In February, I:
- contributed ~45% of the pre-tax 401(k) limit.
- updated the value of my condo to reflect current comparable sales, which contributed to the vast majority of my net worth increase this month. It’s now up about 40% from my purchase price.
- sold some more stuff on Craiglist!
- transferred some funds from my work HSA to my credit union HSA and only afterwards figured out a way to possibly do it without any transfer fees.
- enjoyed the auto transfer from savings to checking.
- finally saw enough earned income to contribute to my Roth IRA for the year, but I’m still going to wait a bit longer to make sure I have enough cash on hand.
- saved 71% of my net income for a savings rate so far this year of 69%. March and April should also be in the 70% range and then I’ll drop down to the 60% range for the remainder of the year except when I pay tuition.
- saw my net worth go up by $61,000 or about 10.1% to $665,000.
Expenses: I spent $2,946 in February including the mortgage or $1,919 without it, with no charitable donations this month. That breaks down to:
- $1,676 in fixed/unavoidable expenses: cell phone, condo misc costs, HOA dues, mortgage payment, health, and transportation
- $1,270 in discretionary expenses: clothing, entertainment, financial fees, food, eyebrows, shopping
Some of my controllable expenses broke down as follows:
- $850 Clothing [$531 total so far this year; $829 at this point last year] – rightsized one of my jackets ($186 on sale), a long-sleeved running shirt ($75), a running vest ($150), a hoodie instead of stealing my boyfriends ($64), rightsizing my one pair of jeans that currently fits ($71), rightsizing my spring khakis from 2014 ($60) and shorts ($52), rightsizing my summer pyjama shorts from 2015 ($31) and my summer pyjama pants from 2013 ($36), and two summer dresses because I have zero that fit ($63)
- ($5) Entertainment/Social [average so far this year: $16, average last year: $116] – Refund of some cash I had withdrawn previously.
- $15 Financials: oops fee for transferring my HSA the non-free way (sigh)
- $63 Food [average so far this year: $50, average last year: $51] – this covers eating out by myself, work lunches, and schoolwork-related food. I’m rolling these all into one category since it’s under $100.
- $3 Housing miscellaneous – battery for the garage door opener
- $35 Cell phone – monthly Cricket bill
- $200 Health
- $20 Eyebrows
- $0 Toiletries [average so far this year: $17, average last year: $48]
- $328 Shopping – noise-canceling headphones (an amazing purchase I should have made years ago!)
- $88 Transportation: tolls replenishment (x2) and one tank of gas
I did another clothing inventory and bought some of the missing items this month. The remaining items on my clothing wants list are: a pair of sandals (I have none that fit) and a second pair of shorts and spring khakis if the ones I bought in February fit for more than a few months.
After accounting for March’s mortgage payment and HOA dues and the property taxes for the year, I have about $3,541 in available funds for discretionary spending. That also leaves about $2,646 in discretionary spending per month, which is pretty exciting! I’m curious to see whether I end up with money leftover at the end of the year or what the result is. This exercise also shows me how much of my spending is really discretionary and it’s kind of fun figuring out to how to allocate some of it.
Readers, how was your money in February?