October 2020 Financial Update:

Hope you all had a safe and fun Halloween! (if you celebrate it) Also, Feliz dia de los Muertos hoy y ayer! I love October-December with all of the holidays.

We kept our spending pretty low in October. We did update our bedroom this month by tearing out the carpet, getting a new light fixture, repainting the whole room, a new rug, new duvet cover, etc. Over all we only spent about $300 to totally transform our bedroom into a much more inviting space we enjoy and don’t hate now. That is the only thing we spent money on this month that was not a necessity.

The only areas we like to spend money are travel & making our home nicer. We are major homebodies and spend the vast majority of our time there. With not being able to travel at all this year, we put our usual travelling budget towards house updates. We do not like going out to the bars, care about what care we drive, care about having more expensive clothes, etc. We care most about having a nice space to come home to and travelling a couple times a year to experience new things.

I suggest figuring out what your top 5 goals/things you care about in life are and then focusing all of your money, time, and energy on those things.

For me, it is:

  1. Time with Family & Friends
  2. Travel
  3. A Nice Home
  4. Personal Health (Physical, Mental, Spiritual, etc.)
  5. FIRE (so I can enjoy more of the things listed above)

Our Goal Partial Financial Independence Numbers:

  • $100,000+ invested as extra money.
  • $30,000+ In Savings for Emergencies/Baby Fund.
  • An HSA we are Maxing out every year while working for Medical Expenses. (No specific Goal Number)
  • $0 Personal Debt- No Mortgage or Car Payment brings down our expenses a ton ($1,540/month).
  • With husband & I working part time (or one of us not at all).

Our Current Numbers as of November 1st, 2020:

  • $26,043.60 Invested.
  • $10,045.83 In Savings.
  • No HSA yet, will get one Oct. 2022.
  • -$149,094.24 Total Debt.
  • We are both still working full time.

Total amount needed to reach Partial F.I. Goals: $243,004.81

Thanks for reading! I’ll continue to post updates on our goals!

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