Monthly Status Report: June 2017

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Why do I do a monthly status report?

I find it best to do a month­ly sta­tus report for a few rea­sons.

  • It helps me eval­u­ate how I did the pre­vi­ous month. Did I hit a tar­get reduc­tion in spend­ing or did I go way over bud­get for a par­tic­u­lar cat­e­go­ry? Did I earn more? What was my over­all sav­ings rate?
  • It helps keep me account­able. How can I make an extra pur­chase know­ing I’ll have to explain myself to all of you? Talk about awk­ward when the blog­ger can’t walk the walk and talk the talk.
  • I want to prove this crazy thing called finan­cial inde­pen­dence works!
  • It pro­vides an exam­ple of real world bud­get­ing and expens­es. Some of the peo­ple I talk to haven’t ever seen a prop­er bud­get or seen one put into action, and part of the pur­pose of this blog is to lead by exam­ple!

I use Mint to help me track my spend­ing and keep an eye on my accounts. I also use a real­ly awe­some and super in-depth spread­sheet. So many for­mu­las….. Some peo­ple use Per­son­al Cap­i­tal and oth­ers use You Need a Bud­get (YNAB). What­ev­er tool (or com­bi­na­tion there­of) works best for you and your needs is the best one for you, since every­one and their bud­gets are dif­fer­ent.

Spending

June was an.… inter­est­ing month, to say the least. I dealt with house dra­ma (work start­ed on the exte­ri­or project and I gave 30 day notice to a ten­ant. more on that lat­er.) and work dra­ma (two straight weeks of busy­busy­busy. I’m not used to work­ing late or doing 10 hour days any­more!).

If you noticed I was post­ing less than usu­al in May, that would be why.

I also took the time to make a trip up to Min­neapo­lis to meet more like-mind­ed indi­vid­u­als. I had a super fab­u­lous time while there, even if it was a fair amount of dri­ving. I only wish I was lucky enough to live there. I could see things like a giant cher­ry on a giant spoon all the time! (art is weird.)

And you thought I was kid­ding. smh

Spend­ing was high­er than I’d like due to the house project, but over­all I feel like I did a pret­ty good job of watch­ing my spend­ing and not going bonkers.

Here’s how I did spend­ing wise in June!

 

Mort­gageNot includ­ing prin­ci­ple, which is account­ed else­where on my spread­sheet. Actu­al pay­ment is $705.43 a month!
Util­i­tiesRemem­ber that feel­ing I had last month? .…yeah.…
FoodI’m still in denial about how much food I eat. Don’t judge me too much.
PhoneSo low. I love Project FI!
AutoGas, an oil change, and park­ing.
Inter­netI still haven’t fig­ured out what my bill amount acu­tal­ly is.…
Insur­anceHealth insur­ance is paid direct­ly from my pay­check.
PetThe cat likes to have food every­day and clean lit­ter. What a weirdo.
Sup­portI’m real­ly slack­ing on this front. Sor­ry sis! It’s on my to-do list I promise.
BlogMonth­ly fees for sup­port and email.
Enter­tain­mentBought tick­ets for the week long fair con­certs com­ing up! Hey Brett Eldredge 😉
Shop­pingOne new soft­ball bat and a new shirt.
FeesAnnu­al fee for my Chase Sap­phire Reserve
Trav­elFlight to Vegas for 4th of July!
Gifts$30 to a friend for the Rock­star Finance #Giv­ing­Cards project.
HouseSec­ond pay­ment on the exte­ri­or house pay­ment and one cer­ti­fied let­ter fee.

All told, my spend­ing for June totaled $2,869.00 with­out the house project pay­ment, and $5,063 all told! I find it fas­ci­nat­ing I spent almost exact­ly the same amount in May and June. Only $2 off! I must be get­ting real­ly good at this whole try­ing not to spend mon­ey thing.

Income

Pay­checks: $3,194.07
Rental income: $1,100

Total: $4,294.07

June’s income stayed the line this time. Noth­ing unusu­al here! (Note the pay­check is after tax).

Savings

401k: $2,171.24
Roth IRA: ——
HSA: $220.82
Cash: $0

Total sav­ings: $2,392.06

As you can see, I’ve tem­porar­i­ly sus­pend­ed trans­fers to my Roth IRA until I get it switched over to Fideli­ty which is tak­ing way longer than I’d like and I’m not hap­py. On the oth­er hand, I’m super glad I get to “keep” this mon­ey in my pock­et for a while longer before I put it in the account.

Net Worth

Accord­ing to the Lab over on Mad Fientist’s site, my FI date is now 7 years and 3 months away, which means I’m at Sep­tem­ber 2024! Last month I was at August 2024 so I actu­al­ly gained two months instead of los­ing any time. I’m bummed, but that’s what hap­pens when one spends so much mon­ey on fix­ing up a house. Hope­ful­ly I only have one more month of trashed aver­ages.

