Net Worth Updates

0 613

It’s about time I catch up on these postings as I’m a few months behind…

I’m not really sure what to say about the numbers being that it’s been so long but I will say that I’ve happy to report that things are moving in the right direction.

February was a wonky month for me — for the first time EVER, I didn’t file my taxes in February and didn’t even start doing them so I was a little cautious with my spending.

Not sure it that’s a good thing or a bad thing but I’m happy with where the numbers (that I calculating in MAY!?) fell.

Oh, and pay no mind to the red and green colours on the chart — they’re all screwed up but the numbers are correct.

2 874

February 2013 Net WorthWow. What happened?

I mean, I take a month and a half off and my net worth increases by $10k and I’m suddenly carrying credit card debt again…

Now, of course, I’ll take the $10k gain any time, I mean, that’s nothing to sneeze at. I’m on the verge of doing my best Vanilla Ice dance to celebrate my seemingly effortless gains.

But in reality, since I haven’t been keeping up on my finances here, things have sorta been, well, aimlessly out of control.

Sure I gained a huge amount but that was really nothing more than luck. It had nothing to do with any recent decision of mine.

The new found debt, however, was because there wasn’t anyone behind the wheel. No doubt about it.

I spent.

I spent some more.

Then I spent more.

And then I thought I had more in my checking account than I really did.

And then I “borrowed” from savings.

And then I spent.

It’s been at least 5 years since I’ve gone on a tear like that — spending like crazy on, well, “nothing”.

The reason it hasn’t happened in so long is because I normally stay on top of my finances — on a DAILY basis.

Keeps me in check, you know?

Well, that hasn’t been happening and the fact that my 401k and home value bailed me out this month doesn’t mean that I’m a-okay with the past 45 days.

I’m not.

I’m pissed, actually.

I mean, I’m supposed to be like halfway to being able to pay for the new garage I was to break ground on this year.

Guess what?

I’ve got nothing.

So,now that it’s March, it’s time to get real.

0 1880

January 2013 Net WorthFirst off, Happy New Year!

I’m starting 2013 in a pretty cushy position.

Okay, maybe that’s an exaggeration but when looking back at the archives, I’m in a better spot now, financially, than I was in January of 2012, and an even better spot than I was in January 2011. Things are on the right track, it seems.

So here goes…

Cash:
I’m actually surprised this is where it is considering all of the Christmas related bills I paid over the past week or so.

Savings:
Struggling here a bit but still on track. I had to “borrow” around $1000 to cover Christmas but never had to dip into my emergency fund or my “property tax” savings.

I pay my homeowners insurance and property tax directly so as to keep my mortgage payment low (and stable). There is no escrow account. I’m only able to do that, though, if I budget correctly so that when those bills come due, I have the funds available.

As such, I never stopped my weekly contributions which total $316 per week. Yeah, per week. At least half of which are slated to go towards taxes.

Stocks:
Well, well… This is a new category for me. Last month, I decided to sell off all of my I-Bonds (earning $2 per month) and, instead, buy stock on the thought that I could do better than two bucks a month.

I invested $750 on December 11th, paid $28 in commission, and earned a $50 bonus just for opening an account with Sharebuilder.

Omitting the bonus from the calculation, my $722 investment ($750 minus the $28 commission) is currently worth $740.05. Yeah, it’s official, I can do better than $2 per month.

I also have a better grasp on how it all works now too so I won’t be paying such a high commission again — thankfully the “bonus” more than covered my initial investment fee.

Gov’t Bonds:
So long… It only took me a year’s worth of dragging my feet but I finally sold all of them.

401k:
Just adding more fuel to the fire that it takes money to make money. With a fiscal cliff looming and zero contributions, somehow I find myself adding another $2k to my pile.

Home:
Can you imagine what this will look like when (I mean, if) I build a new garage in 2013?

Auto 1, Auto 2, and Auto 3:
For once, these values pretty much make sense. Their values *should* be dropping.

