Wow – Up 9Gs!! I honestly didn’t see that one coming… Esp. since we just had to fork over $7,000 in taxes ‘cuz someone was a naughty little boy last year, haha… but hey, I’ll take it ;)
Lots of crazy fluctuations going on this month. As you can see our cash reserves took a big nose dive as expected, but on the other hand our retirement accounts were freakin’ on fire! And that’s without some big news that’s about to hit in that department (I’ve actually got a post drafted up just waiting to come out and play- debating if it’s legally smart of me to do so though unlike the last news I just spilled :) We’ll see…)
Overall I’m pretty happy. I haven’t watched my money this hard since back in the college days! Here’s the latest roundup:
Net Worth Break Down: February, 2011
CASH SAVINGS (-$7,566.35): This one LOOKS pretty scary, but don’t let that big ol’ number fool ya. $5,000+ of it went right into my new SEP IRA account! So it’s technically not cash anymore, but it’s not like I went out and spent it or anything ;) Although as I mentioned I did have to give up $7,000ish due to taxes from last year too. And that was def. thrown out the window… all in all we lost about $2,500 this month. Not good in a general sense, but not too shabby due to the circumstances.
EMERGENCY FUND (+$124.33): We’re slowly building it back up to $10,000! As you know from last month, we decided to take out a chunk and finally wipe out the rest of our pesky credit card charges I had been failing to do for the last few months. My plan to re-pay with extra money saved from good budgeting just wasn’t panning out like I’d expected ;) Which, looking back, was only a matter of timing. We beat our budget by over $600 this month!
*NEW –> SEP IRA (+$5,107.01): Woo! LOVE me some new retirement accounts. Esp ones that come out of nowhere and HELP me, haha… I gotta give my accountant mad respect for that one. Not only did she save me $2,000 after all the tax stuff was done, but she gave me something exciting to look forward to again. I was just starting to miss my old 401(k)!
ROTH IRAs (+$3,201.79): Win-win-win! Did nothing, and got money for doing so ;) I’d like to think it’s my awesome ability to pick out great stocks, but I’m pretty sure the market just had a great run last month. Either way, the end result’s the same.
401(k)s (+$8,898.25): Same here! With the minor exception of that little ditty I mentioned in the second paragraph up there from the top. I really don’t know how much longer I can keep that in…
AUTOS WORTH (kbb) (-$275) : Nothing too out of the ordinary here. Just glad it’s reflecting negative again and not some crazy increase of $500 like last month! I wonder if KBB just fools with us sometimes for the fun of it? That would be hilarious :)
HOME VALUE (Realtor) ($0.00): No change again here – still set at the same $300k our realtor appraised it at a while ago. We still dream of renting it out and moving back into a smaller place closer to the city, but with everything that’s going on lately it kinda remains at the wayside. I bet by Spring/Summer we’ll be energized and ready to get back to searching again.
CREDIT CARDS ($0.00): Nada mucho in this department anymore. Scrapped it all last month and now feeling back to our normal selves…
MORTGAGES (-$52.57): Well, this number SHOULD actually be in the positives, but due to the timing of the way I did things this month I guess it just wasn’t accounted for in time. We’ll see a nicer difference come next month though – gotta keep up my record of paying a little extra off every cycle!
- Mortgage #1: $286,338.40 – 30 year fixed, interest-only @ 6.875%.
- Mortgage #2: $62,222.09 – Maxed out HELOC w/ 2.8% interest.
And that’s that. Another solid month banked away. How did you guys fair this time around? Anything new and exciting happen to your accounts? Anything crazy? If you’ve learned anything cool, let us know :) Gotta keep taking in that knowledge…
PS: I’ve updated my “Sexy Goals” over in the sidebar to include my newest aim for the SEP. I’m not sure if $10,000 is a realistic number to hit just yet, but figured I’d set it high and then see if the powers to be make it possible :) Still getting used to predicting my income.
- The "Budget/Net Worth" spreadsheet - the colorful Excel template I personally use.
- The "Money Snapshot" spreadsheet - a simple Excel template I created for my former $$$ clients
- PersonalCapital.com (free) - a great way to track your net worth AND investments. You can see our full review of them here: Why I Use Personal Capital Almost Every Single Day
- Mint.com (free) - the original lazy way to automate your budget/net worth