Monthly Financial Snapshot: October 2016

Oct-16 Comments
Rent $765.00 $750 for rent + $15 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 $32.88 $30 + taxes/fees for 5 GB of 4G data through T-Mobile
Natural Gas $0.00 No gas bill this month due to timing.
Electricity $0.00 No electric bill this month due to timing.
Water $42.48 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 $187.72 About average grocery bill for the month.
Car Insurance $224.98 I pay every 6 months in April and October. Decided to increase my liability coverage, so I will pay an extra $30 ish next month on top of this
Gasoline $40.64 A little less than average this month.
Car Expenses $0.00 Nothing broken or needing maintenance this month!
Health Insurance $19.30 Heavily subsidized, high-deductible plan through my work. Includes health, dental, and vision.
Other $0.00 Nothing to see here, move along
Necessary $1,373.92 Meh. About average.
Restaurants $26.00 Ate dinner with coworker twice this month.
Entertainment $12.98 Netflix + bought an ebook on sale last week.
Shopping $351.43 First trip to Menards this month for household stuff. And a trip to Walmart as well.
Travel/Parking $468.26 This month I visited a friend in Oklahoma for a few days. This includes all expenses I incurred for the trip.
Gifts/Donations $10.00 Patreon donation to my favorite YouTube channel
Software/Games $0.00 Nothing to see here, move along
Other $161.42 More one-time expenses for the personal project.
Discretionary $1,030.09 A little higher than average, but not terrible.
Total Expenses $2,404.01 Higher than average, but not too bad.
Gross Income $5,416.85 A little higher than normal thanks to earnings from quarterly ESPP sale.
401(k) Match $157.12 My company matches 3% of gross salary
Taxes $924.92 Federal + state income tax + payroll taxes. Have already maxed out pre-tax 401(k) contributions so no deduction left for me. Boo!
Net Income $4,649.05 A little higher than average.
Savings $2,245.04 What I didn’t spend this month. Most of this currently goes to after-tax 401(k).
Savings Rate 48.3% Savings / Net Income. Better than last month, but still worse than average for me.
Net Worth $ 98,478.04 Sooo close to $100k! Markets were uncooperative this month. Hopefully will cross $100k next time.
Projected time to FI (assuming 6% growth and 4% withdrawal rate): 7 years 9 months
 
Going forward, I’m not going to correct for the large spending that my personal project demanded. It will roll off my projections by next year like all my other spending, so until then I have to live with the consequences.
On the other hand, there’s a very good chance that I will soon get a raise which will boost my gross income by about 20%! More savings (and taxes) for next year!

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