November 2013 Net Worth Update (+2,098.03)

In November, our net worth increased $2,098.03, to a total of $241,457.07 (click on spreadsheet below).

What Worked

In November, we contributed $818.88 to our retirement accounts and saw them increase $1,018.43 to a total of $106,546.01.   We also contributed $150 to our son’s 529 Plan.

What Didn’t Work
-

Next Month
December should be another good month and strong close to 2013.

 

Net Worth Milestone - $240,000

Today we passed the $240,000 net worth milestone! Our net worth is currently $240,095.38.

We passed our last milestone of $230K in August. Based on my forecasts, we should hit the next net worth milestone of $250K by March.

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

October 2013 Income Statement

October was an even better income month than last month, which was phenomenal, but it was also a large expense month(see attached spreadsheet).

Our total income in August was $13,672.80.  In addition to our regular paychecks, my wife received an unexpected bonus check ($3,000 gross, $1,683.60 net).  She also received a $600 auto allowance, and a $100 company reimbursement for internet service.  I received a third “extra” check this month.  We earned $2.49 in interest income from our online savings account.

In October, we spent a total of $11,199.67 continuing our trend of blowing our budgetJ.  Some of the larger, non-typical expenses include $550 brake job for car 2 and ~$3K in household items.

November should be a pretty standard income and expense month.

 

October 2013 Net Worth Update (+5,439.56)

Our net worth in October increased nicely again.  In October, our net worth increased $5,439.56, to a total of $239,359.04 (click on spreadsheet below).

What Worked

In October, we contributed $1,228.32 to our retirement accounts and saw them increase $4,545.84 to a total of $105,527.58.   While we don’t track current market value of our home in the spreadsheet (we use the purchase price), comps in our area are selling for $100K+ more than our purchase price.

What Didn’t Work
-

Next Month
November should be another good month. 

September 2013 Income Statement

September was a phenomenal income month and a big expense month too (see attached spreadsheet).

Our total income in August was $12,577.62.  In addition to our regular paychecks, my wife received a final check from her old company and a $700 company reimbursement from her new company.  We also received $75 in credit card cash back rewards, $150 in birthday gifts to our son (529Plan) and we earned $2.66 in interest income from our online savings account.

In September, we spent a total of $10,681.95 - not as much as last month ($12K), but more than we should.  Some of the larger, non-typical expenses include $215 BBQ, $2K in food, and $2K in misc. household items.

October should be another good income month - I receive a 3^rd “extra” check.

 

September 2013 Net Worth Update (+6,882.47)

Our net worth in September showed good improvement.  In September, our net worth increased $6,882.47, to a total of $233,919.48 (click on spreadsheet below).

What Worked
September was such a blessing.  We found out that my wife is 4 weeks pregnant!  We are so happy to be having a second child.  We also passed the retirement savings milestone of $100,000 in total retirement assets!  September was my wife’s first full month at her new job, which she loves.  In September, we contributed $1,062.76 to our retirement accounts and saw them increase $5,802.02 to a total of $100,981.74.   We also tucked away a little more into our son’s 401(k).

What Didn’t Work
-
 
Next Month
October should be another good month.  I receive a 3^rd “extra” check and no major expenses are planned.

Retirement Accounts Total Balance Passed $100K

Today our retirement accounts total balance (401k, Roth IRA, & Traditional IRA) passed $100,000.

Our retirement accounts total balance is $100,697.64!  This is a major blessing and milestone for us.  I've always heard the first $100K is the hardest and that it just gets easier.  Let's hope that's the case.