June is here!
And with it comes a lot of birthdays. In my family, at least. Typically that would mean a lot of spending, but luckily I’ve prepared a bit by buying some of the gifts in May and sort of spreading out the cost.
I am pretty blown away at what focus can do and what I’ve reading is right — as you hit each number, the next number comes and then the next, and pretty soon bigger numbers are within reach. It’s just amazing.
Enough about that, let’s see how I did.
Goal #1: Save 25% of Net Income, Averaged Monthly (Status: Ahead)
Somehow, I have managed to keep this average high. This month, I managed to save around 42% which, according to my Excel document where I track all this stuff, has seen me maintain an average 39% savings rate. Of course, I want to keep this average up so I will have to see what I can do to push past 45% this month to bring that 39% closer to 50%!
This will become particularly interesting once the Emergency Fund goal has been reached and I start diverting this savings rate into investments.
Goal #2: Reach $250 in Interest/Dividends for 2015 (Status: Behind, but close)
So last month, I left off at $62.01 and I’m realizing that I wasn’t actually on target for a goal of $250 in this current period of 12 months. Given that ($250 / 12) X 4 would be $83.33. Not to fret though, because at this pace, I am set to catch up by August at the latest. For now, I am behind where I need to be at $89.39 for the year with a gain of $27.36 for the month of May. Not bad!
Goal #3: Reach 18% Body Fat Before 2015 End (Status: Behind)
Sadly, this goal remains stagnant while I work through one of the more stressful times in my life. What’s important is that I don’t gain more body fat than the current 22% at which I reside. I’m focusing on that for now.
Goal #4: Reach Just $100/month in Net Side Income (Status: Behind)
This month, I actually worked toward this goal. There isn’t a ton of progress, but definitely some. For example, I tested out SwagBucks after reading about it on the r/personalfinance subreddit a few times. How much did I earn? About $1.00 before I changed my search engine back to Google from their clone search service. I tried. I really did, but it’s definitely not geared toward developers and I can’t have my search service impact my work. Still, it was a nice test and if I had more time, I can see this service generating a quarter of my goal amount, but alas.
Meanwhile, I am looking into making a finance-themed blog and giving it a monthly budget. Rather than posting all these finance-themed updates on this blog, I would dedicate posts there since this seems to be an obsession that won’t quit. I figure, I might as well jump in with both feet if I’m going to dedicate so much of my life to it anyway. And hopefully I can help people along the way as I wish someone had done for me 5 – 10 years ago.
Goal #5: Fill Emergency Fund to at least 75% (Status: COMPLETED!)
Goal #5: Fill Emergency Fund to 100% (Status: On Target)
75% has officially been reached, and four months ahead of schedule! It feels good to have knocked out one of these lofty goals way before I ever thought would be possible and set my sights on the real target: 100%. If things continue the way they have been going, I will have no problem hitting this number and then redirecting the flow toward investments (stocks, bonds, etc.), which is exciting, albeit scary without knowing what the future holds.
All things considered, it’s been an interesting month and hopefully June will go more smoothly.