November 3, 2008
| Retirement Savings |
Rollover IRA: $1,452 Roth IRA: $3,653 401(a): $4,107 403(b): $12,197 Total: $ 21,409 (23,352)
|
| Emergency Savings |
Catastrophe: $ 19,743 (18,547) Problem Cushion: $0
|
| Short Term Goals |
Car Maintenance: $810 Car Insurance: $1,503 Travel/Con: $297 Taxes: $3,499 Moving: $15 Total: $ 6,124 (5,184)
|
| Long Term Goals |
House Down Payment: $100
|
| Investment Loans |
Prosper-ish: $12,630 Personal Loan: $5,000 Savings Bond: $357 (current accrued value) Total: $17,997
|
| Total Assets |
Non-Liquid: $21,409 Semi-Liquid: $17,997 Liquid: $19,743 Expense Acct: $6,683 Goals Savings: $6,124 Total: $ 71,686 (72,762)
|
| Debt and Liabilities |
Truck: $3,133 AX: 130 Citi: $403 Chase: $578 Rent: $1,360 Total: $5,604
|
| Net Worth |
$66,082 (66,846)
|
Notes:
Meh. I totally didn’t feel like putting this together.
Gains in cash holdings were more than offset by the losses of my portfolio. *shrug* Knew that was going to happen.
It’s more than time to cultivate more streams of income by freelancing if I want to make any actual gains. A six figure net worth seems much farther away than it did before.
Looking ahead to November:
1. It’s open enrollment time!
A) Figure out new FSA allocations for 2009. Account for increase in copays (up from $15 to $20 for office visits and up from $10 to $15 for prescriptions).
B) Long term care insurance. Do it.
C) Expand disability insurance? Hmm.
D) Anything else?
2. Am a little tweaked about the Thanksgiving holiday weekend. I’m in dire need of a getaway and Turkey Day takes up a whole weekend that could have been mine, all mine. Selfish, huh? Oh well, I’ll think of something because I really need a break.
October 6, 2008
| Retirement Savings |
Rollover IRA: $1,452 Roth IRA: $3,770 401(a): $4,588.70 403(b): $14,994 Total: $23,352 (26,086)
|
| Emergency Savings |
Catastrophe: $ 19,413 (18,547) Problem Cushion: $0
|
| Short Term Goals |
Car Maintenance: $788 Car Insurance: $604 Travel/Con: $286 Taxes: $3,491 Moving: $15 Total: $ 5,184 (5,452)
|
| Long Term Goals |
House Down Payment: $100
|
| Investment Loans |
Prosper-ish: $12,630 Personal Loan: $5,000 Savings Bond: $357 (current accrued value) Total: $17,997
|
| Total Assets |
Non-Liquid: $23,352 Semi-Liquid: $17,997 Liquid: $19,413 Expense Acct: $6,716 Goals Savings: $5,284 Total: $ 72,762 (69,775)
|
| Debt and Liabilities |
Truck: $3,521 AX: 142 Citi: $321 Chase: $572 Rent: $1,360 Total: $5,916
|
| Net Worth |
$66,846 (63,680)
|
Notes:
~ This is nearly a week late, but the numbers should be accurate through October 4th.
~ I expected my retirement funds to have hemorrhaged. It’ll be ok.
~ The supplementary income was like a shot in the arm, or a bowl of chicken soup. I’ll be good for another three months, and then some. I’ll still need a job, though. š
~ The area that I’m truly happy about is the money I’m saving, aka money I’m keeping. It’s not scheduled to be spent, it’s just there.
~ I’m spending a lot of time mulling over how to handle the upcoming supplementary income. I want to make sure that I’m still saving a good percentage of my income, and not getting used to an artificially high cash flow.
~ That truck loan doesn’t have much farther to go. I’m resigned to paying it off and keeping it for a while. It’ll have some crazy-low mileage by the time I do anything with it, that’s for sure. Since the selling of the truck never really went anywhere, I’ve taken it off the list of things to stress about.
~ It’s high time to officially create a Charity/Donations fund. I’ve always given informally and out of my expenses fund, supporting my family, my extended family and a select few charities, but I would like to earmark some money solely for that purpose in 2009. I think this means I’ll be able to give more and more regularly.
