I have a monthly update problem.
I get super excited at the end of the month to write an update. I usually waste my time by collecting the numbers piece by piece. Sometimes I even try to estimate my monthly savings account interest so I can predict my end numbers. This is a lovely use of time. /s. What makes it horrible is that my HSA and 401k don’t update until the day after the end of the month and my 401k can only be accessed at work. Then for no good reason, the first week of the month is always the busiest, which why I’m writing a net worth update on May 10.
Let’s talk about April.
I got a taste of a whole different world. I did an interview in April about my student loans. The article was over at StudentLoanHero. I shared a unique part of my story that I don’t talk about much over here. You can find the article here.
Other than that it was a whole lot of work and normal life. I’m starting to realize why adults think time flies by. Without life milestones, it all kind of blurs together.
April 2015: My first month as a saver! My loans were paid off and I had a whole $2203 in the house fund. I had a net worth of $32,869.
April 2014: I owed $34,985 on my student loans.
April 2016: Another Great Month!
Car Loan: $7,217 ($377) Slow and steady progress with my 1% car loan.
Retirement: $34,822(+2,202) This month was a lot of contributions and little help from the market. It’s pretty crazy that without any help from the market, I contribute roughly $1950 to this line item every month. I’m a little higher than that because I didn’t contribute to my IRA the first few weeks of the year. It’s been an incredible mindset shift from saving a few hundred per month to now saving roughly TWO THOUSAND per month for retirement. Old Kate is incredibly happy with young Kate right now.
Taxable: $8,269 No change.
Auto Value: $12,219 (-150) The depreciating asset keeps depreciating.
House Fund: $28,649 (+2,509) Another month roughly around average. I shifted around a lot of savings in May so the House Fund contributions will be way down. I’m taking a moment to appreciate how big this is. Next month it won’t be so fluffy!
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) ✔
- Big Momma: $45,330 (Loan value: $20,377) >in progress<
- $28,649 down, $16,681 to go!
HSA: $6,471 (+297) Mostly contributions, just like my retirement accounts. No bills this month, so that’s exciting.
Car Fund: $552 (+51) Look! Another $1 in interest! My maintenance minder came on this month, so I’ll need to get that taken care of. It shouldn’t be too expensive, so my hope is to cash flow that and leave this alone.
Net worth: $83,765. Up $5,286 from last month.
This is my lowest increase of the year so far, but that only means I’ve been having a great year. It is exciting to be over $80k. I’m only a few months away from $100k! It’s hard to wrap my head around that. … I wonder how long I’ll feel I’m behind financially. I seem to be making up a lot of time.
How was your April? Are you on track for where you thought you’d be?