Financial Freedom Blog Post #10

Dear Readers, 

It's me, Into the FIRE. 

How have you been? Well, I hope. 

We're going to do a little recalculation today to see how our numbers have been shaping up!

So let's start from the beginning.

Let's start from question #2: 

2) What are your current annual expenses?
3) What is "your number"? (This is 25 times or 30 times your annual expenses.)
4) What is your annual, monthly, weekly and daily savings goal?

So far I have the data for #2 and #3.

Exact averages month by month for 2018 were explored in Financial Freedom Blog Post #4, so I will just paste the average for all 12 months for 2018:

Average for 2018:

$3,045.09

2019 was missing more than a few months, so I will re-paste the prior months' averages as a refresher for you:

Month and Year	Total Spent
Jan 2019	$2,273.32
Feb 2019	$2,239.56
Mar 2019	$2,667.78
Apr 2019	$3,564.71
May 2019	$2,602.56
Jun 2019	$2,920.77
Jul 2019	$3,846.92
Aug 2019	$3,423.83
Sep 2019	$5,039.99
Oct 2019	$3,888.60
Nov 2019	$4,392.86
Dec 2019	$2,652.36
Average for 2019:	$3,292.77

I will also include the averages I have so far for 2020:

Month and Year	Total Spent
Jan 2020	$5,078.29
Feb 2020	$5,704.09
Mar 2020	$3,629.14
Apr 2020	$2,417.21
May 2020	$3,459.47
Jun 2020	$2,071.96
Jul 2020	$3,621.55
Average for 2020:	$3,711.67

You will notice there has been a trend up in the average spending so far. This is due to travel expenses. I imagine these might go down if/when we retire early since we will not be limited by vacation time, and we would be able to travel during the cheapest periods instead.

Also, in September 2019, there was a spike in the average spending. This was due to a rather large purchase of home goods from IKEA. This was necessary for Mr. ItF's sanity, so I consider this unavoidable. They say "Happy wife, happy life!" which is true, I guess, but it's important to consider your spouse's happiness even if they aren't the "wife" in the relationship. :)

So... the new number without further ado:

Average Spending per month (for Jan 2018 to Jul 2020):				3349.85
Average Spending extrapolated to a Year (Average):				40198.2
My 'Number' (25x Average Yearly Expenses):				1004955

So now you can see due to the higher averages, my new number is $1,004,955.00, which is an increase of $103,746.45. I'm not particularly phased by this increase despite the fact we didn't get any raises this year. :)

Although I plan to post more today, I'm going to split this up into a new post, so the posts are more manageable to read.

Thank you for reading,

Into the FIRE