Expenses · Finance

January 2016 Financials

Financial independence is really important to me and it’s currently my main financial goal. With that in mind, I aim to spend $1500 or less each month so I’m able to invest the remainder. Here’s how my January turned out.

In total, I spent $1,793 for the entire month.

I spent $417 on fixed costs (e.g. association fee, utilities, insurance, etc.), which is a fairly average month for me.  No surprises there.

I spent $1,376 on variable costs (e.g. food, gas, house supplies, gifts/donations, etc.). This was way more than I was expecting due to a few abnormal/annual expenses: AAA membership renewal, a donation, splitting the cost of an annual Netflix membership with a friend, and some unexpected vet bills. I’ll write more about the vet bills in a later post, since this will have an impact on my finances going forward.

If it hadn’t been for these additional expenses, my monthly spending would have been less than $1,000 total.

I’m already aware of some additional costs for February so my budget has been adjusted to accommodate these.

As far as my progress towards financial independence, I’m 37% of the way there as of the end of January.

How did your month go? Any challenges?