December 2019 Savings Rate
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UPDATE: Took a closer look at my accounts and earned $1,895 in dividends last month, making my actual savings rate 22.22%.
The first post of 2️⃣0️⃣2️⃣0️⃣ and it may be a little alarming to some (read: most). 😳 I’m happy though because it was my CHOICE to not work in December and I took the whole month off! 😎
Despite my abysmal savings rate, my overall net worth GREW. 📈 The trifecta of compound interest, investing, and a good market y’all. ✨ MAGIC
Here’s how my December expenses panned out…
Savings: $7,586.33
Even though I had no income, I had a lot of cash left in my checking from the previous two months high earnings.
I added more to my Emergency Fund because I decided I wanted to have not just 5 months of living expenses, but enough money to cover my whopping high $8,500 health insurance deductible. That means my new e-fund goal is $23,000. It’s currently at $17,000.
401k: $0
HSA: $0
Roth IRA: $0 – Maxed for 2019
Checking: $0
Emergency HYSA: $1,050.00
Travel HYSA: $600.00
Big Event HYSA: $600.00
Brokerage: $1,200.00
Income: $2,964.11
Just look at that sad ZERO paycheck. Ah well! I’m really enjoying get a taste of FIRE life.
UPDATE: As mentioned above, a few of my investments paid out their annual dividends, so I made way more this December than anticipated. In fact, it was enough to cover my expenses for the month and put my savings rate above 0%! If this doesn’t convince you about the power of FIRE and investing, I don’t know what will.
💰 Paycheck: $0
👕 Resale: $176.60
👩💻Freelance: $0.00
💵 Cash back: $117.90
📈Interest: $28.53
🎁 Gifts: $782.00
📈Dividends: $1,859.08
Expenses: $2,305.57
As anticipated my major expense category that was out of whack was Gifts and Shopping (Black Friday).
Work category is also exceptionally high because I ended up buying the millennialmoneyhoney.com domain and Squarespace plan as a present to myself on Black Friday. I figured it was a good investment!
As for shopping, that expense was due to the art I got custom framed. It’s a family heirloom plus I got a great Black Friday deal, soo I’d say that was worth it.
🏡 House: $950.00
💡 Utilities: $48.84
🚕 Transportation: $20.17
🥦Groceries: $0.00
🍽 Food: $177.61
🍹Drinks: $81.62
🛍 Shopping: $114.83
💻 Work: $230.29
🎥 Entertainment: $13.20
✈️ Travel: $33.86
🚙 Car: $0.00
🏥 Health: $213.00
🎁 Gifts.: $422.15
Misc.: $0.00
So now that my FIRE December is over, I’m back on the job market. Anyone looking for a visual/brand designer? 🙇🏻♀️ I’m available for hire!
xo, Catie
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