Monthly Financial Snapshot: February 2017

Obviously, a significant amount of progress this month, mostly due to my company’s annual bonus getting paid out. Thanks to it, I was able to max out my Roth IRA for the year, as well as pay off the larger than average credit card bills from starting my business last month, all without having to touch my emergency fund. Those expenses also allowed me to earn my final batch of rewards from credit card sign-ups, some of which I will put to good use on my upcoming trip.

Business income is starting to trickle in. I received my first payment of $259 this month from items that I have sold, with more soon on the way. I haven’t yet made enough to cover my startup costs, but I project that I will become profitable fairly soon. Looking forward to growing the business over the next few months, especially once I get back to a regular work schedule.

Feb-17 Comments
Rent $768.75 $750 for rent + $18.75 in fees for Plastiq in order to pay via credit card
Internet $60.92 Internet is kind of expensive out here in the boonies
Cell Phone $0.00 Zero this month because I paid $100 upfront in January.
Natural Gas $23.50 Only slightly higher than normal.
Electricity $26.98 About average for the month
Water $42.81 My actual water usage is only about $5, but my town tacks on so many fees that the bill comes to $40+ every month! 🙁
Groceries $150.03 About average groceries for this month.
Car Insurance $0.00 I pay every 6 months in April and October.
Gasoline $42.88 About average for the month
Car Expenses $0.00 Nothing to see here, move along
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 $1,129.21 About average for the month
Restaurants $13.00 Ate out with a coworker once this month.
Entertainment $9.99 Netflix
Shopping $52.05 Not much personal shopping this month.
Travel/Parking $47.66 Good deal on hotels.com gift card + flight taxes for flights to Hakodate
Gifts/Donations $10.00 Donation to my favorite Youtube channel via Patreon
Software/Games $0.00 Nothing to see here, move along
Business $1,215.87 Additional investment in inventory, office supplies, and services.
Other $225.61 More expenses related to my ongoing personal project.
Discretionary $1,574.18 About average for the month
Total Expenses $2,703.39 Above average, but not too much so
Gross Income $20,016.37 Regular salary, annual bonus, and business income
401(k) Match $189.22 My company matches 3% of gross salary
Taxes $5,791.51 Federal + state income tax + payroll taxes.
Net Income $14,414.08 Way above average. Sad that this only happens once a year. Oh well.
Savings $11,710.69 What I didn’t spend this month. Most of this currently goes to my 401(k).
Savings Rate 81.24% Savings / Net Income. Super high this month!
Net Worth $125,731.46 Market gains plus large income for the month equals big jump!
Projected time to FI (assuming 6% growth and 4% withdrawal rate): 7 years 10 months

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