SlimIcy's Journal
SlimIcy's Journal
So I'm not usually one to share a lot about myself, but I've found recently that if I don't properly motivate myself I'm very good at procrastinating and cognitive dissonance. I've never been a counter or min/maxer, so I'm hoping putting these numbers down on "paper" will force me to walk the walk, and not just talk the talk. I also don't have any real concrete goals right now. I'm not really obsessed with FI that much, I'd more just like to get clear of my student loan debt, set myself up well for the future, and if possible get to a scenario where I can work a few days a week at a less stressful job -- maybe even one I enjoy.
About me:
30 year old male, currently work in Software Implementation. I don't hate my job (I actually enjoy the Implementation part of it) and I like the people I work with. It is a small company, so it's fairly stressful as there's no real infrastructure in place to keep up with our growing customer base. I'm actively job hunting, but not with any real sense of urgency.
I've been at this job for almost 3 years (a personal best). Before that I was a combination of under/unemployed for most of my post-college life. I managed to stay out of credit card debt, keep up with my student loan payments, and finish paying off my car, but I had zero savings, and actually my net worth didn't come into the positive numbers until just last year. I am frugal by nature, but wasn't very financially savvy. I read Jacob's book before finding the website, I think someone on Mark's Daily Apple linked to it, and I've slowly been making steps towards getting my savings rate higher.
Steps I've made since reading the book (September 2013):
1) Moved out of my tiny 1BR Apt in the city. It was $750/month + 40$ for internet and a little extra for laundry. I'm now renting a room from a friend in the suburbs for $425/month + utilities. The utilities are a little high in the winter, but this summer should be good for savings. Added benefits: roommates I know and trust, no lease or security deposit, someone to watch my cat when I travel for work, added social interaction with no cost. Cons: Higher gas consumption as the commute went from 3mi to 12mi, each way.
2) Upped my 401k contribution from 5% to 12%, after doing my taxes this week considering trying to max it out this year, which would require upping it to ~28%.
3) Learning some about investing, opened a Roth to go along with my taxable account. Right now I have a combination of investment types -- some Value, some Dividend, some risky, and a little bit of paper silver/gold.
4) Abstained from big purchases. My car is 10 years old and I'm fighting off the urge to buy a new one. I've committed to waiting at least until the current inspection runs out or something drastic breaks. I'll also want to make a determination about long-term goals before I do this. I currently drive a sedan, but have no need for a big car. I'm thinking if I stay urban to get something smaller and more gas efficient. If I go rural or off-grid/small house getting a pick-up. If i go travelling/working abroad getting nothing.
5) Opened a Sallie Mae rewards card, and am using all reward points to pay down my student loans.
I'm going to post my January numbers, but first a snapshot of my net worth (2/17/2014):
Assets:
Checking: 3700
401k: 13500
Roth: 2400
Taxable: 4300
Car: 0
Total: 23900
Liabilities:
Credit Card: 0
Student Loans:
1) 9750 @ 6.5%
2) 850 @ 6.5%
3) 1100 @ 5.5%
Total: 11700
Net worth: 12200
Short term goal: Pay off the student loans ASAP. I don't like debt. Probably going to use my tax return to eliminate #2.
Long term goal: Set 401k to auto-pilot, build taxable and Roth, maintain 3-5k buffer in checking account.
January 2014 Numbers:
Income:
Paychecks (extra paycheck month): 4740
401k contributions: 914
Total: 5654
Expenses:
Rent & Utilities: 638
Health Insurance: 240 (80$/ paycheck)
Student Loan Payments: 254
Groceries: 267
Non-Grocery Food: 169
Coffee: 86
Car:
Gas:116
Insurance: 73
Maintenance: 488
Other:
Entertainment: 211
Health: 40
Gifts: 80
Clothes: 10
Phone: 98
Cat: 15
Total: 2785
Saving rate: 51%
There are a few things here that are abnormal.
1) Income: 3 paychecks instead of 2
2) Entertainment: I bought a cheap bass guitar, renewed my XBox Live subscription, and went to a Bruins game
3) Gifts: Sister's birthday, and a gift card for a coworker who used his AAA to get my car towed for free because...
4) Car maintenance: Something froze solid in my car and it wouldn't start. Hopefully this won't be a recurring theme.
A few things that are embarrassingly normal:
1) Amount spent on coffee. There's a Shell convenience store and small local coffee place less than 100ft from my desk. It's a stress/boredom release crutch that I'm having a hard time quitting. A large portion of that non-grocery food bill is buying these at the Shell: http://www.amazon.com/Oskri-Almond-Dark ... colate+bar
2) Phone. I really need to get off verizon, but haven't decided if I want to go T-Mobile to pay my separation fee and then save 20-30 per month for the first two years, 40-50 after. Or pony up the fee and go small time. I'm on the fence.
3) Non-food grocery: This is about half the snacks mentioned above and half going out for salads at lunch because I was too lazy to make breakfast and dinner the night before. I'm hoping I can reduce this and #1 with a slight bump to normal grocery spending.
4) Health. I spend 11$/month for my gym. I spend 7-8 hours a week there so I think it's money well spent. I also spend a decent amount on vitamins, fish oil, etc. Right now I'm eating a very limited diet to try and cure some lingering health issues (I'll leave it at that, health is a whole other topic I could go on for days about). I can see myself attacking the other things on this list, but I'm ok with this staying high.
