Budget Analysis – Jan 2021

budget analysis

Hello, 2021! After freeloading for almost six months, I finally moved and got a place with a friend. Let’s see how I did in the first month of the new year. 


Income

SourceActual($)
Full-Time & Side Jobs $7,061
401K / HSA Contributions $4,307
Rental Income $1,699
Other Income $1,203
Total $14,270

Expenses

I have a couple of new expenses starting this month. Mainly apartment rent and utilities. Other than that rest should be as usual with few unexpected expenses like dentist visits and car insurance. 

CategoryExpenses($)
Housing $2,470
Utilities $0
Food/Supplies $501
Personal Care / Clothing $0
Medical $872
Transportation $885
Training/Books $47
Travel $227
Miscellaneous $652
Total $5,654

Savings

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. 

Actual($)
Total Income $14,270
Total Expenses $5,654
Savings $8,616
Savings Rate 60.38%


Happy budgeting and keep track of every dollar!

Share it with your friends!

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on reddit
Reddit

More Posts

technology

Networth Update # 10 – Apr 2021

Another month, time for another update. With the way the stock markets are going up, I love doing the net worth updates. Net Worth Update Summary Assets Current Month($) Prev. MONTH($) Change(%) Investments $263,819 $247,917 6.41% Cash $68,459 $70,422 -2.79% Home Equity $110,000 $100,000 +10.00% Total $442,278 $418,339 +13.63% Investment Details Assets Current Month($) Prev.

net worth update

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

boat

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.

https://unsplash.com/photos/S5fDuxsMJzk

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

Say Hello!

Leave a Comment

LET's BE FRIENDS

It’s easy: all I need is your email & your eternal love. But I’ll settle for your email.