You’d never know by looking at my net worth progress, but January was a roller-coaster of a month. I wasn’t sure when and if I’d be receiving a paycheck thanks to a wall. Things turned out well, as I eluded, and I hit a net worth of $100,000!
| Liquid Assets | Start | End | $ Change |
|---|---|---|---|
| Cash & Checking | $1,575 | $2,025 | +$450 |
| Emergency Fund | $5,700 | $5,750 | +$50 |
| Savings Goals | $775 | $775 | +$0 |
| Brokerage Accts | $1,200 | $1,400 | +$200 |
| HSA | $0 | $275 | +$275 |
| Illiquid Assets | Start | End | $ Change |
| Savings Bonds | $1,375 | $1,375 | +$0 |
| Home Equity | $27,825 | $28, 375 | +$550 |
| 401K | $39,525 | $45,375 | +$5,850 |
| Roth IRA | $23,325 | $25,875 | +$2,550 |
| Liabilities | Start | End | $ Change |
| Loans | ($4,175) | ($4,025) | +$150 |
| Net Worth | $97,125 | $107,200 | +$10,075 |
| % Change | +10.4% |
After a terrible performance in December, it comes as no surprise that the markets rebounded in January. The rebound explains roughly 60% of the increase in my net worth. Another 25% can be explained by my contributions to my 401k, HSA, and Roth IRA. I’m too lazy to figure out where the remaining 15% came from. But I’m happy about that too!
Now that I’m a 6-figure-aire, I’d like to work towards hitting a $100k net worth figure without home equity taken into account.
Spending
Even though I mentioned developing a new budget for 2019 in previous posts, I’ve decided to stick with my 2018 budget with two notable changes:
(1) Any left over $$ will roll over into the next month, and
(2) Medical expenses will now be budgeted. I am trying to cash flow these expenses and not touch my HSA
| Category | Budgeted | Actual | Remaining |
|---|---|---|---|
| (1) Bills & Utilities | $175 | $135 | $40 left |
| (2) Food | $300 | $166 | $134 left |
| (3) Medical | $- | $79 | $79 over |
| (4) Everything Else | $300 | $278 | $22 left |
| Total (1+2+3+4) | $775 | $658 | $117 left |
I would like to note that I have already met my ~$1,500 deductible for the year thanks to patient assistance for one of my medications.
Lessons Learned
One thing I learned from the shutdown is that I really need to build up my emergency fund. I would like to get it up to an even $10,000 but I don’t see that happening anytime soon.
February-ish
- Medical appointments (estimated cost of ~$150)
- I’m switching cell phone carriers (estimated savings $25/month)
A Tale of Finances 