As usual, it is time for another expense report. This time for January 2024. I think this is becoming pretty standard unless I have anything interesting to talk about.
Housing was 1352. It should go up next month as my new lease agreement takes effect.
My utilities for the month were $147. I expect this to be higher for the next few months.
My groceries were $344. I’m probably going to try and find a way to bring that down slightly.
My discretionary expenses were $154. I had one or two beers to many at the bar this month.
My goal fund currently has $0.
My other expenses were $442. This was the hosting cost of the website as well as the hosting cost of the podcast.
For those that are interested you can check out the podcast resources here. Find it on your favorite podcast app of choice. It has nothing to do with personal finance as it is a history podcast though. So consider yourself forewarned.
In total I spent $2438. Overall, $200 or so over my goal spending of $2200. I adjusted the goal from $2100 to account for increased rent and slightly higher discretionary budget. I think next month should go better.
My income for the month was $8809. The table below shows the sources of that income. Currently, I do not include investment income in that total.
I got the second half of my signing bonus this month for reaching one year of service. I expect this to be slightly higher as a portion of that signing bonus went to my 401(k) and posted just after I recorded values for this month. After that I expect it to level off again.
The graph below tracks my change in net worth since I started tracking it in January 2023.
Continuing up and to the right. Overall it is still looking fairly linear. My guess is that is because of the overall rather short period of time that I’ve been tracking it for.
This month, my savings rate was: 72%. Thanks to my signing bonus this helped keep me slightly above my goal of 66%.
My average savings rate Year to Date is: 72%.
No graph this month since I only have one date for my YTD savings rate. This graph will start up again next month.
Goals for next year
With all that in mind, let’s take a look at the goals for the next few years. Most of them are fairly ambitious is the only problem.
|Net worth = $200,000 by the end of November 2024.
|Well underway. I think I’ll hit this goal no problem.
|Net worth ~= $250,000 (CoastFIRE)
|We’ll see if I hit this goal this year. I’d like to but it feels ambitious.
|Reach Lean FIRE (NW = $750,000)
|Still several years out.
|Full FIRE (NW = $1,500,000)
|Still approximately 10 years out.
|Start Housing fund
|I haven’t figured this one out yet. I may just push my FIRE goal some?
|Finished. Maybe I’ll make a post out of it.
|Establish a moving fund
|I’ll probably take this from my bonus later this year.
That’s it for this month. Still plugging along. I think individual expenses will be slightly higher than usual next month but overall slightly lower. Overall I think it is a fairly solid start to the year.