Net Worth & Expenses…

I did some preliminary calculations/forecasting this morning and it looks like I am going to have a very slight improvement in my net worth for the month. I am very excited. Moving to an all cash/debit system is working well for me and while I still have a long way to go with controlling my spending, I’ve already witnessed an improvement in my behavior.

Cash flow improvements. Now that I am finished with law school, I am able to commute to work by train. Driving into downtown Chicago and parking is very expensive. The savings by taking the train is tremendous plus I don’t have to deal with traffic and crazy drivers. I live less than 2 miles from the train station so it takes less than 5 minutes to get there. The monthly train pass has increased over the last 4 years but it is still much more reasonable at $117 plus another $20 to park in the parking lot. I don’t drive as much so now I find that I only have to fill up every other week to the tune of approximately $80-90 a month.

Before (Average):
Parking - $12/day at 4 times a week = $192 per month
Gas - $45/week = $180 per month
Taxi - $10/day at 4 times a week = $160 per month
Grand Total = $532

Now (Average):
Train Pass - $117 per month
Parking - $20 per month
Gas - $90 per month
Grand Total = $227

Difference = $305

**** In addition, now that I get home at a reasonable time, my mother includes me in their dinner plans so I usually don’t have to make or buy dinner. This is also savings me a lot of money because when I was in school, I usually bought breakfast, lunch and dinner.