October 2019 Savings Rate
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I’m SHOOK. 😲 This month I was hoping to save approximately 50% since I knew I’d be spending more this month for my birthday party 🎉. Instead, I ended up 0.53% higher than my 77.13% savings rate last month!
There are 2 big factors that played into it, one good and one bad. The good thing is that since I’m on a biweekly paycheck, this month I got 3 paychecks. 🤑 The bad thing is I did not anticipate my company merging and shutting down their 401k plans. 👎 This means I got more cash out of my gross paycheck than usual, but also mean I probably won’t be able to max out my 401k this year. 😔
Savings
In major savings events, I opened up a 3rd savings account this month specifically for “Big Events” after reading I Will Teach You to Be Rich. I’m saving for my wedding or if I’m not married, a very big 35th birthday party.
Here’s my full October savings breakdown:
401k: $1,715.35
HSA: $150.00 – Upped my contributions to max out by 2019 since my 401k is temporarily discontinued. I have $2,588.70 left!
Roth IRA: $0 – Maxed for 2019
Savings - Emergency: $100.00
Savings - Travel: $400.00
Savings - Big Event: $1,500.00
Brokerage: $2,500.00
Checking: $3,936.08
Income
This is the most monthly income I’ve ever made in my life EVER. Partly due to the fact that my paycheck came 3x this month, but also because I’ve been hustling hard!
I took on a big freelance design project 🎨 and resold a few items of clothes on Depop & Facebook Marketplace. It was also my birthday, so I received a little bit of extra cash from family and friends. 💵
💰 Paycheck: $9,722.97
👕 Resale: $91.61
👩💻Freelance: $500.00
💵 Cash back: $3.79
📈Interest: $30.34
🎁 Gifts: $513.00
Expenses
My entertainment expenses were WILD this month, but I definitely planned for that and still came out at a high savings rate!
The total cost of my Halloween costume was $47.07 🎃, the food/beverages for my birthday party was $471.52, and I had my friends over for Thai food 🥘 on my actual birthday which cost $102.09, bringing my final birthday festivity expenses to $620.68.
Another BIG ticket 🎫 item from this month is Taylor Swift Lover’s Fest West concert tix. I was able to buy them at face value from my sister’s friend for $198.60. Confession: I’m not much into music, with the exception of T. Swift. 💕 I’m SO excited for this.
🏡 House: $850.00
💡 Utilities: $76.11
🚕 Transportation: $3.00
🥦Groceries: $162.38
🍽 Food: $31.88
🍹Drinks: $22.80
🛍 Shopping: $20.00
💻 Work: $26.33
🎥 Entertainment: $841.51
✈️ Travel: $0
🚙 Car: $44.77
🏥 Health: $213.00
🎁 Gifts.: $123.86
Misc.: $9.99
I added in a few new categories, Gifts 🎁 and Shopping 🛍 to this list since the last two months they’ve been at $0, but I’m probably going to need them going forward, especially with Christmas 🎄coming up.
I’m also doing a No Spend November in anticipation of the holidays. 🎅 This means NO shopping or buying anything that needs unless it needs replenishing. 🙅♀️ I’m not counting food/experience type stuff OR getting gifts for people. I’m hoping to actually do a bit of gift shopping on Black Friday/Cyber Monday since those have the best deals! 🖤
xo, Catie
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