February 2013 Income Statement

February was an okay income month, all things considered (wife unemployed), but we weren’t able to keep our expenses as low as we would have liked (see attached spreadsheet).

Our income totaled $7,716.98 in February.  In addition to my regular paychecks this month, my wife received $1,800 unemployment.  We also received a $2,154.27 refund check from our mortgage prepaid & escrow, $96.78 in credit card cash back rewards, and we earned $8.10 in interest income from our online savings account.

In February, we spent a total of $7,599.12.  Most were standard expenses, but one larger non-standard expenses was $195 for my wife’s hair and nails (interviewing expense).

Next month we should receive a $200 electricity rebate for our new pool pump.

Net Worth Milestone - $220,000

Today we passed the $220,000 net worth milestone! Our net worth is currently $220,270.39.

We passed our last milestone of $210K in December. Based on my forecasts, we should hit the next net worth milestone of $220K by July.

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

February 2013 Net Worth Update (+1,730.39)

We’re blessed that forward progress continues, even with my wife unemployed.  Our net worth increased $1,730.39 from last month, to a total of $219,680.10 (click on spreadsheet below).

What Worked
We contributed a total of $818.88 to our retirement accounts and saw them increase $2,854.42 to $85,490.63 total.  That large increase was primarily due to an unexpected $2,061.48 distribution to wife's Traditional IRA from old 401(k) plan.  We also continue to pay our car payment as early as possible so that more is applied to principle.

What Didn’t Work
N/A

Next Month
My wife has been interviewing a lot, so we may see a new job on the horizon.