This year is off to a decent start. My net worth increased by a little over 10% in January. It helped that the stock market performed well and that I received three paychecks. However, as mentioned in the previous post, January was a bit atypical. I took a two week vacation and I’m settling in to my new condo.
I’m still experimenting with how I want to post my current holdings and net worth. In December I was less detailed than usual. For January, I’ve decided to go back to being more detailed in hopes of controlling my online spending. Typically the reason why I go over budget during any given month is because of a website called Amazon.com.
Without further adieu, my net worth at the end of January can be summarized below:
|Liquid Assets||Start||End||$ Change|
|Cash & Checking||$450||$700||+$250|
|Illiquid Assets||Start||End||$ Change|
- Cash & Checking – I try to maintain a $500 cash cushion in my checking account.
- Amazon Balance – This is a new account I’ll be tracking in hopes of curbing my impulsive Amazon spending.
- Emergency Fund – I contributed a bit and had some illiquid savings bonds (ibonds) obtain liquidity.
- Irregular Bills – I hold cash for less-than-monthly bills in this account. I included this account in my “Cash & Checking” category.
- Short-Term Savings, Long Term Savings, Brokerage #1 & 2 – I saved & invested a little.
- Savings Bonds – This decreased due to savings bonds (ibonds) becoming liquid assets.
- Home Equity – I made my first mortgage payment this month, and I’m finally gaining equity.
- 401K & Roth IRA – the market performed well and these accounts saw a nice increase.
- Credit Cards – for the first time in a while I’m carrying over a credit card balance. It’s not much and it’s on a card with 0% APR. I’m not thrilled about it at all.
- Medical – sigh, medical bills…
- Furniture Loan – I’m paying this off over the course of 18 months. It is a 0% APR loan.
- 401K Loan – I borrowed money from my 401K to finance my house.
Budget & Spending
One thing I have yet to officially post is a budget for 2018. The biggest change from last year, of course, will be considerably higher housing expenses. I will not be disclosing my housing expenditures. I’ll have to figure out a way to incorporate increases in my HOA fees on this blog. The budget/savings plan I’d like to follow for the remainder of the year is as follows:
|Bills & Utilities||$250|
Since January was a weird month, I didn’t intend to follow a budget, but I did want to keep my spending comparable to that of a typical month ($650). Unfortunately I went quite a bit over. Below is my spending:
|Mortgage & HOA||$-||$-|
|Bills & Utilities||$-||$200|
- Vacation – this includes everything spent while on vacation including food, taxis, souvenirs, etc.
- Bills – I had an annual bill I paid this month ($50 towards this blog) , I am still waiting on my first electric bill so I expect that to be considerably high.
- Food – I didn’t expect to eat out much after my vacation, but it was Restaurant Week ($85) and I also went out to a going away lunch ($15) for a colleague. I subscribed for grocery deliveries as well ($15) due to being sick.
- Transportation – ubers and lyfts
- Medical – this includes both direct and indirect healthcare expenses. These are reimbursable.
- Everything Else – I did a bit more shopping than planned, mostly on Amazon. Hopefully I do better in February. Moving in to a new place is expensive.
I was about $530 over budget. Thankfully my extra paycheck and pay raise helped offset the over spending.
My 2018 Goal Progression is below:
|Irregular Bills Acct||$50||$50||$1,180|
* – the value for my Roth IRA is my YTD contributions
In February I would like to limit the number of financial spending transactions to the number of days in the month. I’m actually not sure how many transactions I usually make, but I think 28 is a good number to start off with. Last month there were 72 such transactions, but a lot of that was because of my vacation. I also would like to limit my online shopping to Mondays and Thursdays.
That’s all I have for January folks!