Today we passed the $190,000 net worth milestone! Our net worth is currently $190,625.95.
We passed our last milestone of $180K in August. Based on my forecasts, we should hit the next net worth milestone of $200K by December.
I will update our net worth meter (on the left side of the screen) at the end of the month.
October 18, 2012
October 1, 2012
September 2012 Income Statement
September
was a normal income month and a high expense (click on spreadsheet below).
Our
total income for September was $8,065.98.
In addition to our regular paychecks, my wife received a $25 company
reimbursement. We also received $50.00
in credit card cash back rewards, $275.00 in gifts to our sons 529 Plan, and we
earned $3.64 in interest income from our online savings account.
In
September, we spent a total of $8,362.84, higher than we should have spent, but
less than we’ve spent almost every month this year. Some of the random large expenses were: $345.77
went to repainting the inside of our home, $489.08 in pool supplies, $432.35
SDG&E, and a few hundred towards our son’s 1st birthday party.
Next
month (October) should be a very good income month because I receive a third
“extra” paycheck. Hopefully we can
tighten our belts and spend less…
September 28, 2012
September 2012 Net Worth Update (+5,243.86)
In September, our net worth increased $5,243.86 from last month, to a total of $188,261.27(click on spreadsheet below). This puts us at 108.70% of our 2012 net worth goal of $173,200, which means we’re starting to make pretty good headway towards our 2013 net worth goal of $211,000.
What Worked
We contributed a total of $1,445.04 to our retirement accounts, and saw them increase $3,449.87 to $64,262.92 total. We contributed $275 to our son’s 529 Plan thanks to birthday gifts from family.
What Didn’t Work
Our excessive spending continues to keep us from putting more money away. As a result, our credit card bill each month has been much higher than usual. We pay the card in full each month in order to avoid interest charges, but had to pull some money out of savings last month to make it happen.
Next Month
We hope to get caught up a little in October. I received a third “extra” check that will help cover our large credit card bill without pulling much money out of savings.
What Worked
We contributed a total of $1,445.04 to our retirement accounts, and saw them increase $3,449.87 to $64,262.92 total. We contributed $275 to our son’s 529 Plan thanks to birthday gifts from family.
What Didn’t Work
Our excessive spending continues to keep us from putting more money away. As a result, our credit card bill each month has been much higher than usual. We pay the card in full each month in order to avoid interest charges, but had to pull some money out of savings last month to make it happen.
Next Month
We hope to get caught up a little in October. I received a third “extra” check that will help cover our large credit card bill without pulling much money out of savings.
September 5, 2012
August 2012 Income Statement
August was an amazing month - enormous income and large expenses (click on spreadsheet below).
Our total income for August was $17,679.78, our second largest income month EVER. The only larger month was December 2011 ($25,449.19, which included proceeds from a recreational vehicle sale). Our income was huge this month because of my wife’s awesome quarterly bonus ($13,750 gross, $9,839.22 net). In addition to our regular paychecks, my received a $25 company reimbursement. We also received $50.00 in credit card cash back rewards, a $50.00 gift for my sons 529 Plan, and we earned $3.22 in interest income from our online savings account.
In July we spent a total of $13,051.92. We had many rare expenses this month, starting with a $561.81 water bill (broken sprinkler) and $397.03 gas/electric bill (darn A/C). We also went on vacation to Canada($1,865.36), bought a new car battery ($125.91), insurance for our new SUV ($165.97), a portable A/C unit for my son’s room ($173.24 after a $150 gift card), various costs for my wife’s reunion. We were busy this month!
Next month (September) should be a much more normal income month and hopefully, a mellow expense month.
Our total income for August was $17,679.78, our second largest income month EVER. The only larger month was December 2011 ($25,449.19, which included proceeds from a recreational vehicle sale). Our income was huge this month because of my wife’s awesome quarterly bonus ($13,750 gross, $9,839.22 net). In addition to our regular paychecks, my received a $25 company reimbursement. We also received $50.00 in credit card cash back rewards, a $50.00 gift for my sons 529 Plan, and we earned $3.22 in interest income from our online savings account.
In July we spent a total of $13,051.92. We had many rare expenses this month, starting with a $561.81 water bill (broken sprinkler) and $397.03 gas/electric bill (darn A/C). We also went on vacation to Canada($1,865.36), bought a new car battery ($125.91), insurance for our new SUV ($165.97), a portable A/C unit for my son’s room ($173.24 after a $150 gift card), various costs for my wife’s reunion. We were busy this month!
Next month (September) should be a much more normal income month and hopefully, a mellow expense month.
August 30, 2012
August 2012 Net Worth Update (+11,797.62)
In August, our net worth skyrocketed $11,797.62 from last month, to a total of $183,017.41 (click on spreadsheet below).
What Worked
The largest impact this month, and likely this year was a huge quarterly bonus that my wife earned. She bonus this quarter was $13,750 gross ($9,839.22 net). Obviously, this has a major impact on our finances. We paid off our 0% credit card balance ($5,236.35), tithed 10% ($1,375), and got a few things done around the house. We contributed a total of $2,820.04 to our retirement accounts, and saw them increase $5,143.40 to $60,813.08 total. All of this goodness resulted in us passing the net worth milestone of $180,000 in August.
What Didn’t Work
N/A, we were blessed with an amazing month.
N/A, we were blessed with an amazing month.
Next Month
September should be a standard month in terms of our net worth increase. However, it’s a milestone for our family as our son turns 1 year old!
September should be a standard month in terms of our net worth increase. However, it’s a milestone for our family as our son turns 1 year old!
August 10, 2012
Net Worth Milestone - $180,000
Today we passed the $180,000 net worth milestone! Our net worth is currently $182,496.62.
We passed our last milestone of $170K last month (July) so reaching $180,000 in such a short period of time is a major blessing. My wife’s larger than normal quarterly bonus, $13,750 gross ($9,839.22 net), put us over the $180K mark. Based on my forecast, we should hit the next net worth milestone of $190K by November.
I will update our net worth meter (on the left side of the screen) at the end of the month.
We passed our last milestone of $170K last month (July) so reaching $180,000 in such a short period of time is a major blessing. My wife’s larger than normal quarterly bonus, $13,750 gross ($9,839.22 net), put us over the $180K mark. Based on my forecast, we should hit the next net worth milestone of $190K by November.
I will update our net worth meter (on the left side of the screen) at the end of the month.
August 3, 2012
Already Passed our 2012 Net Worth Goal!
Today we passed our 2012 net worth goal of $173,200. That puts us 4 months ahead of schedule. Our current net worth is $174,101 and my wife expects to receive a large quarterly bonus next week, so our net worth should jump another $8,000 or so by the end of the month. Our net worth meter (on left) will be updated at the end of the month.
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