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!
|Full-Time & Side Jobs||$101,895|
|401K / HSA Contributions||$27,249|
$140K+ in income. That’s a whole lot of money compared to what I was making just five years ago. However, I am off by a lot from my goal amount of 200k. One thing to note is most of this income is after-tax.
However, I will still need to pay $10K+ when filing taxes since I didn’t withhold any amount from 1099 jobs. Nonetheless, a good year for income.
|Personal Care / Clothing||$1,337|
My savings rate posted here is inflated compared to the actual savings rate because I am not factoring in any cash I had to pay as a part of the divorce settlement. Ignoring the fact I didn’t need to pay the settlement money, I had a savings rate of 66%. That’s very close to my savings goal of 70%.
Here are some of the financial goals for 2021 –
1. Savings Rate of 70%
2. Earn 200K after-tax including 401k and HSA Investment
Happy Budgeting and keep tracking!
** The table and font sizes in this post are all jacked up, and I have no idea what’s going on. I have spent too much trying to fix it, and now I don’t even care.**