To get a full background on this journey, please see part 1.
In short, I need to cash flow nearly $40,000 of expenses in addition to paying off my living expenses and my outstanding debt.
I have four main categories of things I am paying for this year.
2022 SET IN STONE EXPENSES
Expense 1 – $8,000
I have paid off all of this, but, I wish I had done things differently regarding this purchase. However, I am overall in a better headspace and understand what led to these decisions.
Expense 2 – $22,300
I have $7,800 left to pay on this. I am incredibly proud of my progress on this and aim to have this paid off before my 31st birthday. This balance is on a 0% interest credit card so I technically have until August 2023 as my hard deadline.
POTENTIALLY VARIABLE EXPENSES
Expense 3 – $3,860
In total, I ended up spending $4,206.35 and I am still mad.
Expense 4 – $5,000
In the end, I spent $3,516.56 in this category. My budget for 2023 is much much much lower. I was in two weddings this year, which added to my overall costs. For 2023, I will only be participating as a guest in 3 upcoming weddings.
THOUGHTS THUS FAR
I am spending way above my ideal FIRE number. My goal was 2023 is to keep all my spending to $3,000 a month. I am also considering getting back into YouTube to help keep me accountable.
2023 will be year 2 of my (hopefully) 10 year journey to Financial Freedom.