Month: June 2016

May 2016 Net Worth

May, May, May. My, my, my.

May was a bit surreal. I worked hard and played hard, but it all felt like play. Most of that was helped by the fact that I was never at my desk, or so it felt.

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I don’t typically travel for business, but apparently I do in May. I had two business trips, one was almost a week and the other was out and back in a day! I felt like a baller that my company would fly me to New York and back in a day, but then I felt like a sucker because that was an incredibly long day. It was even worse that I couldn’t find my car when I got back to the airport. Just me, wandering around in a parking ramp at 11pm at night. Embarrassing!

I was also away from my desk in May because May marks the beginning of my summer hustle. I kept my previous gig from last year and picked up another one. Between the two, my schedule is filling up! I even increased my rate for my new gig. This is how you hustle, right?

[Flashback!]

May 2015: I had a net worth of $36,022 and a mere $3500 in the House Fund. I started hustling!

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 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 2016: An almost there type of Month.

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Liabilities!

Car Loan: $6,840 ($377)  Let’s start with the only milestone of the month! My car loan is under $7000!!! Yippee! Skippy! I’ve been feeling anxious lately to pay it off. It might be a natural byproduct of being a debt destroyer. I’m not comfortable diverting cash to pay this off and as I’ve mentioned, the interest rate is awesome. I’ll have to settle for watching it drop $377/month.

Assets!

Retirement: $37,324(+2,502) May was a solid month for my retirement accounts. I made my contributions as scheduled and the market was kind. What’s frustrating is that I missed a milestone by thhhhaaaaatttt much. It’s not all about milestones, I know, I know. But I love them. They keep me motivated and moving forward. This month I missed 18,000 in my 401k by $52, and a part of me says harrumph. Harrumph, I say! In my IRA, I missed $20,000 by $624 which is almost a bi-weekly contribution. I can’t be mad about that. It’s all water under the bridge now though, because I’m writing this on payday and both accounts have been topped up. Woot! 🙂

I’ve got $40,000 lurking on the horizon. If the market is good, I could get there by June! I’ll try to be patient and expect July. If June happens, I’ll add extra exclamation points.

Taxable: $8,269 No change. I get to update this next month! I’ve checked in on the account and things are looking great! I may make up for 2 consecutive decreases!

Auto Value: $12,069 (-150)  The depreciating asset keeps depreciating.

House Fund: $29,419 (+770) Screeeeeech! May was a horrible month for the House Fund! In the history of this account, I have never had a month contribution less than $1000. I’m breaking records of the wrong kind. Oops.

This account is down for two reasons: 1) I’m diverting cash to the Travel Fund until after we get home from our trip. We leave in less than 3 weeks! I’m over funding that account to pay for this trip and to build it back to a $2000 cushion. You never know when the next adventure may strike, so I want to be ready, and 2) Way less exciting that 1, with my paycheck every 2 weeks and my credit card due monthly, my paychecks got out of sync with the bill. I paid 2 months’ worth of credit card bills this month so they don’t take me to debtor’s prison. I don’t want to go to debtor’s prison.

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<
    • $29,419 down, $15,911 to go!

*I have just over a month until the end of Round 2. Only 2 paychecks left!!

HSA: $6,819 (+348)  A little bit of contributions, a little bit of market. I’ve got bills coming next month. The most exciting thing about this account is that I pay all of Hubs and my health expenses out of this account. I also am only able to contribute at the $3350 level with my HSA. That all is to say that even with all my grips about feet, backs and dislodging my sternum, we are pretty healthy people. A big Hallelujah to not needing any maintenance medication!

Car Fund: $602 (+50) I love the concept of this account, but it feels so silly to update.  $50 Woot! I’ve always had a less than 3 year old car, so the concept of necessary maintenance is foreign to me. I’m sure I will love this account when I need it, but right now it feels like a wasted line item.

{Overall}

Net worth: $87,662. Up $3,897 from last month. 

I’m teetering dangerously close to a pretty excellent round number. Not THEE round number, but a great round number nonetheless. This month really puts my progress over the last few months into perspective. Last month, with a gain of $5200, was my smallest increase of 2016. This month, I cut the legs off that with $3897. But $3897 is fine! It’s great! That’s more than I was able to put on my debt 2 years ago. Perspective, people. Perspective.

How was your May?  Are you hitting your milestones? 

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