I'll be interested to see how normal that saving rate is, with all the outliers on the month. Thanks for reading... this feels oddly therapeutic.
About me:
30 year old male, currently work in Software Implementation. I don't hate my job (I actually enjoy the Implementation part of it) and I like the people I work with. It is a small company, so it's fairly stressful as there's no real infrastructure in place to keep up with our growing customer base. I'm actively job hunting, but not with any real sense of urgency.
I've been at this job for almost 3 years (a personal best). Before that I was a combination of under/unemployed for most of my post-college life. I managed to stay out of credit card debt, keep up with my student loan payments, and finish paying off my car, but I had zero savings, and actually my net worth didn't come into the positive numbers until just last year. I am frugal by nature, but wasn't very financially savvy. I read Jacob's book before finding the website, I think someone on Mark's Daily Apple linked to it, and I've slowly been making steps towards getting my savings rate higher.
Steps I've made since reading the book (September 2013):
1) Moved out of my tiny 1BR Apt in the city. It was $750/month + 40$ for internet and a little extra for laundry. I'm now renting a room from a friend in the suburbs for $425/month + utilities. The utilities are a little high in the winter, but this summer should be good for savings. Added benefits: roommates I know and trust, no lease or security deposit, someone to watch my cat when I travel for work, added social interaction with no cost. Cons: Higher gas consumption as the commute went from 3mi to 12mi, each way.
2) Upped my 401k contribution from 5% to 12%, after doing my taxes this week considering trying to max it out this year, which would require upping it to ~28%.
3) Learning some about investing, opened a Roth to go along with my taxable account. Right now I have a combination of investment types -- some Value, some Dividend, some risky, and a little bit of paper silver/gold.
4) Abstained from big purchases. My car is 10 years old and I'm fighting off the urge to buy a new one. I've committed to waiting at least until the current inspection runs out or something drastic breaks. I'll also want to make a determination about long-term goals before I do this. I currently drive a sedan, but have no need for a big car. I'm thinking if I stay urban to get something smaller and more gas efficient. If I go rural or off-grid/small house getting a pick-up. If i go travelling/working abroad getting nothing.
5) Opened a Sallie Mae rewards card, and am using all reward points to pay down my student loans.
I'm going to post my January numbers, but first a snapshot of my net worth (2/17/2014):
Assets:
Checking: 3700
401k: 13500
Roth: 2400
Taxable: 4300
Car: 0
Total: 23900
Liabilities:
Credit Card: 0
Student Loans:
1) 9750 @ 6.5%
2) 850 @ 6.5%
3) 1100 @ 5.5%
Total: 11700
Net worth: 12200
Short term goal: Pay off the student loans ASAP. I don't like debt. Probably going to use my tax return to eliminate #2.
Long term goal: Set 401k to auto-pilot, build taxable and Roth, maintain 3-5k buffer in checking account.
January 2014 Numbers:
Income:
Paychecks (extra paycheck month): 4740
401k contributions: 914
Total: 5654
Expenses:
Rent & Utilities: 638
Health Insurance: 240 (80$/ paycheck)
Student Loan Payments: 254
Groceries: 267
Non-Grocery Food: 169
Coffee: 86
Car:
Gas:116
Insurance: 73
Maintenance: 488
Other:
Entertainment: 211
Health: 40
Gifts: 80
Clothes: 10
Phone: 98
Cat: 15
Total: 2785
Saving rate: 51%
There are a few things here that are abnormal.
1) Income: 3 paychecks instead of 2
2) Entertainment: I bought a cheap bass guitar, renewed my XBox Live subscription, and went to a Bruins game
3) Gifts: Sister's birthday, and a gift card for a coworker who used his AAA to get my car towed for free because...
4) Car maintenance: Something froze solid in my car and it wouldn't start. Hopefully this won't be a recurring theme.
A few things that are embarrassingly normal:
1) Amount spent on coffee. There's a Shell convenience store and small local coffee place less than 100ft from my desk. It's a stress/boredom release crutch that I'm having a hard time quitting. A large portion of that non-grocery food bill is buying these at the Shell: http://www.amazon.com/Oskri-Almond-Dark ... colate+bar
2) Phone. I really need to get off verizon, but haven't decided if I want to go T-Mobile to pay my separation fee and then save 20-30 per month for the first two years, 40-50 after. Or pony up the fee and go small time. I'm on the fence.
3) Non-food grocery: This is about half the snacks mentioned above and half going out for salads at lunch because I was too lazy to make breakfast and dinner the night before. I'm hoping I can reduce this and #1 with a slight bump to normal grocery spending.
4) Health. I spend 11$/month for my gym. I spend 7-8 hours a week there so I think it's money well spent. I also spend a decent amount on vitamins, fish oil, etc. Right now I'm eating a very limited diet to try and cure some lingering health issues (I'll leave it at that, health is a whole other topic I could go on for days about). I can see myself attacking the other things on this list, but I'm ok with this staying high.
I'll be interested to see how normal that saving rate is, with all the outliers on the month. Thanks for reading... this feels oddly therapeutic.
Last edited by slimicy on Tue Jun 16, 2015 5:06 pm, edited 1 time in total.
