FINANCE YO SELF

Money Update – June 2017

[Almost!] 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.

Results – June 2017/Half way through 2017

2017 is half over.  Here’s what the cat dragged in:

2017 Savings Rate:  53%

Hmmm.

I didn’t do a progress update for last month and figured I would do one for June and reflect on the first half of the year so far.

I’m happy with where I’m at, even though my savings rate was almost 10% higher just a couple months ago.  I think over 50% is still a good area to be in, and I’ve decided my stretch goal will be to end the year over 60%.

So I’ve had some bigger expenses come up.  In May my phone met it’s demise (I like to think it did pretty well for a 4 year old phone).  It was also the beginning of a particular rough stretch at work, which has been a lot more draining and exhausting.  The upside is I’m getting a bit more overtime which is starting to show up in the current round of paychecks.

June was the month of car upkeep – registration, emissions test, oil change, and new tires means I’m about $700 poorer – which is 2-3 months of car payments, so no complaints here.

One bright spot is only $15 eating out last month!  This is in conjunction with us making more of an effort eat healthier and try new foods, so our grocery bills have increased.  As we get more efficient with our cooking, I expect the amount we spend on food to stabilize.

Other notes:

  • Half way through the year I’ve only spend $12 on clothes – I bought new socks.
  • My work 401k changed providers so my account was offline for almost 2 weeks.  At first this was stressful – I hadn’t really noticed I had the habit of checking account balances every other day or so.  Lately it’s been once or twice a week.
  • While I primarily stick to long-term index investing, I am interested in tracking dividends I receive – so far, I’ve earned about 66% of what I earned all of last year.  I actually forgot about dividends getting paid out for a little bit, and it’s a nice reminder that decisions past me made are, ahem, paying dividends!

How have you done half way through this year?


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 NetWorthShare.com (manual).

I calculate my savings rate as follows:

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


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Categories: Updates

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2 Comments

  1. Hahaha, I love that you’ve only bought socks this year. 🙂 I’ve definitely spent more than $12 on clothes, but in my defense, it was due to a job change and I bought them at a thrift store on fire sale. I get a pass, right? 😛 But great job with that savings rate! Ours hasn’t been that super lately (hovering around 40%), but every little bit is a win. 🙂

    • Matt

      July 9, 2017 — 9:10 pm

      Aha unfortunately I’m going to have to spend a little more on clothes later this year – mostly work stuff and probably shoes.

      And above 40% is great! It’s easy to have a high savings rate for a month, but it’s much harder to sustain one over many months and years.

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