Is Netflix Worth the Expense? Plus My January 2017 Financial Update with Net Worth

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My January 2017 Financial Update with Net WorthHappy February and welcome to my January financial update!

So far February isn’t treating me very well.  I seem to have caught the bug that is going around at work.  It’s early yet, but I really hope I don’t need to miss work because of it.  I hate calling in sick!

January would have been an impressive month as far as low expenses go, however, my car and renter’s insurance were due last month and I always pay in full.  So that added an extra $385 to my expenses.  Doh!

Oh well.  I still had a pretty good month!

Should I cut Netflix from my life?

One expense that I’ve been thinking about getting rid of is Netflix.  I have the one-disc-out-at-a-time plan.  I really like Netflix and I think it’s a good way to go if you watch and return the movie in a reasonable amount of time.  However, if you’re like Mr. Frugal Turtle and I, sometimes it’s a few weeks or a month before we get around to watching the movie together.

Basically, sometimes it feels like we’re paying $8.54 to rent one movie. Which is way too much.

Most of the time we are pretty good at watching the movie and getting it in the mail pretty quickly.  But the weekends where one or both of us is working, it doesn’t get watched.

We work a lot of weekends, especially in the spring, summer and fall months.  Plus, I work on the day-shift and Mr. Frugal Turtle works the night-shift.

Yes, we could watch the movie separately, but we enjoy watching them together.

And Mr. Frugal Turtle pays for the streaming plan, which, let’s be honest, doesn’t always have the best movies to pick from.  That’s why we still have a disc plan.

I need to ponder this more.  It might be time for me to cut this monthly expense and visit the library’s DVD section more often.

on to the numbers!

January Net Worth

I ended January with a net worth of $109,976.97.  Would it be reasonable to have hopes of achieving $150k by the end of this year?  That’s the number that would really make me happy on December 31st.

My net worth includes my retirement accounts and my regular savings account.

January Savings

I was able to put $1,919.60 towards retirement in January.  $1,384.60 went in my 401k and $535 went in my IRA for 2017.  With working fewer hours now and not a lot of overtime, it’s probably going to take me longer to max out my IRA for the year.  The past couple of years I’ve had it maxed out in May.  I’m curious when I’ll get there this year.

January Income

I took home $2,971.70 in January.  I include the amount that goes in the 401k in this total.

My full-time job is my only source of income.

January Expenses
Item
Cost
Rent $400
Gift $13
Netflix $8.54
Health Insurance $182.52
Car Insurance $309.50
Groceries $136.73
Gas and a Car Wash $72.56
Cat Food $29.79
Cell phone $38.41
Renters Insurance $75.40

My expenses in January totaled $1,266.45.  $1,200 a month in expenses seems to be about my average.  I just need to keep it that low.  With early retirement still a long ways away, I need to watch out for lifestyle creep!

The great thing about my expenses is that I feel like I have everything I want.  I don’t need to buy random, useless junk that’s just going to clutter the house.

My satisfaction comes from watching my investments grow…and grow…and grow!

Is Netflix Worth the Expense? Plus My January 2017 Financial Update with Net WorthLooking Ahead

It’s Mr. Frugal Turtle’s birthday this month!  We plan on celebrating by going out to dinner at a Mexican Restaurant that gives a free meal on birthdays.

On Valentine’s Day we will probably both be working, unfortunately.  I’ll see him in the morning for a couple of hours before I go to work.  Working opposite shifts will make it impossible to really enjoy the day together. We’ll probably recognize the holiday on the weekend instead.

We keep talking about taking a vacation to somewhere tropical this year, but no plans have been set.  Maybe this month we’ll finally get something figured out.

How did you do in January?  Do you have any frugal vacations planned for 2017?

 

 

10 thoughts on “Is Netflix Worth the Expense? Plus My January 2017 Financial Update with Net Worth”

  1. First time on your blog. Thanks for adding me on Twitter. I’m enjoying your posts!

    Netflix streaming only is what we use. It seems to work fairly well. Plus, the local library has quite a nice list of movies that sometimes aren’t on the stream. We just rented Casablanca! It was great!

    I’m only just starting out on the FIRE journey, so I’m impressed with how well you all are doing. Congrats!

    1. I’m a little ashamed of myself for admitting this, but I’ve never watched Casablanca! It’s a classic, and I like those movies, but for some reason I have yet to see it.

      I’m always on the lookout for fellow FIRE people to connect with. Helps keep me motivated! Good luck on your journey!

  2. I love how low you keep your expenses! That looks similar to what mine were a few years ago but unfortunately I have succumbed to a bit of lifestyle inflation. Good luck on all of your goals!

    1. Thanks! The funny thing about my expenses is that I always want them to be lower! I’m working on slashing my grocery expenses this year. My goal this year is only buying items that are on my shopping list and meal planning based on what’s on sale.

      Thanks for the comment!

  3. Cancel Neflix. Then when you want to watch a movie re-up for just one month then cancel when finished. We usually just pay for a month, watch a bunch (streaming) then promptly cancel.

    1. Yeah, I think I’m going to cancel it when summer rolls around. We’re too busy working, or sitting around a campfire on the days we have off together. If I miss it too much, I’ll just subscribe again.

      Thanks for the comment!

  4. I really enjoy checking things out from my local library. You could probably do without the one disc a month plan and instead get a movie (on purpose, when you know you’ll watch it) from RedBox. Those are like $1.29 a day or something (they’ve gone up recently). As long as you watch it within the week, you’ll be saving money! And if you’re intentional about it, you’ll only spend $1-3.

    1. I really need to remind myself to start going to the library after work. It just slips my mind completely. Thanks for the reminder. I need to look into Redbox a little more to. There’s one down the road from my employer so it wouldn’t be that hard to rent/return movies.

      Thanks for the comment!

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