September 1, 2008
| Retirement Savings |
Rollover IRA: $1,452 Roth IRA: $3,779 401(a): $4,810 403(b): $16,045 Total: $26,086 (25,670)
|
| Emergency Savings |
Catastrophe: $18,547 (18,521) Problem Cushion: $0
|
| Short Term Goals |
Car Maintenance: $953 Car Insurance: $604 Travel/Con: $406 Taxes: $3,474 Moving: $15 Total: $5,452 (5,582)
|
| Long Term Goals |
House Down Payment: $100
|
| Investment Loans |
Prosper-ish: $12,630 Personal Loan: $5,000 Savings Bond: $357 (current accrued value) Total: $17,997
|
| Total Assets |
Non-Liquid: $26,086 Semi-Liquid: $17,997 Liquid: $18,547 Expense Acct: $1,693 Goals Savings: $5,452 Total: $69,775 (67,412)
|
| Debt and Liabilities |
Truck: $3,909 Citi: $429 Chase: $397 Rent: $1,360 Total: $6,095
|
| Net Worth |
$63,680 (61,095)
|
— Up 4% —
As usual, my retirement accounts are barely maintaining, and only thanks to continuous contributions, and the great 10% match from my employer.
The insurance company only paid for my deductible and hasn’t reimbursed me for the other $300+ part of the auto bill, so I need to follow up with them tomorrow, but the returned $1000 was a very welcome addition to the expense account.
I’m happy that I still have not had to dig into the emergency fund for any reason at all, and can’t wait to make more substantial contributions to the moving fund. I should be due for an extra dollop of income thanks to all the overtime I’ve been pulling, and happily, they’re actually paying the correct amount of overtime. It’s complicated.
August 1, 2008
| Retirement Savings |
Rollover IRA: $1,452 Roth IRA: $3,698 401(a): $4,347 403(b): $16,173 Total: $25,670 <-3%>
|
| Emergency Savings |
Catastrophe: $18,163 Problem Cushion: $0
|
| Short Term Goals |
Car Maintenance: $930 Car Insurance: $603 Travel/Con: $579 Taxes: $3,465 Moving: $5 Total: $5,582
|
| Long Term Goals |
House Down Payment: $100
|
| Investment Loans |
Prosper-ish: $12,630 Personal Loan: $5,000 Savings Bond: $357 (current accrued value) Total: $17,997
|
| Total Assets |
Non-Liquid: $25,670 Semi-Liquid: $17,997 Liquid: $18,163 Expense Acct: $779 Goals Savings: $5,482 Total: $67,412
|
| Debt and Liabilities |
Truck: $4,297 Citi: $298 Chase: $631 Rent: $1,360 Total: $6,317
|
| Net Worth |
$61,095
|
— Up 0.01% —
Once again, it seems like the numbers are inflated; the “increased” net worth is due to the recent influx of cash. It seems to have settled out, though.
June ended far too soon, with too much left to do. I am happy that I have a bit more in my cushion, though. With the gas prices getting higher every day, I’ve had to readjust my expectations for monthly expenses, and adjust the emergency fund target upward accordingly. Of course, I will continue on my crusade to reduce expenses, but I prefer to plan for the worse (6 months of unemployment at current spending levels) and hope for the best (landing a better, higher-paying job, reducing expenses).
I’ve removed another feature from our landline, bringing that bill down to $30/month, but I want to look at T-mobile’s about their new version of a landline service. If that pans out and doesn’t affect my internet service ($14.99/month), I’ll switch from Verizon ($30/month) to T-mobile ($10/month, $50 start-up fee). At that rate, it’ll take 3 months before I start saving $20/month on phone services.
Oh! My Down Payment account has money in it. Current total: $100.00. š
And I gave my Moving account a free $5 from my checking account cushion to start. It’s a drop in the bucket, but at least there’s a drop now. That should encourage more drops.
Overall, there’s been very little change, except some spending that’s covered by the travel fund. Details on that spending later.
It’s a bit disappointing that my credit card bills (I use them for 90% of my expenses) are outpacing my expense account.
July 2, 2008
| Retirement Savings |
Rollover IRA: $1,452 Roth IRA: $3,688 401(a): $4,085 403(b): $16,095 Total: $25,320 <-3%>
|
| Emergency Savings |
Catastrophe: 17,037 Problem Cushion: $1,382
|
| Short Term Goals |
Car Maintenance: $1,298 Car Insurance: $1,375 Travel/Con: $700 Taxes: $3,465 Moving: $5 Total: $6,868
|
| Long Term Goals |
House Downpayment: $43
|
| Investment Loans |
Prosper-ish: $12,630 Personal Loan: $5,000 Savings Bond: $357 (current accrued value) Total: $17,997
|
| Total Assets |
Non-Liquid: $25,320 Semi-Liquid: $17,997 Liquid: $18,419 Expense Acct: $373 Goals Savings: $6,868 Total: $64,164
|
| Debt and Liabilities |
Truck: $4,683 Citi: $1,547 Chase: $838 Rent: $1,360 Total: $8,428
|
| Net Worth |
$60,544
|
— Up 7% —
Once again, it seems like the numbers are inflated; the “increased” net worth is due to the recent influx of cash. It’ll settle out soon enough, once the bills are paid off and the “extra” cash goes where it needs to go.
