January 2018 Financial Update

Net Worth Jan 18

Ah! January! The month of renewed optimism until the cold really sets into your bones and the sun disappears behind those dreary, snowy clouds (in Canada, anyway).

This is the first month-specific financial update post since November since I took the first Monday of January to post about my 2017 year as a whole. Since that time, I’ve made it through the first two months of my new job, got offered to be a national speaker for an after-school program (yay side hustles!), and learned the cost of commuting.

In all, my savings rate for January was 61.42% over a spend of $2,199.05.

Spending 

Car Insurance $162.66
Car Parking $81.20
Cash $31.65
Coffee $17.90
Dating $126.17
Dining $104.00
Education $163.85
Entertainment $72.54
Fitness $37.67
Gas $0.00
Gifts $9.03
Grooming $26.60
Groceries $208.19
Internet $22.01
Laundry $12.37
Medical $7.80
Phone $45.20
Rent $862.75
Supplies $53.23
Transit/Tolls $154.23

Non-Overhead Expenses

Coffee ($17.90) – This doesn’t tell the full story since I paid with loose change for some coffee days. What can I say – it’s appalling how I haven’t used my French press at all this month. On the other hand, I guess I’m not buying super expensive lattes?

Dating ($126.17) – Two dinners: one at an amazing German sausage place, the other at a pretty decent Greek quick eats stop. Add in watching Paddington 2 (so good, by the way) with concessions, a toonie Tuesday play at Factory Theatre, and some random smaller food stops, and you get a higher than usual total.

Education ($163.85) – On the final level of my training at The Second City Toronto. This cost will fully disappear as of March.

Entertainment ($72.54) – Dinners and drinks with various catching up moments with friends. Again, higher than usual…

Fitness ($37.67) – First: I left my old gym and abandoned squash sadly. The $65.54 per month was just too cost prohibitive. Secondly, at the new gym I had the option of $24 bi-weekly or $452 up front. Of course I went up front because saving $172 is totally worth it. That does mean my fitness cost will now me amortized over the next 12 months. Thirdly, I went to the gym six times this month. Not bad considering my membership went live only the second week of January. Here’s hoping I can keep it up.

Food ($312.19) – I cooked so much more at home this month using my Instant Pot. The month-to-month decline in cost has probably been mitigated by rising food prices and the fact I had to buy some net new spices, etc. Still, I’m trying to eat healthier, so yay!

Gas ($0.00) – ZERO! Can I say that I’m super proud about how little driving I did this month?

Gifts ($9.03) – A CD of the original London cast recording of Les Miserables for my mom. She loves that show.

Grooming ($26.60) – Finally found a haircut I like. That’s Toronto prices for ya, though.

Medical ($7.80) – This is going to be a new category due to changes in health benefits. My coverage is only 90% in some areas before (but with higher maximums).

Supplies ($53.23) – I had to replace some stuff and restock with some cleaning supplies/tools. Notably my old comforter needed replacing.

Transit/Tolls ($154.23) – This is a new category for 2018. I take public transit to get to work now for about 7 minutes, but that adds $6.00 per work day, which amounts to $120 per month. On top of that, I bought a train ticket to see my girlfriend one weekend, and also had to pay a toll bill from a previous drive in December. I honestly don’t know how people commute each day when they sometimes have to pay two fares from different transit systems.

Investment Income (+$284.34)

Inclusive of savings accounts, realized gains and dividend income, I netted $284.34 passively. Not a bad start to the year.

Net Worth Update (+$2912.86)

A nice step forward, but there were some huge pullbacks amongst my Canadian dividend stocks. Rising interest rates are putting huge pressure on them. Just ride it out! My total net worth now rises to $150,168.83.

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Author: stretchingeverydollar

Millennial trying to retire by 40. Because why not?

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