My total net worth went up 1.18% to $158,132.22 this month! I wish it was more, but slow and steady wins the race and I have noth­ing to com­plain about!

Thanks for read­ing! What did your month look like? Did you stick to your bud­get?

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22 thoughts on “Monthly Status Report: June 2017

  1. It’s nice to see your net worth inch up and the mort­gage inch down. Con­grats! Spoon­bridge & Cher­ry — clas­sic Min­neapo­lis des­ti­na­tion. I love my city. Are the mee­tups around here only for blog writ­ers? I’m start­ing to won­der if I should start a blog myself.

    June was our first month in the red in a long time 🙁 Quar­ter­ly esti­mat­ed tax pay­ments (~$3100) & an unex­pect­ed car repair ($537). We booked tick­ets for our first inter­na­tion­al trip as a fam­i­ly with kids, and that set us back (~$2900, air­fare + pass­port appli­ca­tion fees for the two kids). I opened a new CC to final­ly start trav­el hack­ing and hit the min­i­mum spend straight away. With any luck, the next big air­fare trip with the kids will be done with miles/points instead of dol­lars. We took a mini-vaca­tion this month: camp­ing! What a great time — food was cooked on fires, tents were pitched, kids swam on beach­es, kayaks were pad­dled and rocks were climbed. All for less than $350.

    I should update my stats at the Mad­Fi­en­tist lab. Last month, it said we were a year out from FI, but after anoth­er month of big spend­ing, that could go up. Keep up the good work, Gwen!

    • Not just for blog writ­ers! Join us in the North Stars group on Rock­star Finance! Mee­tups get post­ed and dis­cussed there.

      Booo for lots of spend­ing. I know the feels. Good job on snag­ging that bonus for the big spend though!

    • I’ve already hit up some slots! Won a bunch.… but then I gave it all back at black­jack 🙁 The cards just didn’t fall right :/

  2. Pret­ty sure your that fee is for CSP, not CSR. Curi­ous if you decid­ed to keep both CSP and CSR or if not, which one you are going to prod­uct change / close.

    Also, I have the same time to FI as you, but your NW is still about $1.5k ahead! Been work­ing on catch­ing up to you all year, but you are always just ahead of me! Just goes to show the pow­er of com­pound­ing and the huge advan­tages of start­ing to save ear­ly.
    Mitchell recent­ly post­ed…Month­ly Finan­cial Snap­shot: June 2017My Profile

    • Good catch! Yes that is for my CSP and I have plans to PC it into an Ink.

      I’m sur­prised, myself, how much com­pound­ing has helped me out this year! Makes me feel a lot bet­ter as I’m pump­ing tons of mon­ey into this house.

      • I don’t think you can PC it to Ink as Ink is a busi­ness card and CSP is a per­son­al card. Will like­ly have to PC it to Free­dom or Free­dom Unlim­it­ed. BTW, it’s too late for you at this point, but for any­one else read­ing this, you could have PC-ed before your 12 months by PC-ing to Sap­phire and then PC-ing to Freedom/Unlimited the next day.

        • This is what I get for com­ment­ing while on vaca­tion. I will be PC’ing my Sap­phire into a Free­dom.

  3. That giant-spoon pic­ture looks so refresh­ing! Sounds like a fun/busy month, hope­ful­ly July gives you a lit­tle break. I like see­ing how your num­bers progress from month to month, keep it up! 7 years isn’t bad at all, espe­cial­ly con­sid­er­ing that you’re in your twen­ties. Have fun in Vegas and Hap­py Fourth of July!!
    Matt @ Prof­itable Mat­ters recent­ly post­ed…Intro­duc­tion to Cryp­tocur­ren­cy: What Is Bit­coin?My Profile

    • Thanks Mr. Wow! Speak­ing of goals in sights.… only 3 more months until we all hang out in Ecuador!

  4. That is true, slow and steady wins the race. And even though you want to reach FIRE soon­er than lat­er, don’t for­get to enjoy the jour­ney dur­ing the growth peri­od. Even at only a lit­tle over 1% growth, it is actu­al­ly a decent­ly big num­ber when com­pared to your over­all net worth. Keep up the great work. Have fun on vaca­tion!
    Div­i­dend Daze recent­ly post­ed…Recent Buy – Gen­er­al Mills (GIS)My Profile

  5. Fel­low land­lord, I’m sor­ry you are hav­ing ten­ant trou­bles! Look­ing for­ward to a hap­py res­o­lu­tion and a bet­ter ten­ant.

  6. I’m so sor­ry about all the bug and ten­ant trou­bles! I’ve been fol­low­ing along on Twit­ter and I felt so bad about it all. :/

    Min­neapo­lis Sculp­ture Gar­den is on my list of things to see. 🙂 I just love pub­lic art dis­plays.

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