’s actually not as bad as I expected, considering how often I go food shopping. I did really good on NOT spending a lot of money on clothing this month. However, I do owe money for various bills I’ve yet to pay. That will come out of my February salary.

Crap. I got pulled over.

I can’t blame anyone else for this mishap. My registration expired… a while ago. However, I paid the $120 registration fee at the DMV (which, I think included a late fee) and was to get my smog checked by Jan. I had until Jan 1 to get my smog checked and get my stickers for my plates.

Of course, being the procrastinating idiot that I am, I waited a little too long to get this done. I received one ticket (for $35) for my expired registration while my car was parked in a public lot. So I finally got around to getting my smog checked THIS MORNING. I paid $90 for my smog check & an oil change that was overdue.

Ten minutes later, I was driving on the freeway and I got pulled over.

I showed the cop my smog receipt and the little registration card (that may or may not have been expired… I’m a bit confused about whether it expired on the 1st of the month, or at the end of the month.)

The worst thing was that somehow my insurance card had gone missing. I kept it in my glove compartment, but the robbers threw everything out of my glove compartment when they went through my car last month. I thought I had put everything back, but apparently my insurance information was missing.

So now I have this “notice to appear” paper that says that I have an infraction for an expired registration and it also notes that I did not have insurance on me, though neither the infraction or misnomer boxes are checked for that. I’m not sure what that means.

The cop said that I should get my sticker and then go to any police department with the paper. He didn’t really explain whether I’m going to owe a zillion dollars or if I just need to prove that I’m actually registered to avoid paying.

This really sucks because today I decided I’m going to start being really tight on my budget and living with a minimal amount in my checking account. I figure I’ll spend less if I pretend I have less to spend. Simple psychology ought to do the trick.

Except now I’m worried I’m going to get an overdraft fee because of all of these unexpected expenses. That’ll teach me to stop procrastinating, eh?

I owe quite a bit of money for different things… $200 for health insurance… $150 for my cyst removal bill… $35 for my ticket… and now who knows how much more for this other ticket-type-thing.

Right now I have $600 in my checking account. I’m supposed to get paid Monday for my work… so that would bring me up to $3900. BUT I plan on putting $1000 of that in a special ING savings account for taxes. That leaves me with $2900, and I have to pay rent in a few days. So I’m at $1850. Not so bad, but after I pay all those bills, plus my phone bill, plus the cable/internet bill, plus the gym bill, plus buy a new phone in two days (my old one is lost and I am eligible for the discount on a new phone on Monday)… well, I won’t have much money left for food.

At least this setup will keep me from spending money on clothes I don’t need!
At least that will keep me from

Oh Boy! A $600 Rebate!

I’m a little excited about getting a $600 rebate this spring, thanks to the tax rebate package that passed today. While I’m not their ideal rebate grantee (I’ll likely invest the funds, maybe into my Roth, which now has $2000 left until I max it out for 2008, though) it will make it easier to buy a few new spring pieces to my wardrobe without feeling terribly guilty about my spending (to be honest, guilt and financial logic never stopped me from spending anyway).

The good news w/ the rebate is that even if I end up owing money on taxes for 2007, I’ll actually still get a rebate or… break even.

Sweet.

I wish this happened every year!