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I love the first of the month

November 1st, 2014 at 11:45 am

Somehow I managed to increase my net worth by $6,366.78. Well above my goal of $5,856.

Here's how it breaks down:

House: +$4,395
Beneficiary accounts: +1143.62
IRA: +516.21 ($458 monthly contribution + $58.28 in market appreciation)
Work Retirement: $66.15
Short term savings: $5.81
Long Term savings: $1197.45 ($1000 monthly contribution + $197.45 market appreciation)

However, even though my assets increased, my "debt" also increased too. I don't carry balances on my credit cards (ever) but I did have a spendy month. We went to an out of state wedding and we also have a terrible weakness for eating out. I also paid my property taxes in their enirety this month when I usually pay them in 2 installments. I had the money so I felt it was the right decision. So my checking account had about $1000 less in it than this time last month.

Credit cards +389.25

I definitely can't count on the house to make these type of gains every month but it was great this time! My goal for November is now $5,850.98.

We don't have any plans to go out of town in November so the credit cards should see significantly less use. In October we went out of town 2 weekends. We're also going to try to not only start eating at home more often, but to start freezing left overs for easy lunches. I don't often eat out at lunch but I feel bad every time I do.

3 Responses to “I love the first of the month”

  1. Jenn Says:

    When I calculate my net worth I don't count some things because they fluctuate and then I'm not comparing apples-to-apples each month. Money for property taxes is a good example. Other things I don't count: kids' 529 plans, checking accounts, depreciating assets (cars, furnishings), and money ear-marked for vacations or insurance payments.

    It's great to pay property taxes (and life/car insurance) in one annual payment instead of having to think about it more often. It sounds like you're doing things right!

  2. snafu Says:

    I recommend you search 'Investment Risk Tolerance Quiz', I hope the link I offer as an example works.

  3. jokeabee Says:

    Hi Jenn! When I had a car loan I counted that as debt, but didn't count my car as an asset. I still don't count the car because I don't count on ever having to sell it until it needs to be replaced. I happen to keep 2-3 months of expenses in my checking account so I do count that. But I wouldn't count a 529 plan.

    Thanks for the link snafu!

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