The Money Muse

March marked a significant chapter in my life journey. As I celebrated my 30th birthday, surrounded by loved ones, I also reached a new financial milestone with a net worth of $230K, a notable increase from the previous month’s $223K. This period was not only about blowing out candles and exchanging gifts but also about reflecting on my financial progress and setting sights on future aspirations.

Let’s dive into the key elements of my March finances:

• Income. My after tax income from the month of March was $4,200. Most of this was from my salaried job, and $430 was from my Etsy shop.
• Investment contributions. Before taxes, I contributed $540 to my 401(K), including an employer match. From my after-tax income, I put $580 into my Roth IRA and $1,460 into my brokerage account. In total, I invested 49% of my after-tax income in March. This is a high percentage of my income (the Money Guys recommend 25%), but I would love to have the opportunity to retire early, if possible. For the most part, I invest my money in VTI, Vanguard’s total stock market ETF. This move was inspired by JL Collins’ Simple Path to Wealth (a great personal finance book that I highly recommend!). 
• Investment performance. While not quite as stellar as February, March was another great month. My net worth increased $7.9K (3.6%), with my Roth IRA experiencing the highest percentage increase (4.5%), followed by my brokerage account (3.9%), and my 401(K) (3.8%).
• Spending breakdown. After bills ($700), I spent the most on unnecessary food and alcohol purchases ($320), home goods ($230), and hobby supplies ($210). My big home goods purchase this month included dining room chairs. I moved to a new apartment with my partner in November, and we had to leave some of our furniture behind, so this purchase has been a long time coming. It’s also gardening season, so my hobby spending was higher this month, even though I used some gift cards. That one snuck up on me a bit, but this isn’t a category I mind spending money on at certain times of year. Gotta get that dopamine!
• Future plans and goals. I spent more on eating out and alcohol than I would’ve liked to in March, so I really want to focus on working with my partner to be more intentional about this category of spending. This has been tricky, as we recently moved to be closer to my family and friends, and we often socialize by going out to eat or drink. We’ve talked about inviting people over to cook, starting a “supper club” of sorts. I’d like to get the ball rolling with that in April.

I invite you to share your own financial experiences, questions, or feedback in the comments section below. Let’s engage in meaningful conversations and support each other on our respective financial journeys.

Additional resources:

• Empower has my favorite net worth dashboard, and the only one I use. Use my referral link to sign up for free and get $20: https://empowerreferral.link/s26875
• The Simple Path to Wealth by J.L. Collins is one of my favorite personal finance books! Check it out here!
• The Money Guys YouTube channel is one of my favorites for personal finance content. They are an incredible wealth (hehe) of information for anyone looking to learn more about this topic. Check them out here!