Monthly Update – January 2017 (First Update)

This is our first monthly update.  Honestly, we are little intimidated to share but are looking forward to keeping everything out in the open – hopefully it keeps us on track and helps us grind through the rest of the year.

Income –

  • Mr. MMC takehome pay $6,686.67
  • Mrs. MMC takehome pay $3,601.89
  • Dividend Income $375.53
  • Poshmark $220.30

Total Income January 2017 $10,884.39

Expenses/Spending –

This includes rent, groceries, dining out, a vacation we recently booked (Austin, TX trip coming up!), shopping, and amusement (date nights, concerts, dinners)

Total Expenses/Spending $4,452.00

Wow!  We spent over $4K in January.  Seeing that number on the screen really makes you question yourself over the month.  Was that dinner out really worth it?  Could we have done without that new pair of jeans?  We will try to improve for sure, but looking at the numbers above, we were still able to save almost 60% of our take home pay.  We can’t beat ourselves up too much.

Our assets (savings, checking, taxable investments, Roth IRA’s, DSPPs, 401K, 457) ended the month with a balance of $307,022.07 while our liabilities (credit cards) ended the month with a balance of $467.98 (we pay our credit cards off weekly and carry no other debt).  Our net worth for January 2017 ended up at $306,554.09.  This is up from $293, 511.53 in December 2016.

We hope to get a little more detailed especially when it comes to our spending but it looks like we had a pretty good January.  Thanks for reading!

COP Dividend Increase

On 1/31/17 ConocoPhillips (COP) declared an increase in the quarterly dividend of $0.265 per share.  This is an increase from $0.25 per share for a 6% increase!

We own 61.94 shares of COP (Mr. MMC’s Roth IRA and our Computershare account) so this adds $3.7164 per year in dividends and increases our yearly projected dividend income to a new total of $5,808.08.

This is a bitter sweet raise – many remember the cut from $0.75 a share to $0.25 a share last year.  Good to get a raise but I still remember that sting last year…