She Strengthens

Halfway Through the Year: A Financial Check-In

As we reach the midpoint of 2018, I decided to take a closer look at my spending habits over the past six months. This exercise has proven to be incredibly valuable, especially when compared to previous years’ data. By digging deeper into my finances, I’ve gained a better understanding of where my money is going and what it says about my values.

A Breakdown of My Spending

From January 1 to June 30, I’ve had four income sources: salary, freelance income, interest earned, and employer HSA contributions, totaling $26,249.16. Here’s how I’ve allocated my funds:

Home Sweet Home

• Rent: $5,394.00
• Supplies: $184.67
• Furnishings: $49.54
• Kitchen items: $3.73
  Total: $5,631.94

Taxes: A Necessary Evil

• State/federal payroll taxes: $4,567.71
• 2017 taxes owed: $346.00
• Property taxes: $60.00
  Total: $4,973.71

Planning for the Future

• 401(k) contributions: $3,308.89

Medical Expenses

• Medical insurance: $1,260.80
• Copays: $187.29
• HSA contributions: $124.50
• Dental insurance: $66.16
• Prescriptions: $48.40
  Total: $1,687.15

Food for Thought

• Groceries: $1,329.55
• Restaurants: $152.96
• Alcohol and bars: $26.61
• Fast food: $9.48
  Total: $1,518.60

Bills and Utilities

• Utilities: $624.83
• Cell phone: $434.74
• Internet: $381.76
  Total: $1,441.33

Roth IRA Contributions

• Total: $1,380.00

Auto and Transport

• Insurance: $428.60
• Service and parts: $213.17
• Gas: $197.32
• Parking: $60.00
• License/registration: $20.00
  Total: $919.09

Travel Adventures

• Airfare: $532.71
• Insurance: $70.00
• Food: $60.64
• Transportation: $47.00
• Miscellaneous: $6.00
• Gear/supplies: $4.68
  Total: $721.03

Personal Care

• Hair: $400.00
• Skincare and makeup: $168.00
• Toiletries/hygiene/etc.: $95.56
• Spa/massage: $50.00
  Total: $713.56

Giving Back

• Gifts: $374.59
• Charity: $150.00
• Pledges: $60.00
  Total: $584.59

Shopping Spree

• Clothing: $172.03
• Office supplies: $32.41
• Accessories: $20.93
• Books: $12.36
• Electronics and software: $10.69
  Total: $248.42

Fees and Charges

• Membership fees: $105.98
• Service fees: $100.04
  Total: $206.02

Entertainment

• Movies/DVDs: $87.96
• Streaming sites: $63.93
  Total: $151.89

Miscellaneous

• Cash withdrawals: varies
• Miscellaneous items: varies
  Total: $156.00

Reflections and Takeaways

In total, I’ve spent $23,642.22 over the past six months, leaving $2,606.94 in my checking and smaller savings accounts. Upon reviewing my breakdown, I’m pleased with my retirement contributions, which account for roughly 18% of my gross income. I’m also proud of my increased entertainment expenses, which have allowed me to enjoy more movies with friends. However, my gas bill has taken a hit due to a family medical emergency, serving as a reminder to always leave room for unexpected expenses in my budget. Overall, I’m satisfied with my spending habits and look forward to continuing to prioritize my financial values.