February 27, 2014

February 2014 Net Worth Update (+28,622.68)

February was our best net worth increase month by a very large margin.  In February, our net worth increased $28,622.684, to a total of $274,030.38 (click on spreadsheet below).

What Worked
In February, my wife earned a $66,600.00 gross ($27,808.32 net) quarterly bonus!  This positively impacted every area of our balance sheet.  We contribution at total of $4,523.05 to our retirement accounts ($3,300 from her bonus) and saw them increase to $8,361.82.  We also contributed a total of $3,704.17 to her ESPP ($3,300 from her bonus), $1,150 to savings, $150 to our son’s 529 Plan, 10% of gross to our church tithe, and bought stock in our brokerage account.  In addition, we paid off our $12,098.89 auto loan.  Thanks to the huge blessing of my wife’s bonus, we passed three net worth milestones in one month (250K, 260K, & 270K)!  We're 108.79% of our 2014 net worth goal ($251,900).  Now, we'll shoot for hitting our 2015 net worth goal ($296,000) one year early.

What Didn’t Work

Next Month
March looks like it is shaping up to be a pretty standard month.

February 16, 2014

Net Worth Milestone: $270,000

We passed the net worth milestone of $270,000.  This comes right after passing $250,000 and $260,000 in one day!

Our net worth is currently $271,307.22.  I will update our chart on the left at the end of the month.

We shoul hit our next net worth milestone of $280,00 around May.

February 14, 2014

Net Worth Milestone $250K & $260K

Today we passed the $250,000 AND $260,000 net worth milestones!   The first time we passed two milestones in one day!  This was thanks to a $66,600 gross ($28,873.32 net) quarterly bonus that my wife earned.  Our net worth is currently $262,430.17.

We passed our last milestone of $240K in November. Based on my forecasts, we should hit the next net worth milestone of $270K by May.

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

February 4, 2014

January 2014 Income Statement

January was a standard income month, and a large expense (see attached spreadsheet).

Our total income in January was $9,465.41.  In addition to our regular paychecks, my wife received a $600 auto allowance, and a $100 company reimbursement for internet service.  We earned $0.15 in interest income from our online savings account.

In January, we spent a total of $11,537.47.  Not as much as last month, but more than we earnedL.  Some of the larger, non-typical expenses include $ 1,619.98 for new gun, $573.88 auto insurance (2 cars, 6 months), and $685 for term life insurance (for both of us).

February should be a huge income month as my wife should receive a $66,600 (gross) quarterly bonus!

February 3, 2014

January 2014 Net Worth Update (-49.54)

In January, our net worth decreased $49.54, to a total of $245,407.70 (click on spreadsheet below).

What Worked
In January, we began a 5% contribution to my wife’s 401(K) and 5% to her company ESPP.  We also began contributing $200/month to her H.S.A. account for our baby’s birth in May. 

What Didn’t Work
We contributed $1,223.05 to our retirement accounts and saw them decrease $772.93 to a total of $108,344.62.

Next Month
February should be a very good month, as my wife is expected to receive a large bonus.