Making Progress Towards My Goals - March 2024 Update

I had a little downtime at the beginning of March, but then I spent more than two weeks on the road.

Financial

My goal this year is to invest 40% of my gross income from meeting work - 30% to index funds and 10% to something more aggressive.  I remain on track in Month 3.

In March, I earned $8,313* from meeting work.  I transferred $3,300 (39.7% of meeting income) to my brokerage accounts. I purchased shares of the Vanguard Total World Stock Index Admiral Fund for the 30%.  For the "more aggressive" investment, I bought 100 shares of Bayer (BAYRY).

In addition to these investments, I made a $1,000 contribution to my ROTH IRA in March.

Last month I said I was shifting to liquid investments due to potential capital calls for some of my real estate syndications, and it's likely that will continue.  However, I felt comfortable adding to my index fund this time.  I am expecting a tax refund in April which will pad my cash cushion.  I did receive a capital call for the new development in Columbus, OH, but I have enough cash on hand to fund it.

*This will not match what I report in my income blog as payments aren't always received in the month the work was performed.

Health

I'm doing well meeting my exercise goals by exercising at least 5x/week.  

Simplify

Adding a few things to the donation bin is becoming a routine.  I didn't actively declutter, but whenever I stumble on something I don't need, it either gets trashed or donated.

Have Fun, on a Budget

I want to limit the fun budget to $5,000 in 2024.  In March I booked a flight to Asheville for a trip on Allegiant Airlines this month, but then canceled plans when I picked up a 7 day meeting over those days.  Roundtrip for two was under $184.  I also paid for our AMC A-List subscriptions and the bought some Kava-based drink powders called U Relax.  These are our substitute for alcohol.

My Frugal Miser - March 2024 Income

In March I continued the trend of 5 figure income.  I worked meetings 21 out of 31 days.  I received rental income from both Alabama properties as well as one Realty Mogul distribution and a small monthly distribution from Open Door Capital.  

Open Door continues to pay interest on the promissory note as promised. 

March Income: $11,700

$6,565 Meeting Jobs
$0 Gig Apps (Rideshare, Food Deliveries, etc.)
$0 Amazon Deliveries

$2,648 Rental Income (Rental Expenses:  $359)
$2,373 Interest Income

$50 Other Sources

Investment Accounts Change in Value:  $4,840

My investments have steadily increased in value.

My Frugal Miser - March 2024 Expenses

 Don't let my total spending fool you.  March was a frugal month.  Being on the road for work nearly the entire month surely makes it easier to spend less.

• I prepaid $500 towards the water bill to earn a sign up bonus on a new credit card.
• I paid the $95 annual fee for the Chase British Airways card.
• I paid $5,000 towards quarterly taxes.  I just filed my 2023 tax return and can probably adjust that number down moving forward.

Fun

We love adventures.  Spending on experiences makes us better humans.  

• I spent $115 on a product called U Relax.  It's a powdered alcohol-alternative beverage.
• I booked flights on Allegiant for an Asheville trip that we aren't going to take - I was offered a meeting job over those dates and decided to do that instead.

March Expenses:  $6,704

$72 Auto (service, gas, insurance, AAA, etc.)

$95 Bank Fees (annual fees on credit cards)
$230 Clothing/ Personal Care
$356 Fun (vacations, movies, gambling, alcohol, concert tickets)

$366 Food

$247 Health and Dental

$89 Household/Home Repairs

$15 Unreimbursed Job Expense

$394 Reimbursed Job Expense

$0 Interest Expense

$0 Miscellaneous (cat sitter, gifts)

$5,119 Taxes

$509 Utilities 

Making Progress Towards My 2024 Goals - February Update

Here's how I did in February...

Financial

A new goal this year is to invest 40% of my gross income from meeting work - 30% to index funds and 10% to something more aggressive.  I remain on track in Month 2.

In February, I earned $9,102* from meeting work.  I transferred $3,750 (41% of meeting income) to my brokerage accounts. I purchased a 3 month term CD for the 30%.  The "more aggressive" investment has not yet been deployed.  

