Where did January go? It’s hard to believe that tomorrow will be February already.
I started the month by celebrating New Year’s day with brunch at a friend’s house and ended the month with a brunch to celebrate another friend’s engagement. We sure do love brunch 🙂 The rest of the month was fairly mundane, filled with work and errands.
Since I don’t plan to spend any money today, I thought I’d get ahead and post my January expenses today, rather than waiting another week. Without further ado, here’s how January panned out.
*Just a reminder that I don’t use affiliate links (not that there’s anything wrong with that). I’ve only included the links in case you’re curious about the specific items I reference.
Financial independence is really important to me and it’s currently my main financial goal. I’m trying to keep my monthly spending to $1,667. This is very reasonable, coming in at $20,000/year.
I’m sharing my monthly expenses to illustrate that it’s not difficult to have a great life while spending far less than the household average. I’m fully aware that I’m able to do this because my mortgage is paid off and I don’t have a car loan or credit card debt. It was a long journey to get here and now I’m reaping the benefits.
Although I use Mint and Personal Capital to keep an eye on all my accounts, I use Excel to track my expenses. I’ve found that this works best for me, since I can easily compare months and see a running total for the year for each category.
If you have questions regarding how much I spend on groceries, my cell phone, etc., feel free to drop a note in the comments and I’ll happily provide those details. You can also check out my 2016 total spending by category here.
Here are my January expenses:
I spent $507 on fixed costs (e.g. association fee, utilities, insurance, etc.). No surprises here. It was exactly what I was expecting, as fixed costs tend to be. This spring I’ll be paying my property taxes and condo insurance, both for the entire year. Until then, my fixed costs are nothing out of the ordinary.
I spent $1,241 on variable costs (e.g. food, gas, house supplies, gifts/donations, etc.). There were a few large expenses this month: my cat’s annual check up at the vet ($152), car maintenance ($291), the purchase of a new printer and supplies ($105) – which was on sale at the time, and an air purifier ($113). I also stocked up on coffee ($55), which should last about 5 months and is purchased with a discount through Amazon’s Subscribe and Save program.
Best news this month? My cat, Moe, got a clean bill of health at his vet visit and only needs to go in for annual exams here on out, unless he’s showing symptoms of his glucose being off. This is a huge change from the many glucose checks he had during 2016 and we’re both looking forward to a much longer stretch of time between vet visits.
Total spending for the month was $1,748. which has slightly exceeded my goal of monthly spending of $1,667 or less. No surprise given all the extra expenses over $100 this month, but not bad with all things considered.
How did your January go? Any challenges?