Net Worth Update – March 2016

I went over budget for the month of March, but it wasn’t a complete fail. Firstly, about 5 days before the end of the month I realized I had given myself an extra $20 to spend in the “Everything Else” category on mint.com. Oops!  Also, 5 days before the end of the month, I went on a bit of a shopping spree with my mom.  The good thing is, a lot of the shopping was her “gift” to me for graduation, and so my spending wasn’t terrible. Because she took me shopping  though, I paid for all of our meals over the weekend, and I also paid for a new pair of shoes (~$27). She did not like said pair of shoes, so she would not buy them. According to mint.com my spending was as follows:

Category Budgeted Actual Remaining
Rent $1,650 $1,650 $0 left
Fixed Expenses $70 $64 $6 left
Food $200 $193 $7 left
Everything Else $300 $315 $15 over
Total  $2,220  $2,222  $2 over

My net worth managed to increase by ~10%.  A notable event for the month of March included receiving the remainder of my reimbursement, which was a little over $400. I put my hotel stays on my personal credit card to earn reward points. I also think a 401K contribution from the three-paycheck-month of February didn’t post until March 1, so that increased by a bit more than expected as well.  Maybe the market performed well too? I haven’t really been paying too much attention.

Assets Feb-16 Mar-16 $ Change
Cash & Savings $2,575 $491 ($2,084)
Roth IRA $3,613 $5,245 +$1,632
401K $4,595 $5,645 +$1,050
FSA $1,228 $1,228 +$0
Liabilities Feb-16 Mar-16 $ Change
Credit Cards $460 $42 +$418
Medical Exp.  $100 $0 +$100
Net Worth $11,451 $12,567 +$1,116
% Change +10%

Pending Payments

My Cash/Savings are expected to increase by $562 once my FSA reimburses me for medical expenses.  This has no influence on my networth since it’s a transfer, but  my cash balance would be $562 more.

Goals

I would like to put the following short-term goals in writing:

  • Max out my 2015 IRA contributions ($1385) before April 15
    • No contributions for April 25 or May 9 paydays
    • Reinstitute contributions in June (~$210) and then $315 there after.
  • Have $4,000 in liquid assets (i.e. cash) by the end of the year.

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