Budget Analysis – October 2020

October Budget


We are in the final stretch of 2020. November is more than halfway done, and I am finally getting around posting the budget analysis for October. Let’s jump right into the details and see how I did last month. 

As always, the most significant source of my income is my full-time jobs and the contract jobs I do on the side. I am also very excited to say for the first time in my life; I have maxed out my 401K contributions. 

Full-Time & Side Jobs $9,550
401K / HSA Contributions $482
Rental Income $1,776
Other Income $879
Total $12,205


I am still living with my family, so my expenses are still pretty low. Once I move out, the costs are likely to be much higher. I went out of town for a little over a week, which made my restaurant expenses much higher than usual. 
I also had to make an unexpected visit to the dentist, which cost me some pretty penny. I am still not done with the treatment and not looking forward to the dentist’s bills. 

Housing $1,409
Utilities $0
Food/Supplies $502
Personal Grooming/Medical $701
Transportation $329
Miscellaneous $311
Travel $617
Total $3,869


My goal is a savings rate of 70 % every month, which is usually hard to hit. I don’t factor into all income taxes, which makes this saving rate somewhat less meaningful. Anyway, it feels nice to have a specific target number. 

To calculate the savings rate, I take all my expenses to divide that by take-home income + 401k & HSA Investment. 

Total Income $12,205
Total Expenses $3,869
Savings $8,336
Savings Rate 68.30%

I didn’t meet my goal of 70%, but 68.30% is pretty dang good, considering that I traveled a bunch and had some medical expenses. I am delighted with October’s savings rate. 

Happy budgeting and keep track of every dollar!

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Networth Update # 9 – Mar 2021

It’s a new month and it’s a time for another net worth Update.  Net Worth Update Summary Assets Current Month($) Prev. MONTH($) Change(%) Investments $247,917 $222,216 11.57% Cash $70,422 $70,183 +0.34% Home Equity $100,000 $84,400 +18.48% Total $418,339 $376,799 +11.02% Investment Details Assets Current Month($) Prev. MONTH($) Change(%) 401K $110,372 $102,409 +7.78% Roth IRA $81,179


2020 – Networth Tracker

2020 – Net worth Progress Month Amount ($) Jan-2020 $262,849 Feb-2020 $236,134 Mar-2020 $232,670 Apr-2020 $220,293 May-2020 $248,763 Jun-2020 $264,808 Jul-2020 $271,677 Aug-2020 $291,506 Sep-2020 $327,604 Oct-2020 $317,473 Nov-2020 $320,673 Dec-20 $353,046 Net Worth Trend There were lots of ups downs, but overall pretty smooth sailing. Networth increase of 34% for the year.


Year End Summary – 2020

In this post, I am going to summarize my income and expenses for 2020 quickly.  2020 was a roller coaster for me because of the pandemic and all the happenings around my personal life. Let’s jump right into the numbers to see how I did financially!  Income Source Actual($) Full-Time & Side Jobs $101,895 401K

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