Financial Update – January 2019

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks joint net worth progress.
  • Spending Table – Compares monthly spending to an average (for us) budget, keeping us accountable for additional expenses. I will also include my personal discretionary budget as well; I will not include my spouse’s discretionary spending, which I do not see.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. Our current goal is to reach “Financial Freedom.” By the time we reach this goal we will have:

  • A retirement account that can support us when my husband hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my husband and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times our combined gross salaries without bonuses or equity.

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

jan 2019

Spending

We’ve created a joint budget which represents the average amount we can expect to spend each month. This is average amount we need to comfortably live in case of a job loss, emergency, etc. I expect to frequently mostly keep in line with our budget when amortized over the year, even though amounts may vary from month to month.

For privacy reasons, there are two things I do not include in our joint spending updates: our monthly mortgage and charitable donations (pegged at 10% of our net income).

j19.png

Here is my own personal discretionary spending for the month. I try to spend $600 or less each month for my “fun money” since that’s the allowance that’s apportioned to me and my husband.

january 2019

Monthly Summary

Huh, I guess stocks bounced back. Cool.

I bought insoles and sneakers on our joint, per earlier musings and a conversation with my husband. We also tried floating in sensory deprivation tanks for our anniversary which was super uncomfortable at the time but left my muscles super relaxed thereafter. I’m kind of interested in trying another round, but I’d want to do it multiple times in a week to see whether it’d help my terrible office-worker back.

In other news, I’m looking for new a job. I guess I should probably try to stay for a year, at least so I can hit my one year cliff. But, yeah, it’s not going that well. I’ve done a few interviews so far and I’m realizing that this role is inherently pretty stressful and political. Not sure what to do yet. 😦

Keeping on keeping on.

Notable things that happened in January include:

  • Floating!

How were your finances in January?

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Financial Update – December 2018

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks joint net worth progress.
  • Spending Table – Compares monthly spending to an average (for us) budget, keeping us accountable for additional expenses. I will also include my personal discretionary budget as well; I will not include my spouse’s discretionary spending, which I do not see.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. Our current goal is to reach “Financial Freedom.” By the time we reach this goal we will have:

  • A retirement account that can support us when my husband hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my husband and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times our combined gross salaries without bonuses or equity.

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

december

Spending

We’ve created a joint budget which represents the average amount we can expect to spend each month. This is average amount we need to comfortably live in case of a job loss, emergency, etc. I expect to frequently mostly keep in line with our budget when amortized over the year, even though amounts may vary from month to month.

For privacy reasons, there are two things I do not include in our joint spending updates: our monthly mortgage and charitable donations (pegged at 10% of our net income).

december joint.png

Here is my own personal discretionary spending for the month. I try to spend $600 or less each month for my “fun money” since that’s the allowance that’s apportioned to me and my husband.

spend ind

Monthly Summary

Big net worth drop this month due to the market. Not terribly concerned (wake me once we get back to pre-election levels), but I am keeping money coming in a bit more liquid for now, in part because I know we’ll be front-loading retirement plan investments in the beginning of the year anyway, so might as well stock up a little cash-wise while we can.

Husband bought some more work clothes, but otherwise joint expenses are what we expected for the month (including the delayed $$$ therapy bill dropped on us in November). Individual spending was just under target, almost compensating for the overage last month.

Personal life-wise, I’ve just been working a lot. But I’m hitting flow (I think) so that’s maybe good? I am trying to push hard and build all the systems I need to put in place so things will be easier to handle before pregnancy, babies, etc.

Notable things that happened in December include:

  • Nothing. 😦

How were your finances in December?

Financial Update – November 2018

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks joint net worth progress.
  • Spending Table – Compares monthly spending to an average (for us) budget, keeping us accountable for additional expenses. I will also include my personal discretionary budget as well; I will not include my spouse’s discretionary spending, which I do not see.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. Our current goal is to reach “Financial Freedom.” By the time we reach this goal we will have:

  • A retirement account that can support us when my husband hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my husband and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times our combined gross salaries without bonuses or equity.

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

november

Spending

We’ve created a joint budget which represents the average amount we can expect to spend each month. This is average amount we need to comfortably live in case of a job loss, emergency, etc. I expect to frequently mostly keep in line with our budget when amortized over the year, even though amounts may vary from month to month.

For privacy reasons, there are two things I do not include in our joint spending updates: our monthly mortgage and charitable donations (pegged at 10% of our net income).

joint nov 18.png

Here is my own personal discretionary spending for the month of November. I try to spend $600 or less each month for my “fun money” since that’s the allowance that’s apportioned to me and my husband.

ind spend nov 17

Monthly Summary

Some of these numbers are still in flux since we’re not quite done combining everything. But we’re getting close. I can feel it.

