2022 came and went with so many financial highs and lows. It almost feels like the great bull run is a distant memory. This past year also introduced some new themes into my budget that I didn’t see coming. I traveled more than I ever have, got a raise at my job, and started planning a wedding! These things needed my full attention and is why I took a long hiatus in 2022. With that being said January started and ended with a BANG financially, and I couldn’t be more excited to show you some money- milestones that took place last month.
I know that all of us have been grinding this past year and I really hope you have some satisfaction in the work that you have put in. Though there are places where I can improve in my budget, I want to show the full fiscal picture because your debt-free journey doesn’t need to fit a specific blueprint. Keep reading for a quick January Recap!
Total Spending: $2,807.08
- Coffee and takeout.
- Dog grooming, Uber, and other conveniences.
- Random amazon purchases.
Total Saved Income: $1,651.80
- My PNC money market account raised its interest to 4%. Because of this I was given $32 in interest just for having money in the account!
- I received a dividend of $18.80. January has always been the worst dividend month in the market for me, but it’s better than nothing!
- I made sure to pay myself first as soon as I received my paycheck. This allows me to reach my monthly goal early so that my spending doesn’t have a negative effect on my budget.
I don’t like that my saving was a bit less than my spending this month, but I can look past it since there are more money wins coming down below!
Total Invested Income: $2,004.52
This number is insane in my opinion. When I started investing in 2018 I never thought I’d get to a point where I can dump thousands of dollars into the market each month. The growth is awe inspiring and Im truly grateful for being able to do so. Here is how I did it:
- My 401K match increased at my w-2 job after the completion of an acquisition. this raised the combined monthly contribution to $972 per month. I am not at the point where I can max my 401K yet, but I see it happening in the near future!
- I received an inflation bonus at work that allowed me to contribute double towards my Roth IRA in January. My original goal was to contribute $541.66 per month to reach the 2023 $6,500 contribution limit.