Payday! October 18, 2019

Plants growing out of money
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Today is payday, AKA Investment day is here, no, not exactly; it’s just payday! I’m excited to increase my savings for another rental property and buy some stocks on Monday on the opening bell. If you missed my last blog on my rental property payday, I went over the shares I purchased with the remaining cash flow after paying off my expenses. Make sure to check it out here

My paycheck

My paycheck for the last two weeks was $2510.79; I’m currently using nine exemptions on my job to get more cash and try to come as close as possible to a $0 tax return. I average around 30,000+ in deductions, and I started blogging to create an LLC for a side business to have more tax write-offs to increase my takehome pay. I wrote about my LLC experience, and if you like to read about it, click here. My current bi-weekly budget is below; the total is the amount I have left to pay off my spending. 

My spending

My spending for the last two weeks appears to be below my budget, which is always great news. I spent $101.87 on my Amazon card, which includes a monitor for my mom. My US Bank credit card had a $7.99 charge for a subscription to DC Universe. I have this subscription to watch Titans. Titans is a great tv show, and I will renew my membership for DC anytime this show comes out. My most significant expenses came on my American Airlines credit card for $203.13; this includes my electricity bill, a Groupon deal, and groceries. The Groupon deal is for a comedy show a friend invited me to see. I spent a total of $312.99 on all my credit cards. If you haven’t read my blog before, keep in mind that I pay off my credit card balance in full on every paycheck. 

Money for investing

I have $500 allocated for my savings for a third property. Robinhood has a budget for $164.57 for stocks. I underspent and have an extra $331.32 to do som additional investing. I realized last month that Lending club lets you auto-invest now, which I want to test out. They use to have some limitations before, and they appear to be gone on my account. I will add $50 to my Lending Club account, and the remaining $281.32 will go into my Robinhood account.

What’s next

That’s all for today’s blog on my payday edition. Next month will be an excellent investment month. Two months out of the year, I get a 3rd paycheck, and since I live on a two paycheck budget, it usually means the entire third paycheck minus a few expenses is left for investing. I have been doing great on my October goals, and I look forward to reporting my progress at the end of the month. 

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