May Snapshot
May 31, 2008
| Retirement Savings | Rollover IRA: $1,415 Roth IRA: $3,603 401(a): $4,120 403(b): $16,973 Total: $26,111 |
| Emergency Savings | Catastrophe: 15,004 Problem Cushion: $1,382 |
| Short Term Goal Savings | Car Maintenance: $1,316 Car Insurance: $1,375 Travel/Con: $700 Total: $3,391 |
| Long Term Goal Savings | House Downpayment: $33 |
| Investment Loans | Prosper-ish: $12,630 Personal Loan: $5,000 Savings Bond: $357 (current accrued value) Total: $17,987 |
| Total Assets | Non-Liquid: $26,111 Semi-Liquid: $17,987 Liquid: $16,386 Expense Acct: $256 Goals Savings: $3,424 Total: $64,164 |
| Debt and Liabilities | Truck: $5,450 Citi: $56 Chase: $371 Insurance: $775 Rent: $1,360 Total: $8,012 |
| Net Worth | $56,152 |
While I liked Moom’s suggestion of breaking out the short term and long term savings goals for a more accurate feel, I’m still hesitant to include it in my net worth specifically because it’s meant to be spent someday. For now, I’m leaving it in there, and still leaving the automobiles out of the accounting. Given the current economy and the amount of time it’s taking to sell the truck, I don’t have a lot of faith that I could easily sell the cars for a current valuation.
I’ve actually regressed a little since last month’s snapshot: $56,454. In part, a lot of hefty bills came to roost, like the insurance deductibles. Bill creep accounted for some small part of it, which is why I started on the crusade to bring down the cable and internet bills. The new additions to the expense/savings do balance each other out, though, like for the auto insurance item. Redistributing that “windfall” and having it go into spending categories reduced the overall amount. Primarily, though? I think I’m almost certain that gas prices have been eating up my budget. In the last month, I’ve spent $250 on gas, compared to $250 in the two months prior. I’ve literally doubled the amount spent on gas.
I’m still seeing some growth in the long term savings, and I just need to produce more growth in the non-spending areas.
I’d like to see better numbers, but I’m not terribly surprised that this month wasn’t so good. Assuming work doesn’t have any really unpleasant surprises, I hope to see some improvement in a few months. I won’t see it in the investment section, though, as I’ve severely reduced my contributions.
I can’t wait until I can start listing my assets in those amounts for short-term savings š
~FB~ At the rate you’re going, you’ll be there in no time! The progress you’ve made in the last couple of months has been phenomenal, once that money’s all going towards savings you’re going to blow my little accounts out of the water š
I like your e-fund labels “problem cushion” and “catastrophe”. I think of my 1k and 6 month e-funds in the same way.
It was always helpful to label them that way!