I’m a horrible blogger, I forgot about you after only one entry, haha. Well things are going well with the finances. I managed to stick to a ~$2,200/month spending budget while living in D.C. for the months of January and February. For the upcoming months I would like to continue this spending trend, it doesn’t seem terribly impossible:
It works better for me to lump “Everything Else” and periodically track my spending on Mint. The other expenses are highly variable, and it doesn’t really make sense to predict the new pair of shoes I need. I do dine out frequently, but I also don’t drink so $200 is a reasonable food budget for me even in a big city.
After January and February, my current net worth is $11,451. I received three paychecks in February, which definitely helped with the net worth jump (I only budget for 2). My holdings as of March 1 were as follows:
|Cash & Savings||$3,946||$2,575||($1,371)|
Income & Spending
January and February were months of smooth sailing. For the month of February, my income was a bit higher for the aforementioned reasons. I technically did overspend in the Food category, but that was mostly due to a business trip. Those expenses were reimbursed.
I do not bother budgeting my FSA account. After all, it must be used by years end. I am beginning to think that $1,625 might not have been enough. I know that I’ll likely be spending $500+ during the month of March. I did receive a $400 reward card from my health insurance company which could potentially last the rest of the year barring a hospitalization and/or surgery.
For January and February I decided not to contribute much to my retirement accounts. Instead, with the market in flux, I paid off my sizable piano loan. I would like to max out my 2015 Roth IRA contribution before mid-April, so I will be dipping into my savings for that.
I filed and I’m in the green. I decided to put my returns towards an Amazon credit. I haven’t included my ~$500 Amazon balance in my net-worth, but it will be interesting to see how much harder it is to stick to my budget when it dwindles.Now that I’m finally settled in DC, I don’t do much online shopping.
I’m going to Colombia in May. I paid for my flight using reward points, and I’ll be staying with friends. I’m almost certain that I will have to make a few financial exceptions for the month of May to accommodate the trip. It will be worth it! I don’t plan on seriously limiting my spending on this trip, but I tend not to spend much on vacations. A year ago I went to Korea for a week and I brought $200 or so and I had the hardest time getting rid of it. I ended up coming back with a bunch of cute things like penguin socks. Other than food, I don’t really see a lot of extra expenses, but of course I’ll get a souvenir.
I pay far too much for my apartment and don’t get anything from it. I am seriously contemplating purchasing a condo.