Income and Expenses – October 2016

Tracking your expenses isn’t a new idea, but it is a great one. I think the best way to keep myself accountable is to write everything down for all to see. I recommend everyone actually write out your outcomes from each month as it seems to have more impact than just looking at your Mint budget. Let’s call this my “Weight Watchers for Money”.

My goal is to be to keep my savings rate at or above 70%. Let’s see how I did this month. I’m so close to crossing the $150k mark!

November Income/Expenses:

 Income
Paycheck $5,080
401k $1,500
HSA $238
 Misc Income $109
 Total Income $6,927


Income Notes: N/A

 Expenses
Rent $700
Food & Dining $501
Bills & Utilities $131
Auto & Transport $168
Misc $394
 Vacation $500
Total Expenses $2,394

Expense Notes:

*Vacation – Yes, yes, I know it looks like I take a lot of vacations recently.

 Monthly Report
Savings Rate 65.4%
Net Worth $140,062.63

Monthly Report Notes:

This spending is getting a little out of control. Missed my mark by about 5%. What did I get out of it though?

Just like a few months ago I spent a little more eating out and going on vacation than I usually do. Using travel hacking I was able to go to Paris with a +1 for a few days without killing the budget too bad.

Net Worth Chart

NW 10/16

Final Word

I didn’t get where I wanted, but I did something more important. Sometimes I get caught up in how much money I’m saving and not spent enough time enjoying my time now. Spending time with loved ones is one of the biggest reasons I’m chasing FI, so why wait to do it?

Is your savings rate increasing, decreasing, on track? Let me know.

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