April 2013 Net Worth Update (-649.10)

Our net worth dropped for the first time since over 1 year ago (February 2012).  Our net worth decreased $649.10 from last month, to a total of $220,560.02 (click on spreadsheet below).

What Worked
We contributed a total of $818.88 to our retirement accounts and saw them increase $2,163.26 to $90,057.37 total.  My wife quit her new job after being stolen back by her old company for the same salary ($83,000).  What made her go back was confidence in selling the product (she made $28K in bonuses last year), a 410K with 6% company match, and an opportunity to further her career by selling another product.

What Didn’t Work
We took a good chuck of money out of savings to pay for a new fence and some bills.

Next Month
May should be a good month for us to get caught back up.  My wife and I both receive 3 paychecks in May.

March 2013 Income Statement

March was a pretty low income month because my wife was still searching for a job.  We were, however, able to lower our standard expenses a bit (see attached spreadsheet), but were hit hard with income taxes.

Our total income in March was $5,478.50.  In addition to my regular paychecks this month, my wife received $1,800 unemployment.  We also received $25.00 in credit card cash back rewards and we earned $6.30 in interest income from our online savings account.

In March, we spent a total of $7,837.81.  This included a couple of large tax hits: $1,121 state income taxes, $226 federal income taxes, and $300 to our tax accountant.

In April, my wife begins her new job, so we should have an influx of cash, which is good because we have a $1,058.06 in supplemental tax bill coming up.

March 2013 Net Worth Update (+1,529.02)

Another good net worth increase month considering my wife is unemployed.  Our net worth increased $1,529.02 from last month, to a total of $221,209.12 (click on spreadsheet below).

What Worked

We contributed a total of $818.88 to our retirement accounts and saw them increase $2,403.48 to $87,894.11 total.  Thanks to using Upromise.com to book my business travel, we’re slowly increasing my son’s college savings.  In late breaking news, my wife has just accepted a new job paying $83,000 a year with great benefits, such as a company car.

What Didn’t Work
We had to pay $226 in Federal income taxes and $1,121 in State income taxes.  As a result, we had to dip into savings a bit.

Next Month
My wife begins a new job April 8th!!!  We have a number of bills coming due in April, so it will be a tight month.