October and November I really took a good at our joint finances (in part because we started putting an estate plan together) and boy howdy we spend a lot for the two of us. Yikes. Like, I knew this, but I didn’t really internalize it until I went through my husband’s auto insurance statements. Auto premiums in this city are bonkers.

The other big annoying thing for us is health care. Apparently, contrary to what I thought, my husband’s open enrollment period is exactly six months from my company’s open enrollment period. But we want him on our insurance long-term because of his recurring specialist sessions, which are covered on my insurance but not his. I’m super afraid that him being on two insurance is going to lead to a coordination of benefits nightmare in the meantime where we pay out the nose covering both deductibles before getting anything covered. Had we known his insurance would leave such a gap for his specialist sessions before or right after we had gotten married, we could have switched him over then. But we didn’t find out until two months after our nupitals. So. Whatever.

Have I ever mentioned how much I hate health insurance in the US? It’s a really dumb and unintuitive system.

In any case, that means we’re going to be paying on the order of $500/month just for his medical care for six months, then that should go down to $300/month for him when his insurance switches over. Assuming all goes well, which, who knows! Medical billing is an endless nightmare!

Edit: adding my husband to my insurance maybcount as a qualifying event? Which is good is true, because then we won’t have to have him double-covered. Stay tuned as I continue to be flabbergasted by the rigamaroles of insurance. Wheeee.

Anyway, here are the minor steps we have taken / will take to hopefully chip away at these recurring numbers in the long term:

  1. Switch husband to my insurance (saving $200/month)
  2. Find cheaper auto insurance (unknown savings)
  3. Trade in my Google Fi for Mint Mobile (saving ~$40/month)
  4. Cancel Amazon Prime which I mostly used to watch Tokyo Girl (saving ~$13/month)
  5. Set up system to enforce submitting work reimbursements (~75/month, though won’t reduce line item in monthly reporting)

Things that will probably increase our spending:

  1. Putting an estate plan into place
  2. Getting life, disability, and umbrella insurance

We’re also not going to do any more clothes shopping on the joint account (husband really needed more basics for work so we got him a couple things at Uniqlo, but going forward we’ll both be using our discretionary account for those items).

As for my personal spending this month: food. What else is new?

Notable things that happened in October and November include:

  • Got married!
  • Surprise $10k raise at work
  • Went to my first cooking class with Little Sis

How were your finances in November?

Financial Update – September 2018

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks net worth progress.
  • Spending Table – Compares monthly spending to an average (for me) “bare bones” budget, keeping me accountable for additional expenses.

For now, monthly updates include only my personal net worth and spending. As my fiancé and I combine our finances, updates will shift to cover going values instead.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. My current goal is to reach “Financial Freedom.” By the time I reach this goal I will have:

  • A retirement account that can support us when my fiancé hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my fiancé and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times my gross salary without bonuses

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

sept 2018

Spending

I’ve created a “bare bones” budget which represents the average minimum amount I can expect to spend each month. This is the minimum amount I need to comfortably live in case of a job loss, emergency, etc. I expect to frequently go over my “bare bones” budget in a number of categories (here’s looking at you, “Groceries & Dining”), but I want to remain accountable to myself when I do so.

For privacy reasons, there are two things I do not include in my spending updates: my monthly mortgage and charitable donations (pegged at 10% of my net income).

sept 18

Monthly Summary

Just so ready for this year to be over.

Notable things that happened this month include:

How were your finances in September?

Financial Update – August 2018

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks net worth progress.
  • Spending Table – Compares monthly spending to an average (for me) “bare bones” budget, keeping me accountable for additional expenses.

For now, monthly updates include only my personal net worth and spending. As my fiancé and I combine our finances, updates will shift to cover going values instead.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. My current goal is to reach “Financial Freedom.” By the time I reach this goal I will have:

  • A retirement account that can support us when my fiancé hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my fiancé and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times my gross salary without bonuses

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

august 18 net worth.png

Spending

I’ve created a “bare bones” budget which represents the average minimum amount I can expect to spend each month. This is the minimum amount I need to comfortably live in case of a job loss, emergency, etc. I expect to frequently go over my “bare bones” budget in a number of categories (here’s looking at you, “Groceries & Dining”), but I want to remain accountable to myself when I do so.

For privacy reasons, there are two things I do not include in my spending updates: my monthly mortgage and charitable donations (pegged at 10% of my net income).

aug 2018 spend.png

Monthly Summary

I have been overwhelmed with stress lately. Between work, the wedding, a close friend in the hospital, I am barely getting by. Hopefully by mid-October things will have settled down.

I shelled out a lot on food this month, but that’s nothing new. Otherwise, I think I did decently. On investments, it looks like the stock market has been gangbusters. Honestly, that worries me a lot. Not really sure what to do though except keep plowing in.

