Net Worth Update – July 2016

July went relatively smoothly. I didn’t overspend and I finally received a sizable and long awaited reimbursment. I also ended up receiving an additional $100 this month when my  lease ended on my old apartment and the subletter decided to finally return my security deposit, albeit 9 months late.

Assets June-16 July-16 $ Change
Cash & Savings $778 $1,374 +$596
Roth IRA $7,922 $8,623 +$701
401K $7,282 $8,115 +$833
FSA $694 $440 ($254)
Liabilities June-16 July-16 $ Change
Credit Cards $1,167 $295 +$872
Net Worth $15,509 $18,258  +$2,749
% Change +17.7%

I had some complications with my health and ended up being out of the office for one full month. Thankfully I can do my job remotely, so loss of employment was not a concern, but this did result in a decline in my FSA.I started off the year with $1,625 in my FSA account. It was important for me to get below the $500 threshold because that is how much I can carry-over into the new year. I got there in July.

My unexpected health issues mean that I will be putting off some dental work until next year. All the medical bills have not come in, and I’m expecting more next month. My doctors and I will also need to decide the best course of action in regards to my health, some of which are quite expensive.

Next year I’m not sure how much I will elect to put in to my FSA. I know I need my wisdom teeth removed in a hospital setting ($700?). I have another crown due, but I can probably hold off. I should use and budget my next year’s FSA for over the counter medications, vitamins, and contact lens solution.  I currently take advantage of reimbursing my transportation expenses to and from doctor appointments.

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