Due to heavy, heavy spending in January, our net worth dropped $4,962.60 from last month, to a total of $159,859.10 (click on spreadsheet below).
We have a another asset on our balance sheet - our new home! Moving is always exhausting, but we are finally getting settled in. Beyond the home, we contributed $220 to our son’s 529 Plan thanks to gifts from our parents and aunts. We contributed a total of $1,280.42 our retirement accounts, and saw them increase $3,940.79 to $45,885.49 total. My wife’s company contributed $1,256.63 in company match and profit sharing to her 401(k). I did not include them in the balance sheet because the vesting is 3 years and 6 years, respectively.
What Didn’t Work
Money flew out of our saving faster in January than any time before. Beyond the $97,800 down payment that we put on our new home, we also spent ~$15,000 on furniture and items for the house.
It was fun splurging, but now we need to tone it back down. For the next couple of months, our expenses will continue to be higher than normal as we buy things for the house, but January was the BIG spending month.