Ahoy again and welcome back! We’re happy to see you!
-Yes. Simply ecstatic.
Don’t mind little grumpy pants over there, that’s their normal mood. Though, come to think of it, if I got you a little pair of pants would that make you happy?
Ah well, I tried. Anyway folks, today we are going to be delving into the deep dark ocean that is known as personal finance! Let’s start right off with my current income.
-You are going to tell random people on the internet how much money you make?
Indeed I am! Partially because I will be very careful to hide my true identity like a super-pirate so my information will remain safe, but mostly because I think it’s important to have real information during money talks to see where the person is coming from and to see if that information will be helpful to you.
-Ok, its you’re funeral.
As always, thank you for your support.
Now, here are my current income/expenses:
(If you click the pic, it will open up bigger so you can read it easier)
Huzzah for being an engineer! I am very happy to admit that I make a nice pile of coins each month. I’m making this much gold thanks to getting my master’s degree in Engineering and having been at my company for 5 years now.
A quick explanation of what everything means:
Before Tax Deductions: This all comes out of my paycheck before I ever see a penny, but I like keeping track of where it all goes just for fun. My company has a 5% match on 401k investments for 6% invested so I’m making use of that free money! I had my 401k contributions set at 15% but am trying to save for a house so I knocked it down to 6% so I would still get the company match but would also get more cash in my pocket. Medical, Vision, Dental plans. All normal stuff. The Flex Days line is me buying an extra week of vacation! An extra 5 days of chilling on the beach, worth every penny! Finally, the Health Savings Account, I put in 50$ a month to get a 50$ match. Once again, getting free money!
Taxes: Shiver me timbers! This section is the one I like the least! Income tax, social security, and medicare oh my! I keep it in just for records and I find it interesting the percentage of my paycheck that goes to these.
After Tax Deductions: Still before I get my paycheck, a little more money gets taken out, but this is fun money! This is another company incentive, an Employee Stock Purchase Plan when money goes in for 3 months, then company stock is purchased with the money for a 15% discount! Automatic 15% savings is awesome, sign me up!
Net Income: This is the money that makes it into my treasure chest from my day job and is what I use for all my spending and savings goals.
Other Income: Doing odd jobs like house sitting, finding 5 doubloons on the street, birthday gifts, this is the catch-all for the random money that I don’t really plan on getting.
Total Income: Net + Other = Total. Pretty self-explanatory but its just pretty to look at.
-“Pretty to look at.” I’m starting to believe you could be a pirate after all.
High praise coming from you!
-Not really, ninjas are totally cooler than pirates.
Continuing on before we were so rudely distracted-
-That sentence makes no sense…
I SAID *AHEM*
Expenses: Where my money goes every month.
Rent – I share a 2 bed 2 bath apartment with a roommate and a couple puppies.
Utilities – Water and trash bill, varies every month but is generally under 20 doubloons.
Food – For a single person, I spend WAYYY too much on food so I’m working on scaling this down. This should save not only my pocketbook but my waistline as well!
Donations – I have 7 groups that I give money to monthly, in varying amounts. I plan on giving a spotlight on each group in later blog posts.
Patreon – I have 11 artists that I support on Patreon.com, in varying amounts as well. Mostly webcomic artists but a few miscellaneous as well.
Phone Bill – Roommate and I share a plan. I pay for the phone, they pay the electric bill for the apartment. Good deal.
Gas – Fill up my little gas guzzler 2-3 times each month, I can usually stay under budget for this one.
Auto Insurance – I pay in full every 6 months, so this is the money I set aside into my bank account each month so it doesn’t slap me in the face.
Planet Fitness – Black membership to a fitness center I haven’t been to in…a month? Maybe more? I gotta year contract though otherwise I would cancel it, but who knows. Perhaps I’ll start going again.
That’s all my expenses. After that I have personal investing, my fun discretionary money, my house savings money, and general savings. I’ll probably address each of these in it’s own post so I won’t go into detail right now.
-Oh thank goodness, this post is getting really long.
That’s the first smart thing you’ve said today.
I think I shall end this here. If you have any questions, feel free to post below!
-Who’s going to have questions? No one reads your blog.
YET. They may not be here now, but they will be reading soon. Whenever they get here, I want them to know they are welcome to comment.
Until next time, avast ye scoundrels!
Photo Credit: @ Anna Chelnokova Dreamstime Stock Photos