Money Update – October 2017

Every month I’ll post an update on my finances from the last month, with a focus on increasing income, spending less, and maintaining a high savings rate.  You can see previous updates here.

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Results – September 2017

2017 Savings Rate:  54%

Yep, still there.


Let’s see, September…

We went to New Orleans for a week on vacation – and we spent a bit more than we planned.  We don’t do a lot of traveling, and we take one “destination trip” a year, and we ate and drank like kings for a week, so I think it was worth it.  Also, I came away with a fiance, so, double worth it! 😉

Aside from excessive spending on beignets and coffee (beignets are French pastries that are like funnel cakes except way better), everything else was pretty tame this month.

Goal Progress – $25k Net Worth

Last month I set a goal for myself of hitting $25k in net worth by the end of the year.  To reach that goal, I’d have to maintain my expenses at their current level AND work hard on increasing my income.

Here’s what I did this month to increase my income:

  • Sold stuff – I sold a guitar, a camera, some books, and some gift cards.  I used Letgo for the guitar, sold the camera on, sold the books on Amazon, and the gift cards online.  Most of the money earned from this is still pending so will go under October.
  • Wrote like crazy – I’ve been working on some ideas for future blogs and have mainly focused my spare time on writing.  I’ve also been publishing articles on, where you can get paid in cryptocurrency when people like your stuff.  So far in the last month I’ve made almost $7 – not quite moon money, but it’s gotten me more interested in cryptocurrency and I’m writing daily.
  • Credit card/bank rewards – I got a $200 bonus from opening up a new checking account in August (still pending), plus about $50 in credit card rewards that I cashed out.  I also opened a Wealthsimple account with a promo code from Drop (link) and got $75, which I used for Amazon gift cards (you can’t redeem for straight cash).
  • Received quarterly dividends in my investment accounts!

The Results:

I created a graph to track my progress.  I started on September 1st, meaning I have 4 months to reach my goal (so 25% a month or better is what I need to do).

I fell short in September – I didn’t get as much overtime pay (thanks to PTO being used), we spent a bit more on vacation than we planned, and most of the extra money I made hasn’t hit my bank account yet.

The Plan For October

I’m currently working on another blog project and have set a deadline to publish it at the beginning of October.  Until then, I’m going to keep writing like crazy.

I also have a lot of opportunities for overtime at work right now, so I think I can snag at least an extra 5-10 hours a week there.  There’s also a few more items I think I can sell – I had a lot of success selling some books on Amazon and I have at least a bin full of ones I haven’t touched in a long time.

In October I also catch up on 401k contributions (they hit my account a week after payday, so it lines up this month that I’ll get 3).  Plus, I should receive all the extra money I made this month.

While it would have been great to get off to a fast start this month, I feel good about what I’ve set up coming down the pipe.  And other than vacation, my spending was pretty level.  October should be a big month and I’m excited to make more progress.

Thanks for reading!

If you’re interested, I use You Need A Budget for monthly budgeting.  For tracking Net Worth, I recommend Personal Capital (automatic) or (manual).

I calculate my savings rate as follows:

401k contributions + employer match + debt payments + other savings  / Take home pay + 401k contributions

4 thoughts on “Money Update – October 2017

  1. Love that savings rate! Great job picking up extra shifts at work. Every extra cent counts. 🙂 Our September was much, much better than our August. We were able to save over 40% of our income, which is a step back in the right direction. Phew.

    1. That’s awesome! It all adds up, and especially with extra hours at work an extra hour a day doesn’t feel like a whole lot. And I think it helps a lot to have a good September, it’s easy to start the year off hot and then lose track during the summer.

  2. Great savings rate! Keep up the hustle now, because the earlier you hustle the longer the money you make from it is put to work FOR you. Oh, and never stop – persist in everything you want in life.

    1. Right on! More than anything I’m trying to build good habits/routines – side projects and interests might change, but having good habits when it comes to building/working on things is something that also pays off in the end. Thanks for following!

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