🗓 Monthly Snapshot: July 2021
How well did I track against my goals this month?
I plan to write a post at the end of each month that tracks my health and progress towards goals. These cover the following main categories:
FI (Financial Independence) Contributions
Monthly Discretionary Spending Budget
Monthly Flows Breakdown
1. FI Contributions
By the end of the month,
Roth IRA: ✅ Completed YTD goal --> 100% Complete!
Pre-Tax 401k: ✅ YTD goal --> 100% Complete!
After-Tax 401k: ✅ YTD goal: On-Track --> 100% Complete!
Emergency Fund: ⛔️ YTD goal: Delayed. My Emergency Fund has been paused.
FI Investment: ✅ YTD goal: On-Track.
Overall, my July 2021 FI Contribution goals were ✅ On-Track (4/5 goals).
2. Monthly Discretionary Spending
At the outset of the year, my annual goal allowed for $20K in discretionary spending, split about equally between food and other spending. A few things have changed: I am starting to take a larger share of joint expenses and will be the single/primary earner for my household in a few months. Here's the full breakdown of spending this month, according to Mint.
Education: Paid college tuition for the Fall Semester
Home: Skipped a mortgage payment this month due to a refinance, and had a $4K home improvement project
Shopping: Travel prep
Gifts & Donations: Mostly family gifts
This month was an extraordinary high spending month. We treated several family members to fancy dinners, and also hosted several friends from out of town as well.
3. Monthly Flows Breakdown
This section breaks down all the money coming out of my checking account for the month. It may not match up all the way with money in any of the previous sections, since I sometimes pay the entire previous month's credit card bill and/or pre-pay my credit card to reduce the ultimate monthly balance.
A very unusual month.