October 4, 2014

September 2014 Income Statement


September was another very good income month, but we had a few last minute large expenses that blew the budget.
Our total income in September was $13,739.35. In addition to our regular paychecks, I received $2,049.71 PTO payout and last weeks pay.  My wife’s company paid her an $800 auto allowance and a $100 company reimbursement for internet service. We also received $95 from Verizon and a $30 for our daughter’s 529 Plan.  We earned $5.38 in interest income from our online savings account.

In September, we spent a total of $16,789.56!  Not something we expected the month I quit working.  Some of the larger, non-typical expenses include $6,366 for a new HVAC, $500 for a new laptop, and $310 for new brakes and rotors.
 am very interested to see if we can dramatically reduce our expenses in October.  My wife’s  net income each month is $6,300.28 plus an additional $900.00 for auto allowance and internet service.  So, $7,200 or less is the goal.

September 30, 2014

September 2014 Net Worth Update (-4,161.88)

In September, our net worth decreased $4,161.88, to a total of $292,966.29.
 

What Worked
I separated from my company on September 19th, in an effort to find a position that provides a better work/life balance. With my departure, I paid off the $4,757.76 balance of my 401(k) loan.  


What Didn’t Work
We contribution at total of $5,000.26 ($4,757.76 of which was a loan repayment) to our retirement accounts, but saw them decrease $28.54. Our savings account balance decreased due to pulling funds from the 401(k) loan repayment.
 

Next Month
Next month will be the first full month without a dual income for our household. We’ve run the numbers and know that we can make ends meet until I find a job, but October will be telling, to say the least.

September 2, 2014

August 2014 Income Statement

August was an awesome income month and we kept our expenses pretty well in line. (see attached spreadsheet).


Our total income in August was $18,070.88. In addition to my regular paychecks, my wife received $2,610.71 in disability, and a partial $3,006.96 paycheck after returning to work on the 18th. She also received a $13,050 gross ($8,009.69 net) quarterly bonus! My wife’s company paid her an $800 auto allowance and a $100 company reimbursement for internet service. We earned $4.50 in interest income from our online savings account. 


In August, we spent a total of $9,673.69. Some of the other larger, non-typical expenses include $200 new mobile phone for meand a larger than normal electricity bill of $525.25. In addition, our nanny’s weekly pay went from $300/week to $400/week as she began watching both of our children when my wife completed maternity leave. Our son also started preschool ($397/month).


September will be our last month with two incomes until I find a new job. I trust God has a great now position for me.

August 30, 2014

Already Passed our 2015 Net Worth Goal!

We passed our 2015 net worth goal of $296,000. Our net worth is currently $297,643.30 (I will be updating the chart to the left at the end of September).

This puts us over a year ahead of our planned goals:
2014 goal $241,900
2015 goal $296,000

It's time now to start making some headway on our 2016 net worth goal of $343,700! Feeling blessed!

August 28, 2014

August 2014 Net Worth Update (+12,455.81)

In August, our net worth increased a whopping $12,455.81, to a total of $297,128.17.

What Worked
My wife earned a $13,050.00 gross ($8,009.69 net) quarterly bonus. She is doing amazing in her career and it has been a huge blessing our family. With proceeds from the bonus, we significantly increased our savings account balance. We contribution at total of $1,210.38 to our retirement accounts and saw them increase $4,532.01.

What Didn’t Work
For the next few months, we will be making steady, but slow progress paying down our 0% credit card (current balance $3,474.85). Our taxable brokerage account continues to wallowing.

Next Month
I will be leaving my company on September 19th, hoping to find a new job that provides a better work/life balance. In the meantime, things will be a little tighter as we live on my wife’s income. Before departing my company, we will be paying off the remainder of the 401(k) loan (~$4,800) that we took out for our home down payment.

August 4, 2014

July 2014 Income Statement

July was a bit lower than normal income month (wife on disability), and our expenses were more than we brought.

Our total income in July was $8,745.67. In addition to my regular paychecks, my wife received $4,300.00 in SDI (disability). My wife’s company paid her an $800 auto allowance and a $100 company reimbursement for internet service. We earned $3.25 in interest income from our online savings account.

In July, we spent a total of $9,301.83. Some of the other larger, non-typical expenses include $600 vasectomy, $170 auto registration, and a larger than normal electricity bill of $496.55.

August will likely be a larger income month with my wife going back to work at the end of the month. She should also receive a quarterly bonus in August.


August 1, 2014

July 2014 Net Worth Update (-3,801.50)

In July, our net worth decreased $3,801.350, to a total of $284,672.36.

What Worked
Our daughter’s new 529 Plan had a $5.61 increase over last month

What Didn’t Work
We passed a net worth milestone of $290,000 in June, but dropped back well below $290K and have not yet recovered. We also added another hospital bill to the 0% credit card. We contribution at total of $818.88 (low because my wife is currently on disability) to our retirement accounts and saw them decrease $2,216.94. 

Next Month
September 19th will be my last month working at my current company. I have decided to take a break (hopefully short) to spend time with my family and then begin looking for a new job. So, we’ll try to get more money tucked away into savings in August to help get us through my period of unemployment.