October 2014 Net Worth Update (-6,226.76)

The first month of me not working was a tough one financially. In October, our net worth decreased $6,226.76, to a total of $286,529.53 (see table below).

What Worked
We saw small gains in our IRA’s, savings, and 529 Plans.

What Didn’t Work
We contribution at total of $242.50 to our retirement accounts, but saw them decrease $566.41. Our 0% credit card balance increased due to purchasing a new HVAC system.

Next Month
November should go a little better because my wife will earn a quarterly bonus of ~$12K gross. We plan to use the proceeds to pay down our 0% credit card debt from the HVAC system.

Assets	Sep-14	Oct-14	Change	% Change
401(k) Accts	77,552.57	76,840.58	(711.99)	-0.93%
Roth IRAs	10,764.61	10,891.89	127.28	1.17%
Traditional IRAs	45,693.65	45,711.95	18.30	0.04%
Taxable Brokerage Accts	1,148.00	1,148.00	-	0.00%
Cash & Savings Accts	7,720.37	7,814.70	94.33	1.21%
Son's 529 Plan / Upromise	10,445.00	10,576.31	131.31	1.24%
Daughter's 529 Plan / Upromise	3,297.21	3,313.44	16.23	0.49%
Home	489,000.00	489,000.00	-	0.00%
Car 2	8,697.30	8,610.33	(86.97)	-1.01%
Car 3	13,999.23	13,859.24	(139.99)	-1.01%
Total Assets	668,317.94	667,766.44	(551.50)	-0.08%
Liabilities	Sep-14	Oct-14	Change	% Change
Credit Card Balances	3,509.80	9,834.11	6,324.31	64.31%
Home Mortgage	372,051.85	371,402.80	(649.05)	-0.17%
Car 2 Loan	-	-	-	0.00%
Car 3 Loan	-	-	-	0.00%
Total Liabilities	375,561.65	381,236.91	5,675.26	1.49%
Net Worth	292,756.29	286,529.53	(6,226.76)	-2.17%

September 2014 Income Statement

September was another very good income month, but we had a few last minute large expenses that blew the budget.

Our total income in September was $13,739.35. In addition to our regular paychecks, I received $2,049.71 PTO payout and last weeks pay.  My wife’s company paid her an $800 auto allowance and a $100 company reimbursement for internet service. We also received $95 from Verizon and a $30 for our daughter’s 529 Plan.  We earned $5.38 in interest income from our online savings account.

In September, we spent a total of $16,789.56!  Not something we expected the month I quit working.  Some of the larger, non-typical expenses include $6,366 for a new HVAC, $500 for a new laptop, and $310 for new brakes and rotors.

 am very interested to see if we can dramatically reduce our expenses in October.  My wife’s  net income each month is $6,300.28 plus an additional $900.00 for auto allowance and internet service.  So, $7,200 or less is the goal.