July 3, 2014

June 2014 Income Statement

June was another great income month, but also a higher than normal expense month (see attached spreadsheet).

Our total income in June was $10,004.15 (my wife is on disability spending time with baby). In addition to my regular paychecks, my wife received $4,914.29 in SDI (disability). She also received $360 due to a mistake on her last paycheck and $284.43 in extra disability from her company (above and beyond state disability). My wife’s company paid her an $800 auto allowance and a $100 company reimbursement for internet service. We earned $3.01 in interest income from our online savings account.

In June, we spent a total of $14,283.65. Some of the other larger, non-typical expenses include $5,560.54 for our portion of the c-section birth of our daughter and $245.32 in gifts.

July will likely be a low income month with my wife on disability.









July 1, 2014

June 2014 Net Worth Update (+6,677.26)

In June, our net worth increased $6,677.26, to a total of $288,473.86 (click on spreadsheet below).

What Worked
We contribution at total of $818.88 (low because my wife is currently on disability) to our retirement accounts and saw them increase $4,895.26. We also contributed $3100 to our daughter’s 529 Plan.

What Didn’t Work
We passed a net worth milestone of $290,000 in June, but backslide a little after placing $2,276.09 in charges from our daughter’s birth onto a 0% credit card. We also dipped into our savings a bit to cover a portion of the money used to open a 529 Plan for our daughter. 

Next Month
July may be a low income month (wife on disability) and, as a result, a low net worth increase month. 

June 28, 2014

Net Worth Milestone: $290,000

We passed the net worth milestone of $290,000. We passed our last net worth milestone of $280,000 in May (last month).

Our net worth is currently $290,155. I will update our chart on the left at the end of the month.

We should hit our next net worth milestone of $300,000 by October.

June 3, 2014

May 2014 Income Statement

May was another great income month and a higher than normal expense month (see attached spreadsheet).

Our total income in May was $17,802.05. In addition to our regular paychecks, my wife earned a $13,140.00 gross ($7,080.03 net) quarterly bonus and received annual wellness check $1,000.00 gross ($985.45 net).  She also received an $800 auto allowance and a $100 company reimbursement for internet service.  We sold a video game system for $100 and earned $2.77 in interest income from our online savings account.

In May, we spent a total of $10,680.52.  Some of the other larger, non-typical expenses include $1,695 cord blood banking for daughter and $400 for tax on old bonus credit card.

June will be interesting.  My wife had our baby at the end of May and will be on disability for 3 months.  The weekly disability checks should be ~$1,075.  As a result, we’ll have to limit our spending a bit.


June 1, 2014

May 2014 Net Worth Update (+6,563.66)


In May, our net worth increased $6,563.66 to a total of $281,796.60 (click on spreadsheet below).
 
What Worked
Our second child was born this month!  She is a happy and healthy little girl.  We feel so blessed!  In addition to popping out a baby, my wife received a $13,140.00 gross ($7,080.03 net) quarterly bonus!  We contribution at total of $1,016.16 to our retirement accounts and saw them increase $3,813.59.  We also contributed $150 to our son’s 529 Plan and bolstered our savings a bit.

What Didn’t Work
Our taxable brokerage accounts dipped down a bit.

Next Month
My wife will be on disability for 3 months to spend time with our baby.  Disability pays ~$1,075/week, so we will need to reduce our expenses.
 

May 24, 2014

Net Worth Milestone: $280,000

We passed the net worth milestone of $280,000.  We passed our last net worth milestone of $270,000 in February.

Our net worth is currently $280,108.56.  I will update our chart on the left at the end of the month.

We should hit our next net worth milestone of $290,000 around September.

May 3, 2014

April 2014 Income Statement



April was great income month and a higher than normal expense month (see attached spreadsheet).

Our total income in April was $14,208.22. In addition to our regular paychecks, I received a third “extra” paycheck and my wife received a $600 auto allowance and a $100 company reimbursement for internet service.  We also received $1,902 Federal tax refund, $540 State tax refund, $120 in gifts and earned $3.77 in interest income from our online savings account.

In April, we spent a total of $10,107.32.  Some of the other larger, non-typical expenses include $300 for a tax accountant, $156 wife’s hair, $531.98 dinning, and $1,703.35 in household items.

May should be a good month for us to get ahead.  My wife receives her quarterly bonus and a annual “wellness” bonus.  Plus our daughter will be born!