My 2020 Money Goals

With the new year fast approaching I’m finally taking the time to flesh out some of my 2020 goals.

Financial Goals

• Average 60% yearly savings rate

• Max out Roth IRA, 401K, and tax advantaged savings accounts

  • Traditional IRA

  • HSA (if applicable)

  • 401K (if applicable)

• NO BUY 2020

  • No clothes or any material goods that aren’t a necessity

  • Can replenish items as they run out, but not in excess

  • Can accept donations/gifts

  • Can buy gifts for others

  • Can use gift cards to make purchases

  • Can spend on experiences, e.g. food and activities

• Open a travel rewards CC

  • Probably going with the Chase Sapphire Reserve because of these reviews by Wirecutter and Nerdwallet)

Career Goals

This includes goals for MMH too!

• Get a 3-6 month contract up in the Bay area

• Continue working in tech design roles

• Always negotiate salary/hourly wage

• Start Money Honey Podcast

• Blog bi-weekly

Personal Goals

• Stop caring about dating

  • Not sure how actionable this one is, but I always care too much.

• Call long distance friends regularly

Health + Wellness Goals

• Workout 2x/wk

• Drink 64oz of water a day

• Take a daily probiotic

• Read 18 books

• Meditate as much as possible

  • Reflect on self, priorities, and goals

November 2019 Savings Rate

WAHOO!!!!! November numbers are in and my savings rate is still in the ⚠️ 70% zone ⚠️ This is great considering my savings rate will be probably be negative in December since I’m not working. ✌️

For now, I’m enjoying time off with my sweet Bachan 👵🏻 and fam today!

Savings: $7,586.33

As I discussed previously this is my last contribution to my 401K for the year, so I won’t be able to max it out. :( Ah well. Instead I upped contributions to my taxable brokerage accounts

Here’s my November savings breakdown:

401k: $1,715.35

HSA: $1,000.00

Roth IRA: $0 – Maxed for 2019

Checking: $4,486.33

Emergency HYSA: $100.00

Travel HYSA: $100.00

Big Event HYSA: $400.00

Brokerage: $1,200.00

Income: $8,960.46

Another high income month, which is a nice last padding since I’m taking ALL of December off! Can’t wait to get a little taste of FIRE life. 💵

💰 Paycheck: $8,073.98

👕 Resale: $0.00

👩‍💻Freelance: $80.00

💵 Cash back: $0.00

📈Interest: $31.48

🎁 Gifts: $775.00

📈Dividends: $0.00

Expenses: $2,374.13

This month I took a trip back to my hometown to for my best friend’s engagement! It was a last minute surprise but spent about $412.36 in total.

Christmas shopping began this month so gifts category is high ($217.10) and I anticipate it will only be higher next month!

🏡 House: $950.00

💡 Utilities: $227.42

🚕 Transportation: $20.13

🥦Groceries: $0.00

🍽 Food: $23.47

🍹Drinks: $105.71

🛍 Shopping: $70.00

💻 Work: $84.00

🎥 Entertainment: $50.94

✈️ Travel: $412.36

🚙 Car: $0.00

🏥 Health: $213.00

🎁 Gifts.: $217.10

Misc.: $0.00

No spend November didn’t go as well as planned. I caved thrifted a dress while in Texas and I ended up getting a $40 Christmas tree. I’ll be able to use the Christmas tree for years to come though so I view it more as an investment haha.

Can’t wait for No Work December!!!

xo, Catie

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