Checking In With My Savings Plan: March 2018 Edition

Photo by Michał Grosicki on Unsplash.

In March I received $2,794.73 in freelance income and $24.95 in book royalties, or $2,819.68 total.

Here’s how I divided up the cash:

• $140.99 went to my HSA
• $140.99 went to my traditional IRA
• $182.39 went to federal taxes
• $39.65 went to state taxes
• $169.17 went to my individual brokerage account
• $169.17 went to savings
• That left $1,977.32 for overhead, business, and personal expenses
• I also put $1,611 of my tax refund into my savings account and $2,000 into my individual brokerage account

I knew March would be a low cashflow month, so I deliberately budgeted as few personal and business expenses as possible. April is looking like it will be a high cashflow month (though I won’t know for sure until I get the checks, since some of them could end up paying out in May) and I am gearing up to make a lot of travel-related purchases for this summer.

I also put $1,611 of my tax refund into my savings account and $2,000 into my individual brokerage account, so let’s look at how all of that reflected the other big metric for March: my net worth.

Looks like all of that saving is still paying off. Whether I hit that $100,000 end-of-year net worth goal that I kinda told Vicki Robin that I would totally do is an interesting question. I’d need to raise my net worth by $2,333 every month, which is theoretically (though not easily) achievable. We’ll see what happens.

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