Net Worth Update – February 2017

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 Slow and Steady Portfolio Rebalance Explained

Now that my 401K and Roth IRA are decent sizes, I realize it’s time to evaluate my portfolio and rebalance accordingly. For a while I had my entire Roth and 401K invested in target retirement accounts. I decided to do this until I felt a bit more comfortable with investing in general. Now that I do, it’s definitely time to change my investment strategy. I’m not going to do this all at once, instead I’ll do this slowly as I make my biweekly contributions.

My 401K has some fairly limited options so I have to balance it out using my Roth that is through Vanguard, using a weighted average of both my 401K and Roth retirement accounts, my current retirement assets are allocated as follows:

  • US Stock – 63.8%
  • World Stock – 24.0%
  • US Bonds – 8.4%
  • International Bonds – 1.4%
  • US Real Estate – 2.2%
  • Cash – 0.2%

I’m pretty happy with this allocation considering that I’ve pulled myself out of my employer’s target retirement account and created my own mix. I’m roughly 10% bonds and 90% percent stock. And my stocks are split 72% US and 28% foreign.

Goal #1

My first goal is to increase my US Real Estate holdings so that it comprises 5% of my portfolio.  I hope to have this goal accomplished by the end of the year.

Goal #2

My second goal is to get into the habit of evaluating my portfolio and investment strategy biannually. I think February and July are good months to do this. It’s highly probable that my real estate investments may grow at a different pace than my stocks and/or bonds, so it’s important that I do this.

Of course the general economic environment will also guide my investments. A market correction may lead me to pour more into the stock market, for instance.

Goal #3

I would then like to start investing in International Real Estate until it makes up 2.5% of my portfolio. Hopefully this goal will be accomplished by the end of 2018.

Goal #4

My fourth goal, is to have enough to purchase a Vanguard admiral share. I’m still investing in a target fund at this point. Once I have enough money to do so, I can then move into a world stock mutual fund and mutual funds for bonds. Until then, this system works well enough. I think it will be 3 years before I can get to this point.

I did some calculations and I will eventually have to balance out my 401K with my Roth by having my Roth be:

  • 43% International
  • 31% Real Estate
  • 19% US Stock
  • 7% Bonds

 

Paycheck Allocation

The promotion I received a few months back has been a definite game changer. I am no longer living paycheck to paycheck. I can’t believe how hard it is to live in DC on a $65K salary! But when you consider that the average apartment rent is $2,200 in the city, it makes sense. According to this article, one needs to make $83,104 annually to live comfortably in DC versus $53,897 in nearby Baltimore. I’m now pretty close to that “comfortable” threshold and I can totally feel the difference!

The interesting thing is my paychecks are actually smaller this year than last. This is because of my new goal to max out my 401K. I am still more at ease because I now have an emergency fund, and I know I can cut back on my 401K contributions at any time if necessary. Now that I’m more comfortable with where I stand, I changed how I plan to allocate my paychecks.

The Friday before I am paid, I have money from my main checking account distributed to my other accounts. This gives me a false sense of never seeing the money coming out of my checking account. The following is transfers occur:

  • +$195 – Roth IRA
  • +$65 – Savings Bonds
  • +$50 – Short Term Savings

Then on that Monday my paycheck is deposited. The remainder of my paycheck goes towards my monthly expenses and there is some left over to act as a cash buffer in  case I go over budget.

My plan is not to let my checking account/cash buffer get too high. So any time  my checking account gets to be over $2,500, I’ll be transferring the excess over to another account.

Net Worth Update – January 2017

After December I generally find Januarys easy to handle, at least in the financial sense. This January was no exception. This is where my accounts stand:

Liquid Assets Dec-16 Jan-17 $ Change
Cash & Savings $832 $1,200  +$368
Emergency Fund  $1,500 $2,501  +$1,001
Short Term Savings $0 $75  +$75
Long-Term Savings $0 $43  +$43
Other $290 $303 +$13
Illiquid Assets Dec-16 Jan-17 $ Change
Savings Bonds $0 $500  +$500
Roth IRA $11,756 $12,824  +$1,068
Traditional 401K $11,521- $13,126  +$1,605
Liabilities Dec-16 Jan-16 $ Change
Credit Cards $0 $0 +$0
Medical ($175) ($100) +$75
Net Worth $25,724 $30,472 +$4,748
% Change +18.5%

Liquid Assets:

According to my Goal post , if everything went as planned in January, my liquid assets should have increased by $1,950. Collectively, my Liquid Assets increased by exactly $1,500 – $450 below target. The main reason why I missed this target is due to transfers into illiquid savings. I contributed a bit extra to my Roth IRA and I decided to turn towards i-savings bonds. When these are taken into account I actually saved and invested $2,165.

