My First Crack At Financial Independence

I get paid on the 15th of every month but this month was "lucky" as the 15th landed on a Sunday so I was paid the previous Friday (the 13th!).  Wahoo for the days of the week.  This will be my very first paycheck as a debt free human (seems strange to say that) and I'd like to get off on the right foot following my goals I set out for myself (see previous post about my goals for 2012).

Because I get paid in yen and this blog is about living in Japan frugally I'll post everything in JYP with the equivalent amount in USD in (   ).  I'm using the currency converter at coinmill.com for my calculations.

Let's get to it.

Paycheck after taxes:  JPY 312,088 (USD 4,062)

One of the things I was really excited to do after reading "Rich Dad, Poor Dad" was to start paying myself first.  This is the practice of paying yourself before you pay anything else.  Even if it's rent or the electricity company is threatening to turn off my electricity I'm going to pay myself first from now on.  One of my goals of 2012 is to save 65% of my paycheck for investment and building up an emergency fund.  More specifically 10% savings, USD 230 to help pay for a house, and the rest for investment.  So how does it break down?

Savings:  JPY 31,200 (USD 406)
House:  JPY 17,670  (USD 230)
Investing:  JPY 153,987  (USD  2004)
(Adding together the "House" and "Investing" columns I sent back to America JPY171,600 or USD 2234)

Bills
Rent:  JPY 50,100  (USD 652)
Gas:  JPY 2,116  (USD 27.50)
Electric:  JPY 1,207  (USD 15.71)
Water:  JPY 2,982  (USD 19.41)
Internet:  JPY 1,999  (USD 26.02)
Credit Card:  JPY 20,177  (USD 262.62)

My bills except for my credit card are split between me and my girlfriend.  Also I do have a cellphone but it gets automatically charged to my credit card.  It's about JPY 8,000 a month or around USD 105.

So what does that leave me afterwards for food and me?  I think I'm finding it actually leaves a lot of room to save!  Adding up all my savings, investment spending, and bills totals JPY 281,438 (USD 3663) leaving me with JPY 30,650 (USD 399).  This might seem like a lot but it goes pretty quick in Yokohama.  I try to budget myself only JPY 1,000 a day (USD 13) and go many days without spending even a single cent.  However I have to pay for transportation to Japanese class, drinking with friends, various teacher drinking parties, and so on.  It can go very quickly.  I need to get better at planning and vocalizing to my friends they need to let me know well ahead of time when we are drinking and hanging out.

There are still places in my bills I can save some serious cash (the cellphone) as well.

How are you spending your money?