I am shifting to a more liquid investment (the CD) for now due to the performance of my real estate syndications and the likely need to add cash to those deals.  A few of the deals I invested in are new construction, and those construction loans have to be replaced by standard loans as the debt matures.  One deal I am particularly optimistic about is a development that was just completed in Columbus, OH.  The sponsors announced that a capital call is forthcoming to cover interest expense until the lease-up is complete.  Basically, the buildings are complete, but it takes time to fill them with tenants.  Interest rates are higher today than they were when construction began, so the project requires more cash to pay interest until things stabilize.  I'm willing to fund this shortfall because I am optimistic about the project long-term.

*This will not match what I report in my income blog.  I earned $9,102, but received less than that as payments aren't always received in the month the work was performed.

Health

I'm doing well meeting my exercise goals.  Last week I worked an event in Chicago for 8 days.  I visited the fitness center 5 of those days.  I also exceeded 10,000 steps on 5 days.  Unfortunately I made some mistakes on my diet.  I ate dessert twice and had carbs in the form of french fries, sandwiches and breaded fish multiple times.  There were some stressful personal events going on last week and I always use food as a coping mechanism.  Bad habit, no excuses.

Simplify

I worked so much last month that I was barely home.  I plan to add more to the donation box in March.

Have Fun, on a Budget

I want to limit the fun budget to $5,000 in 2024.  I didn't purchase any travel in February.  The fun budget was limited to our AMC A-List subscriptions and the purchase of some Kava-based drink powders.

My Frugal Miser - February 2024 Income

February was a strong earnings month.  I worked meetings 22 out of 29 days.  Rental income was lower than expected.  I received rent from only one of my Alabama rental properties.  I also received one distribution from Realty Mogul and the small monthly distribution from Open Door Capital.  I received an unexpected windfall in the form of a $492 check from a class action settlement involving my brokerage account.

Open Door continues to pay interest on the promissory note as promised. 

February Income: $14,501

$9,428 Meeting Jobs
$6 Gig Apps (Rideshare, Food Deliveries, etc.)
$0 Amazon Deliveries

$2,196 Rental Income (Rental Expenses:  $359)
$2,345 Interest Income

$526 Other Sources

Investment Accounts Change in Value:  $1,557

My investments were up in February.

My Frugal Miser - February 2024 Expenses

 February was a decent month.  

• I paid the annual fee for my Self-Directed IRA.
• We worked an event in Orlando for the staffing company that introduced me to this industry.  It normally doesn't cover hotel rooms, so we paid out of pocket for it.
• Miscellaneous was income this month as I received proceeds from selling the Bruno Mars tickets.  My speculative purchase of these tickets resulted in a major loss.

Fun

We love adventures.  Spending on experiences makes us better humans.  

• No vacations were planned.

February Expenses:  $2,892

$77 Auto (service, gas, insurance, AAA, etc.)

$895 Bank Fees (annual fees on credit cards)
$267 Clothing/ Personal Care
$220 Fun (vacations, movies, gambling, alcohol, concert tickets)

$558 Food

$13 Health and Dental

$30 Household/Home Repairs

$267 Unreimbursed Job Expense

$350 Reimbursed Job Expense

$0 Interest Expense

($265) Miscellaneous (cat sitter, gifts) income this month

$425 Taxes

$199 Utilities 

Making Progress Towards My 2024 Goals - January Update

January was a super busy month, yet I found time to work on my goals for this year.  To keep myself accountable, here's an update:

Financial

A new goal this year is to invest 40% of my gross income from meeting work - 30% to index funds and 10% to something more aggressive.  I'm on track in Month 1.

In January, I earned $8,126* from meeting work.  I transferred $3,850 to my brokerage accounts.  As a bonus (not part of this particular goal), I also made a $1,000 contribution to my ROTH IRA.  I chose the Vanguard Total World Stock Index Fund (VTWAX) for the 30%.  The "more aggressive" investment was a PUT option against Beyond Meat (BYND) that expires in January 2025.

*This will not match what I report in my income blog.  I earned $8,126, but received less than that as payments aren't always received in the month the work was performed.

