December 30, 2010

December 2010 Net Worth Update (+$7,007.82)

It’s hard to believe the end of 2010 is already here. We ended the year on a strong note, increasing our net worth $7,007.82 from last month, to a total of $115,300.07 (click on spreadsheet below).

What Worked
We passed our 2010 net worth goal of $105,700 last month, so December gave us an opportunity to make terrific headway on our 2011 net worth goal of $138,100. In December, we contributed $1,219.50 to our retirement accounts and saw them increase $5,437.42 to $83,594.59. We also increased our savings account balance by a $1,715.00 to a total of $9,215.82.

What Didn’t Work
We spent a ton of money this month, but I’ll get into that when I do our December income statement post in a couple of days.

Next Month
In the next few days, we’ll be reviewing our 2010 financial goals and posting our 2011 financial goals.

December 2, 2010

Net Worth Milestone - $110,000

We just passed the $110,000 net worth milestone! Yippee! I will update our net worth meter (on the left side of the screen) at the end of the month.

We passed our last milestone of $100K, in October. Based on my forecasts, we should hit the next net worth milestone of $120K around April.

December 1, 2010

November 2010 Income Statement

We were doing so well being fugal most of November, but we broke the bank the last couple days of the month. Thankfully, we had a nice income month to support our overspending.

In addition to our paychecks, my wife received her Q3 bonus of $1,680 gross ($941.14 net)! She is doing amazing. We also received a $75 reimbursement from her company for internet and cell phone, $275 from selling our old tires, $100 gift from my parents, a $25 HSBC credit card reward, a $50 Chase credit card reward, and another $40 Chase credit card reward.

We spent $6,689.43 total in November, but here are my excuses: we bought new tires for both of our vehicles (one set was a “gift” to me) and completed most of our Christmas shopping. We also bought a new camera, a new suit for me, new shoes for the wife, etc. etc. Okay, Black Friday kicked our butts.

I’m so happy Christmas is almost here. God willing, will pass the net worth milestone of $110,000. I will receive an “extra” 3rd check in December and my wife should get another bonus of ~$500 gross. However, the spending will continue a bit more because we plan to buy a nice piece of jewelry for my wife as a combination Christmas/birthday/5 year anniversary gift.