May 2015 Recap & Net Worth

Writing monthly updates is a rude reminder of how fast life actually moves.  I miss the days of being in school and having defined milestones. Spring Break, Finals, Summer Break, Getting ready to go back to class. A year isn’t a year when you are in school. It is a time period with dozens of time markers. Now it feels like I blink and a month’s gone past. I need to find a way to slow down my life. Without kids of my own, I struggle to find and make time to break away from the grind.

May: Movies, Running, Hustle

In reflecting on time as it passes, May marked the beginning of summer as I know it. I opened the summer with an excellent summer blockbuster: The Avengers! Age of Ultron! I thoroughly enjoyed it, though it is a bit weird to be all caught up with the rest of the Marvel Clan. I didn’t start watching them until this winter. Waiting for the next movies to come out is going to be a real bummer.  Hubs and I were hoping to catch this at the Drive-in theatre for the experience and a better value, but the line-up never worked out. These old bones can’t stay up until 2am anymore to finish the 3rd movie!

Over Memorial Day weekend, I ran my first 5k race of the year. I use the term “ran” loosely. I am more of a shuffling jogger. I am pretty slow. Because of my laziness over the last few months, I wasn’t expecting much for a time. In fact, I was mentally preparing myself to finish in 45 minutes. Faster feet prevailed and I finished in 41 min. I got a wicked side ache during the race that I couldn’t shake. But even with that, I finished in a time I’m okay with. I didn’t put in the time to improve my time anyway, so I’m glad I wasn’t falsely rewarded for my laziness.  As a last minute addition, Hubs ran the race too. With practically no training and freshly fixed feet, he finished in 29 minutes! I had no idea I married a speed demon. 

May also served as the birth month of my new side hustle. Over the course of two weeks, I had 4 hustle days! This should be shocking. It felt really busy on top of all the normal life stuff going on. Right now, I’m hustling for other people. I’ve been playing around with the idea of turning my hustling into a full blown Kate Consulting hustle. I’ve got numerous things to work out in my head and on paper, but I feel the power of my hustle’s community behind me. Apparently, a few of my knowledgeable hustle connections are surprised I still have my full time job and aren’t doing my hustle full time. To me this means there is a market for this. Now, to formulate and execute. I can’t let my risk aversion define me.

[flashback]

May 2014: I owed $33,036 on my student loans.  {this is astonishing to me. I can’t believe I not only paid this off in a year, but have had a few months to save on top of it!}

May 2013: I graduated from law school! Let studying for the Bar Exam begin.

May 2015: Average Money Momentum

May didn’t come with any great money break throughs. My money is essentially on autopilot. My house fund contributions vary based on my spending for the month, but everything else is set it and forget it.

Screen Shot 2015-06-01 at 6.26.30 PM

Not stellar, but still good!

Assets!

  • Retirement: $16,980 Shucks. I tried to jump over $16,000, but the market had other plans. I was so close! Either way, May was an excellent and steady month of retirement savings. I really like looking at this number. Sometimes I just log into my retirement account and stare at the number. . . . I have a problem.
  • Taxable: $8,531 One more month until I can update this bad boy!
  • Auto Value: $13,795 The initial value was determined by Kelley Blue Book. I drop the value by $50/month.
  • House Fund: $3,548 This was not a great saving month. Certainly, not our best efforts. While we contributed $2200 last month, we (only) managed to set aside $1343. My cash is still drained due to the Tax Bill due next month. I was also able to contribute more in April due to a lower than average credit card bill. Hubs transferred some cash to this account in May, but it won’t hit until June, so I’ll count it then.  I’ll set a realistic goal for June and hope to pass $5,000 in this account.
    • Round Two Progress:
      • Baby Saver: $2125 ✔
      • Middle Saver: $5828. $1423 down, $4405 to go!
  • HSA: $4,237 I have an invested HSA! Instead of straight 0.25% interest through the savings account function, I earned ~2% this month. Woo! I had one small withdrawal this month, and by small, I mean $2.85. Had I known it was going to be so little, I would have had Hubs pay cash for the prescription. This is my favorite account right now.
  • Car Fund: $325 I could buy tires with this! I could nearly pay my deductible with this. While saving large amounts of cash (like my House Fund) is fun, slow and steady is rewarding as well.

Liabilities!

  • Student Loan: $0! I’m keeping this here until it feels silly to list it. It still feels awesome, so here it is!
  • Car Loan: $11,344 Minimum payment as promised.

Overall:

  • Net worth: $36,022. Up $3153 from last month. 

A $3000 increase! I’m learning to accept a new lower normal with these increases. Without special funding, $4000 is out of reach at this point without great help from the market. If $3000 is the new normal, and $1300-$1500 is the most I can set aside for my house fund, I’ll need to re-adjust my House Fund goal.

Just for funsies, I’m going to keep the aggressive goal. Who knows how much money I’ll come into in the next year or so. So long as I keep tracking, I can be pleasantly surprised when I get there! 🙂

Depending on how awesome June is, I could break through $40,000. That would be the sweetest.

  • Net worth increase: $144/day
    • Well, I finally dropped below $150 per day, but I knew I couldn’t stay above that forever. $144 per day is still really awesome! Not complaining!!

How was your May? Tell me, tell me! Also, do you have a way to break down time?

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13 comments

  1. You’re clearly crushing it! If you think you’re not, then you’re being too hard on yourself. 🙂 That said, I love that you’re keeping your aggressive goals — good to keep reaching! Curious to hear more about your side hustle, and how that evolves. Good luck!

    1. I’m hard on myself because I don’t know my new normal yet. It’s hard to feel good about progress if you don’t know if it’s my best effort!
      I’m excited about the hustle. Hopefully, I’ll do something about it and not just talk about it.

  2. Congrats on a great month! And, that’s awesome you ran your first 5K–way to go! That May flashback must make you feel so proud–you’re tearing it up (in a good way, of course 😉 ).

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