| Assets | June-16 | August-16 | $ Change |
|---|---|---|---|
| Cash & Savings | $1,374 | $2,378 | +$1,004 |
| Roth IRA | $8,623 | $9,465 | +$842 |
| 401K | $8,115 | $8,917 | +$802 |
| FSA | $440 | $440 | +$0 |
| Pending | – | $550 | +$550 |
| Liabilities | June-16 | July-16 | $ Change |
| Credit Cards | $295 | $863 | ($568) |
| Net Worth | $18,257 | $20,887 | +$2,630 |
| % Change | +14.4% | ||
Well the goal for August was to save my entire third paycheck but then I splurged early on and then purchased a $1,200 plane ticket that I had forgotten to budget. Thankfully as a graduation gift my mom is paying half of the ticket in $50 bi-weekly installments, which explains the $550 pending category.
I did receive an extra $175 in income from my employer. Also, something I hadn’t mentioned before was a large debt that I had been trying to pay back to my employer for relocation. Now that the debt is paid I have $725 over that I had budgeted toward the debt, I now feel comfortable counting it towards my net worth. Both explain the jump in my cash and saving.
I have roughly $200 in FSA reimbursements I need to claim. So it will be nice to have that extra cash on hand.
Even though I blew a bit more of the paycheck than I expected, if I take into consideration the pending payments from my mom, my net worth increased 14.4% or ($2,630). Without the pending payments my net worth increased 11.4% ($2,080). I’m thankful that all these extra expenses fell on a month in which all the stars seemed to align.
Below is a summary of my spending for the month:
| Category | Budgeted | Actual | Remaining |
|---|---|---|---|
| Rent | $1,650 | $1,650 | $0 left |
| Fixed Expenses | $70 | $93 | $23 over |
| Food | $200 | $342 | $142 over |
| Plane Ticket | – | $1,216 | – |
| Everything Else | $780 | $879 | $99 over |
| Total | $2,700 | $2,964 | $264 over |
I went out to eat more than usual this month and that explains the overspending in the food category. I didn’t stay on budget in the everything else category. The two primary purchases that put me over at the last minute included some groceries from amazon, and travel insurance for my trip.
I went over my fixed expenses because I prepaid my internet bill.
I didn’t renew my Amazon Prime subscription. I am going to go ahead and switch over to the monthly subscription with the hopes of renewing only 9 times (or less) throughout the calendar year.
As a side note, I do not budget for my health care spending since it is reimbursed from my FSA. I’m also trying to get into the mentality of doing everything I can to better my health rather than save money on my health care.
