Networth Updates

Net Worth Update May 2017 – $242,559.69

A net increase of $2,923.78 to bring us to $242,559.69

Here’s the main table tracking our net worth again. We added another line to track Mr. Joe’s equity bonus award. It vests in 3 years so if he leaves his company before then it’s worthless.

 

Change Explanations:

401k$3,707.58– Normal contributions and growth.

HSA$479.06 – Normal paycheck contributions minus spending from the HSA account to cover some medical expenses for Mrs. Jane as she goes through pregnancy. Also Mr. Joe had a wisdom tooth removed this month.

RothIRA$78.45 – Stock market at work here… The investments grew a little bit this month.

Taxable$1478.25 – Company stock took a dive this month. Overall this account will likely be quite volatile as it’s just one companies stock. I can’t do anything about that until it vests.

Acorns$35.77– Just like before, we love Acorns because it just puts that little extra away without you realizing it.

Cash$904.82 – 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$140.22– 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$98.01 – 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$568.09 – Not as much progress this month compared to last due to the added house expenses we’ve had recently. This loan is our current target debt to knock out. We’ll hopefully clear it within the next two months.

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$1168.25 – We pay this off in full each month now so this is reflecting the current balance that already has a scheduled payment against it.

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 have actuals except for twice a year.

Income

This is kind of a simple table showing our income for the month. This month it includes both of our incomes but 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).

You’ll also see the refund from the over-payment on the Cable bill here.

Investments

Compare to last month this is a normal month. No bonuses or any other additional income to bump up the 401k contributions.

Necessary Expenses

This was a pretty typical month for us with the exception of the Car Payments. We made more than minimum payments on the car and managed to avoid spending any money on the pets this month.

Discretionary Expenses

This month was a home maintenance nightmare. We bought some used appliances from a work friend and they fit wonderfully except for the fridge. The fridge was slightly too large and required modifying one of the walls which means we had to buy materials and some tools. Oh the joys of home ownership.

The other extremely large categories this month were Mr. Joe’s flight training and dining out. He is preparing to take the certification exam with an FAA Designated Examiner and has been flying a lot more to get prepared for that. Dining out was because we paid for a couple of birthday dinners for family; Mrs. Jane has 3 family members who have birthdays in April.

Excess Expenses

The extra money spent here was car registration renewals. Had to renew 3 cars and our pop-up camping trailer.

 

Pretty Graphs

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.

2 thoughts on “Net Worth Update May 2017 – $242,559.69”

    1. We find it really motivating to make these posts.

      I’m sure there’s a source for this quite some where but it’s early and I don’t really feel like looking it up:

      “What gets measured gets improved”

      Just tracking these numbers makes us more aware and therefore focus more on improving them.

      Stay motivated!

Leave a Reply