A net increase of $34,217.83 to bring us to $239,635.91
Here’s the main table tracking our net worth again. We’ve added some pretty graphs to the bottom of the post:
401k – $8,125.27 – With the large bonus that Mr. Joe got this month, there was an additional ~$1,500 in contributions this month that were unusual.
HSA – $5,809.56 – Normal paycheck contributions here. Also some spending from the HSA account to cover some medical expenses for Mrs. Jane as she goes through pregnancy.
RothIRA – $34.73 – Stock market at work here…haha. The investments here declined a little bit this month.
Acorns – $34.25 – Just like before, we love Acorns because it just puts that little extra away without you realizing it.
Cash – $1,973.15 – Normal ebbs and flows of the checking account at work here. We’ve added an Income and Spending section below that will show where most of our “cash” went.
Mr. Joe’s Student Loans – $128.44 – If you’ve been following our blog then you’ll know that we recently Re-financed Mr. Joe’s student loan with SoFI. We’ve detailed that process in some other posts you can find here. So far it’s been great working with SoFI. We made a payment this month and accrued a little interest.
Mrs. Jane’s Student Loans – $88.52 – Again, just a simple payment and interest on these loans. We’ll try to tackle this debt after one of the cars.
Car Loan 1 – $1,355.563 – HUGE BIG progress here and it’s due entirely to focusing on this debt this month. This loan is our current target debt to knock out. We’ll hopefully clear it within the next two months. Woohoo!
Car Loan 2 – $277.65 – Making progress on schedule here due to making a payment. This is a 0% interest loan and we’re unlikely to ever accelerate this loan payment.
Credit Cards – $2,728.71 – This month we were able to completely knock out the one card that we were carrying a balance on. It was at 0% but it was still a weight lifted from our shoulders.
Income and Spending
Here’s where we actually show you where our money went during the month. We won’t go into crazy detail because telling you which restaurants we ate at each week would be just silly. But we will cover any unusual spending or income.
The “Budgeted” numbers below are kind of ambiguous and work on a monthly funding basis so something like car insurance which we pay every 6 months has a dollar amount budgeted but won’t actuals except for twice a year.
This is kind of a simple table showing our income for the month. This month it includes both of our incomes and a major bonus for Mr. Joe. It does not include spending money that Mrs. Jane has withheld. We follow a Yours-Mine-Ours philosophy for our money so her fun money is direct deposited to her own checking account and is not included in these numbers. The income numbers include company matches to 401ks and HSA contributions, those are also reflected in the Investment table below. Also shown here is reimbursement from work related expenses (mostly fuel) and the sale of a couple of hockey tickets.
As stated earlier, this month is larger due to the bonus that Mr. Joe received this month.
This was a pretty typical month for us with the exception of the Car Payments. We really threw a lot of money at one of our cars, using a lot of the bonus money with the goal of paying off that car within the next couple of months. Also the Cable TV number is odd. We accidentally sent an online bill payment to an old account number that the company is working on tracking down to refund us. For now it’s shown as a double expense, once to the wrong account and once to the right account. Eventually we should get a refund of our double payment but that will have to be reflected in a different month when we actually receive that refund.
The vacations dollars spent here we totally a spur of the moment decision. We had some close college friends just invite us to an out of state house warming party and we haven’t seen them in awhile so we decided to go for it. Not necessarily a great financial decision but what’s life if you don’t enjoy it with good people? We posted a bit about that vacation here.
Here you can see Mr. Joe’s two very expensive hobbies! He’s currently a student pilot trying to become a private pilot and he also loves hockey and we have season tickets. Last month we had a double payment for the hockey tickets so this month we did not have one. The other thing of note is the Home Maintenance costs. We bought some “new” kitchen appliances from a friend that was remodeling their kitchen. These cost $1,600 but they are roughly $4,500 if new. They did need some cleaning but otherwise were in excellent shape. There will be a separate post about these appliances later. There is a story here.
We also had a tree cut down in the yard.
Another post in development is related to Mr. Joe’s Shopping this month. We’ve decided to cut the cord and get rid of cable TV. The costs this month are related to that but you’ll have to read the other post on it to find out what’s going on here. 🙂
The big thing was we purchased a very small hockey jersey for the little guy/girl that’s on the way. We’ll likely be using it as a way to announce to our friends and family that there will be a new person coming! Haha.
Personal Capital Net Worth
Charts from my Google Sheets Financial Tracking Spreadsheet
This first graph shows what our current liquid assets would provide as income at a 3% withdrawal rate in Blue, our income in Red, and our expenses in yellow. For those readers that have not researched Financial Independence and Early Retirement (FIRE), this is a very conservative way of estimating retirement income. Essentially, when the Blue line exceeds the yellow line we could retire with reasonable confidence.
This is a stacked line chart that shows how our net worth is broken down in different accounts. Hopefully as time goes on these graphs become more interesting.
Full Disclosure: The links above to SoFI and Acorns are referral links. I will get a bonus from SoFI if you sign up using my link and you will get $100. If you sign up for Acorns with my link we both get $5.