February 2024 Expense Report

As usual, it is time for another expense report. This time for January 2024. As a heads up, this post will probably be longer than the rest.

Expenses

Housing1378
Utilities311
Groceries449
Discretionary133
Other0
Total2271

Housing

Housing was $1378.

Utilities

My utilities for the month were $311. A little high. I expect this to continue for one more month before tapering off. Although having internet will boost this slightly compared to last year.

Groceries

My groceries were $449.

This feels a little high, I’m going to try and bring it down a bit next month.

Discretionary

My discretionary expenses were 133.

My goal fund currently has $17.

Other

My other expenses were $0.

Total

In total I spent $2271.

A little higher than I would like. I’d like to bring it down to under $2200 if possible.

Next month I’ll be doing my taxes which may effect my expenses.

Income

My income for the month was $8046. The table below shows the sources of that income. Currently, I do not include investment income in that total.

SourceAmount ($)
Take-home4216
Retirement3830
Total8046

Part of this was the remainder of my signing bonus posting to my 401k. I expect my income to normalize over the next month or so.

Account balances

Account TypeAmount
Cash16000
Taxable90,700
Retirement87,400
Total194,100

The graph below tracks my change in net worth since I started tracking it in January 2023.

Continuing up and to the right. Nothing of not yet this year.

Savings Rate

This month, my savings rate was: 71%. Above my goal of 66%.

My average savings rate Year to Date is: 71.5%.

No graph this month since I don’t have enough meaningful datapoints.

Goals for next year

With all that in mind, let’s take a look at the goals for the next few years.

GoalNotes
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’all 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 fundI haven’t figured this one out yet. I may just push my FIRE goal some.
Establish GlidepathFinished.
Establish a moving fundI’ll probably take this from my bonus down the line.

Wrapping up

That’s it for this month. Still plugging along. I think individual expenses will be slightly lower starting with spring.

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