Since I started the Money Crunch blog, I learned that one important thing is to manage the cash flow. I spent some time and tracked down my incoming cash and expenses for September. I hope this would give me a more revealing picture of my finances. I welcome your suggestions and comments as well!
Incoming (all figures are after-tax):
$4,200 signing bonus
$5,769 salary and misc
$645 Automobile - car payment, gas, tolls, parking
$2,492 Bills - housing, utilities, cell phone
$560 Cash withdrawal - probably goes to dining out
$150 Dining out
$141 Household - things to make the place clean and tidy
$201 Vacation - plane tickets, hotel to a wedding in Austin, Texas
$900 Misc - black hole
The numbers are not typical, since it includes:
* one-time signing bonus (after scary 40% combined federal and NYS tax rates)
* one-time security deposit
* one-time moving charges
I expect income to stabilize around $4,500. Since I get paid bi-weekly, some months have 2, some have 3 paychecks. I expect expense to drop to about $3,500, well, assuming I'll eat out and play less.
My goal is to put $1,000 to $1,600 into savings each month!
I'm going to tally up the income & expenses for month of October (October cash flow), then post it here soon. In the mean time, I'm going to write a bit about financial things. Stay tuned!