Sorry to be so detailed, but I thought I'd discuss things in more detail today since I clearly need to figure out what's gone wrong. More on that later.
January Income ($4471.16)
$75 Credit Card Reward
$29.64 Barnes and Noble discount
$6.23 Savings Interest
$5.00 Buzzback survey reward
$2.20 Bottle Deposit Returns
$1.20 Roth Cash Reserve Interest
$0.33 Checking Interest
$0.25 Dividend Income
January Expenses ($4623.53)
$438.53 Federal Taxes
$434.17 Dining (Subgroup: Coffee $27.86)
$400 Dental Expenses
$254.51 Social Security
$115.99 Auto Gas
$107.36 Med. Ins.
$63.71 Auto Maintenance
$39.23 Sales Tax
$30.58 Electric Bill
$25.31 Linux Group Donations
$25.09 Student Loan Interest
$24.55 Household Gas
$24.41 Credit Card Interest
$18.77 Medical Expenses
$7.84 Dental Ins.
$4.00 Web hosting
Net Loss: $152.37
Net Worth (including retirement, excluding car): $6943.39
401k value: $16,021.43
Roth value: $3908.3843
So lets talk about a few things:
1. Deficit spending. I'm not terribly troubled by that. I'm traveling this month, and I have an expense report for $1048.39. So accounting for that it should be something on the order of a Net Profit of 800 dollars. That said, if I only spent 3600 (including federal taxes, rent, etc) that's still a lot. It would seem dining out, computers and books are my downfall. I need to eat in more (but that's hard when traveling).
2. Strategy. The $20 a day thing is a terrible plan for me. I hold up important things for too long because I don't want to be in the red. I need to return to my old fashioned budget.
3. Credit Card Interest. I was playing the margins a bit too much with the holidays and I got whacked. My credit card statement came due 2 days sooner than I expected, so I got clocked. I've shifted to the other card for the time being, so unfortunately all the work travel isn't counting towards my retirement account
symptom of overspending I guess. That and I was in too much of a hurry to meet the Roth max out. Lesson learned, and all in all $24.21 isn't the worst thing in the world. I've gotten $225 out of them in rewards. So I'm winning so far.
4. Taxes. I did my taxes last night, and it looks like I'm getting $48.00 dollars back from the feds, and $142.00 back from the state of Michigan. I haven't decided if it's going to be a political contribution to my favorite prez candidate, a donation to my Linux Users Group or just savings.
5. Boyfriend visit. I'm visiting Boyfriend in about a week and a half. I'm very excited. He wants to pay for the hotel, and given that I'm a bit strapped right now I'm alright with that, but I feel guilty.
6. Dentist. I have another tooth to take care of, but since I'm out of town I'm not sure that's going to happen quickly. I just hope it isn't so costly.
I'd try to post a budget, but it's hard to estimate what I'm spending for work. I may need to create a whole new set of expense accounts for work. Hmmmm. I'm trying to stick to making 416-417 dollar contributions once a month to my Roth, but I'm not sure if that'll last.
Guesses for next month
Net Profit $1,500.00