Hey hey hey, y’all, September is over and now it’s October!
And with the start of every month, I publish a Net Worth Report to show y’all how my finances are doing.
For me, the point of doing this monthly is to show myself where I spend my money and to correct it for the months to come. This allows me to understand, mitigate, and reallocate unnecessary costs to help push me to Financial Independence faster.
Anyways, back in August, I spent a total of $583.77 and my net worth increased to $180,541.60.
With that, let’s jump in and see how I did in September!
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, they are referred simply because I think these products and services and useful and will be convenient to have.
September’s paychecks came out to a total of $975.36, with two paychecks coming in at $487.68 each.
I also received two Per-Diem checks totaling up to $1,494.00, an ATM Rebate (thank you Charles Schwab!) of $3.00, a quarterly investment distribution from dividends for $218.88, and some measly interest at $0.67.
All of this totals up to $2,162.92.
For those of you that don’t know, my paychecks come in ridiculously low because I am contributing 50% of my paychecks towards my After-Tax 401(k), which will allow me to utilize the Mega Backdoor Roth strategy to contribute an extra $35,000 to my ROTH IRA every year. Unfortunately, I haven’t been using this strategy to the fullest yet because I have not begun performing the rollover from the After-Tax 401(k) to my ROTH IRA.
Additionally, because my job is a travel job, I get these so-called “Per-Diem” checks because they were meant to be used for my living expenses while traveling. Since my job allows me to either use it or keep the rest, I decided to use as little as possible and put the rest towards investments, because in the end, who doesn’t like free money?!
Finally, you may see sometimes see Venmo transactions in my income category on my Net Worth Reports. The reason for this is because I tend to like paying for my friends, peers, or coworkers’ food with my card and having them pay be back because I can earn points with my credit cards. The points are then used to fund my travel worldwide and to expand my horizons with cool and awesome experiences.
This month’s expenses clocked in at $672.67, which is a bit more than August’s $583.77, but much lower than June’s $11,793.35 (who could forgot such a large month of expenses?!)
For September, my money was spent on the following categories:
- Restaurants: $460.41
- Gasoline/Fuel: $139.67
- Personal Care: $45.98
- Transportation: $13.00
- Online Services: $10.00
- Telephone Services: $0.01
Wow, I spent a total of $460.41 on food! I had a couple of large eating out sessions where I paid for my mom’s birthday dinner and a lunch session with my grandma. My dad’s birthday is October, so I expect a large expense there as well. And in the following month, November, it’ll be my sibling’s birthday, but I’m not sure what we’ll do for their birthday yet…
I know I said in August that I should start cutting back on coffee and tea. I found that I actually drank a lot more in September. I believe the primary reason is because I like coffee and tea shops as I could just sit there, use their WiFi, and just browse the internet while wasting my day away.
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 $24.45, I got about a tank filled, which can get me around 400-500 miles.
This is a necessary expense for now, but it can be reduced by driving less… and for September, I spent a lot on gas because I drove home (500 miles away from where I work) for my mom’s birthday. There’s also a pretty decent commute to work — 40 miles round trip and about 1.5 hours total. I could technically move closer to my work, but the surrounding area is not so great, there’s a bunch of crime: burglaries, theft, etc.
Personal Care: $45.98
This category, I could do without… somewhat.
I actually don’t recall what I spent in this category except for the fact they were all at Target.
I have to start watching this category carefully because that was ~$46 of expenses I could have saved.
Living in California has it’s perks, but the most frustrating part about it are the tolls.
I have this ridiculous hatred for tolls because I believe highways, bridges, and etc should be public for everyone to use.
Well, technically, I’m just being cheap. I could just add an additional hour to my drive and bypass the toll, but an hour of my time is technically worth more than $5, so I pay the toll anyways…
Online Services: $10.00
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.
So I finally figured out what this charge is for!
As it turns out, FreedomPop charges you $0.01 to make your your credit card is valid. I don’t know if they return your penny though, so I’ll have to look into that.
Anywho, FreedomPop just wants sure the credit card I have on file is a legit one and not one of those fake numbers you could get via an online credit card number generator.
Net Worth: $186,161.32
Luckily, my net worth increased this month from $180,541.64 to $186,161.32 (3.11% 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: $21,210.89
- Status: Failed
- Thoughts: Well, I definitely failed this… better luck next year!
- 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: $186,161.32
- Status: On Track?
- Thoughts: $14,000 more to go in 3 months (October, November and December). I might make it, but it’ll just be barely.
Finally, here’s a status report of how 2017 is going with my finances.
|Year To Date||$33,830.86||$21,210.89||--|
Overall, my net worth increased by 3.11% from $180,541.64 to $186,161.32.
How did you guys do in September? 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!