Net Worth Update – December 2019

Just like in November I did a horrible job of keeping track of my finances. I’ve decided to use a different system in 2020, called pen & paper. I received 3 pay checks and my net worth increased:

Liquid AssetsStartEndChange
Cash & Checking$3,800$3,300($500)
Emerg. Fund$8,400$8,400+$0
Savings$2,100$1,300($800)
Brokerage$3,900$3,900+$0
HSA$3,400$3,700+$300
Illiquid AssetsStartEndChange
Home Eq$34,000$40,000+$6,000
401K$73,100$75,800+$2,700
Roth IRA$33,500$34,000+$500
DebtStartEndChange
Loans($3,100)($3,100)+$0
Net$159,100$167,300$8,200
% Change5.2%

The spending amounts below are incorrect and inflated. I bought gifts and the costs were (mostly) split with family members which isn’t accounted for. I have also done a poor job of keeping my sinking funds organized, so the fact that these purchases were actually budgeted for isn’t reflected either. For simplicity, let’s pretend it was a typical month and that none of the aforementioned snafus happened:

CategoryBudgetActualDiff
(1)Bills & Utilities$125$102$23 under
(2)Food$300$311$11 over
(3)Medical$-$475$-
(4)Misc$300$1,066$766 over
(5)Sinking Funds$-$-$-
Total (1+2+4+5)$725$1,479$754 over
Total + Medical (3)$1,954$1,229 over

Based on incorrect assumptions, it was a terrible month in which I went well over budget. In actuality, the overspending was planned and saved for in sinking funds (which is why my net worth statement reflects an $800 decrease in savings). I’ll do better with keeping track of things in 2020. Apologies for a sloppy update for November & December 2019. Happy New Year!

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