February is over and it went by extremely fast!
Being the shortest month in the year, it is the only month that can go without having a single full moon. The last time there was a full moon in February was 18 years ago, back in 1999! The next time we’ll be able to see a full moon in February will be next year, 2018!
Back in January, I spent a total of $773.17 and my net worth grew to a total of $125,986.32. If you haven’t checked out my January 2017 Net Worth Report, remember to check it out! Now, let’s see how we did in February!
Brief Disclaimer: Some of the products and services on this post may offer compensation for referrals. For the products and services that do not receive compensation, there are referred simply because I think these products and services and useful and will be convenient to have.
February’s paychecks came out to a total of $2,057.44, with two paychecks of $1,028.72. This is more than January’s paychecks because my 401(k) contribution normalized and had switched from an after-tax contribution to a pre-tax contribution.
Other Income came out to a total of $3,044.04, with Per-Diem coming in at $2,794.04 and a Wells Fargo Checking Account Sign-Up Bonus coming in at $250.00.
The best thing about Per-Diem is that it is not taxed as my employer is responsible for paying the taxes, so the extra income goes straight towards my investments!
For the Wells Fargo Checking Account $250.00 Sign-Up Bonus, all I had to do was open up a checking account with them and perform a Direct Deposit of over $1,500.00. I’ll probably keep the account because they accept money order deposits through their mobile application, which is super convenient for when I do some manufactured spending.
Wells Fargo Offer (Live until March 24, 2017): https://www.wellsfargo.com/jump/checking/prospect-offer/
In addition, just like credit cards, I will probably start hitting up banks more often and grab their promotional bonuses for some extra cash. I can meet most of the requirements pretty easily as I have some cash “floating” around for “manufactured spending”. Manufactured Spending allows me to accrue miles and points that I can use to take me and others around the world for free.
My expenses went up to $1,267.00 from $773.17 last month. I’ve made a few extra purchases here and there for convenience sake, but it was mainly due to eating out at restaurants and trying out new experiences.
$611.05 went to the Entertainment category. Here is the following breakdown on exactly what I spent on:
- LG V20 (New Phone): $398.49
- Ski Lift Tickets: $139.00
- Ski Equipment Rental: $52.36
- Tax for Friend’s Flight: $11.20
- John Wick 2 Movie: $10.00
I purchased a new phone because my old phone could barely play Pokemon Go. Yeah, that’s a pretty lame reason.
The other reason was because T-Mobile was having an insane sale on the LG V20. For only $398.49, you can get the LG V20 (MSRP: $769.99) and a LG Minibeam Projector (MSRP: $349.99)!
In addition, I also get a reimbursement of $150.00 from my employer for a new mobile device. So if I sell the LG Minibeam Projector and add the $150.00 reimbursement, I basically got the phone for free!
Finally, the old phone is now dedicated solely to work, which means there will be no more work emails on my personal phone!
Other than the phone, the remainder of the costs was spent during our mini-college reunion in Salt Lake City, Utah, where we went ski-ing, hung out, drank some beers, and watched some movies. I should have some images posted on my Instagram soon too, so check it out when I upload them!
$459.99 went to the Automobile department, where I am still paying off my car, even though it’s stolen. I am actually still waiting for the police report, so I can submit it to the insurance company and see what they will do about it.
In the best case scenario, the insurance company will free me from the loan… and in the worst case, I guess I’ll just have to pay it down.
My grocery bill for February went up a lot compared to the $77.24 I spent in January.
I found out that I actually had a Costco card the whole time and bought some protein powder, chicken breasts, broccoli, and greek yogurt. Boy, protein powder is expensive!
I’m not going to go into exactly what I purchased, but here is a general breakdown of what I purchased:
- Ingredients: $127.96 (protein powder is considered an ingredient for my protein shakes, right?)
- Junk Food: $6.48
- Taxes: $6.52
Restaurants + Gas: $55.00
Finally, the rest of my expenses went to eating out and pitching in ($10.00) for some of the gas my friend has used for driving us around Salt Lake City.
I ate out three times and coincidentally, all three meals came out to be $15.00, totaling $45.00.
Net Worth: $137,394.84
With that, I end February with a net worth of $137,394.84, which is an increase of $11,408.52 from January’s $125,986.32 (or 9.05%). Most of the increase is because of how great the market has been and possibly from my 401(k) contributions, which I should really keep better track of.
2017 Financial Goals Status Check
If you remember back in my December Net Worth Report, I had written about a few goals I wanted to achieve. If you don’t remember, that’s alright as I’ll be writing them below so you can follow along as well!
- Spend less than $20,000 and downsize as much as possible.
- Current Spending YTD: $2,040.17
- Status: On Track!
- Thoughts: Spent a little too much in February and expect to do the same in March, but hopefully it will go down after those months!
- Make my budget line-items more clear and not vague.
- Current Line-Items: Pretty clear.
- Status: On Track!
- Thoughts: I think I am doing well on this, as I have been breaking down what I buy line-by-line.
- Try to reach $200,000 Net Worth by the end of the year.
- Current Net Worth YTD: $137,394.84
- Status: On Track!
- Thoughts: I have convinced my parents that we should off on purchasing a house for now, as there are cheaper alternatives outside of Los Angeles. I am currently aiming to find a low cost of living area for when they retire or maybe we can stay in Los Angeles as our current rent situation isn’t pretty bad.
Finally, here’s a status report (a new addition!) of how 2017 is going with my finances.
|Categories||January||February||Average||Year To Date|
Overall, I would say that I did pretty well for February. My net worth increased by 9.05% from $125,986.32 to $137,394.84. It was also fun being able to head to Salt Lake City, Utah and create some cool memories with my college roommates.
How did you guys do on February? Have you been keeping up with your goals and resolutions? Let me know in the comments below!
If you aren’t already tracking your accounts or net worth, check out Personal Capital! It’s an amazing online tool that provides great visualizations and is easy to use!
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