June 2016 Update

This month was a pretty great month. I had my 24th birthday and I got to volunteer at the US Open in Oakmont, PA. It was an awesome experience being inside the ropes at one of golf’s major championships (probably the cheapest way to get front-row tickets as well!).  The two pictures here are of the “Church Pew” bunkers on the 4th hole, and a view from the 4th tee box over-looking the course.

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Not only was June an incredible month experience-wise, it was also a pretty solid saving month as well. I met my goal of saving $550 more a month than I was before I started this blog. Take a look below to see how things shook out in June!

 Budget  June
 Roth 401(k)         245        245
 Roth IRA         455        455
 Rent         900        900
 Electricity         120          28
 Gas           35            6
 Cable         120          25
 Car Insurance         125        122
 Parking DTLA         130        160
 Gas & Fuel           85        38
 Other Auto           75          111
 Entertainment           50          14
 Groceries         130          0
 Restaurants         110        94
 Misc Expenses           75      381
 Pets         125   163
 Shopping           50          86
 Additional Savings         550        552
     3,380     3,380

 

 

Roth 401(k) Contributions

Budget June
245 245

This is an auto deduction from my paycheck, it’s going to happen every month, rain or shine. Next month  this number should hopefully be much, much higher. I’m confident I can keep my expenses low enough to throw my “additional savings” bucket into my 401(k), so that should add another few hundred dollars.  Also, since I no longer need to pay for parking, I’m going to start putting that money into my 401(k) as well!

 

Roth IRA Contributions

Budget June
455 455

This is another auto savings device, it gets transferred from my direct deposit account to my IRA right after the first payday of the month.

 

Rent

Budget June
900 900

Fixed expense, don’t anticipate much movement in the rent price, but should it change, the budget will update accordingly.

 

Utilities

Utility Budget June
Electricity 120 28
Gas 35 6
Cable 120 25

This is one of the budget items I’m anticipating will have a large variance from budget to actual every month. The three reasons why though are good ones! Check out my March and April 2016 Update for more information.

The cable bill went a lot lower this month due to my call a couple of months ago. Its lower this month than it will be since I had paid May in advance, and cancelling some services midway through the month. I’m anticipating that my share will be about $35-40 going forward.

 

Car Insurance

Budget June
125 122

Doesn’t typically change from month to month. There’s a lot of advantages to being 24 that can help me keep my expenses low, but unfortunately when it comes to car insurance, being 24 sucks! I’ve tried plugging my info and desired coverage levels into every insurance provider I can think of, and this was the lowest I could find! Most other providers were somewhere around 150-210. I guess they really don’t want to insure young people!

 

Parking in downtown

Budget June
130 160

This will be the last month I’m paying for this!! So excited to slash $160 off of my expenses. See my post on my new commuting plan!

 

Gas (Auto)

Budget June
85 38

My gas expense was much lower this month than normal for a couple of reasons:

  • I filled up my tank Memorial Day weekend, which hit May’s expenses, even though most of the gas was used in June.
  • I was travelling for a week. I went back home to my parents’ house for a week to celebrate my birthday and Father’s Day.

Those two reasons cut out 2 weeks worth of gas for me this month. The other two weeks I squeezed into 1 tank. I’m looking forward to seeing a number this low every month from now on since I’m not driving downtown.

 

Other Auto

Budget June
75 111

I spent some money this month on the Metro experimenting to find the best way to and from downtown. I missed the sign up window for our work benefits for June, so my public transportation expenses weren’t covered by work. I also had Ubers to and from Santa Monica to celebrate a friend’s birthday that added to my expenses. Full breakout below:

Metro To and From Work 26
Uber to Santa Monica 23
Uber Home after Work (2 times) 22
Fast Track 40

 

Entertainment

Budget June
50 14

 

June was a cheap entertainment month. I guess that’s what happens when you’re back at home for 2 of the weekends! The only items this month were the monthly Netlfix membership for $8 (last month with the grandfathered plan, next month we gotta shell out the full $10) and a movie from PlayStation network (Zootopia, super cute movie, gave us a feel good Friday night!).

 

Groceries

Budget June
130 0

For the same reasons that my gas bill was lower this month, my grocery bill was lower as well. I didn’t have 2 weeks’ worth of expenses hitting in June. Also, my mom visited again this month and she picked up a week’s worth of groceries. Feels a bit like cheating to be able to spend $0 at the grocery store for a month, but hey, it helps the bottom line so I’m happy.

 

Restaurants

Budget June
110 94

 

I think this is one of the first times I’ve been under budget in Restaurants, so that feels pretty good. Out of the $94, more than half ($51) was spent in one night for my friend’s birthday. I’m glad I was able to have a good night out to celebrate, without having it break my budget.

 

Misc Expenses

Budget June
75 381

I typically don’t like a “catch-all” budget like Miscellaneous, since its easy to just shove things there and not worry about them. So even though I have this line item, I’m going to list out each transaction to help hold myself accountable:

 

June – the whole $381 came in 2 transactions! The first – $78, was spent on my Dad’s birthday presents, the second, $303 was on my girlfriend’s birthday present. One of her favorite artists has a concert near us next week so I got us some nice tickets. I’m thinking I need to separate Gifts from Miscellaneous, into its own line item. It seems like the past couple months all of my Miscellaneous items have been gifts!

 

Pets

Budget June
125 163

 

May was another crazy expensive dog month. Pretty much the entire amount ($120) came from our dog walker. See last month for a full explanation for reason why we have the walker for the time being. The construction is done now though so the dogs are back at my apartment for July. No more walker for us! The rest of it ($43), came from the flea pills for each dog. We didn’t have to buy any food this month since we got the large 40 lb bag in May.

 

Shopping

Budget June
50 86

June – totally blew through the $50 this month! Not like May when I didn’t have any shopping expenses. This month I bought a couple of things. The first ($35) was a basketball jersey with my firm’s logo so that I can play on the company sponsored team at the YMCA, the second, ($51) was for new towels and bath mats to go with the newly completed bathrooms.

 

Additional Savings

Budget June
550 552

My initial goal was to save $550 a month more than I had previously been saving. In June I baaaarreeelllyy got there, but I DID! And it feels awesome after having 2 months in a row of not hitting my number! This was a good month for my Trojan Bank and my Savings Rate, I’m happy when both of those numbers go up. I’m looking forward to keeping this momentum going into a strong July!

 

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