Skip to main content

Monthly Financial Snapshot: February 2018

Well, it's that time of year again, when work takes over almost all my waking hours for about a month and I have almost no energy left for anything else. Highlights for this month included getting a stand mixer for my kitchen (more baked goodies = less depressing work environment), completing my tax return (first year filing with self-employment income) and receiving a fat refund (thanks to January's strategic tax move), and losing enough money in the market to offset almost all of my savings for the month. So it goes.

Rent$768.75$750 for rent + $18.75 Plastiq fees
Internet$55.92Internet is kind of expensive.
Cell Phone$0.00Already paid for 1 year of service through MintSIM. = $15.51 / month!
Natural Gas$18.89A little below average. Kind of strange given how much extra baking I've been doing lately.
Electricity$22.23A little below average for the month.
Water$30.87Below average.
Groceries$201.70Above average. Bought a lot more meat last month than I usually do, and the bill reflects that.
Car Insurance$0.00I pay every 6 months in April and October. Payment went up slightly compared to last time.
Gasoline$63.01About average for the month.
Car Expenses$0.00Nothing this month.
Health$48.44Heavily subsidized, high-deductible health plans through my work. Includes health and dental. Also monthly gym membership.
Other$0.00Nothing this month.
Necessary$1,209.81About average for the month.
Restaurants$25.55Ordered some pizza once.
Entertainment$5.99Went to see Black Panther last weekend.
Shopping$271.84Got a kitchenaid stand mixer!
Travel/Parking$124.00Annual fees for my hotel credit cards.
Gifts/Donations$10.00Donation to my favorite Youtube channel.
Software/Games$126.98Turbotax fee. Filing as small business = high price. Might self-prepare next year now that I'm more familiar with the process.
Business$531.56Inventory + annual subscription for my accounting software.
Other$0.00Nothing this month.
Discretionary$1,095.92Above average for the month, mostly due to business expenses.
Total Expenses$2,305.73Above average for the month, but not too terrible.
Gross Income$6,926.952 paychecks + business income
401(k) Match$203.08My company matches 3% of gross salary
Taxes-$5,260.28As promised, my oversized tax refund arrived, offsetting the weird numbers from last month.
Net Income$12,390.31Way above average, due to the massive tax refund.
Savings$10,084.58About 2.5x higher than normal, thanks to the tax refund.
Savings Rate81.39%
Surprisingly, not that far above average. February and March typically are my best savings months, but I was expecting higher from the tax thing.
Net Worth$203,461.32
February wasn't a good month for the markets so despite my high savings rate, I am pretty much exactly where I was last month. Can't win 'em all.

Projected time to FI (assuming 6% growth and 4% withdrawal rate): 4 years, 11 months.