Re: SlimIcy's Journal
Do you have a diesel car? When I read about unexpected cold spells in places that don't usually get them, I always wonder how the diesel car owners and fuel suppliers handle it. All northern European countries have specific regulations on when fuel suppliers need to use additives to keep the fuel from gelling.
In the United States the states do not have legislation on a fixed time frame when winter diesel must meet a specific temperature characteristic. The ASTM D 975 standard does not specify the cold flow requirements of diesel fuel. Instead, it suggests that the cloud point be no more than 6°C higher than the 10th percentile minimum ambient temperature for the month the fuel will be used.
Re: SlimIcy's Journal
@bigato Thanks, I'm hoping to learn a lot myself.
@henrik No, it's a normal enough car, just a 4 cylinder sedan. I don't know anything about cars, but my guy said that basically my compressor was already messed up and then it froze solid in the sub-zero temps, and because the car was only 4 cylinder it didn't have enough power to turn over. He didn't charge me much for the labor but the replacement part was expensive. I'm hoping this is the last real maintenance expenditure for a while.
@henrik No, it's a normal enough car, just a 4 cylinder sedan. I don't know anything about cars, but my guy said that basically my compressor was already messed up and then it froze solid in the sub-zero temps, and because the car was only 4 cylinder it didn't have enough power to turn over. He didn't charge me much for the labor but the replacement part was expensive. I'm hoping this is the last real maintenance expenditure for a while.
Re: SlimIcy's Journal
Current net worth (3/3/2013)
Assets:
Checking: 5300
401k: 14750
Roth: 2690
Taxable: 4685
Total: 27425
Liabilities
Credit Card: 0
Student Loans:
1) 9362
2) 823
3) 978
Total: 11163
Net Worth: 16262 (+4k since last month, a promising trend)
February 2014 Numbers:
Income:
Paychecks: 2870
401k Cont.: 1015
Other: 839
Total: 4724
Expenses:
Rent & Util: 643
Health Insurance: 160
Student Loan: 254
Groceries: 279
Non-grocery food: 43
Coffee: 12
Car
Gas: 102
Insurance: 72
Maintenance: 0
Other:
Entertainment: 117
Health: 40
Gifts: 0
Clothes: 0
Phone: 84
Cat: 12
Tax Prep: 18
Total: 1836
Savings Rate: 61%
-------
This was a pretty normal month as far as expenses go. Spent a little extra on booze (entertainment) because there were a lot of birthdays, but I just volunteer to be the DD any time there's a really expensive night out and have fun drinking water all night while making sure my friends get home safe. I did well reducing my non-grocery food using an upcoming family vacation in April (to Puerto Rico) as a motivation to stop snacking. I didn't do as well as it would appear on coffee, I'm just forcing myself to spend cash on coffee and incorporate it as an expense of my separate cash budget. If I stop making cash on the side I'll have to stop buying coffee.
There's some room for improvement: still researching options for phone plans, and I should really do some shopping around on my car insurance. I also plan on spending less the next few months on groceries as I took delivery of some local grass-fed beef that I'd purchased a long time ago, so the most expensive part of my diet (protein) should be 80% covered for the next 2-3 months.
The other income was my state and federal tax returns and $100 returned from FullTilt Poker via the DOJ, so the income numbers and savings rate were boosted a little bit. I'm feeling confident staying over 50% savings will be easy, and trying to get closer to 75% will be the challenge.
I was initially going to use the extra income to pay off one of the small student loans, but I'm going to hold off on that until after the vacation in April. The upfront cost of the vacation was just $10, my mom offered to pay for the hotel if we each bought our own flights, and I used my frequent flyer points to get free tickets. I'm going to bring some money to drink and gamble with, and anything I come home with will go directly against the two smaller loans.
I changed my 401k contribution from 12% to 28% mid-month, so I saw one of the two paychecks with the new distribution. I can see the benefits immediately, the paycheck goes down $300 but the 401k contribution goes up $450, so seeing a net gain of $150 per paycheck or $300 per month.
Assets:
Checking: 5300
401k: 14750
Roth: 2690
Taxable: 4685
Total: 27425
Liabilities
Credit Card: 0
Student Loans:
1) 9362
2) 823
3) 978
Total: 11163
Net Worth: 16262 (+4k since last month, a promising trend)
February 2014 Numbers:
Income:
Paychecks: 2870
401k Cont.: 1015
Other: 839
Total: 4724
Expenses:
Rent & Util: 643
Health Insurance: 160
Student Loan: 254
Groceries: 279
Non-grocery food: 43
Coffee: 12
Car
Gas: 102
Insurance: 72
Maintenance: 0
Other:
Entertainment: 117
Health: 40
Gifts: 0
Clothes: 0
Phone: 84
Cat: 12
Tax Prep: 18
Total: 1836
Savings Rate: 61%
-------
This was a pretty normal month as far as expenses go. Spent a little extra on booze (entertainment) because there were a lot of birthdays, but I just volunteer to be the DD any time there's a really expensive night out and have fun drinking water all night while making sure my friends get home safe. I did well reducing my non-grocery food using an upcoming family vacation in April (to Puerto Rico) as a motivation to stop snacking. I didn't do as well as it would appear on coffee, I'm just forcing myself to spend cash on coffee and incorporate it as an expense of my separate cash budget. If I stop making cash on the side I'll have to stop buying coffee.