June ended far too soon, with too much left to do. I am happy that I have a bit more in my cushion, though. With the gas prices getting higher every day, I’ve had to readjust my expectations for monthly expenses, and adjust the emergency fund target upward accordingly. Of course, I will continue on my crusade to reduce expenses, but I prefer to plan for the worse (6 months of unemployment at current spending levels) and hope for the best (landing a better, higher-paying job, reducing expenses).
I’ve taken another feature off our landline, bringing that bill down to $30/month, but I want to speak with Tmobile tonight about their new version of a landline service. If that pans out and doesn’t affect my internet service ($14.99/month), I’ll switch from Verizon ($30/month) to T-mobile ($10/month, $50 start-up fee). At that rate, it’ll take 3 months before I start saving $20/month on phone services.
Oh! I added another $10 to my Down Payment account. Current total: $43.00. š
And I gave my Moving account a free $5 from my checking account cushion to start. It’s a drop in the bucket, but at least there’s a drop now. That should encourage more drops.
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.
May 6, 2008
Each month, I round up all my expenses and work out the total of what I grandly call my net worth. A lot of bloggers do it, in one form or another. Actually, I call mine “snapshots” because they’re just a quick glimpse at my ever-fluctuating expense and income sheets. In a way, I like that the numbers continually change, especially since I get bored so easily. Activity isn’t always a good thing, though, as noted by the massive reductions in net worth during the BroDucky debacle. Let me emphasize how I never want to spend so much for so little again. š
Every month, I put together these snapshots, but I don’t actually have a net worth goal. And keeping track of numbers without an actual goal seems rather halfhearted. I do have annual savings goals, as you can see by my sidebars, but I don’t have an overall net worth goal. Part of this is because the savings goals are both saving and spending goals. A good half of my goals pertain to a future purchase or expenditure: car maintenance, home ownership, auto payoff. The other half are for retirement (completely untouchable), emergencies (almost always untouchable), and mistakes (only if it’s serious).
Between the two, it seems like I’m just saving to spend. Oh, that’s not really the case, I’ll still have the savings at the end of a long hard day, but the half and half structure of my goals implies that this isn’t all about holding on to my putative wealth. In that light, “net worth” doesn’t seem applicable unless I have something more concrete than the employer retirement funds and cash in a savings account. Some things more like CDs, and savings bonds, and property. An actual stock portfolio, at some point. You know, grown-up things. So again, what’s the point of tracking my net worth?
After all, it can be very subjective. You can choose to include or exclude any number of possessions or holdings that you deem worthy or not of being considered. I leave out my automobiles entirely because it’s a bit too complicated to include them. I don’t plan to sell my personal vehicle ever, and the family sedan, which is not my financial responsibility, is still being paid off. Still, if something happened to it, you betcha I’ll be the one who has to figure out a replacement. Same goes for personal loans. I only started including those because I’m getting forgetful, and didn’t want to lose track of them entirely. One of the reasons I’m leery of including any possessions is the idea that possessions only have value to me. If I lose or break something, I have to replace it at a cost to myself. It’s highly unlikely, in the general scheme of things, that my possessions will be worth anything to anyone else. Barring selling large ticket items, of course. But my point is, things are primarily a liability. More often, I’ll have to replace things, not make money from them.
So, why track a seemingly artificial net worth? In part, accountability. As long as I see steady progress, or lack thereof, in the form of numbers from one time period to the next, I have to stay on track. Some kind of track. And if I keep the variables constant, then the change in amounts is a valid indicator of circumstances. Just because I don’t include my possessions doesn’t mean my financial holdings aren’t real.
The other part, motivation. Seeing the numbers makes the whole game of finances, bargain shopping, and frugality more real. It’s not just theory, it’s life in action. If I were to be completely objective, I’d be proud of myself for going from working to pay off my family’s debt (credit cards, car payments, personal loans), to actually building a cash cushion, putting a decent amount away for later, and generally making some progress. It’s harder to see that, though, on those bleak days when all I can think of is the $18,000 I foolishly lent and lost, the entire salary of my 4 college years going towards bills bill and more bills, and most of my post-college salary going towards not me. I can only see the other side of the coin if I actually keep track of it.
It’s all too easy to forget that the grind can actually produce results, and to keep going because we’re going to make it. I look at the accomplishments of fellow bloggers, and I’m A-M-A-Z-E-D. And you know what? Seeing my numbers keeps me honest. I can finally be happy for what I’ve done here these past two years, too. Combine that with the realizations that it’s ok to be free, that it’s ok to live, and I’m going to say, not too shabby, really!
So, let’s keep on with the net worth! It doesn’t define me, and it may not truly define my “wealth” but it’s a good way to keep me truckin’ from milestone to milestone.