Health

I want to lose weight and exercise 5x/week this year.  I've lost a few pounds and I met my exercise goal in January.

Simplify

This one is all about getting rid of things I don't use.  I found out both Amazon and Microsoft have a program where you can sell back your used electronics.  For me, this isn't about maximizing what I make from my old stuff.  It's about getting rid of things without hassle.  I sold 5 old items to Amazon (I received $22 as an Amazon gift card - pitiful but effortless).  I also sent off two Surface Pro 3 tablets and a Samsung S9 phone to Microsoft.  I just sent those and am waiting for the trade to be approved, but I should receive about 1/3 what I paid for the tablets when I bought them used.  I'll receive $58 for the three devices if they are approved.

I also added 6 pieces of clothing, a couple books, a lamp and a few miscellaneous items to the donation box.  I trashed our 10 year old Roomba and a second robot vacuum and replaced them with a new one.  I also trashed a worn out pair of shoes and broken solar charger.

Lastly, I simplified my finances just a tad.  The authorized user fee for my AMEX was $195/year, so I canceled that card.

Have Fun, on a Budget

I want to limit the fun budget to $5,000 in 2024.  In January, we drastically cut down on alcohol consumption.  We took a 2 night cruise on Margaritaville at Sea, but it was paid for in December.  I didn't book any other getaways, so the fun budget was barely touched last month.

I'm off to a promising start.  Of all these goals, losing weight will be the toughest.  It's ridiculously hard for me to stick to a diet.  Food is my addiction, yet I can't live without it.

My Frugal Miser - January 2024 Income

January was a nice month for income.  I worked 20 consecutive days doing meetings.  We ended the month with a two day Margaritaville cruise.

I didn't do rideshare or work any Amazon routes.

Rental income was as expected.  I received rent from both Alabama rental properties and the small monthly distribution from Open Door Capital.  Rental expenses were a bit higher than normal.  I paid the fire dues on the condo and my management company charged a research fee to pull up some old repair records I needed to submit for a class action lawsuit.

Open Door continues to pay interest on the promissory note as promised. 

January Income: $11,014

$6,522 Meeting Jobs
$0 Gig Apps (Rideshare, Food Deliveries, etc.)
$0 Amazon Deliveries

$2,112 Rental Income (Rental Expenses:  $1,510)
$2,381 Interest Income

$0 Other Sources

Investment Accounts Change in Value:  $4,284

My investments were up in January.

My Frugal Miser - January 2024 Expenses

January was a decent month.  

• I prepaid my health insurance for the year.  I'm working on a sign-up bonus on a new credit card and doing this gets me closer to the bonus.
• We worked one event in Orlando where only lunch was provided, so the food budget is mostly our dinners that week.
• My scheme to resell the Bruno Mars tickets was a bust.  I had no idea Ticketmaster would set a minimum sale price, yet oddly would offer a "sell it now" option for significantly less than that price.  Tickets for the concert did not sell well, and I was not allowed to lower my offer price to match supply and demand.  Out of desperation, I sold at the "sell it now" price two days before the concert.  

Fun

We love adventures.  Spending on experiences makes us better humans.  

• We took a two night cruise on Margaritaville at Sea.  The company charged a fuel surcharge ($30/person) and gratuities, plus we had some small charges for ice cream and additional gratuities.
• No other vacations were planned.

January Expenses:  $5,834

$96 Auto (service, gas, insurance, AAA, etc.)

$544 Bank Fees (annual fees on credit cards)
$158 Clothing/ Personal Care
$274 Fun (vacations, movies, gambling, alcohol, concert tickets)

$445 Food

$3,265 Health and Dental

$48 Household/Home Repairs

$33 Unreimbursed Job Expense

$589 Reimbursed Job Expense

$0 Interest Expense

$96 Miscellaneous (cat sitter, gifts)

$251 Taxes

$36 Utilities 

My Frugal Miser - December 2023 Income

December was a lighter month for active income than I would have preferred, but real estate and interest income carried me.  Besides, we made the most of it by taking our vacation during a slow time.  I worked two meetings and one local transportation job - 15 days total.  