One change to my financial plan is the fact that I opened accounts for my short and long term savings goals. I will make a post on what these goals are soon. My long term savings will eventually be transferred to a brokerage account.

Illiquid Assets: 

The second change in my financial plan is the slow movement of my emergency fund over to i-savings bonds. I haven’t quite figured out my contribution schedule for this yet since I won’t be able to touch these funds for 12 months (this is why they are listed as illiquid right now). But the interest rates are better than banking. I’ll most likely purchase a $500 savings bond with my tax returns.

My retirement accounts increased nicely. As stated in an earlier post, the first two 401K  contributions were small the third was $738. Subsequent contributions will continue to be $738 to reach $18,000 by the end of the year.

Liabilities: 

I decided not to carry over any credit card debt this month and I would like to get into that habit. I still have medical bills to pay though.

Budget

As I said previously, January tends to be good on the budget. I did change my budget slightly from the beginning of the month. Namely, I increased my “Everything Else” expenses by $300 due to receiving $100 as a late Christmas present and a  $200 banking reward.

Category Budgeted Actual Remaining
Rent $1,650 $1,650 $0 left
Fixed Expenses $100 $89 $11 left
Food $200 $192 $8 left
Medical $440
Travel $77 $77 $0 left
Everything Else* $373 $423 $50 over
Total  $2,400  $2,431 $31 over

I ended up spending $100 on an Amazon prime membership, and $75 on a toothbrush. I’m hoping the toothbrush saves on some of my dental bills.  I gave $25 to a friend and don’t expect it back. I spent the rest here and there on various things, such as booking a hostel for an upcoming trip .

I don’t budget for medical expenses because my health is too important to place an upper limit on my spending.I spent $440 on medical expenses this month but I don’t anticipate that this spending category will affect my net worth for a while due to a well padded FSA and a health based rewards card provided by my insurance company. If I remember correctly it was around April when I depleted my FSA and rewards card last year. My health is much better this year, so I’m hoping they’ll last the entire year

Taxes

I finished up my tax returns this month and it will be larger than anticipated. I should be receiving the federal portion on February 5. I am not sure how long it will take to receive the state portion.

Here is how I plan to allocate my return:

  • $500 in Emergency Fund
  • $500 in i-Savings Bonds
  • $100 in healthcare expenses
  • $70 Fun Money

The remainder will go towards my cash buffer in my primary checking account

Conclusions & Next Month

This was an incredible month. I stuck to my game plan and was able to save $215 more than I originally anticipated. Going back to my goal post, with taxes coming up next month, my goal was to increase my liquid assets by $1,125. I am going to roll over the extra savings from this month so I need to increase my liquid assets and savings bond category by $910 to stay on track.

Right now I have $4,622 in liquid assets and savings bonds. My goals now are:

  • February Goal: $5500
  • February Stretch: $5750
  • March Goal: $5750
  • March Stretch: $6000

Why I (currently) Have a Tiny Emergency Fund

I’ve gotten a few comments in the forums that I frequent about my dismal emergency fund. Right now I’m sitting on an emergency fund of $2,000 which isn’t even enough to cover one month’s expenses. The first thing I would like to say is I am working on building my emergency fund in 2017. If the stars properly align, I may even have a 3 month emergency fund in a couple of months.  Secondly I’m just going to admit that I am being gutsy.

When I first learned about the goodness of Roth IRAs my first inclination was to max it out. I read about the power of compound interest. I wanted the compound interest. I also read how an uninvested Roth IRA could serve as an emergency fund. I really just wanted the compound interest. So I invested my Roth IRA and went without an emergency fund for all of 2016. I worked on maxing out my Roth IRA for both 2015 and 2016 within the 2016 calendar year.  Maybe this is a taboo move in the personal finance blogosphere but hey I did what I wanted.

Still I wasn’t totally without access to “emergency” funds. I established an FSA account in 2016 knowing I had some costly health problems. This helped shelter the blow  of several thousand dollars in medical costs. I fully anticipate 2017 will be a year of high medical costs  due to the nature of my chronic illness. I hope it’s surprisingly less expensive, but I went ahead and funded my FSA even more than last year.  I also purchased disability insurance.  It’s also important to note that my retirement accounts serve as emergency funds for early disability retirement.

I became less compelled to establish an emergency fund as certain dates drew near. In September my lease ended and I began to rent my apartment month-to-month.  This means that if I do experience an emergency the $1,650 I spend in rent can be slashed very quickly.  My family also moved into the area and I now had a place to stay should I experience the emergency of all emergencies. My disability insurance will be effective in 3 months. Once it is effective, if I do get sick or injured I shouldn’t be without income for too long.

