It’s March, but I am overdue for a February Net Worth update. It’s a good one. Before I get into the juicy stuff, let’s recap.
If there ever was a month of my life that epitomized Work Hard/Play Hard, it was February 2016. I had a major project at work peak. I was working nights and weekends to keep the entire team on schedule. I even worked a full day on Valentine’s Day, which to me was simply a Sunday in February, but that fact seems to pull on other’s sympathy strings. Can you believe it? I worked on a BS corporate holiday!
The play part of February was so much more fun. I had 3 major events in February, 2 of which were out of town. My favorite event was this: The Crashed Ice Finale in St Paul, MN!
We stayed with friends when we were out of town and it was a delight. Hotels seem so impersonal to me now.
To top off all the fun of the month, Hubs and I were incredibly sick for 2 weeks of it. Our illness managed to fit themselves perfectly into such a crazy month to let us still do what we wanted to do and for me to get my work done. It was not fun to “sleep” (let’s be honest, there was no sleep) in a chair for a week, but I’m happy our immune systems got a work out.
I’m healthy now, let’s get to the numbers!
February 2015: After only focusing on my student loan balance for a year, I started tracking my net worth! It was positive! My 401k balance broke through quadruple digits! I saved a comma! I was also bragging about my IRA gains. I have less IRA gains today than I did a year ago. Great.
February 2014: I was in my first month at my new job! I was still juggling all my unemployment volunteer obligations: writing wills & doing taxes. The Sochi Olympics were in full swing, so naturally, I was watching a lot of curling. HURRY!!!!! Haaaaaaard!
February 2016: A big month!
Retirement: $29,148 (+2,050) Two great months, back to back! Last month was from my 401k match, this month got a boost from my annual bonus. I’ve made some serious retirement progress in the last 2 months. It’s hard to believe that all of these gains have come despite the recent market activity.
Taxable: $8,269 No change.
Auto Value: $12,519 (-150) The depreciating asset keeps depreciating. I got in a car accident in February, but I’m considering the accident a wash. There was no structural damage to the car and it was fully repaired with original parts. Minus the major inconvenience of getting my automobile fixed, the car is as good as new!
House Fund: $24,086 (+4,931) A huge month for the house fund! HUGE! I crossed $20k with my first check of the month and made major progress with the second check. Saving for a house has been incredibly boring for most of the last year, but a major saving month is a lot of fun!
I flew right through Thing 1 and nearly finished Thing 2! I am over the moon with my house fund saving this month. Can I get a bonus every month?
Round Two Progress: (What is Round Two? check here!)
- Baby Saver: $2125 ✔
- Middle Saver: $7953 (Loan value: $5828) ✔
- Thing 1: $16,453 (Loan value: $8500) ✔
- Things 2: $24,953 (Loan value: $8500) >in progress< … but almost done!
- Dang! $24,086 down, only $867 to go!
- Big Momma: $45,330 (Loan value: $20,377)
HSA: $5,728 (+254) Another month without any bills. I had so many months with medical bills last year, paying bills feels like the norm around here. My body and bank account are pleased I haven’t been to the doctor in a while!
Car Fund: $451 (+50) I survived the market downturn without dipping into my cash reserves! That alone deserves a woo hoo! With saving so much of our income, I wonder if this account is a waste of time. If I need work done on my car, I can pay for it out of our cash flow. Then again, having this account means I have no excuse if a repair comes up or when it needs maintenance. Little funds like this are extra hassle during good times, but I’m sure it will be a soothing voice when I need it.
It did feel nice during the process to repair my car. $451 isn’t a lot, but it was enough to keep me calm during a boom accident.
Student Loan: $0! At the time of posting, I’ll have less than 2 weeks until my one year student loan free anniversary.
Car Loan: $7,970 ($377) Under $8k! If this were a student loan, it would be gone in a month or two. Unfortunately or fortunately, its a 1% car loan so it will be around for another 18 months.
- Net worth: $72,231. Up $7,512 from last month.
My largest increase yet! So much of it was from my bonus! I’m proud to report that my bonus only went 3 places: Taxes, 401k and the House Fund. Even better, I couldn’t have imagined spending it any differently. :D:D:D
Random Money Fact: I set one of my daily passwords to be my net worth goal. I wanted to get to my goal before the password expired. I am over the moon to report that I got the notification to change the password this week. My goal? $65k. I made it with room to spare!
How was your February? Do you bother with little sinking funds? How have you handled windfalls? Does it all make it into the bucket, or does a little (or a lot) leak out along the way?