July has passed and it’s five more months until 2018, not long until the new year, but it’s still summer!
Also, happy late Independence Day everyone!
Have you hit the beach or participated in any outdoor activities yet?
Luckily, I have!
I made a trip up to Oregon with my friend and checked out the Multnomah Falls Hike Trail. It was a pretty scenic route that linked multiple falls together. You should check it out when you have the time!
Anyways, back in June, I spent a total of $11,793.35 and my net worth decreased to $166,762.64 unfortunately.
With that, let’s jump in and see how I did in July!
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.
July’s paychecks came out to a total of $2,662.86, with one paycheck coming in at $2,175.19 and one at $487.67.
One of my paychecks came in at a higher amount month because my 401(k) contributions have been maxed! Since my employer caps my at the contribution limit, the left-over would be refunded back to me. The other was a lot lower ($487.67) because I am not contributing to the after-tax option, allowing me to build up my retirement stash even more through the Mega Backdoor Roth.
I also received a Per-Diem check of $906.00, a Venmo Deposit of $24.00 (for paying for my friends’ food bill), some measly interest of $0.52, and a weird record-keeping transaction that I’m not sure of for $11.25.
This month’s expenses clocked in at $428.91, which is much lower than June’s $11,793.35.
The expenses were much lower this month because I didn’t have to buy a car and there were no other expenses that I had to do.
Anyways, for July, my money was spent on the following categories:
- Restaurants: $210.07
- Clothing: $52.95
- Gasoline: $43.62
- Personal Care: $35.97
- Service Charges: $33.90
- Entertainment: $24.40
- Automotive: $33.22
- Online Services: $10.00
- Entertainment: $5.72
- Groceries: $3.45
- Telephone: $0.01
July’s Eating Out habits weren’t so bad.
I spent a total of $210.07! I spent a bit more than June, but it’s starting to cost a bit more because I’ve been trying to eat a bit healthier (darn organic prices).
I’ve also started to drink a lot more coffee and tea, so that’s not really good since a cup of coffee is pretty expensive.
I bought some new clothing to make myself look spiffy at work and to replace some of the old clothes I had.
I usually don’t spend much on clothes, so a replacement once in a while is worth it, I think.
I also purchased a few more in August, so that’ll help me sooner in later.
Now that I have a car again, I have to fill up the tank whenever it runs out.
A tank of gas for my hybrid car takes about $25.00 to fill, so with $43.62, I got about a tank and three-quarters filled, which can get me around 700-800 miles.
It also doesn’t help that I drive a lot on the weekends to play Pokemon Go… sometimes I can even reach 100-200 miles depending on where I go in the city. It might be a pretty expensive hobby if I keep it up, haha.
Personal Care: $35.97
Personal Care is pretty simple.
I got a haircut for $35 in preparation for an interview.
Unfortunately, I didn’t get the job…
On the good side, I did get a nice looking haircut that I can now rock at work with.
Service Charges: $33.90
I’m going to be honest and I’m not sure what I get these charges, so I should take a closer look at them when I can.
One of them says it’s a credit balance refund, but that doesn’t make sense because it shouldn’t go into my expenses and into my income.
The other one is an Asset Based Charge, so I would assume that’s the maintenance fee (expense ratio) that is on my index funds.
I paid $33.22 to park in the and take the bus transit around for work and for when I was in the city for the weekend checking out all of the hipster coffee shops.
Unfortunately, I’m not that familiar with the city, so I was unable to take advantage of some free street parking when and paid for parking instead…
Online Services: $13.88
For Online Services, the $10.00 is the hosting cost of Smart Provisions at Digital Ocean, a cloud infrastructure provider. It’s not much, but it’s the amount I pay for full access of my VPS (virtual private server).
If you’re interested in having your own VPS, you can sign up at the following link: Get $10 of Credit at Digital Ocean By Using This Link, $10 of Credit is enough for 1 month of hosting with a $10 VPS.
This was mostly app purchases in the app store to help improve the workflow on my phone.
Needless to say, nothing was improved yet, so it might not have been a worthwhile purchase.
I only purchased a few protein bars for groceries when I was super hungry, other than that, I didn’t do much for groceries and only ate out.
I’m not entirely sure where my 1 cent went, but it was for the FreedomPop service, which is supposedly a free phone service.
Net Worth: $173,307.50
Luckily, my net worth increased this month from $166,762.64 to $173,307.50 (3.92% increase), which is better than last month’s decrease!
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: $19,954.45
- Status: Failed
- Thoughts: Not going to make it, I don’t think I’d be able to somehow reduce my spending to $100.00 a month in order to make it. Darn car purchase!
- 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: $173,307.50
- Status: On Track?
- Thoughts: I think I’m on-track. The car purchase shouldn’t have hampered my ability to $200,000 by the end of the year.
Finally, here’s a status report of how 2017 is going with my finances.
|Year To Date||$29,012.03||$19,954.45||--|
Overall, this is actually one of my lowest expense months ever! My net worth increased by 3.92% from $166,762.64 to $173,307.50.
How did you guys do in July? Have you been keeping up with your goals and resolutions? Did you blow through it already? 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!