So I have no liabilities, and no recurring monthly expenses that are absolutely set in stone other than a $30 cell phone bill. In the worst situation I’d be able to lower my monthly expenses to about $1,000 by moving out of my apartment, placing everything in storage and moving in with my parents. I know one might think that relying on parents for emergencies may burden them, but that’s definitely not the case for my family.My intention wouldn’t be to rely on them financially, but just to have a place to stay. I have been 100% independent since I turned 18. When my older sister lost her job a few years ago, my parents wanted her to move in right away to minimize the damage to her finances.  It’s easier for everyone when you remain in the green versus the red.

So for all those reasons I focused on maxing out my Roth IRA, largely ignoring my emergency fund. I don’t regret my strategy probably because I had no real emergencies. As I said, I’m working on establishing my emergency fund in 2017. January is a month in which I will be seeing three paychecks. Since I only budget for two, the third paycheck will go directly to my emergency fund. It’s the end of the first week in January and my liquid holdings currently stand at:

  • Checking & Savings: $1,000
  • Emergency Fund: $2,000

According to the schedule I laid out, I expect to have an emergency fund large enough to cover 2 months of living expenses ($4,400) by the end of March.  My goal is to have an emergency fund of  $5,500 by the end of the year with an ultimate goal of $10,000 within the next 2-3 years.  Most likely I will be investing anything over $5,500.

Another mental note I’d like to make is that should I experience an emergency in 2017, I will be able to increase my income by $400 a paycheck by lowering my retirement contributions.  Even if I were to become unemployed, my paycheck is delayed enough to do this at least twice, for an additional $800 in one month.

 

Goals: 2017

It’s been one year since I’ve started to budget and diligently track my finances. As mentioned previously, 2016 went by fairly smoothly, with no real surprises. While I didn’t quite meet all my financial goals, it was an impressively successful year. I received a promotion towards the end of 2016, which will make 2017 that much more interesting. The promotion  increased my income from a $65k annual salary to $80k.  Now thanks to the extra $15k in income, I have some new financial objectives that weren’t otherwise obtainable. My goals for 2017 are as follows:

  1. Maximizing 401K and Roth Contributions
  2. Building emergency fund to $5,500
  3. Planning 1-2 international trips (Asia & possibly Europe)

The plan to reach these goals is to start the year off fast and furious by doubling my emergency fund by the end of this month. January just so happens to be a month in which I’ll receive three pay checks, so this shouldn’t be hard…barring an emergency. For the first quarter of 2017 I’ll follow the saving and investing schedule below:

Date Roth IRA 401K Savings
2-Jan $212 $154 $475
16-Jan $212 $154 $475
30-Jan $212 $738 $1,000*
13-Feb $212 $738 $1,000**
27-Feb $212 $738 $125
12-Mar $212 $738 $125
26-Mar $212 $738 $125

*-three pay period month!
**-tax return

I chose this contribution schedule because it’s easier (for me) to save large lump sums  rather than small sums spread out over 26 pay periods.  The first two pay periods I will only contribute 5% of my salary towards my 401K (to obtain my employer match). The next 24 pay periods should consist of equal $738 contributions to my 401k.

These financial goals are a bit of a stretch. I spent on average ~$2,500/month in 2016.  The plan was to spend only $2,200/month and that remains the plan for 2017.  Due to the  increase in 401K contributions and the increase in deductions for items such as health insurance, my take-home pay will be $200 lower a month than in 2016. I have a lot less room to make mistakes.

I plan to use my Chase points to pay for my international travel. I have joined the league of credit card point churners.

Open Season and Choosing a Plan

When it’s open season I’ve had several friends come and ask me which insurance plan they should choose. Obviously everyone’s health situation is different, but I’m going to briefly explain the process I use when I choose my insurance carriers. I am not going to include the pros and cons of high deductible health care plans (HDHPs) in this analysis for simplicity. So I am going to assume that this is for more risk averse individuals, or individuals who know HDHPs are not for them.

