April 2, 2014

March 2014 Income Statement

March was a standard income month and a high expense month (see attached spreadsheet).

Our total income in March was $9,938.22.  My wife canceled her monthly ESPP contribution so her take home increased $401.18.  In addition to our regular paychecks, my wife received a $600 auto allowance and a $100 company reimbursement for internet service.  We also received $73.73 in credit card cash back rewards and earned $3.41 in interest income from our online savings account.

In March, we spent a total of $10,105.71.  Some of the other larger, non-typical expenses include $313.95 for a speeding ticket and $125.00 for our son’s preschool registration.

April will be interesting.  I receive a third “extra” paycheck and we meet with our tax accountant to do our income taxes.

April 1, 2014

2014 Net Worth Update (+2,728.93)

March was a good net worth increase month.  In March, our net worth increased $2,728.93, to a total of $276,759.31 (click on spreadsheet below).

What Worked
We contribution at total of $1,223.05 to our retirement accounts and saw them increase $1,953.11.  We also contributed $150 to our son’s 529 Plan and $750 to savings.  We also closed my wife’s ESPP and moved the money into savings. 
 
What Didn’t Work
Our relatively new taxable brokerage account investment declined considerably.


Next Month
April should be a better than normal income month because I receive a third “extra” paycheck.
 
 

March 4, 2014

February 2014 Income Statement

February was a record breaking income month for us and a pretty reasonable expense month (see attached spreadsheet).

Our total income in February was $37,327.14.  This blew away our previous best income month of $25,449.19 in December 2011.  In addition to our regular paychecks, my wife received a $66,600 gross ($27,808.32 net) quarterly bonus.  She also received a $600 auto allowance, and a $100 company reimbursement for internet service.  We earned $1.52 in interest income from our online savings account.

In February, we spent a total of $28,200.31.  At first glance this seems insanely high, but $12,120.90 was for paying off our auto loan and $7,950.00 was church tithe.  Subtract those two items out and our expenses totaled a much more reasonable $8,129.41.  Some of the other larger, non-typical expenses include $161.00 for wife’s hair, $199 for massages, and $300 to paint our baby’s room.

March should be a standard income and expense month.



February 27, 2014

February 2014 Net Worth Update (+28,622.68)


February was our best net worth increase month by a very large margin.  In February, our net worth increased $28,622.684, to a total of $274,030.38 (click on spreadsheet below).

What Worked
In February, my wife earned a $66,600.00 gross ($27,808.32 net) quarterly bonus!  This positively impacted every area of our balance sheet.  We contribution at total of $4,523.05 to our retirement accounts ($3,300 from her bonus) and saw them increase to $8,361.82.  We also contributed a total of $3,704.17 to her ESPP ($3,300 from her bonus), $1,150 to savings, $150 to our son’s 529 Plan, 10% of gross to our church tithe, and bought stock in our brokerage account.  In addition, we paid off our $12,098.89 auto loan.  Thanks to the huge blessing of my wife’s bonus, we passed three net worth milestones in one month (250K, 260K, & 270K)!  We're 108.79% of our 2014 net worth goal ($251,900).  Now, we'll shoot for hitting our 2015 net worth goal ($296,000) one year early.

What Didn’t Work
N/A

Next Month
March looks like it is shaping up to be a pretty standard month.

February 16, 2014

Net Worth Milestone: $270,000

We passed the net worth milestone of $270,000.  This comes right after passing $250,000 and $260,000 in one day!

Our net worth is currently $271,307.22.  I will update our chart on the left at the end of the month.

We shoul hit our next net worth milestone of $280,00 around May.

February 14, 2014

Net Worth Milestone $250K & $260K

Today we passed the $250,000 AND $260,000 net worth milestones!   The first time we passed two milestones in one day!  This was thanks to a $66,600 gross ($28,873.32 net) quarterly bonus that my wife earned.  Our net worth is currently $262,430.17.

We passed our last milestone of $240K in November. Based on my forecasts, we should hit the next net worth milestone of $270K by May.

I will update our net worth meter (on the left side of the screen) at the end of the month.


February 4, 2014

January 2014 Income Statement

January was a standard income month, and a large expense (see attached spreadsheet).

Our total income in January was $9,465.41.  In addition to our regular paychecks, my wife received a $600 auto allowance, and a $100 company reimbursement for internet service.  We earned $0.15 in interest income from our online savings account.

In January, we spent a total of $11,537.47.  Not as much as last month, but more than we earnedL.  Some of the larger, non-typical expenses include $ 1,619.98 for new gun, $573.88 auto insurance (2 cars, 6 months), and $685 for term life insurance (for both of us).

February should be a huge income month as my wife should receive a $66,600 (gross) quarterly bonus!