Monday, January 31, 2011

January Spending Review

Misc Income: $409.84


Retirement
My 401(k) contribution $214.54*
Company match $128.72*
Total Retirement savings: $343.26*
*pre tax amounts

Debt Repayment
Student loans $4,708.68

Spending
Alcohol $50.70
Business expenses $3.89
Electronics $86.97
Entertainment $102.55 (tickets to Blue Man Group -- one of the things on my NYC bucket list!)
Food—dining out $295.35
Food—groceries $328.01
Gifts $9.04
Household $11
Hygiene/Medical $95.32 (my haircut!)
Laundry $24.00
Rent $1,525.69 (normal rent plus $81 annual renter's insurance premium)
Transportation $20
Utilities $234.75
Total spending: $2,787.27

Networth IQ updated as well as student loan repayment tracker (see homepage).


Notes
Our networth keeps increasing at a good clip mostly thanks to Peanut's continuous freelance projects -- the checks keep rolling in! It looks good now, but it might be a bit painful at tax time next year.

Our student loan repayment looks extra heavy this month -- and it was. We decided to change things up just a little bit, to cancel family obligations. When Peanut was an undergrad, his parents took out a loan in each of their names for him, and he's now paid them both back. We still have three loans -- two for him, and one for me.

I now have a complete picture of what my take-home pay is, after downgrading our health insurance and stopping flex spending contributions: a $90 pre-tax difference makes a $50 post-tax difference. I almost wish I'd just funneled it into my 401(k) instead.

2 comments:

  1. Oops! Normally I explain that bit.

    Misc income includes things like rebates and refunds, interest payments on savings/checking accounts, survey income (Pinecone, etc), cash gifts -- some of it's taxable, some not, but it's basically any money coming in that's not "day job" money.

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