It’s number time!
| Liquid Assets | Jan-17 | Feb-17 | $ Change |
|---|---|---|---|
| Cash & Savings | $1,200 | $1,425 | +$225 |
| Emergency Fund | $2501 | $3,009 | +$508 |
| Short Term Savings | $75 | $300 | +$225 |
| Long Term Savings | $43 | $144 | +$101 |
| Other | $303 | $0 | ($303) |
| Illiquid Assets | Jan-17 | Feb-17 | $ Change |
| Brokerage | $197 | +$197 | |
| Savings Bonds | $500 | $1,315 | +$815 |
| Retirement Accts | Jan-17 | Feb-17 | $ Change |
| Roth IRA | $12,824 | $13,600 | +$776 |
| Traditional 401K | $13,126 | $15,364 | +$2,238 |
| Liabilities | Jan-17 | Feb-17 | $ Change |
| Medical | ($100) | ($0) | +$100 |
| Net Worth | $30,472 | $35,353 | +$4,882 |
| % Change | +16.0% | ||
My net worth increased by close to $5,000 this month!
The increase was mostly due to my tax returns. I’m not aiming for a sizable tax return next year. I only did so this tax season because I knew I’d be tempted to dip into my emergency fund during my first year of work. So I let Uncle Sam hold onto my emergency fund. Now that I’m through the rough year, I won’t have to resort to such measures.
I love how my net worth went from $20K to $25k to $30K over the past 3 months. It was a good run, but I don’t anticipate on keeping that momentum going.
Goal Progression:
| Fund/Goal | Contrib. | Total | Goal | Progress |
|---|---|---|---|---|
| 401K | $1476 | $2,510 | $18,000 | 13.9% |
| Roth IRA | $398 | $1,219 | $5,500 | 22.2% |
| Emergency Fund | $1,323 | $4,324 | $5,500 | 78.7% |
| Vacation Fund | $225 | $300 | $500 | 60.0% |
| Vanguard Fund | $101 | $144 | $3,000 | 4.8% |
| February Stretch | $- | $6,390 | $5,570 | 111.1% |
I’m on track for meeting all of my goals, and I’ve started two new ones. My vacation fund is in my short-term savings account and my Vanguard Fund is in my long-term savings account. My vacation funds need to be accumulated by April. I have no specific timeline on my vanguard fund.
Oh and I surpassed my February stretch goal of having $5,750 in liquid and illiquid assets. I even met my March stretch goal. Using my goal post trajectory, I also surpassed my April goal. This allowed for my vacation in April which was a spur of the moment decision I did not budget for.
So how did my budgeting go this month?
| Category | Budgeted | Actual | Remaining |
|---|---|---|---|
| Rent | $1,650 | $1,650 | $0 left |
| Fixed Expenses | $100 | $146 | $46 over |
| Medical | $- | $73 | |
| Food | $200 | $163 | $37 left |
| Everything Else | $315 | $286 | $29 left |
| Total | $2,265 | $2,252 | $20 left |
- Rent: I paid the usual: a lot. I choose to live close to work.
- Food: I was $37 under my food budget!
- Fixed Expenses: I went over $46 because I decided to trial Sling TV (not keeping). I also kind of wanted the Roku that came with the trial.
- Medical Expense: While I don’t budget for medical expenses, I finally received a medical bill that was long anticipated.
- Everything Else: I gave myself an extra $65 to spend on “Everything Else” due to $65 extra income. Notables for this month include purchasing 4 plane tickets for 2 vacations and also partially funding a hostel stay. Thanks to credit card rewards I didn’t spend a whole lot on any of this.
Even with the overage in the Fixed Expense category I still managed to come $20 under my budget. The $20 has been transferred to my long-term savings account.
March should be another straightforward month. April may be a bit more interesting since I’m going on my first vacation. This is a 10-day international trip. I would love to keep my spending on this trip under $500, but I think $750 may even be a stretch. We will see!
A Tale of Finances 