Monthly Expense Report, February 2016

Quite a bit different for this monthly expense report compared to the last, but two good months in a row. Let’s dig into the numbers first and then follow up with a brief discussion. Just like last month this is only my spending and no one else in the household. Current target is under $1800 per month.

Monthly Expense Report
Category Costs Comments, etc.
Housing $900 My half of our monthly payment.
Student loans $300  Last payment of this size as my rate is variable and set to adjust in March. I think the rate will go up a little bit but my payment should be about $100.
Debt $135 Still paying down a 0% home improvement loan
Food $80 Fairly low this month. I think I was low on contributing to household grocery purchases. Primarily lunches and one take home burrito dinner.
Auto $75 Insurance + cheap tank o’ gas! Love it!
Internet $70 Higher than I like, but we need reliable service when working from home!
Mobile $50 Prepaid from Verizon, probably a few years left on my current phone until I think of switching.
Entertainment $15 I was gifted tickets to a hockey game and needed to use public transit and parking to get there! Worth it!
Medical $5 Prescription
Total $1630 About as low as I think this number will go until my debts are paid off. Happy with this number!

I think February looks fantastic for a monthly expense report. This is more or less the bare minimum I look to spend in any month until my debts are paid off. I expect the Student loans to be finished and paid off before 2017 arrives. The home improvement loan will be finished in the fall of 2017. And then I will have hundreds of dollars ready for investment!

Gas is so cheap! I believe I am paying a little over $2 right now and February happened to line up so that I only paid for one tank full. March should be back to two tanks, but even so the Auto category should stay under $100. Very happy with that!

I was also lucky this month to finally get to attend my first ever NHL game! My brother got me tickets for Christmas, but sadly he couldn’t attend. I parked my car and took public transit into the city so this was a nice cheap month for entertainment. Side note: Professional hockey is sooooooo much faster in real life than any sport I’ve ever seen. Their talent is amazing!

I pulled this monthly expense report data easily from the You Need A Budget software, which has really helped me turn my finances around. I am currently using what is now the old version, YNAB4, but have tried the new YNAB as well. Sticking with YNAB4 until it breaks unless they improve the new version. If you can snag YNAB4 on sale I would absolutely recommend it. Find out more about YNAB and a few other tools I use on my Resources page. (No this is not an advertisement, just my honest love for what YNAB has done for me!)

And finally…

Net Worth Update

Again, let’s get the numbers into the discussion (or in this case the picture) before diving in. Same as last month showing my progress, but no real numbers as I am not ready to share full details quite yet. This plot is a bit different since I generated from Google Sheets instead of Excel. Still not content with this representation of the numbers, but I will figure it out.

networth_feb2016
The orange line is my goal set Jan 1st. The green shaded area is my actual net worth.

I continued the front loading efforts of my 401k, so much so that I am drawing from savings to cover this month’s expenses. However, for March I expect to approach even with a reduced student loan payment. Starting in April I will reduce 401k contribution back to slightly above my company’s match for the rest of the year.

Markets were nearly flat in February, so unlike January my efforts are more visible this update. I am up about 8% month over month and up a whopping 19% for the YTD! It’s great having just barely crossed into positive net worth as small changes equal big percentages! :p

And this concludes February’s monthly expense report and net worth update.

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