There's some room for improvement: still researching options for phone plans, and I should really do some shopping around on my car insurance. I also plan on spending less the next few months on groceries as I took delivery of some local grass-fed beef that I'd purchased a long time ago, so the most expensive part of my diet (protein) should be 80% covered for the next 2-3 months.
The other income was my state and federal tax returns and $100 returned from FullTilt Poker via the DOJ, so the income numbers and savings rate were boosted a little bit. I'm feeling confident staying over 50% savings will be easy, and trying to get closer to 75% will be the challenge.
I was initially going to use the extra income to pay off one of the small student loans, but I'm going to hold off on that until after the vacation in April. The upfront cost of the vacation was just $10, my mom offered to pay for the hotel if we each bought our own flights, and I used my frequent flyer points to get free tickets. I'm going to bring some money to drink and gamble with, and anything I come home with will go directly against the two smaller loans.
I changed my 401k contribution from 12% to 28% mid-month, so I saw one of the two paychecks with the new distribution. I can see the benefits immediately, the paycheck goes down $300 but the 401k contribution goes up $450, so seeing a net gain of $150 per paycheck or $300 per month.
Re: SlimIcy's Journal
March 2014:
Income:
Paychecks: 2580
401k Cont.: 1422
Other: 24
Total: 4026
Expenses:
Rent & Util: 634
Health Insurance: 160
Student Loan: 254
Groceries: 164
Non-grocery food: 156
Coffee: 15
Car
Gas: 147
Insurance: 72
Maintenance: 1012
Other: 8
Entertainment: 104
Health: 127
Gifts: 0
Clothes:20
Phone:87
Cat: 47
Total: 3007
Savings Rate: 25%
---
Not a great month.
Had to drop $1000 into the car to keep it on the road. In the short term, this hurts. In the long term, I really can't complain. I've owned the car for 10 years, its been paid off for a while, and I'm still only replacing original parts.
Health spending was up, as I had an ear infection and just had my wisdom teeth out on the 1st of April. Most of that cost will show up in April, but consultation and antibiotics were accounted for here in March.
I've been a lot more active in my job hunt. I'm not happy here at my job professionally or at my current living situation personally, so I've been applying to Business Analyst positions all over the country -- mostly focused on some lower cost of living areas other than New England. Of course the first one I've actually gotten a bite on is in downtown Boston, but I'm confident I can make anything work, especially if there's a 15-20% pay increase.
It could just be a case of "always greener on the other side" but I'm ready for a change, and I'm confident that however it happens I'll be prepared to make the best of a move (get rid of the car, optimize living expenses, continue downsizing).
For now I'm sending out resumes and getting ready for a week in the caribbean (Puerto Rico) in mid-April.
Income:
Paychecks: 2580
401k Cont.: 1422
Other: 24
Total: 4026
Expenses:
Rent & Util: 634
Health Insurance: 160
Student Loan: 254
Groceries: 164
Non-grocery food: 156
Coffee: 15
Car
Gas: 147
Insurance: 72
Maintenance: 1012
Other: 8
Entertainment: 104
Health: 127
Gifts: 0
Clothes:20
Phone:87
Cat: 47
Total: 3007
Savings Rate: 25%
---
Not a great month.
Had to drop $1000 into the car to keep it on the road. In the short term, this hurts. In the long term, I really can't complain. I've owned the car for 10 years, its been paid off for a while, and I'm still only replacing original parts.
Health spending was up, as I had an ear infection and just had my wisdom teeth out on the 1st of April. Most of that cost will show up in April, but consultation and antibiotics were accounted for here in March.
I've been a lot more active in my job hunt. I'm not happy here at my job professionally or at my current living situation personally, so I've been applying to Business Analyst positions all over the country -- mostly focused on some lower cost of living areas other than New England. Of course the first one I've actually gotten a bite on is in downtown Boston, but I'm confident I can make anything work, especially if there's a 15-20% pay increase.
It could just be a case of "always greener on the other side" but I'm ready for a change, and I'm confident that however it happens I'll be prepared to make the best of a move (get rid of the car, optimize living expenses, continue downsizing).
For now I'm sending out resumes and getting ready for a week in the caribbean (Puerto Rico) in mid-April.
Re: SlimIcy's Journal
Looks like you're making good progress. I think you'll look back several months/years form now and really be glad that you decided to max out the 401k. Do you plan on maxing out the Roth as well?
Re: SlimIcy's Journal
I'm leaning towards getting rid of the student loan debt before I start investing more. I'm not confident that my investing ability will return better than the 6.5% most of my loans are sitting at right now. I haven't done much other than use all my credit card rewards against the one loan, but after my vacation this month I'm planning on being much more aggressive, with the goal of having those 3 loans paid off by the end of the year.
-
- Posts: 5406
- Joined: Wed Jul 28, 2010 3:28 am
- Location: Wettest corner of Orygun
Re: SlimIcy's Journal
6.5% interest is high enough that most investors would choose to pay off that loan. It's more than double what I'm paying for margin interest.
