I love reading and seeing different ways people track and measure their financial health. Expenses, savings rate, income, spreadsheets, data – I love it all! I will be doing a similar post to this monthly, where I detail my monthly expenses, income, savings rate, etc. The format might not be perfect yet, but don’t worry, we’ll get there. In advance of me sharing any numbers, as you read please note if there’s anything you feel I’m missing. I’d love to include more and more data each month.
The point of this is for me to share my experience. I can’t think of a way more intimate of publicizing and tracking my journey than putting all my information online for people to follow along if it intrigues them. On a similar vein, I love the idea of self accountability. I’m the type of person where if I tell someone I’m going to do something, I’m infinitely more likely to actually do it rather than if I just thought it to myself. This is why I posted a list of my 2019 goals. These monthly posts will basically be monthly checkups to keep me on track so that I don’t stray from my long term goals.
And lastly before I start, I’d like to say that I don’t stick to a budget. They are. I have savings goals and so long as I am on track to hit these, I can spend on whatever I please. This method seems to work fine for me as I’m not a huge spender in many areas (barring cycling/triathlon related items, of course).
January 2019 Spending
For a grand total of $2,335. This is about 27% higher than my average since I moved out of my parents house (meaning average of October to December). I tracked my spending prior to this, but the numbers are naturally going to be lower because I wasn’t paying rent. Utilities are double average because we had an issue transferring account to my name and ended up paying 2 months at once. And for travel, that was a weekend at a hotel on a mini training camp over MLK weekend with my cycling team. We all took Friday off work, drove a few hours south where it wasn’t raining, and basically the 40 of us spent Friday through Monday riding quality miles on the bike with great company. About 250 miles over the 4 days. Also in January, my girlfriend and I spent a bunch of credit card points. For the first time we redeemed points to book flights for a couple of vacations. We will be able to go to Hawaii for nearly a week for 25,000 British Airways point each. And our big international trip is going to be AMAZING. We snagged tickets for 32,000 Chase points each flying into Zurich and out of Madrid. We’ll also be stopping in Lisbon en route. I haven’t been to any of these 3 countries and my girlfriend has only been to Spain. We can’t wait and we are really excited with the redemptions we got. We are still learning about travel rewards but are slowly accumulating knowledge and points that we plan to use to travel the world. Expect a post on our travels, just don’t get too excited as our big trip isn’t until November.
Other financial KPIs for January:
Investment Contributions: $6,817 (maxing Roth IRA + 401k contributions)
Take Home Income: $5,317 (higher than normal because received a bonus and issues with company 401k)
Total Cashflow: -$3,099 (very negative because of annual IRA contribution)
Savings Rate: 61% (off to a good start for the year as my goal is 50%)
Thoughts: Bummed with my company 401k. They haven’t been very vocal about the issue, but basically our company merged with another and there is some sort of issue getting us up and running on the new combined company Fidelity plan. I planned to contribute big to my 401k early in the year to max it out quickly but will be a delay. Hopefully the payroll deductions start within the next couple of paychecks. Apart from this, I’m glad I was able to max my Roth IRA immediately. For the last 2 years, my girlfriend and I have both transferred the full amount on January 1st while we made breakfast together. That’s a tradition I hope continues for years to come!
Fitness KPIs for January:
Total Miles Biked: 703 (not as much as I’d like but surprise food poisoning and more than usual rain are out of my control!)
Total Miles Run: 20 (runs with my girlfriend who will be running her first half marathon this year!)
Total Yards Swam: 0 (not swimming right now as I’m focusing on some bike races)
Total Hours of Exercise: 44
Bike Miles on Bike Commute Days: 215
Days Biked to Work: 12
Best Bike Commute Streak: 15 (no driving to work 12/6->1/10, ended because I needed to driving to a new location a couple times and I wasn’t sure if there were bike racks/showers)
Number of Races: 0 (race season starts in February!)
Thoughts: Would have liked to bike more but I’m happy with where I’m at. I was able to bike over 1,400 miles in December which was a huge training block. I did my best ever 20 minute bike effort (326 watts, which broke my previous best of 324 watts from nearly 18 months prior). I quickly got sick and then got food poisoning only a few days after this, which sucked! It was my first time with food poisoning and WOW was that an experience. Luckily it didn’t last long so I didn’t lose any bike fitness as a result.
Thanks for reading, and I hope you enjoyed! Please let me know how you liked the format and if you’d like to see anything else added in for future monthly wrap-ups!