Finances Goals 2023:
- Keep $10,000 in my emergency fund
- I was able to keep my emergency cash above $10,000 all year.
- $250,000 in assets
- According to my potential real estate sale value and all my retirement accounts and cash combined, I have met this goal!
Financial Accomplishments of 2023:
- I applied for a total of 622 usability studies and completed 43
- I earned nearly $3,000 from studies last year paid out in gift cards, credits, checks, and cash
- I was able to use $293 reimbursed mystery shopping dining out this year (and got to try some cool new restaurants in the process)
- I’ve saved $618 on Too Good To Go since March of 2022 (the app that lets you rescue unsold food at your favorite spots from an untimely fate)
- I earned $115.50 from browser extensions and $75 from receipt uploading (as gift cards)
- Capital One Savings account increased their interest to 4.35% APY on all balances, letting my emergency fund earn me over the 2023 3.2% inflation rate
- I opted for Gift Cards to Amazon for many of my usability study payouts and combined those purchases with slow shipping to earn $68 in digital credits
- I earned over $500 in credit card rewards by utilizing my higher-earning card categories (I have a note on which cards are best for which spending categories)
- I fully funded both my Roth IRA and my HSA for the year
- My credit score increased to 800+
Finances Goals 2024
- Apply to 365 usability studies
- Make $2500 in side income including study gift cards and cash
- Complete 4 mystery shops
- Spend less than I make
- Save for Japan trip 2025
I like to take the month of January (my birth month) to update my net worth and financial information
I use a retirement calculator to see where I am on my retirement needs journey and fill out the following for the year:
|
Desired Retirement Age |
|
Location |
|
Annual Income before taxes |
|
Social Security Age for Benefits |
|
Yearly savings |
|
Annual Retirement Expenses |
|
IRA value |
|
401k value |
|
Shares ‘value’ |
|
Real estate (sale price – loan) |
|
HSA investments |
|
Precious Metals/Physical Assets Value |
|
General Investing |
|
Emergency Fund + cash |
|
Credit Score |
I take a look at my assets (and net worth) and how they’ve changed over time:
|
Asset |
2023 % of value |
2022 % of value |
2021 % of value |
2020 % of value |
2019 % of value |
|
Stock Shares |
18% |
13% |
10% |
11% |
16% |
|
Real Estate |
40% |
49% |
41% |
0% |
0% |
|
Cash |
4% |
4% |
8% |
24% |
16% |
|
General Stocks |
3% |
3% |
4% |
21% |
23% |
|
Physical Assets |
2% |
2% |
2% |
3% |
4% |
|
401k |
4% |
4% |
6% |
7% |
8% |
|
IRA |
23% |
20% |
25% |
31% |
32% |
|
HSA |
5% |
5% |
4% |
3% |
0% |
|
Total |
18.5% increase |
16% increase |
76% increase |
53% increase |
|
I like to check out where I am according to the government and possible future social security at SSA.gov
I look at how much I adhered to my monthly budgeting over the year and compare it to previous years’ spending:
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Health |
27% |
2% |
4% |
2% |
1% |
1% |
|
Fitness |
1% |
1% |
1% |
4% |
2% |
2% |
|
Education |
0% |
2% |
0% |
0% |
0% |
0% |
|
Eating Out |
4% |
8% |
3% |
5% |
4% |
3% |
|
Gift |
0% |
2% |
4% |
3% |
0% |
1% |
|
Groceries |
7% |
10% |
11% |
10% |
6% |
5% |
|
Household and clothing |
3% |
1% |
4% |
2% |
10% |
4% |
|
Travel |
2% |
5% |
5% |
3% |
11% |
13% |
|
Entertainment |
2% |
1% |
1% |
1% |
2% |
3% |
|
Bills – Transportation |
7% |
9% |
7% |
4% |
3% |
5% |
|
Bills – Housing+Utilities |
9% |
17% |
17% |
14% |
16% |
15% |
|
Bills – other (Phone) |
3% |
1% |
4% |
3% |
3% |
4% |
|
Other – Misc |
2% |
0% |
3% |
1% |
3% |
2% |
|
Charity |
0% |
1% |
1% |
1% |
0% |
0% |
|
IRA contributions |
9% |
12% |
12% |
9% |
6% |
7% |
|
HSA contributions from paycheck |
5% |
0% |
0% |
4% |
2% |
2% |
|
Taxes paid |
19% |
28% |
25% |
22% |
18% |
19% |
|
Real Estate Investment |
NA |
NA |
NA |
12% |
13% |
18% |
Each year I also update my Legacy Binder to make sure the information is correct and accessible:
- Insurance
- Personal Insurance (Disability – short term/long term, Life)
- Renter’s/House Insurance
- Health Insurance
- Car Insurance and AAA if applicable
- Location of Documents/Items
- Lastpass login, iPhone login
- Precious metals
- credit cards/debit cards
- Medical History
- Birth Certificate
- Social Security Card
- Passport
- Last Tax Returns
- Last Will and Testament along with: Durable Power of Attorney for Finances, Durable Power of Attorney for Healthcare, and Funeral Wishes
- Driver’s License
- Account Information
- Personal email and calendar
- All banks including HSA and investing brokerage accounts
- Business account and banking if applicable
- Phone plan and account access
- TSA Known Traveler
- P2P digital payment shortcuts
- Previous Addresses including the following information
- Dates lived there
- Landlord and contact information
- Reason for moving
- Rental price
- Emergency Contacts including
- Relationship
- Birthday
- Contact phone number
- Contact email
- Contact address
Rachel Author Barnard 