Eurgh, this update was super delayed! It’s now midway through Q3! I have several job interviews lined up and I am super excited about some of my prospects! That will definitely affect how my financial goals end up falling for the year, so I will definitely be reconsidering my goals for the year (such as the mortgage payoff plan!) once I have a more firm idea of what my income will look like. I’m especially not excited about paying for COBRA. I found out how much it was and, ahem, let me say that I am only paying 5% of the actual cost of my health insurance plan. Wow.
I saw one bonus in the second quarter and my regular income chugged along. I didn’t see a raise on my regular salary. I also saw expected amounts of interest (~$100), credit card rewards (~$55), and dividends on my index fund investments (~$950!). Maybe another quarter soon, I will surpass $1,000 in dividends across my portfolio! That would be pretty cool. I think it might happen in Q4 this year.
In Q2, I saved 79% of my total net pay.
I’ve contributed about 55% of the yearly 401(k) contribution as of the end of Q2. It will be fully funded by mid Q3. I’m contemplating fully funding it early in the year in the future to help me be a bit less stressed out if I am unhappy in my job.
I made $22,749.03 in extra mortgage payments in Q2, which is about 8% of the original mortgage balance, double last quarter’s payments.
I also set aside $1,300.00 in cash.
I made a small number of donations in Q2 compared to Q1, but I’m close to having positive budget space in this category, which is nice. I’ve been really happy with my increase here this year and will consider increasing it higher next year.
I was only $300 over budget this quarter (or $100 per month), compared to $1,700 last quarter! Total spending came in at $10,061.91 and I’m on track to spend about $44,781.15 total this year, which would be a decrease of $27 from last year (2013).
- $586.64 Clothing – this was clearly way over budget. I’ve spent $1,286.64 on clothing so far this year. Hopefully this goes down a bit in H2…
- $525.18 Entertainment – slightly under budget. $1,261.70 total so far this year.
- $965.53 Food – pretty much right on budget.
- Charitable donations – I’ve overspent by about 2 months’ of budget. This should reconcile itself soon.
- $6,141.33 Housing – this includes my mortgage payments, internet and electricity bills, HOA dues, household goods (e.g. toilet paper, paper towels, and cleaning supplies), mortgage loan fees, and property taxes. I was about $500 overbudget thanks to increasing my internet speed, budgeting for average monthly electricity bills rather than winter electricity bills, and property taxes going up.
- Medical bills – nothing surprising here. Just paid my normal premiums for dental, medical, and vision insurance. I’m over budget a very small amount since I hadn’t budgeted for the premiums going up, but they didn’t go up very much $ wise.
- $269.29 Personal care – this includes eyebrows, hair cuts, make-up, and toiletries. This was overbudget a very small amount.
- $424.44 Recreation – after spending nothing in Q1, I spent a fair bit in Q2. Still under budget for the year though.
- $311.95 Shopping – bought a new router with my boyfriend and then some other general furnishings.
- $35 Transportation – just fuel. Q3 will see insurance and vehicle tab renewal, which will be much more expensive.
- $365.08 Travel – I’m surprised I spent this little on travel in Q2! That puts the year at $2,258.65 so far.
Here’s what my travel expectations look like for the rest of the year:
- (July) Weekend getaway with my boyfriend – $430 total
- A friend’s wedding – $710 flight, $70 lodging, $100 transportation, $100 food -> $980 my portion
- A friend’s bachelorette party – $325 flights, $400 lodging (my portion), $300 food and incidentals -> $1,025
I spent $2,258.65 on travel in H1 and anticipate spending $2,435 in H2 for a total of $4,693.65, which is about $500 over my original budget. Next year’s travel budget is in the works and it is starting to look like it’ll be around $6,000: two weddings, Christmas, and a two-ish week trip to Europe. I’ve debated postponing the bigger trip, but that seems a little silly to do simply for financial reasons.
Readers, how was your Q2?