2020 Mid Year Money Check In

Whoaaaa we’re halfway there! Wow 2020 has been a wild year. Just wanted to check in with you guys and share my mid year progress.

Savings Rate: 62%

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What a drastic difference from 0% in January to now 95% in June. I moved back home in March so you can see that’s the inflection point where my savings rate went through the roof. Then in May my rent was taken over on my LA boosting my savings rate into the 90% range.

I want to keep that up at least through October, but am planning on holiday shopping starting during Black Friday so November and December I’m giving myself grace to save below that!

Side Hustle Income: $14,879

This year I’ve done so much freelance work, more than I’ve ever done in my life ever. Prior to this year I hadn’t done really any freelance design work as I don’t love to doing design work after working all day. In January and February I was only freelancing, so this amount covers those two months.

This number also includes the approximately $650 I’ve made through Poshmark sales.

9-5 Pre-Tax Income: $39,862

This is my pre-tax income for my 9 to 5 job. I love having a 9 to 5 for the structure and stability of an income and just in my life generally. I could never go back to freelancing design work on my own, but I’m so glad I tried!

YTD Gross Income: $54,741

My goal for this year is to earn six figures gross income (pre-tax) so I really needed that side hustle money to keep me on track for that since I only started my 9-5 job in March.

As long as my job remains steady I should be able to achieve my goal!

Net Worth: $193,000

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I thought I could make it to $200K by June, but no such luck. Still a good effort! By end of July I will achieve it through my paychecks so long as the market doesn’t drastically crash!

Financial Independence Progress: 18% to FI

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I’m up 5% from January on my progress to achieve financial independence and retire early. When I hit 25% FI I’m throwing myself a little quarter retirement party. It’s possible that it could happen as early as the end of this year, but if not, definitely Q1 of 2021.

Overall I’m super pumped with the progress I’ve made from this year! Can’t wait to see what the second half brings.

xo, Catie


April 2020 Savings Rate

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Holy cow! 🐮 I earned more in this one month than I did my entire first year post college ($12K). 😯 My savings rate increased dramatically from March due to several factors, which I go into detail below. Plus my 401K finally opened.

Here’s more deets on April’s savings rate:

April Income: $14,213.20

That’s wild! I’ve hit my second lifetime 5 figure month! Last time was in October 2019.

This is in part due to two things—1. a couple of freelance projects got paid (finally!) and 2. I received some stimulus check money.

Unfortunately, I’ll owe taxes on the freelance work, which is not accounted for here, but for now I feel rich!

💰 Paycheck: $8,817.16

👕 Resale: $40.65

👩‍💻Freelance: $4,450

💵 Cash Back: $37.35

📈Interest: $14.55

🎁 Gifts: $837.65

📈Dividends: $5.84

April Expenses: $1,726.40

With my stimulus check money windfall, I gifted half of it to organizations fighting the cause and effects of COVID-19—the World Health Organization and my local food bank.

The other half went into my emergency fund which I am trying to increase to a years worth of expenses. My expenses are still very low this month because I’m at my parents house.

I was able to treat my family to dinner and Starbucks a few times this month too!

🏡 House: $850.00

💡 Utilities: $0

🚕 Transportation: $0

🥦Groceries: $20.95

🍽 Food: $141.20

🍹Drinks: $0

💻 Work: $141.20

🎥 Entertainment: $0

✈️ Travel: $0

🚙 Car: $0

🏥 Health: $66.12

🛍 Shopping: $37.90

🎁 Gifts: $473.25

🤷‍♀️ Misc.: $0

April Savings: $12,486.80

Finally! I’m 401K eligible. My contribution level is 65% per paycheck, so I’m hoping to max it out by July. I don’t get a company match, but am still going to get value by reducing my taxes slightly.

