May 2014 Income Statement

May was another great income month and a higher than normal expense month (see attached spreadsheet).

Our total income in May was $17,802.05. In addition to our regular paychecks, my wife earned a $13,140.00 gross ($7,080.03 net) quarterly bonus and received annual wellness check $1,000.00 gross ($985.45 net).  She also received an $800 auto allowance and a $100 company reimbursement for internet service.  We sold a video game system for $100 and earned $2.77 in interest income from our online savings account.

In May, we spent a total of $10,680.52.  Some of the other larger, non-typical expenses include $1,695 cord blood banking for daughter and $400 for tax on old bonus credit card.

June will be interesting.  My wife had our baby at the end of May and will be on disability for 3 months.  The weekly disability checks should be ~$1,075.  As a result, we’ll have to limit our spending a bit.

May 2014 Net Worth Update (+6,563.66)

In May, our net worth increased $6,563.66 to a total of $281,796.60 (click on spreadsheet below).
 
What Worked
Our second child was born this month!  She is a happy and healthy little girl.  We feel so blessed!  In addition to popping out a baby, my wife received a $13,140.00 gross ($7,080.03 net) quarterly bonus!  We contribution at total of $1,016.16 to our retirement accounts and saw them increase $3,813.59.  We also contributed $150 to our son’s 529 Plan and bolstered our savings a bit.

What Didn’t Work
Our taxable brokerage accounts dipped down a bit.

Next Month
My wife will be on disability for 3 months to spend time with our baby.  Disability pays ~$1,075/week, so we will need to reduce our expenses.

 

Net Worth Milestone: $280,000

We passed the net worth milestone of $280,000.  We passed our last net worth milestone of $270,000 in February.

Our net worth is currently $280,108.56.  I will update our chart on the left at the end of the month.

We should hit our next net worth milestone of $290,000 around September.

April 2014 Income Statement

April was great income month and a higher than normal expense month (see attached spreadsheet).

Our total income in April was $14,208.22. In addition to our regular paychecks, I received a third “extra” paycheck and my wife received a $600 auto allowance and a $100 company reimbursement for internet service.  We also received $1,902 Federal tax refund, $540 State tax refund, $120 in gifts and earned $3.77 in interest income from our online savings account.

In April, we spent a total of $10,107.32.  Some of the other larger, non-typical expenses include $300 for a tax accountant, $156 wife’s hair, $531.98 dinning, and $1,703.35 in household items.

May should be a good month for us to get ahead.  My wife receives her quarterly bonus and a annual “wellness” bonus.  Plus our daughter will be born! 

April 2014 Net Worth Update (-1,526.37)

In April, our net worth decreased $1,526.37, to a total of $275,232.94 (click on spreadsheet below).

What Worked

We received a $1,902 Federal tax refund and a $540 State tax refund.  We contribution at total of $1,632.49 to our retirement accounts and saw them increase $4,355.90.  We also contributed $150 to our son’s 529 Plan.

What Didn’t Work
We heavily depleted our savings to pay off credit card.

Next Month
May should be a better than normal income month because my wife should receive her quarterly bonus.

 

 

March 2014 Income Statement

March was a standard income month and a high expense month (see attached spreadsheet).

Our total income in March was $9,938.22.  My wife canceled her monthly ESPP contribution so her take home increased $401.18.  In addition to our regular paychecks, my wife received a $600 auto allowance and a $100 company reimbursement for internet service.  We also received $73.73 in credit card cash back rewards and earned $3.41 in interest income from our online savings account.

In March, we spent a total of $10,105.71.  Some of the other larger, non-typical expenses include $313.95 for a speeding ticket and $125.00 for our son’s preschool registration.

April will be interesting.  I receive a third “extra” paycheck and we meet with our tax accountant to do our income taxes.

2014 Net Worth Update (+2,728.93)

March was a good net worth increase month.  In March, our net worth increased $2,728.93, to a total of $276,759.31 (click on spreadsheet below).

What Worked
We contribution at total of $1,223.05 to our retirement accounts and saw them increase $1,953.11.  We also contributed $150 to our son’s 529 Plan and $750 to savings.  We also closed my wife’s ESPP and moved the money into savings. 
 
What Didn’t Work
Our relatively new taxable brokerage account investment declined considerably.

Next Month
April should be a better than normal income month because I receive a third “extra” paycheck.