Re: SlimIcy's Journal
6.5% guaranteed would be tough to come by with investments. Sounds like you have a good plan.slimicy wrote:I'm not confident that my investing ability will return better than the 6.5% most of my loans are sitting at right now.
- jennypenny
- Posts: 6910
- Joined: Sun Jul 03, 2011 2:20 pm
Re: SlimIcy's Journal
If you're into gambling, have you read these threads?
viewtopic.php?t=152
viewtopic.php?f=3&t=2639&hilit=gambling
viewtopic.php?t=152
viewtopic.php?f=3&t=2639&hilit=gambling
Re: SlimIcy's Journal
@jennypenny
I just browsed them, I'm an old hat in the casino scene so nothing new to me. The only thing I see as profitable is Poker, which due to where i live isn't very accessible.
I just browsed them, I'm an old hat in the casino scene so nothing new to me. The only thing I see as profitable is Poker, which due to where i live isn't very accessible.
Last edited by slimicy on Tue Jun 16, 2015 5:06 pm, edited 1 time in total.
Re: SlimIcy's Journal
A lot of this journal has been optimistically negative -- not being happy but looking towards the future. Today is all about positivity. I just spent a week with family in Puerto Rico, and it was awesome. Beach, pool, drinks, islands, rainforest excursions, fancy dinners, and lots of craps.
I feel relaxed and refreshed here at the office today, my first day back, and it certainly helps that the vacation had a positive financial impact. The week before vacation my mom was in town at the local casino, so I took $200 out of my cash fund and played a little with her. I won a good amount. I then brought that to cover vacation expenses, so going into the trip (with an initial cost of just $10) I was already on house money. To make a long story short I spent a lot of money on the trip, and still came back with almost double what I brought, all due to some lucky dice.
Not your typical money making story on this forum, but today I put most of what I came back with into the bank and paid off my two small student loans.
So I went on vacation, got a tan, relaxed, reflected, had some quality family time, and increased my net worth by about 6%. No complaining this month!
I feel relaxed and refreshed here at the office today, my first day back, and it certainly helps that the vacation had a positive financial impact. The week before vacation my mom was in town at the local casino, so I took $200 out of my cash fund and played a little with her. I won a good amount. I then brought that to cover vacation expenses, so going into the trip (with an initial cost of just $10) I was already on house money. To make a long story short I spent a lot of money on the trip, and still came back with almost double what I brought, all due to some lucky dice.
Not your typical money making story on this forum, but today I put most of what I came back with into the bank and paid off my two small student loans.
So I went on vacation, got a tan, relaxed, reflected, had some quality family time, and increased my net worth by about 6%. No complaining this month!
Last edited by slimicy on Tue Jun 16, 2015 5:07 pm, edited 1 time in total.
Re: SlimIcy's Journal
April 2014:
Income
Paychecks: 2580
401k: 1422
Total: 4002
Expenses
Rent & Util: 533
Health Ins: 160
Student Loans: 253
Grocery: 112
Non-Grocery Food: 39
Coffee: 16
Car
Gas: 48
Insurance: 72
Maintenance: 0
Other: 18
Entertainment: 58
Health: 242
Gifts: 0
Clothes: 13
Phone: 87
Cat: 14
Total: 1665
Savings Rate: 58%
Net worth snapshot (as of 5/2):
Assets:
Checking: 5322
401k: 17425
Roth: 2009
Taxable: 4410
Total: 29166
Liabilities
Credit Card: 0
Student Loans:
1) 9452
2) 0
3) 0
Total: 9452
Net Worth: 19714
April was a good month. The vacation and payoff of the two small student loans helped me mentally, and it's awesome seeing that with an average savings rate of just 50-60% my net worth has gone up ~60% since January. Nice to have no surprise expenses, and they should decrease into the summer as I knocked off a 100$/month student loan payment and we won't have heating bills.
The Roth and Taxable account are down a little bit. I exited some positions before they tanked taking small losses before they became big losses, and reallocated the money to a long-term value play. I'm not putting any more money into it as of right now because it's a risky play, but I think there's a better chance that I see a 2-300% return in the next 2-3 years than that I lose it all. I'm mentally ok with losing it all if that happens, which is why I'm funneling money against the student loans right now. I'm at the threshold of being ok with the potential loss.
I still have no clue what I want to do or where I want to go long-term, but I figure in any of my plans the first step is getting that loan paid off.
Income
Paychecks: 2580
401k: 1422
Total: 4002
Expenses
Rent & Util: 533
Health Ins: 160
Student Loans: 253
Grocery: 112
Non-Grocery Food: 39
Coffee: 16
Car
Gas: 48
Insurance: 72
Maintenance: 0
Other: 18
Entertainment: 58
Health: 242
Gifts: 0
Clothes: 13
Phone: 87
Cat: 14
Total: 1665
Savings Rate: 58%
Net worth snapshot (as of 5/2):
Assets:
Checking: 5322
401k: 17425
Roth: 2009
Taxable: 4410
Total: 29166
Liabilities
Credit Card: 0
Student Loans:
1) 9452
2) 0
3) 0
Total: 9452
Net Worth: 19714
April was a good month. The vacation and payoff of the two small student loans helped me mentally, and it's awesome seeing that with an average savings rate of just 50-60% my net worth has gone up ~60% since January. Nice to have no surprise expenses, and they should decrease into the summer as I knocked off a 100$/month student loan payment and we won't have heating bills.