Credit Card:
Who rang up a couple thousand on plastic this Christmas season and still managed to pay it all off before the New Year? Yeah, this guy.

Auto Loans and Other Loans:
Zilch. Zero. Nada.

Mortgage:
Just another minimum payment.

0 571

December 2012 Net WorthFinishing out the year on a high note with a new all-time high and it feels good.

I’m right at the onset of a pretty big transition regarding how I manage and “make” my money. It’s more of an experiment than anything else but I’m hoping it’ll give me a crazy expensive Christmas and propel me past the financial wall I seem to find myself looking up at.

Sure, my net worth is going up, seemingly continually without much effort, but I still “feel” pretty broke. The governemnt bonds are (and have been) a complete joke, the savings rate is essentially nothing, and I’m hardly contributing to my 401k. There’s a better way to make your money grow than what I’ve been doing so… I’ll be getting that going this month.

Cash:
November was a three paycheck month for me so this number is skewed.

Savings:
Aye Caruba?! Well, I piad my property taxes a month early just to get it in the books… and kinda to pad this month’s net worth report. See, with that third paycheck on the income side, I could afford to make a huge tax payment and not have it create a HUGE slope change in my net worth. Sneaky, huh?

Gov’t Bonds
Come December 3, these are toast. I’m finally doing it. While their earning a really nice interest rate (compared to today’s rates), there just isn’t enough month there to make them worth keeping. They’ll be redeemed on December 3rd and the money will be “used” elsewhere shortly thereafter.

401k:
Just waiting for this fiscal cliff to knock like 30% of this away…cause politicians are stupid.

Home:
I’m not really sure why this is rising. I haven’t seen any nearby homes sell lately and my garage is only getting worse.

Auto 1, Auto 2, and Auto 3:
Another head scratcher here… I guess BMW’s make great Christmas presents so their value rises this time of year? Maybe?

Credit Cards:
Yeah, that’s right. Christmas with a zero balance.

Auto Loans and Other Loans:
Zilch. Zero. Nada.

Mortgage:
Just another minimum payment.

0 567

November 2012 Net WorthIt’s funny how perception can deceive you.

I mean, I’ve felt like I’ve been on a pretty good run lately, keeping my expenses relatively low and my income has been up a bit.

At least that’s what I thought was happening…

Cash:
A couple medium sized side-business payments came in at the tail end of the month to boost this up a bit.

Savings:
I’ve been stashing away over $1300 per month here but, like last month, I had to “borrow” hundreds of dollars from myself to pay for and/or down other things. This past month it was for that sideline credit card that was getting a little heavy.

That doesn’t bother me so much — it’s the fact that saving up for a new garage is looking more and more formidable as my piggy bank fails to grow at the rate I’d expected.

Worse yet, I might need to dip into savings again this month to pay my homeowners insurance premium (on which I paid a monthly installment for the first time ever just a few weeks ago)…

Three months in a row of taking out over half of what I’ve put in… Not a path to success.

Gov’t Bonds:
Another month, another two bucks!

401k:
2012 is looking to be a pretty flat year. Or maybe the fact that I stopped contributing (over a year ago) is just now starting to be noticeable?

Home:
The news might have you believe that Hurricane Sandy also wiped out much of Connecticut but my house is doing just fine.

Auto 1, Auto 2, and Auto 3:
If you offered me $20,880 for these three cars today, I’d gladly hand over the keys. Offers? Anyone?

Credit Cards:
So while my net worth went down this month, my ability to keep the credit card balance at zero cancels out any downward feelings. I’m living within my means. And Christmas time is always more fun with a clean credit card balance!

Auto Loans and Other Loans:
Zilch. Zero. Nada.

Mortgage:
Another minimum payment.

1 612

October 2012 Net WorthYeah, yeah… It’s been a month since my last post…

I know, I know…

Every time I fall way behind like this, I tend to lose focus. I still keep track of my finances but I don’t really analyze them.

