June 2017: Financial Update

Summer and a three pay check month.

Summer is officially here and June means it’s a three pay check month – not that I’m spending any more than I need to.

IMG_20170618_125541.jpg
Blue Whale Exhibition at the ROM. Got free tickets from EQ Bank!

In fact, even though in a three pay check month I technically saved over 66% 69.55% of my income (this number has been revised to include pension deductions at reader advice), I’m still not doing as well as I’d hoped, overspending to $2,135.41 for the month. What did that look like?

Spending

Car Insurance $162.66
Car Parking $80.00
Cash $20.00
Clothing $167.08
Coffee $21.29
Dating $71.09
Education $109.23
Entertainment $29.68
Fitness $65.54
Food $295.28
Gas $62.74
Internet $22.01
Laundry $8.00
Networking $58.22
Phone $45.20
Rent $850.00
Supplies $19.51
Website $47.88

Everything was in the typical range. The car is always the killer with apartment parking and insurance adding to over $240 for the month before gas.

Non-Overhead Expenses

Coffee ($21.29) – Really unhappy with my coffee spend here. I got a French press for Christmas but this warm weather made me go impulse on those unhealthy Iced Cappuccinos from Tim Hortons.

Clothing ($167.08) – New wardrobe for work, namely two new pairs of work pants (my old ones of two years were all tearing in irreparable places) and three polos. I can’t wait for early retirement when I can get away with owning just one nice outfit.

Dating ($71.09) – The dating line is whatever I spend related to activities with my girlfriend. We like to keep track just to make sure we’re not going too crazy on spending. That sum includes a movie, 2 lunches, and a dinner. We did lots of free things too, like cycling and getting free tickets to the Blue Whale Exhibit at the ROM.

Fitness ($65.54) – I’m a YMCA member, it’s expensive. But it’s close to home and the facilities are great and I still don’t have a Netflix subscription. In June, I went six times to the gym. Not nearly enough as that’s over $10 a visit at that rate. I need to do better in July.

Food ($295.28) – As always, my biggest spend – I’m simply the worst these days at preparing my own meals at home and I dined out more than I should have.

Education ($109.23) – I started Level B improv classes at The Second City for fun to appease my creative brain. It also leads to a certificate I’ll stick on my résumé. I’ve amortized the cost of these classes across the three months I’ll be in them.

Entertainment ($29.68) – You could technically roll this and the dating category together, but if I separate the two, this budget line is a six-pack of beer and an expensive pint at a bar catching up with an old friend, and a movie.

Gasoline ($62.74) – Expenses also are higher than usual, mostly because I’ve been driving out to see my girlfriend and her unfortunately terminally ill father 90 minutes from Toronto. When it comes to life or death and people you care about, you do what you must to cherish the time you still have.

Networking ($58.22) – Our company day featured dinner at The Rec Room and a trip to a Jays game. The need to network can be expensive.

Supplies ($19.51) – I don’t have enough outlets, so I got one of those expanders from Dollarama. Allergies were also really bad, so I got some more of that extra strength stuff.

One-time expenses ($47.88) – This website domain. I was surprised at how cheap it was to get a site started!

Net Worth Update

As this is my first ever financial update, I’m starting from my net worth as of June 30, 2017. Afterwards I’ll begin sharing a month-by-month graph of how my money has grown.

Either way, I guesstimate my net worth grew around $4600 due to salary and investment income. I also got a nice $200 honourarium from a motivational talk I did earlier in June for a bunch of students in an after school program I used to be part of. I’m hoping this side hustle becomes a thing for me because I loved doing it. That brings my total net worth to $110,340.

If I include my cumulative pension contributions, my net worth is closer to $124,090. I do not use this as my ‘real’ net worth since some of that money is not in my hands.

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Author: stretchingeverydollar

Millennial trying to retire by 40. Because why not?

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