April 2018 Financial Update

April 2018

Last month I spoke about how I had spent a crazy amount of money in February and once again in March. I was hoping April would be a notch lower – and it was until I bought a $722 suit. It is the price you pay when you work in a job that values “professional attire” and I particularly was looking for something long lasting. More on that later in a future post.

So there went another $2,722.18 at a savings rate of 53.82%. At this rate I am far exceeding my spending amount of $2000 per month and my goal for a 60% savings rate.

Spending

Car Insurance $128.50
Car Parking $81.20
Cash $28.72
Clothing $736.76
Coffee $15.70
Dating $154.54
Entertainment $58.44
Fitness $37.67
Food $302.50
Gas $54.04
Grooming $30.99
Internet $22.01
Laundry $4.75
Medical $11.98
Networking $11.73
Phone $45.20
Rent $862.75
Supplies $5.18
Transit/Tolls $129.52

Non-Overhead Expenses

Clothing ($736.76) – I bought a suit from Suit Supply. It’s really nice. But this basically means no more clothes for Albert for the rest of the year since it’s already had me exceed the entire clothing spending amount from last year alone.

Coffee ($15.70) – McDonald’s $1 coffees are clutch. This is going to go up with my obsession with cold coffees.

Dating ($154.54) – Three dinners, 1 movie night watching A Quiet Place, and occasional knick knacks. Now that we are both in the same city, our dating budget has been inching upwards.

Entertainment ($58.44) – Dinner with a friend and two movies. The popcorn put me over the time.

Fitness ($37.67) – Went to the gym 4 times. Not bad. Could do better – but at least I’m biking to work more. See “Transportation” for more details.

Food ($302.50) – Buying breakfast is what makes this number so high. I want to improve there – on the other hand, lots of home-cooked meals!

Gas ($54.04) – For how expensive gas has been this month, I’m actually proud of this number. Not a whole lot of driving other than visiting the family.

Grooming ($30.99) – Professional haircut. I wish my hair just never grew.

Medical ($11.98) – A massage at 90% benefits coverage.

Networking ($11.73) – A beer and a few coffees over networking.

Supplies ($5.18) – A shoe horn and some hand soap. I sometimes think I’m too detailed with this.

Transportation ($129.52) – I bought a $60 Toronto Bikeshare pass which was the best investment ever. By biking to and from work, I can save $6 a day in transit costs. I’ve already paid for 95% based on the commuting I’ve done in the past two weeks!

Investment Income (+$287.59)

Inclusive of savings accounts, realized gains and dividend income, I netted $287.59 passively, which brings my total for the first three months of the year to $1081.44.

Net Worth Update (+$2884.10)

Investments have been pretty flat in April, so this gain is basically what I saved net expenses. My net worth increased to $159,250.21.

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Author: stretchingeverydollar

Millennial trying to retire by 40. Because why not?

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