At the bottom of this post is a screenshot from the spreadsheet I was using in 2016 when I became serious about tracking my income, spending, and my investing.
In hindsight I wish I had made these posts in real-time, as my situation was unfolding. I had intentions to do so, but, I was focused on graduating at the top of my college class and landing a job that would triple my income.
This is for the month of March, 2016.
Let’s see what we’ve got!
Total Income: $2963.45
Total Spending: $1402.50
Total Invested: $873.99
% of Income Invested: 29.49%
Total Net Worth: $26,497.35
Ahhh…there we go. The sigh of relief I’ve been waiting two months for.
The numbers look really good for March, but there’s an obvious explanation. Found under the category of “Random/Other/Found” is where I list my federal tax return.
I was in school for the latter half of 2015, and worked a low paying minimum wage job for the first half. I was also receiving income support while in school through a Government run program that aids in the re-training of adults. Combining these three scenarios allowed me to reduce my income tax burden, and receive some refundable tax credits I otherwise would not qualify for.
I can remember thinking, “damn! I was only 4 cents away from receiving more than $100 in dividends and interest payments for the first time.” And, “I need to stop spending so much money on alcohol!”
The alcohol spending has always been a problem. The more updates I post the more you’ll notice; especially when my income spikes in 2017.
It probably sounds defensive but I should point out that that number includes alcohol I would purchase for my wife, way-too-expensive drinks bought at restaurants, and it naturally reflects the higher cost of alcohol where I live; a government run monopoly is likely responsible (e.g. $45 for 24 cans of beer).
Otherwise, I have to say, seeing my net worth jump by about $3000, or nearly 15%, was exciting. Crossing $25,000 seemed symbolic as I was officially 1/4 of the way to $100,000.
Click the picture below if you want to explore the different categories.