This week, there will be no new post for the “Around the World for Free” series and instead, we’ll be going over my finances in March!
Back in February, I spent a total of $1,267.00 and my net worth grew to a total of $137,394.84.
Related: February Net Worth Report, remember to check it out.
The best thing I like about March is that it’s the beginning of spring. It also means Daylight Savings Time is coming soon and will bring us longer days and the beautiful green nature.
But with longer days, does this mean that I’ll spend more since there’s more time being spent outside?
Who knows? Let’s jump into the March Net Worth Report and figure it out!
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March’s paychecks came out to a total of $6,857.43, with two paychecks coming in at $1,028.72 each, a fat Per-Diem check of $2,082.00, an enormous tax refund of ~$2,444, and some measly interest and investment income at $0 and $273 each.
For most people, the best part of tax season is when you get that big fat refund as it bolsters your income for the month and then you can go spend it on something that you “deserve”.
However, for me and the FI crowd, it’s a bit different as we would try and get our refund as close to $0 as possible.
By getting our refund as close to $0, this means that we would get a larger paycheck and not give the government a free loan for the course of the year. We could then utilize the extra money and invest it into mutual funds and accumulate a year’s worth of returns instead.
Anyways, for some reason, investment income was reported in my Personal Capital visualization.
I haven’t been doing a good job of tracking my dividend income or my investment contributions, but I have a rough idea. I’ll probably have to clean that up sooner or later and maybe add that as a new section.
Woah! $2,696.15! That’s a huge expenditure for March from February’s $1,267.00.
What did I actually spend my money on?
For starters, I had to pay $1,295 in taxes to the State of California. I currently work in a few states, so when I file my tax return, I would have to file for multiple states.
My second highest expenditure was in Loans, which came in at $459.99. This was necessary as I had to pay off my car’s auto loan payment.
Unfortunately, I’m still in the claims process, so I’m not sure whether or not my insurance company will pay for the theft of my automobile.
Anyways, my third highest expenditure was in General Merchandise, which came in at ~$442. When broken down, the $442 was used to purchase two items, a $399.99 2 year 24 Hour Fitness Gym Pass and a $43 Amazon Package.
I purchased a gym pass to get myself back in shape. I’ve been eating pretty unhealthy when traveling for work and 24 Hour Fitness is all over the Untied States, so it should be relatively easy to find one to work out in.
For the Entertainment category, I spent $269 for a ticket to FinCon. Yes, FinCon! That means I’ll be heading out to hang out with the other FI Bloggers! It’ll be fun and I hope to learn a lot more things about FIRE and blogging as a whole!
In Insurance, I paid $104 as I had switched from a quarterly payment plan to a monthly payment plan as I was unsure if I still needed to keep my policy since my car was stolen back in January. Maybe the insurance company will refund me? I’m not sure.
And last, but not least, the food categories, Groceries and Restaurants came out to a total of $79 and $44 each.
Unfortunately, I’m unable to breakdown it into subcategories like I did in February, since I was being a bit lazy and didn’t track it, but hopefully I’ll be able to do it again for April.
I think I did particularly decent in this area as I had to travel to another work location, so I did not have access to a kitchen and was unable to cook for 2 weeks. I expect the Restaurant category to increase in April and May as I will be traveling out and not have access to a kitchen for a while.
Net Worth: $151,622.88
With that, my net worth increased to $151,622.68 from $137,394.84! An increase of $14,227.84, which is a 10.35% increase!
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: $4,855.92
- Status: On Track!
- Thoughts: Still possible to make it, just need to reduce my spending a little.
- 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 by line-by-line.
- Try to reach $200,000 Net Worth by the end of the year.
- Current Net Worth YTD: $151,622.88
- Status: On Track!
- Thoughts: I think I’m doing great in this category and might reach this goal in June or July, provided I still get regular Per-Diem checks due to work travel. If I don’t, then I expect to reach it around the end of the year.
Finally, here’s a status report of how 2017 is going with my finances.
|Year To Date||$14,567.76||$4,736.28||--|
Overall, I would say that I did pretty well for March. My net worth increased by 10.35% from $137,394.84 to $151,622.68.
How did you guys do in March? 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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