The Roth and Taxable account are down a little bit. I exited some positions before they tanked taking small losses before they became big losses, and reallocated the money to a long-term value play. I'm not putting any more money into it as of right now because it's a risky play, but I think there's a better chance that I see a 2-300% return in the next 2-3 years than that I lose it all. I'm mentally ok with losing it all if that happens, which is why I'm funneling money against the student loans right now. I'm at the threshold of being ok with the potential loss.
I still have no clue what I want to do or where I want to go long-term, but I figure in any of my plans the first step is getting that loan paid off.
Re: SlimIcy's Journal
May 2014:
Income
Paychecks: 2578
401k: 1422
Total: 4000
Expenses
Rent & Util: 594
Health Ins: 160
Student Loans: 131 (+500 extra towards principle, not counted in calculations)
Grocery: 257
Non-Grocery Food: 66
Coffee: 31
Car
Gas: 92
Insurance: 72
Maintenance: 57
Other: 30
Entertainment: 123
Health: 121
Gifts: 60
Clothes: 16
Phone: 86
Cat: 11
Total Expenses: 1907
Savings Rate: 52%
Net worth snapshot (as of 6/4):
Assets:
Checking: 4630
401k: 19277
Roth: 2240
Taxable: 4892
Total: 31039
Liabilities
Credit Card: 0
Student Loans: 8875
Total: 8875
Net Worth: 22164
---
I'm on pace for my net worth to have doubled over the first six months of tracking. Obviously being low to start makes that sound more impressive than it really is, but my savings rate hasn't been off the charts either (Best month: 61%, avg month ~50%). So it shows promise and room for improvement.
I think as my lifestyle stands I can expect monthly expenditures in the $1500-1800 range. This month was on the high side, but saw some one off expenses (gym renewal, gifts, a much needed massage, and a few nights on the town). I'm going to continue to tweak expenses and downsize, but any major shake up to my current environment would necessitate me enacting a more long-term plan, and I'm still not sold on any particular endgoal.
In good news: I've accepted a new job. I'll be moving from a stressful salaried position with sub-par benefits to a contract position at a larger company. The company I'm moving to will often bring their contractors on full time (I'm taking one of the positions vacated by 2 contractors who just went permanent), but nothing's guaranteed. It's a little risky, but if you put the hourly rate they offered into a salary conversion calculator it's a raise of almost 20% and a decrease in stress. I have much more fun learning new things that sitting here being frustrated.
I also don't feel like it's that much of a risk. One of the main things I've taken from the ERE book, and everything learned here on the board, is how to skew your life towards anti-fragility, and right now I feel very anti-fragile.
My plan is to stop funneling money into the 401k (I won't have the option for the first 6 months anyway) and getting the student loan paid off ASAP. If I can do that by the end of the year I'll be in a good position having eliminated the one truly anti-fragile thing left hanging over my head. I'll probably roll my current 401k into a Vanguard IRA and continue to contribute a token amount, but not at the current rate of 28%. Health insurance will also be an interesting factor. I'm not opposed to going without, and have for years before, so it will probably come down to what rate I can get.
Income
Paychecks: 2578
401k: 1422
Total: 4000
Expenses
Rent & Util: 594
Health Ins: 160
Student Loans: 131 (+500 extra towards principle, not counted in calculations)
Grocery: 257
Non-Grocery Food: 66
Coffee: 31
Car
Gas: 92
Insurance: 72
Maintenance: 57
Other: 30
Entertainment: 123
Health: 121
Gifts: 60
Clothes: 16
Phone: 86
Cat: 11
Total Expenses: 1907
Savings Rate: 52%
Net worth snapshot (as of 6/4):
Assets:
Checking: 4630
401k: 19277
Roth: 2240
Taxable: 4892
Total: 31039
Liabilities
Credit Card: 0
Student Loans: 8875
Total: 8875
Net Worth: 22164
---
I'm on pace for my net worth to have doubled over the first six months of tracking. Obviously being low to start makes that sound more impressive than it really is, but my savings rate hasn't been off the charts either (Best month: 61%, avg month ~50%). So it shows promise and room for improvement.
I think as my lifestyle stands I can expect monthly expenditures in the $1500-1800 range. This month was on the high side, but saw some one off expenses (gym renewal, gifts, a much needed massage, and a few nights on the town). I'm going to continue to tweak expenses and downsize, but any major shake up to my current environment would necessitate me enacting a more long-term plan, and I'm still not sold on any particular endgoal.
In good news: I've accepted a new job. I'll be moving from a stressful salaried position with sub-par benefits to a contract position at a larger company. The company I'm moving to will often bring their contractors on full time (I'm taking one of the positions vacated by 2 contractors who just went permanent), but nothing's guaranteed. It's a little risky, but if you put the hourly rate they offered into a salary conversion calculator it's a raise of almost 20% and a decrease in stress. I have much more fun learning new things that sitting here being frustrated.
I also don't feel like it's that much of a risk. One of the main things I've taken from the ERE book, and everything learned here on the board, is how to skew your life towards anti-fragility, and right now I feel very anti-fragile.
