I cannot believe that a quarter of 2016 has already passed, can you? It’s a bit shocking as my goals are glaring at me with even more ferocity. Every day I work on doing more, learning more and getting closer to being the person I want to be, getting to that place of pure happiness, simplicity, and life as I visualize it. Each quarter, I like to step back and take an overall snapshot of where things are year to date. Then the tweaking happens; that wonderful bit of magic where you find what’s working, what’s not and pivot ever so slightly in your strategy to get you to your desired end result.
For about four and a half months now, I have been living on my emergency fund and funds from being laid off from my job. I have officially emptied that pot and employment insurance is my only source of income until I regain employment. It’s enough to get by on, but a far cry from what I was used to while employed. It’s a quarter of my previous income. One of many reasons to hustle and get income any way I can.
How was Q1 2016?
Let’s start with saving. I’m not. End of story. When you’re unemployed, your form of saving becomes living as frugally as possible. Saving anything to an emergency fund or otherwise is at the bottom of the bottom of the list.
Spending – where did the money go in Q1 2016 (Jan, Feb and Mar)?
Everyday Expenses – $7,373 (81%)
This is the nuts and bolts of all my spending. Almost all my life falls into this category. Anything from groceries, entertainment, and pet supplies to car repairs. Thanks to YNAB’s awesome reporting, I’ve noticed several trends in my spending, a few of which are out of my hands. The car gods decidedly
blessed cursed me with a check engine light in March and a $408 repair bill. The cost of groceries has been increasing, primarily from the low Canadian dollar and produce being at an all time high. Side effects of my ongoing job search and networking efforts are that fuel, parking, and coffee shop expenses increase.
March was the busiest month and most expensive to date. I’ve decided that I’ll have to limit my networking and start to use public transportation when I can.
Monthly Bills – $952.73 (10%)
Nothing to see here. Carry on. Kidding of course. These are the basics – mobile phone, car/tenant/life insurance, and internet. All of these categories I’ve scratched and clawed for every discount possible. The last battle is to try out Telus again to reduce my $90 a month cell phone bill.
Business Expenses – $524.99 (6%)
I enrolled in a few services to improve the blog, the EBA course and PicMonkey for photo editing. Luckily, I had some blog income to set off the majority of the expenses.
Interest Charges – $240.56 (3%)
This is the only interest charge I pay each month and it’s on the remnants of my line of credit. Everything else is paid in full. No more car payments and no credit card balances at all.
March Goals Recap
Write every day BUT with a twist, 1-hour creative writing and 1-hour blog related writing. PASS
Re-learn the Piano for 1-hour each day. I have a KORG keyboard collecting dust along with lesson books from several years ago. Time to get on it! FAIL
Join a local writers’ meetup group. Keeping this simple. As an introvert, it could take me all month to get up the gumption to do this. PASS
Net Worth Magic Q1 2016
Super excited to share these numbers with you as there is super magic going on here! Things are slowly and surely coming together, my investments are growing, debt is decreasing and spending is under control. This, of course, results in net worth numbers I’m excited to share. Yes, it is declining again as we progress into the year but that’s because I’m depleting my cash reserves. I’m working hard to turn that around and stop the bleeding. 🙂
Jan 2016 Net worth $43,871.25
Feb 2016 Net worth $40,900.35
Mar 2016 Net worth $37,824.41
There’s some awesome magic for your day! A Spenderella can make shit happen. 🙂
How did the first 90 days of 2016 go for you? What are your plans for the next 90?
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