I didn't do rideshare but received a decent check from the rides I gave at the end of November.  The $1,141 check included a $700 bonus for completing 60 rides.  Without the bonus, my earnings would have been significantly below minimum wage.  I didn't complete a single Amazon route in December.  Amazon overhired drivers and most of the new drivers are happy driving at unprofitable rates, which I will not do.

Rental income was excellent.  I received rent from both Alabama rental properties and two distributions from Realty Mogul and one from Open Door Capital.  I paid annual property taxes for the Alabama properties.

Open Door continues to pay interest on the promissory note as promised.  I also received a decent interest payment on my Capital One Savings balance.

December Income: $13,525

$5,280 Meeting Jobs
$1,141 Gig Apps (Rideshare, Food Deliveries, etc.)
$0 Amazon Deliveries

$4,598 Rental Income (Rental Expenses:  $3,035)
$2,506 Interest Income

$0 Other Sources

Investment Accounts Change in Value:  $998

My investments were down slightly in December.

My Frugal Miser - December 2023 Expenses

The majority of my spending in December was necessary, unavoidable expenses.  Strip out those categories and we were frugal last month.

• I am required to have business insurance for my meeting work and paid $404 for the annual policy.
• I renewed our homeowner's insurance for 12 months ($1,243).  Because we have a new home in a different part of the city, this is 1/3 what I was paying in Clearwater.
• I paid $5,000 for quarterly taxes.
• Bruno Mars announced a new residency in Las Vegas.  A few years ago I was able to resell tickets to his concert at a profit, so I paid $1,311 for two tickets (miscellaneous category) with plans to sell them for more.

Fun

We love adventures.  Spending on experiences makes us better humans.  

• Thanks to a profitable blackjack game on the Carnival Miracle, I won $2,600 gambling, making the Fun category positive for the month.  
• We spent $50 on an excursion in Cabo.
• The balance was for our AMC A-List subscriptions, rideshare expenses during our vacation, and a small amount for alcohol.

December Expenses:  $6,698

$90 Auto (service, gas, insurance, AAA, etc.)

$0 Bank Fees (annual fees on credit cards)
$113 Clothing/ Personal Care
($2,279) Fun (vacations, movies, gambling, alcohol, concert tickets) income this month

$418 Food

$111 Health and Dental

$1,243 Household/Home Repairs

$481 Unreimbursed Job Expense

($238) Reimbursed Job Expense income this month

$0 Interest Expense

$1,527 Miscellaneous (cat sitter, gifts)

$5,093 Taxes

$140 Utilities 

My Frugal Miser - How I did on my 2023 Goals

 Every year I set a few goals to keep me on track.  In 2023 I published 4 goals:

• increase net worth by 12%; increase rental income by 15% or sell a property
• weigh 175 pounds
• declutter the house by removing 2 items for every new one, keep my inbox clear, stop wasting time doing unnecessary things
• Limit spending in the Fun category to $5,000

Let's see how I did...

• My net worth barely budged.  It increased by about $6,000 in 2023.  I knew while setting my goals that I was going to have a big tax burden to pay in 2023, I didn't realize it would be more than $94,000.  I consider the second part of that goal pertaining to rental properties a success.  I sold my last Florida rental property and I increased the rent on one of the Alabama properties by 14%.  I collected 10% more rent from the condo I own in Birmingham.  Real estate syndication income was basically flat.
• I gained weight.  Fail.
• I created a system for decluttering the house.  We keep a couple of large boxes in the office to store things that I'll donate, and when full, we take them to a nearby charity that operates a thrift store.  I spent some down time between meetings tackling to-do items that were clogging my inbox.  It feels like a weight has been lifted by finally conquering these procrastinated tasks.  Success.
• Spending on Fun in 2023 was $4,959.  Success - thanks to a winning gambling session on our December cruise, I just barely made it under my $5K goal.  This is the lowest this category has been in at least 5 years.  Progress.

Overall I feel like setting goals helped me accomplish more than if I didn't have a plan in place.