My plan is to stop funneling money into the 401k (I won't have the option for the first 6 months anyway) and getting the student loan paid off ASAP. If I can do that by the end of the year I'll be in a good position having eliminated the one truly anti-fragile thing left hanging over my head. I'll probably roll my current 401k into a Vanguard IRA and continue to contribute a token amount, but not at the current rate of 28%. Health insurance will also be an interesting factor. I'm not opposed to going without, and have for years before, so it will probably come down to what rate I can get.
Re: SlimIcy's Journal
Haha, believe me... it's one of the reasons I started this journal. Right after I read your book for the first time I did some digging on my coffee and lunch expenditures over time and my eyes almost popped out of my head. My job change should hopefully eliminate this expense, as it's 100% money spent at the coffee shop that's <100 feet from my desk here at the current job. It doesn't help that the barista's are all cute young women who I'm now friends with. In short, it's a boredom crutch more than a coffee dependence.
Re: SlimIcy's Journal
June 2014:
Income:
Paychecks: 2580
401k: 1422
Other: 0
Total + : 4002
Expenses:
Rent & Utilities: 523
Health Ins: 160
Student Loan: 131
Groceries: 174
Other Food: 206
Coffee: 38
Gas: 109
Insurance: 72
Maintenance: 71
Other: 20
Entertainment: 200
Health: 166
Gifts: 0
Clothes: 0
Phone: 86
Cat: 45
Total - : 2001
Saving Rate: 50%
Assets:
Checking: 4735
401k: 21317
Roth: 2146
Taxable: 4686
Total: 32844
Liabilities:
Credit Card: 0
Student Loans:
1) 8792
2)0
3) 0
Total: 8792
Net worth: 24092
**********
Well, I spent my ass off in the other food (going out to celebrate), entertainment (canoe trip long weekend), and coffee (last month at the old job next to a coffee shop) categories and was dreading my savings rate, but still managed 50% somehow.
Coffee should now drop to single digits, as I'll be having one cup of homebrew before the gym on weekdays and nothing else. Health insurance is going to go up a bit with the new job, but it's only going from 160 -> 215 per month for full health and dental, so I'm pretty happy with that.
The new job is going well, we'll see over the next few months how working hourly and not having a 401k contribution directly affects the finances. If I can have a good 3-4 months in a row I may just be able to pay off the last student loan before the end of the year.
Income:
Paychecks: 2580
401k: 1422
Other: 0
Total + : 4002
Expenses:
Rent & Utilities: 523
Health Ins: 160
Student Loan: 131
Groceries: 174
Other Food: 206
Coffee: 38
Gas: 109
Insurance: 72
Maintenance: 71
Other: 20
Entertainment: 200
Health: 166
Gifts: 0
Clothes: 0
Phone: 86
Cat: 45
Total - : 2001
Saving Rate: 50%
Assets:
Checking: 4735
401k: 21317
Roth: 2146
Taxable: 4686
Total: 32844
Liabilities:
Credit Card: 0
Student Loans:
1) 8792
2)0
3) 0
Total: 8792
Net worth: 24092
**********
Well, I spent my ass off in the other food (going out to celebrate), entertainment (canoe trip long weekend), and coffee (last month at the old job next to a coffee shop) categories and was dreading my savings rate, but still managed 50% somehow.
Coffee should now drop to single digits, as I'll be having one cup of homebrew before the gym on weekdays and nothing else. Health insurance is going to go up a bit with the new job, but it's only going from 160 -> 215 per month for full health and dental, so I'm pretty happy with that.
The new job is going well, we'll see over the next few months how working hourly and not having a 401k contribution directly affects the finances. If I can have a good 3-4 months in a row I may just be able to pay off the last student loan before the end of the year.
Re: SlimIcy's Journal
Hey slimicy, we are in a similar spot, similar occupations ect. I started about a year earlier than you and it has been pretty amazing watching the net worth grow over the last year. Anyway, I saw you were complaining about the phone plan- I recently switch to Republic Wirless, it is $10 / month. MMM talked about it on his blog. It has been working well for me the past couple of months.
Congrats on the new job by the way. I just switched jobs myself. It sucks being the new guy.
Congrats on the new job by the way. I just switched jobs myself. It sucks being the new guy.
Re: SlimIcy's Journal
July 2014:
Income:
Paychecks: 4882
401k: 364
Other: 38
Total + : 5284
Expenses:
Rent & Utilities: 571
Health Ins: 218
Student Loan: 131
Groceries: 221
Other Food: 227
Coffee: 5
Gas: 148
Insurance: 72
Maintenance: 837
Other: 78
Entertainment: 171
Health: 57
Gifts: 0
Clothes: 0
Phone: 86
Cat: 0
Total - : 2822
Saving Rate: 46.59%
Assets:
Checking: 5189
401k: 21203
Roth: 2099
Taxable: 4657
Total: 33148
Liabilities:
Credit Card: 0
Student Loans:
1) 8709
2) 0
3) 0
Total: 8709
Net worth: 24439
**********
More car problems. Had to get my transmission replaced. I seriously considered just getting rid of it, but going from a 20 minute to a 2+ hour commute via bicycle/bus isn't something I'm willing to do. I also looked into buying something new(ish), but I don't want new debt. Current plan is to hopefully have a better few months where I don't have to put money into it, pay off the student loans, and then re-evaluate in March when its inspection is up.
