April Net Worth Update (+$2,859.25)

April was a pretty typical month, in a good way. Our net worth increased $2,859.25 from last month, to a total of $90,915.70 (click on spreadsheet below).

What Worked
My wife began her new job mid month. She also received her 2 week severance check from her old job. We contributed a total of $792.70 to our retirement accounts (401k’s and Roth IRA’s) and saw them increase $3,019.25! Wife's 401(k) acct closed and transferred to IRA.

What Didn’t Work
As expected, we had a little catching up to do this month after paying $12,000 cash for our new (used) 4x4 last month and buying misc items for it.

Next Month
In addition to May being my wife’s first full month at her new job, my company informed us that they will be increasing our salaries back to the full amount beginning my first paycheck in May.

Salary Back To Even

Great news! My company announced today that they are returning us to our full salaries.

In February 2009, everyone in the company received a salary reduction to help us get through the tough economic times - my salary redution was 10%. My company has been slowly increasing our salaries in an effort to get us back to even. This last 2.5% increase represents $1,750/year and returns me to my annual salary of 70,460.

I feel very blessed to have kept my job while others in my company were let go. Hopefully the economy keeps getting stronger.

Wife's Great New Benefits

My wife started her new job today and it's going great so far. She'll be spending most of her time the next couple of months on home study, but is excited to get out in the field.

Check out some of her benefits:

* $0/month out of our pocket for health and vision insurance for both of us
* Complete home office (laptop, printer, etc.)
* Reimbursing for internet and cell phone service
* Company car / gas card

I'm so proud of how she is doing in her career. She keeps upgrading from one great job to another.

Net Worth Milestone - $90,000

We just passed the net worth milestone of $90,000. We hit our last net worth milestone, $80,000, just one month ago.

God willing, it looks like we'll hit a net worth milestone of $100,000 in July. That's a big milestone and would mean we're way ahead of schedule of making our 2010 net worth goal of $105,700 in December.

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

March 2010 Income Statement

As I stated in our Net Worth Update, March was a crazy month.

My wife was laid off mid month, but we still had a good income month. My wife received one final pay check, her company cashed out her vacation ($733.52), and will be giving two weeks of severance ($1,300+). We also received a $4,111 tax refund ($3,730 fed & $381 state) and sold 20 shares of BofA stock for small $48 gain. My wife received a $110 company reimbursement for internet and phone service, we earned $25 in credit card cash back rewards, and earned $2.30 in interest income.

Our expenses this month were off the chart, primariliy because with paid cash for a 3rd vehicle (4x4). Our expenses totaled $18,391.59, but if you pull out the $12,250 we paid for the 4x4, our expenses were $6,141.59. Still a bit high, but not so outrageous.

With the purchase of our 4x4, and my wife being out of work part of the month, we’ll be playing a little catch up in April.

Offer Letter

My wife just received her offer letter and it’s a good one.

They offered her a $60,000 base, $4,500 more than her last job. Also included in the offer is a bonus structure for up to 25% of her base pay. She also gets a company car and a complete home office.

That is WAY more than I made when I was 26 years old. Come to think of it, with her bonus and company car, it’s more than I make now. Good thing I’m man enough to admit it.