Pretty stupid considering I’m just beginning my quest to build a new garage

So this info feels like ancient history at this point but for the sake of having a monthy net worth update, here goes:

Cash:
Same old story. Just treading water here.

Savings:
This was weak. I’ve been stashing away around $1300 each month but came up short right at the tail end of September and had to “borrow” $600 from myself. I say “borrow” but I just spent it. Just keepin’ it real, folks.

Gov’t Bonds:
Another month, another two bucks!

401k:
It’s up! It’s down. Just dumb luck that I was “up” on the last day of the month. This has been swaying back and forth between $130k and $137k from week to week.

Home:
I’m not selling so this number doesn’t really hold a lot of weight for me.

Auto 1, Auto 2, and Auto 3:
It’s hilarious to me that the oldest car I own is “apparently” worth the most. It’s also hilarious that it all adds up like that considering it’s the one that was in a big accident.

Credit Cards:
Sometimes I can’t believe that I used to routinely carry $25k+ balances here… For real — check the archives!

Auto Loans and Other Loans:
Zilch. Zero. Nada.

Mortgage:
Back to the minimum payment again…

0 509

September 2012 Net Worth UpdateConsidering how much I spent last month, I’m a little suprised that it turned out to be a positive month…

Cash:
Direct result of my spending is clear right here.

Making matters worse, I briefly fell below the $1500 minimum so I’ll get dinged with a Bank of America maintenace fee of some sort soon.

Yep, $2.96 under the threshold for less than 6 hours because of the Labor Day holiday will cost my $14 or so… Love this bank.

Savings:
So, for the past few weeks, I’ve been hinting at the fact that I’m saving up for something BIG. This is proof that I’m pretty serious about it.

Gov’t Bonds
I earns just a couple of bucks per month but the fixed portion of the interest rate that these I-Bonds are earning is just too good to let go of. But, again, I’m earning like $30 per year on these… It’d be sweet if I had a 5-figure balance in here but with such a small balance, there’s a frequent internal debate on whether or not to hold on to these…

401k:
Must be that stumbling economy or something

Home:
Eh, I’ll take it.

Auto 1, Auto 2, and Auto 3:
Apparently banged up Land Rovers are in demand these days… Who’da thunk?

Credit Cards:
My oldest son often says “I told you!” and that’s what I’ll say here too… The Credit Card Balance on last month’s update was a total fluke. I told you I’d pay it off.

Auto Loans and Other Loans:
Nothing to report.

Mortgage:
Did you know that paying an extra $25 towards your mortgage each week early on can knock 10 full years off of the term? You might want to look into that…

Anyway, of late, I’ve been tossing a few dollars towards principle each month to make my balance fall in nice $250 increments. Gone are the days (early 2010) when I was knocking $1k per month off… I’m still not sure how I was able to do that… I kinda wish I still could…

1 699

August 2012 Net WorthThere are only two words needed to describe the month of July…

Taxes and Vacation.

Overall, besides moving a bunch from savings to cover the costs of vacation and my local property taxes, pretty much everything else was business as usual.

I did, however, start some extra payments on the mortgage. Nothing major and nothing that I plan to continue in the near future.

Basically, my mortgage company claims that they allow “one” extra payment per year and any additional payments will come with a $15 fee.

I was testing them — four extra payments were made and there wasn’t a fee to be had. Yet, anyway…

So I’ve concluded that it’s one of those e-payment scenarios where if you initiate it on their end, there’s a fee, but if you initiate it on your bank’s end, it’s free.

Lastly, you may have noticed that I carried a credit card balance this month. That was because I was on vacation — had I been home, I’d have paid the balance in full at the end of the month like I usually do.

If you’re truly worried, don’t be. There won’t be any finance charges! :0)

Can You Dig It?

196FollowersFollow
62FollowersFollow