February was another month of heavy spending, resulting in a drop in our net worth of $1,556.74 from last month, to a total of $158,302.36 (click on spreadsheet below).
What Worked
We contributed a total of $1,434.26 our retirement accounts, and saw them increase $3,061.88 to $48,947.37 total. Our savings account also increased from $1,830.39 to $2,608.15. Our first mortgage payment went through reducing our mortgage debt by $589.21.
CORRECTION: Our first mortgage payment was for our March bill and should not have been included in our February numbers. I will correct the spreadsheet before posting our March Net Worth Update.
What Didn’t Work
In February, we did something we haven’t done in a LONG time: we went into credit card debt. We ended the month owing $7,065.02 to a zero percent interest card (0% for 15 months) to buy more furniture/house stuff. We have roughly $3,000 more in furniture/house stuff that we need to buy and then we’re done. I promise.
Next Month
March will get us one step closer to getting back on track, but we’ll still be spending more than saving.
7 comments:
How do you value your cars? Do you use Kelly Blue Book value or something else? I typically don't include my car in my net worth calucation, although it is 7 1/2 years old.
Anonymous,
I check KBB once a year and then depreciate the vehicle 1% per month. Since we used cash from savings to pay it off, I wanted to track it on our balance sheet.
-1Mansmoney
You need to fix what ever is going wrong in your change column. Your Assets are not 386237.40+ for the month. I know you wish it!
What tv's did you buy? Did you cancel your GYM membership?
How are those sleepless nights?
Anonymous,
Great catch. I obviously rushed our net worth post a little too much this time around. I appreciate the feedback and will fix the sheet for next month.
We bought a 60" Sharp Aquos LED (amazing TV BTW) and a 42" LG LCD. Yes, I cancelled my gym membership, but we made a room in our new home to a gym.
Thankfully, our baby is sleeping though the night now. That's not to say that we're not totally exhausted most of the time:)
-1Mansmoney
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