Monthly Financial Snapshot: December 2018

Here’s my final expense report for 2018. Highlights include a weekend trip to New York to visit family, and holiday gift shopping.

After looking at my year as a whole, I decided to adjust how I account for my business spending. Previously, I had been recording all business expenses under its own category, but lumping in business income with the rest of my income. This had an effect of making my expenses look higher than they actually were, since the business expenses weren’t being negated by the income it brought it. I decided to change my methods by offsetting business expenses with income, so that only the net cost shows up as an expense to me. This will allow me more accurate projections as my assumed expenses will more closely align with my personal expenses. I went back and adjusted my expense records for the last two years, which explains why the ETA projections this month are so different than those in the past.

Category Dec-18 Comments
Rent $768.75 $750 for rent, paid via Plastiq
Internet $55.92 Internet is kind of expensive.
Cell Phone $0.00 Nothing this month.
Natural Gas $22.07 About average for the month.
Electricity $20.52 Below average for the month.
Water $38.46 Slightly above average
Groceries $234.77 Above average for the month.
Car Insurance $0.00 I pay every 6 months in April and October.
Gasoline $85.13 Did some extra driving this month, so total expese went up even as prices have dropped.
Car Expenses $0.00 Nothing this month.
Health $38.34 Heavily subsidized, high-deductible health plans through my work. Includes health and dental. Gym membership.
Other $0.00 Nothing this month.
Necessary $1,263.96 About average for the month.
Restaurants $2.45 Below average for the month.
Entertainment $15.00 Ticket for company holiday party
Shopping $23.42 Below average for the month.
Travel/Parking $475.23 NYC trip earlier in the month, plus picked up some discounted gift cards to use next year.
Gifts/Donations $923.46 Holiday gifts
Software/Games $94.65 Tax software for 2018, plus some subscription renewals.
Business $347.68 Inventory.
Other $3.23 Postage
Discretionary $1,885.12 Above average, mostly due to shopping and travel.
Total Expenses $3,149.08 About average
Gross Income $7,620.34 Below average
401(k) Match $207.74 My company matches 3% of gross salary
Taxes $1,098.38 Paycheck withholding
Net Income $6,729.70 Below average
Savings $3,580.62 Below average
Savings Rate 53.21% Below average, but still ok
Net Worth $231,957.43 Sitting at mid-July levels. Market performance in Q4 was a doozy. But still not terrible when all is said and done.

Projected time to FI (assuming 6% growth and 4% withdrawal rate): 6 years, 2 months.

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