At the end of each month I provide a recap on all the income I earned from dividends (brokerage account only), blogging, side hustling, and working at my good ol’ 9-5 as a data analyst.
Related: August 2017 Income Update
This is also the first month I’ll be documenting my expenses because it’s the first full month I have spent living outside of my parent’s house. Prior to this month, my monthly expenses were too low to even blog about (which is obviously a good thing). Now that I have my own apartment, my expenses have increased noticeably.
The reason I share my raw monthly income and expenses is because I have always found it beneficial (and inspiring) to actually see the real numbers behind a bloggers financial journey. I love talking about ideas on how to become better with money, but I think it’s helpful to show a behind-the-scenes look at how I’m actually managing my own money.
Here’s what my income looked like in September along with the previous three months. All of these numbers are post-tax.
|Monthly Income Streams|
|Ally Bank Interest||$2.56||$2.07||$3.94||$6.37|
Here’s my September income broken down by type:
Here’s what my expenses looked like in September:
Here’s what my income, expenses, and net savings looked like in September:
September Savings Rate: 73%
My income dropped a bit this month due to a few reasons. My workplace was closed on labor day and I don’t have any PTO to use, so I just got paid for one less day than usual this month. Also, I didn’t pick up any statistics tutoring jobs this month. The blog income also dropped a bit, but the traffic increased yet again which is a positive sign.
In the short-term, it’s easy to get a little sad about drops in monthly income, but I’m not concerned about month to month fluctuations in income because I’m maintaining a long-term focus. I care more about seeing my income trend upwards over the years, rather than over the months.
It’s interesting to finally see what my monthly expenses look like now that I’m living on my own. I’m actually pretty happy with this month’s expenses of $1,266.
I do almost all of my grocery shopping at Aldi, which is conveniently right down the road from my house and their prices are unbeatable. I’m not actually sure if spending $222 is considered a lot for one person but it seems reasonable to me. I dropped $81 on dining out this month mostly on Chipotle and Subway. My phone bill jumped up to $33 mainly because I’ve been calling my parents more often. Parents are important so I’m cool with that bill.
Overall I’m pretty pumped about a savings rate of 73% and at this rate I’ll be able to consistently dump thousands of dollars each month into my brokerage and retirement accounts.
That’s all for this month, thanks for reading 🙂
My favorite free financial tool I use is Personal Capital. I use it to track my net worth, manage my spending, and keep an eye on my monthly cash flow. It only takes a few minutes to set up and it makes tracking your finances simple and easy. I recommend trying it out.
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