I Didn't Track my Spending in January: Here's How it Went.

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

I know this is supposed to be money management wins, but hear me out. Though I spent what seems like a ton, this was a result of me being kind to myself. I was feeling super burnt out going into the holidays and I decided not to track spending until after December (to have one less thing to think about). of the total spending $1,174.03 of it was bills and necessary expenses. the other $1,633.05 consisted of the following:

Coffee and takeout.
Dog grooming, Uber, and other conveniences.
Random amazon purchases.

Could I have saved a substantial amount of money in this category? Yes. Do I regret my spending? absolutely not. But I will be keeping a close eye on my spending going forward.

Total Saved Income: $1,651.80

A few things contributed to the amount of money I saved this month:

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.

I think a major hidden key to building wealth is the 401K because most times the employer matches your contribution, and it’s completely automatic. So you don’t even notice that you are building wealth over time.

To Wrap This Up…

I am pretty content with January, and am curious on your thoughts on my end-of-month budget. I realize that If I didn’t spend so much n take-out and ubers I could have invested a lot more money. ButI feel like I can learn from this. even though my spending was higher, paying myself first allowed me to swipe my debit card with more ease than usual. Some ways that I am aiming for improvement is via automation (Thanks to a kind suggestion from instagram!). I believe if I fully automate my savings It will be even more beneficial towards my budget. I’m excited to try it out in February. Welcome back to budget based life and thank you for reading. Please check out some of my other posts for similar content. Here’s to a prosperous 2023!