401k: $3,165.76

HSA: $0

IRA: $0

High Yield Savings: $2,105

Brokerage: $3,500

Checking: $6,881.80

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Right now my savings rate goal for the year is 60% but I think I’m able to actually do closer to 70%. I also think I’m going to be posting a little less frequently than monthly on my savings rate progress. I think there will be better insights to pull if I follow up quarterly!

xo, Catie


Disclosure: Some of these links are affiliate links, meaning, at no additional cost to you, I may earn some compensation. All opinions are 100% my own! I truly appreciate you and your support. :)

March 2020 Savings Rate

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Amidst the turmoil of the COVID-19 pandemic 🦠 we’re facing, I’m so grateful to be on this journey to financial freedom. My savings rate increased dramatically from February due to several factors, which I go into detail below. I think now more than ever, it’s apparent that in order to weather the test of unexpected emergencies 🚨, it’s vital to save, and invest, and plan financially for whatever may come.

In other pandemic revelations, I’ve also discovered the deep, deep black hole that is TikTok. Honestly, I feel like I need to step away from my 📱, lest I start creating them myself HAH. Anyway, here’s more deets on this month’s savings rate:

March Income: $6,705.21

I have to count my blessings because prior to the coronavirus situation, I took a 40 hr/wk contract for 1 year. I’ll admit, I had some reservations, but I’m so grateful to be gainfully employed during these times. The universe truly provides. 🙏✨ So far it seems promising that it’ll continue and they won’t just end the contract early.

Prior to March, I was 💯% freelance designing and it would have been EXTREMELY stressful to not have this job. Although I had some invoices paid this month, I still have about $5,000 outstanding, no small change! 🤞Crossing my fingers they get paid in April…

💰 Paycheck: $4,653.31

👕 Resale: $16

👩‍💻Freelance: $2,000

💵 Cash Back: $0

📈Interest: $28.84

🎁 Gifts: $0

📈Dividends: $7.36

March Expenses: $1,201.84

Since we’re all sheltering in place, I haven’t been going out for drinks 🍸 or brunch, I haven’t filled up my gas tank ⛽️ or traveled, and my $213/mo Equinox 💪 membership is on pause. Because of these atypical circumstances, my expenses are wayyyy down—about $1,000 less than last month.

I’m still paying rent for my LA spot for the next 3 months until my sister sublets my room. Fortunately, since I’m currently living with the rents I’m not paying double rent PLUS I also get meals here! (I still help cook and clean, but it’s a very lucky situation.)

🏡 House: $950.00

💡 Utilities: $249.95

🚕 Transportation: $0

🥦Groceries: $0

🍽 Food: $25.57

🍹Drinks: $0

💻 Work: $161.33

🎥 Entertainment: $0

✈️ Travel: $20

🚙 Car: $0

🏥 Health: $152.69

🛍 Shopping: $0

🎁 Gifts: $0

Misc.: $0

March Savings: $5,275.89

Since I boosted my income dramatically this month, I’ve been able to save and invest despite this recession we’re in. I maxed out my traditional IRA for 2020! 🎉 Contributing to a traditional IRA is an optimal strategy when achieving Financial Independence 🔥, but I didn’t realize a key 🔑 detail. I make too much.

Honestly, it’s a blessing 🙏of a problem to have, but it negates the effectiveness of contributing to a traditional IRA. I potentially should have just contributed directly to a Roth IRA. I’ll have more details on my oversight in a future post and I’ll update with a link here once I put it together.

Starting in April I should have access to a 401K. I’ve run a few calculations and I think I’ll be able to contribute 65% of my paycheck while still making enough to pay my living expenses. I potentially can stretch that to 70%, but I’m planning on putting 65% and then adjusting.

401k: $0

HSA: $0

IRA: $4,000

Emergency HYSA: $5.00

Travel HYSA: $30.00

Big Event HYSA: $30.00

Brokerage: $0

Checking: $1,408.37

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I’m finally making progress on increasing my yearly savings rate. Since I’ve been cooped up inside these last 3 weeks, I think I’ve spent way too much time trying to optimize my savings. 😂Going to start watching that crazy Netflix docu-series, Tiger King. Hopefully, that will keep me occupied for a bit instead.

xo, Catie


Disclosure: Some of these links are affiliate links, meaning, at no additional cost to you, I may earn some compensation. All opinions are 100% my own! I truly appreciate you and your support. :)