Expenses · Finance

July 2015 Financials

Financial independence is really important to me and it’s my main financial goal.  Part of that includes tracking my expenses and investments to make sure I’m on track in meeting that goal. To retire by the time I’m 50 (11 years from now), I’m aiming to save 70-75% of my take home pay to ensure a large enough cushion to live comfortably in retirement.  To maintain some privacy, I’m going to list these in percentages, rather than dollar amounts.

Fixed Expenses: These costs include my association fees, phone, internet, gas, electricity, water, etc. For July, fixed expenses equated to 7% of my take home pay.

Variable Expenses:  Somewhat easier to control month to month, this includes gasoline, groceries, home supplies, clothing, restaurants, entertainment, etc.  For July, these made up 17% of my take home pay.

Investments: This includes any money transferred to savings accounts, Roth IRA, brokerage accounts, and my 401k.  This makes up the remaining 76% of my take home pay. My employer has a 401k match, which I’ve excluded from this percentage.

It helped that July was a 3 paycheck month, allowing me to save a decent amount while also covering some substantial variable costs.

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