The new job is slow and steady, a little on the boring side. The money is nice, although this month looks a little better than it really was because I got paid for my last week in the old job. I am however thoroughly enjoying the lack of stress.
Income:
Paychecks: 4882
401k: 364
Other: 38
Total + : 5284
Expenses:
Rent & Utilities: 571
Health Ins: 218
Student Loan: 131
Groceries: 221
Other Food: 227
Coffee: 5
Gas: 148
Insurance: 72
Maintenance: 837
Other: 78
Entertainment: 171
Health: 57
Gifts: 0
Clothes: 0
Phone: 86
Cat: 0
Total - : 2822
Saving Rate: 46.59%
Assets:
Checking: 5189
401k: 21203
Roth: 2099
Taxable: 4657
Total: 33148
Liabilities:
Credit Card: 0
Student Loans:
1) 8709
2) 0
3) 0
Total: 8709
Net worth: 24439
**********
More car problems. Had to get my transmission replaced. I seriously considered just getting rid of it, but going from a 20 minute to a 2+ hour commute via bicycle/bus isn't something I'm willing to do. I also looked into buying something new(ish), but I don't want new debt. Current plan is to hopefully have a better few months where I don't have to put money into it, pay off the student loans, and then re-evaluate in March when its inspection is up.
The new job is slow and steady, a little on the boring side. The money is nice, although this month looks a little better than it really was because I got paid for my last week in the old job. I am however thoroughly enjoying the lack of stress.
Re: SlimIcy's Journal
So much for a lack of stress, although not the type I'm going to complain about. After my latest job switch I continued applying for jobs, and landed one more to my liking in Las Vegas. So I'm changing jobs again, and this time moving almost the entire way across the country!
I'm in the middle of condensing my life into two carry-ons and two checked bags in just under two weeks, as I start the new job Sept 15th. I'm going to do it fairly cheaply, as my past planning has worked out: no lease to break, no car payments, no furniture to move, one way flight using frequent flier points from the old job, AirBnb at 11$/night for my first week, and a rental car to apartment hunt.
My big questions coming up will be where I end up living, and if I'll need to get a new car. Right now I'm leaning towards two options: finding a cheap living arrangement and getting a car or finding a nice living arrangement and skipping the car. For me, cheap means renting a room in the suburbs and nice means a studio/1BR west and/or south of the strip. I'll have a week or two to feel out the commutes to work (there is more than 1 office) and if a car will be necessary, and try to gauge a few different living situations.
On to the boring stuff: a reasonable all around month without too many surprises. Started adding to my investments again (ORI and XOM both pre-dividend) in small chunks, and also paid down an extra $500 on the student loan again.
August 2014:
Income:
Paychecks: 3995
401k: 0
Other:0
Total + : 3995
Expenses:
Rent & Utilities: 525
Health Ins: 217
Student Loan: 131
Groceries: 120
Other Food: 110
Coffee: 6
Gas: 124
Insurance: 72
Maintenance: 26
Other: 0
Entertainment: 150
Health: 19
Gifts: 46
Clothes: 35
Phone: 90
Cat: 0
Total - : 1671
Saving Rate: 58.17%
Assets:
Checking: 5660
401k: 21737
Roth: 2052
Taxable: 5255
Total: 34704
Liabilities:
Credit Card: 0
Student Loans:
1) 8129
2) 0
3) 0
Total: 8129
Net worth: 26575
Doing this in my spreadsheet did make me feel good too, exciting times!

I'm in the middle of condensing my life into two carry-ons and two checked bags in just under two weeks, as I start the new job Sept 15th. I'm going to do it fairly cheaply, as my past planning has worked out: no lease to break, no car payments, no furniture to move, one way flight using frequent flier points from the old job, AirBnb at 11$/night for my first week, and a rental car to apartment hunt.
My big questions coming up will be where I end up living, and if I'll need to get a new car. Right now I'm leaning towards two options: finding a cheap living arrangement and getting a car or finding a nice living arrangement and skipping the car. For me, cheap means renting a room in the suburbs and nice means a studio/1BR west and/or south of the strip. I'll have a week or two to feel out the commutes to work (there is more than 1 office) and if a car will be necessary, and try to gauge a few different living situations.
On to the boring stuff: a reasonable all around month without too many surprises. Started adding to my investments again (ORI and XOM both pre-dividend) in small chunks, and also paid down an extra $500 on the student loan again.
August 2014:
Income:
Paychecks: 3995
401k: 0
Other:0
Total + : 3995
Expenses:
Rent & Utilities: 525
Health Ins: 217
Student Loan: 131
Groceries: 120
Other Food: 110
Coffee: 6
Gas: 124
Insurance: 72
Maintenance: 26
Other: 0
Entertainment: 150
Health: 19
Gifts: 46
Clothes: 35
Phone: 90
Cat: 0
Total - : 1671
Saving Rate: 58.17%
Assets:
Checking: 5660
401k: 21737
Roth: 2052
Taxable: 5255
Total: 34704
Liabilities:
Credit Card: 0
Student Loans:
1) 8129
2) 0
3) 0
Total: 8129
Net worth: 26575
Doing this in my spreadsheet did make me feel good too, exciting times!