Notable things that happened this month include:

  • Showing up when it mattered for a friend in need

How were your finances in August?

Financial Update – July 2018

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks net worth progress.
  • Spending Table – Compares monthly spending to an average (for me) “bare bones” budget, keeping me accountable for additional expenses.

For now, monthly updates include only my personal net worth and spending. As my fiancé and I combine our finances, updates will shift to cover going values instead.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. My current goal is to reach “Financial Freedom.” By the time I reach this goal I will have:

  • A retirement account that can support us when my fiancé hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my fiancé and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times my gross salary without bonuses

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

July 2018.png

Spending

I’ve created a “bare bones” budget which represents the average minimum amount I can expect to spend each month. This is the minimum amount I need to comfortably live in case of a job loss, emergency, etc. I expect to frequently go over my “bare bones” budget in a number of categories (here’s looking at you, “Groceries & Dining”), but I want to remain accountable to myself when I do so.

For privacy reasons, there are two things I do not include in my spending updates: my monthly mortgage and charitable donations (pegged at 10% of my net income).

July 2018 spend.png

Monthly Summary

I had a whole thing here and then WordPress ate my entire post. Grumble grumble.

Anyway, this month I did okay in spending. The biggest overages were hotel reservations for our honeymoon and ordering various group deliveries for our hosted game nights and the like.

I’ve been in the progress of doing a lot of little financial moves to get our money in order before we get married. I’ve had to call so many customer service lines and I hate it every time. Bleh. Hopefully I’ll get most of the rest done in August so I don’t have to deal with it between our trip and the wedding.

In the non-financial department, life is kind of weird right now. I’m still kind of struggling at work and have yet to develop any sort of proto-friendships there. Meanwhile, there are some things going on in the background with regard to our friends and family that are out of our control but still kind of concerning. And, you know, the world is crumbling apart and our country is still actively abusing migrant children. I feel pretty saturated with despair and worry and sometimes hope. Very, very exhausted.

Notable things that happened this month include:

  • First month at the new job
  • Picked berries for the first time and learned how to make fresh raviolis with friends
  • Went to the Cape for a quick summer vacation

How were your finances in July?

Financial Update – June 2018

Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates consist of two parts:

  • Financial Progress Table – Tracks net worth progress.
  • Spending Table – Compares monthly spending to an average (for me) “bare bones” budget, keeping me accountable for additional expenses.

For now, monthly updates include only my personal net worth and spending. As my fiancé and I combine our finances, updates will shift to cover going values instead.

Financial Progress

Each net worth goal in the Financial Progress table is broken down into undisclosed units of money. My current goal is to reach “Financial Freedom.” By the time I reach this goal I will have:

  • A retirement account that can support us when my fiancé hits 65
  • Two college savings funds funded for four years of in-state public university tuition, room, and board
  • An emergency fund for six or more months of living expenses
  • Sufficient liquidity for my fiancé and/or I to make a career change with one to two years’ runway
  • A mortgage less than two times my gross salary without bonuses

Once “Financial Freedom” is achieved, the focus will then working be towards “Financial Equilibrium”, where the income from investments covers all our ongoing expenses.

June 2018

Spending

I’ve created a “bare bones” budget which represents the average minimum amount I can expect to spend each month. This is the minimum amount I need to comfortably live in case of a job loss, emergency, etc. I expect to frequently go over my “bare bones” budget in a number of categories (here’s looking at you, “Groceries & Dining”), but I want to remain accountable to myself when I do so.

For privacy reasons, there are two things I do not include in my spending updates: my monthly mortgage and charitable donations (pegged at 10% of my net income).

June 18 spend.png

Monthly Summary

I spent a lot of money and my net worth went down due to lack of income. Oh well. No big deal. There are things I’m way more anxious about than money right now.

Summer is finally here which means it’s time for travel! I visited my brother in Chicago for his graduation and I got really lazy about taking public transportation so I spent approximately $200 just on taxis alone.

I also booked our flights to Dublin for our honeymoon this fall, so that took up another $600 or so after using up our Amex points. I’m kind of annoyed by the personalized pricing mechanisms that make ticket prices escalate between searches for the same itineraries. I usually can just clear my cookies or use a VPN to see base level prices but it is a hassle.

Credit card related pro tip, though: If you want to liquidate your Amex points for 1 cent/point, just book some travel and ask for a refund within 24 hours. The refund comes back in the form of cash instead of points.

Other overages came in the form of food (obviously), thrice annual water bill, and a new scanner so I could use some of my free time to finally digitize all the papers I’d been storing for years. I also had to shell out $100 to pay for my SDIRA that houses my Lending Club account. Just one more way that my P2P investing experiment has been super disappointing.

Notable things that happened this month include:

How were your finances in June?