Monthly Financial Snapshot: April 2017

Pretty good business progress this month. It’s chugging along without too much additional effort at this point. Still not quite profitable yet, but it’s getting there. At current rate, will break even sometime in September/October and with any luck will score some profits in Q4 to finish out the year.

In other news, hit 2 mini-milestones this month. The first is reaching $100k of savings from work. This represents after-tax money that I have earned from working which I funneled into savings instead of spending on current consumption. Because I want to minimize how much money gets wasted used for taxes, most of this money ends up in tax-advantaged accounts. So it’s fitting that my second milestone achieved this month is reaching a balance of $100k in those accounts. Of course, not all of it is contributions, as unfortunately the government and my company limit how much I can contribute into those accounts, but market returns made up for the shortfall.

Anyway, enough talk and on to the numbers:

Apr-17 Comments
Rent $750.00 $750 for rent + no Plastiq fees this month due to a promo rate
Internet $60.92 Internet is kind of expensive out here in the boonies
Cell Phone $0.00 Still using up my prepaid credit.
Natural Gas $25.01 Slightly above normal, but pretty reasonable
Electricity $27.18 About average for the month
Water $40.94 About average for the month
Groceries $182.26 About average for the month
Car Insurance $259.42 I pay every 6 months in April and October.
Gasoline $67.64 Higher than usual due to some extra driving.
Car Expenses $142.40 Annual registration + oil change
Health Insurance $13.34 Heavily subsidized, high-deductible plan through my work. Includes health and dental.
Other $0.00 Nothing to see here, move along
Necessary $1,569.11 Little higher than average due to medium-term expense payments
Restaurants $45.00 Ate out with coworkers a few times
Entertainment $9.99 Netflix
Shopping $279.50 Normal shopping + birthday gift for myself + souvenirs for friends
Travel/Parking $334.82 Long-term parking, travel SIM, cash for food + transport
Gifts/Donations $10.00 Donation to my favorite Youtube channel via Patreon
Software/Games $15.17 Renewed a domain name
Business $38.18 Inventory to sell + state sales tax remittance
Other $10.78 Postage
Discretionary $743.44 Little lower than average despite last-minute vacation expenses
Total Expenses $2,312.55 About average for the month.
Gross Income $7,616.24 2 paychecks this month, business income, and birthday gifts
401(k) Match $194.72 My company matches 3% of gross salary + profit-sharing from last year
Taxes $879.73 Federal + state income tax + payroll taxes.
Net Income $6,931.23 Slightly above average.
Savings $4,618.68 What I didn’t spend this month. Currently about half going to my 401k.
Savings Rate 66.64% Savings / Net Income. A bit higher than average.
Net Worth $145,889.49 Making good progress. Hope to hit $150k very soon.
Projected time to FI (assuming 6% growth and 4% withdrawal rate): 7 years, 5 months

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