August Ups and Downs

August has been interesting.   For someone who spent only 6 nights in her home in the entire month, you would think I could have saved more on household expenses.  While I saved big bucks between travelling to DC and working (I never buy food on the road), other things were a bit out of my control…

  1. The car – my poor car.  I wrote about Muffy taking a dive.  That was brutal.  $460 and she is good a new…for now.
  2. Payback from last months colossal mistake in budgeting.  I had to re-fund my travel fund as Thailand is only weeks away!  $500 and $300 to go…

These extra expenses dropped my monthly savings rate to 65.7% (or 72.06% including 401K).  Ok – I realize that’s not bad at all…but it is a drop nonetheless.  I was expecting BIG things out of Augusts paycheck with my July hours being the highest of the year thus far…but unfortunately things don’t always work out that way.  Out of the 8 months of 2016, August was ranked 3rd highest in income.  Yeah!!  At the same time – it was ranked 6th lowest in savings percentage.  Boo.

Image result for broken bank

But It’s not all bad news…  Regardless of the relatively poor savings numbers – I am still at an average savings rate of 76.29% (80.98% with 401K) for the year.  75% is right on track for my FIRE date of 6ish years from now.  Perhaps that realization is worth celebrating despite my perceived downfall of the month?  You betcha…

Today I am celebrating a successful year thus far.  I have maintained a 75% savings rate.  I have worked 100+ hours each month.  I have spent less (on average) than my allotted monthly expense budget of $1500 ($1489.47 to be exact).  I’m on track to max out my 401K, Roth, and HSA.  Things are looking good!

It is times like this I have to remind myself to relax.  Be kind to myself.  Remember that time is so important to the financial independence equation.  Without time my money can’t grow in the way that it should.

You can’t press fast forward on compound interest.

Here’s is the total of where things stand now…

Screenshot 2016-09-02 at 4.38.00 AM - Edited

A nice increase from my last tally in June...I even broke the Quarter Millionaire mark when adding my condos value of 65K (it’s paid off and that is a low assessment. 🙂 ).

NO more looking back.  Today I am putting my big girl panties on and looking to the future – September.  I already know it will be a good month.  First off, it’s my birthday month (no gifts necessary 😉 )  Secondly, I leave for Thailand at the end of the month – time to check another country off my list!  And last, September means the beginning of fall.  The weather cools, the leaves start to fall, and my cozy fall uniform of jeans and a t-shirt become a relevant option again.  September can’t come quick enough for me…

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Until next time…

 

 

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7 thoughts on “August Ups and Downs

    1. Thanks! Up until this year I never calculated my rate before. It’s nice to see the numbers crunched and I am pleasantly surprised by the outcome. I haven’t gone so far as to tally my dividends yet. I see you are on that track and perhaps it is something I should be considering…I feel an addition to my spreadsheet coming on… 🙂 Thanks for reading!!

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    1. Thanks for the birthday wishes and thanks for stopping by, Tristan! I have always been a great saver but now I need to push to be a better earner. There is only so much I can do with my job so I am trying out a few side hustle ideas…nothing has stuck yet but I am hopeful. 🙂

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      1. You’re welcome 🙂

        And you’re right, there’s only so much you can do to save, it’s earnings that count the most after that. Keep trying witg the side hustle, eventually you’ll find one that works for you.

        Tristan

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  1. Great job on the savings rate. But why so much in savings? Or is this getting a good rate? If it is not I would put it to work! I think I don’t carry enough sometimes for an emergency fund, but do keep a month ahead on my mortgage just in case. Awesome site and great writing!
    The Dreamers

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    1. Hey Dreamers – thanks for dropping by and good eye! 🙂

      My credit union offers a 4% APY up to 25k and you can have two accounts. So basically 4% up to 50k. I figure I’ll stockpile slash there until they change the rate… It’s safe and accessible should I want to put a down payment on another income property. Which I do want to. Always! There should be a support group for people like me.

      When my financial rock bottom a few years back I had a hard time rebuilding my savings. Not that I couldn’t save, but I couldn’t get past how much I had lost. What helped me was setting mini goals. Aim for 1k, then 5k, then 10k. If I was close to the number I would squeeze my budget just to hit that even number. It helped make the big goals more attainable. My goal now is to fully fund those two accounts as well as all of my retirement accounts. Time for me to get a side hustle!!

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