Personal Finances – Beginning 2009

Starting this year, I will be keeping track of my finances online. I have been keeping track of them in a spreadsheet for a year and a half and I feel like sharing my financial visions with my readers. Hopefully it will shed some light on the inner workings of my mind when it comes to money.

I am keeping track of my passive income and its percentage of my monthly expenses as well. Passive income is money that is generated without working for it. In other words, your money is working for you, instead of you working for your money. My short term goal is to get my passive income to equal my monthly expenses.

This will be my journey toward escaping the rat race and achieving financial freedom. Here are my totals beginning on January 1st of this new year 2009.

$1,695.74 Total Income

$1,600.00 Monthly Pay
$2.19 Checking Account
$1.01 Savings Account
$6.80 Dividends ($20.40 / qtr.)
$85.74 Prosper Loans

$968.93 Total Expenses

$188.00 School Loans
$192.00 Car Payment
$100.00 Credit Card Payment
$100.00 Gas
$81.60 Cell Phone
$15.00 Entertainment
$171.00 Insurance
$32.97 Personal Loan
$88.00 Medical Bill

$726.81 Net Monthly Cash Flow
$95.74 Passive Income
9.88% Passive Income % of Expenses

$6,981.44 Total Assets

$656.45 Checking Account
$403.96 Savings
$33.45 Scottrade Account
$0.00 Prosper Account
$7.70 ChaCha Account
$2.98 Paypal Account
$37.31 OneSeason Account
$1,500.42 in Stock
$1,193.00 Loans to Friends
$2,045.07 Loans on Prosper

$27,743.73 Total Liabilities

$14,498.31 School Loans
$9, 794.55 Car Loan
$2,611.80 Credit Card
$839.07 Prosper Loan

Related posts:

1. Personal Finances – December 2009
2. Personal Finances – September 2009
3. Personal Finances – April 2009
4. Personal Finances – February 2009
5. Personal Finances – January 2009