We still haven’t combined finances as yet, but we ARE getting closer ;)
It’s just really hard to break this 28 years of personal finance! Now that i’ve finally got my gameplan up and running, the thought of revising it all gives me a touch of the heebie jeebies. haha….
BUT, as Obama likes to say, “It’s time for a change!” That, and i love my wife ;) So right now the goal is to combine forces by the end of the month, or at least start tracking the pot as “ours” and not “mine”. But don’t hold me to it, gotta take those baby steps one at a time.
In other news, we spent a bit more this month on sprucing up the house a little, and we now have an extra car – all things that make the budget cringe. Luckily it’s become a bit flexible w/ the interest rates still being low and all, so we’ve been saving and cutting corners where we can to make up for these changes.
Here’s how it breaks down this month:
CASH SAVINGS: Yeah, we’ve been spending a bit this month. But most of it has been going towards our house, which i like to clarify to make myself feel better ;) This includes things like saws and fix’er uppers when i was Mr. HandyMan, painting supplies (our newest house adventure), car stuff to get my highlander ready for sale, and a bunch of other things i can’t remember…as always.
ROTH IRA: A whole ONE DOLLAR and FIFTY-THREE cents increase! All for doing nothing…now that’s the good life!
401(k): Blah. Although it looks like i did well this month, I really didn’t considering I contributed $3,895.00 + got another $258.14 in dividends. Losing $1,503.12 sucks, but I guess i can pat myself on the back for at least putting in so much. A big part of that was when i sucked it up and confronted my boss about my missing 401k from last year – that helped a shite load!
SAVINGS BONDS: I’ll put that change in my pocket any day! haha…yikes.
CONDO INVESTMENT: That was the last of the loaning! My brother is now on his feet, and should be paying it back shortly. I guess this should really be in the “liability” section since I haven’t actually SEEN the money yet, but i’m too lazy to change it now…plus i’m 100% sure i’ll get it back, I gotta trust the bro!
HOME EQUITY: Same old, same old. Nothing paid off this month as we keep building our emergency fund up. Once we hit our goal of $10k total, we’ll revisit paying some off each month, but i don’t foresee that anytime in the near future since grad school is coming up for the Mrs.
AUTOS WORTH (kbb): This used to be just for my SUV (valued at $19,945 now), but now it also includes my new Caddy (valued at $3,590). So although this category gained in value, be sure to look 2 categories down for an increase in liabilities now.
CREDIT CARDS: While I technically have a nice chunk on there again, my actual c/c purchases are still at ZERO! That’s because I’m using my personal credit card as a car loan :) It surprisingly beat out all other rates at 3.4% (because USAA rocks), and since I don’t plan on keeping the balance on it for too long, it made logistic and financial sense for me. Now i just gotta sell my damn SUV.
AUTO LOAN: This is what’s left on my SUV. I paid off $300 plus, but it also dropped in value about that much so it’s basically a wash this month.
That about wraps it up this month. Here’s to another beautiful month! May all your financial dreams come true, and all your net worths flourish.
*I have updated my sweeet & sassy side bars – always a good time.
*And here are the past Net Worth updates.
PS: If you’re just getting started in your journey, here are a few good resources to help track your money. Doesn’t matter which route you go, just that it ends up sticking!
- The "Budget/Net Worth" spreadsheet - the colorful Excel template I personally use.
- The "Money Snapshot" spreadsheet - a simple Excel template I created for my former $$$ clients
If you're not a spreadsheet guy like me and prefer something more automated (which is fine, whatever gets you to take action!), you can try your hand with a free Personal Capital account instead.
Personal Capital is a cool tool that connects with your bank & investment accounts to give you an automated way to track your net worth. You'll get a crystal clear picture of how your spending and investments affect your financial goals (early retirement?), and it's super easy to use.
It only takes a couple minutes to set up and you can grab your free account here. They also do a lot of other cool stuff as well which my early retired friend Justin covers in our full review of Personal Capital - check it out here: Why I Use Personal Capital Almost Every Single Day.
(There's also Mint.com too btw which is also free and automated, but its more focused on day-to-day budgeting rather than long-term net worth building)