These are the points I will cover:

  1. Access to Healthcare
  2. Premiums
  3. Copays & Coinsurance
  4. Deductibles
  5. Reward Programs
  6. Medication Costs
  7. Out of Pocket Maximum
  8. Hospital Stays & Surgeries
  9. In-Network & Out-of-Network Benefits

1. Access to Healthcare

First and foremost when  considering any health insurance plan consider how much access is necessary to healthcare. I live in the DC metro area. Some plans I choose from are national, while others are regional, only allowing access to doctors in DC, Maryland and Virginia. Be sure to consider if you will experience:

  • Extended periods of time out of state. If your child or spouse has extended periods of time out of state
  • Second opinions outside of your region (Mayo Clinic, Cleveland Clinic, John Hopkins etc.)
  • Regularly seeing a doctor out of your region

 

2. Premium

The premium is pretty straight forward. It’s how much you pay for insurance every pay period.  For a single person in my area, some range from as low as $50 to as high as $150.  Multiply this by the number of pay periods in a year to get the annual cost. I have noticed a lot of people ONLY consider the premiums when determining their health insurance carrier. This is the biggest mistake! 

3. Copays

Copays is a fixed amount of money you pay for an office visit or procedure. Coinsurance is the percentage you pay for an office visit or procedure. A good rule of thumb is to:

  • Estimate number of visits to primary doctor and times it by the copay/coinsurance
    • 3 visits x $20 = $60
  • Estimate number of specialty care visits and multiply by the copay/coinsurance
    • 3 visits x $30 = $90
  • Consider testing you need. X-rays, MRIs, blood work, etc.

4. Deductible

A deductible is generally the amount of money you must pay before the insurance company will start paying your medical bills.  One thing I have learned is sometimes not everything applies towards the deductible! This is a good thing! I have a $500 deductible, but it only applies if I end up in the hospital. So other than the copay, my insurance will fully cover doctor visits, testing etc. on the very first day of coverage. This year I hit my out-of-pocket maximum without reaching my deductible.

5. Rewards Program

Some insurance programs reward you for being healthy. I get a $500 reward card if I am not overweight, diabetic or hypertensive. I can use this to pay my copays or deductible.

6. Medication Costs

Don’t forget to compare this as well!

7. Out of Pocket Maximum

This is the most you will pay out of pocket. This is important to consider, because if one plan is slightly cheaper in every way but has an out of pocket maximum that is significantly higher then it might not be the plan for you.

8. Hospital Stays & Surgeries

If you know you have a hospital stay or a surgery coming up, or that you are likely to end up needing either or. Compare these benefits. Some insurance plans bill hospitals stays each day. Others are per stay. Then there are the coinsurance plans.

9. Network Benefits

If you want to see an out of network doctor be sure to check the out of network benefits your plan has to offer. Remember if the doctor bills beyond what the insurance company is willing to pay you will owe them the copay/coinsurance plus the unpaid amount.

Simplified Example

Below is a simplified example of two health care plans. It is similar to a decision I had to make when I was choosing health care plans this open season:

Plan A Plan B Conclusions
Premium 50 85 Plan A costs $1300/year

Plan B costs $2210/year

Copays/Coinsurance 20% copay for appts

20% coinsurance for all other services

$10 copay for Primary

$30 copay for specialist

$50 Urgent Care

… various fixed copays for all other services

Plan A – 3 appts = $210

Plan B – 3 appts = $160

Deductible 0 $500
Rewards Program None $500 Reward
Medications $10 copay $5 copay Plan A – 5 meds/month = $600

Plan B – 5 meds/month = $300

Out of Pocket Maximum 3000 3000

Conclusions

The estimated costs for each plan is as follows

  • Plan A = 1300 + 210 + 600 = 2110
  • Plan B  = 2210 +160 + 300 – 460 = 2210

The most I would pay with Plan A is 1300 * (0.70) + 3000 =  3900
The most I would pay with Plan B is 2210 * (0.70) + 3000 – 500 (reward) = 4047

Where 0.70 is a multiplication factor to convert pre-tax dollars (my health care isn’t taxed by my employer) to after tax dollars.

In every way Plan A is estimated to be cheaper, but  personally I went with Plan B because I’d be able to smooth my spending. The fact that plan A has coinsurance rather than fixed copays suggests that I may be paying a large sum of money very early on in the year and hit my out of pocket maximum quickly. $147 is not enough for me to pick Plan A over Plan B unless I had a very solid emergency fund to fork over $3,000 all at once and then some in the case of a catastrophic health situation.

Recap: 2016

This year marks the beginning of my personal finance journey, which began one month after completing my PhD.  Thanks to a financially savvy friend, who was well on their way to financial independence, I quickly became motivated to do better. I also realized it would be a good idea to prepare for the unfortunate but likely scenario of disability retirement.

Liquid Assets Jan-16 Dec-16 $ Change
Cash & Savings $3,946 $2,357  ($1,589)
FSA $1,625 $0  ($1,625)
Other $0 $290 +$290
Retirement Jan-16 Dec-16 $ Change
Roth IRA $3,620 $11,749  +$8,129
401K $4,069 $11,339  +$7,270
Liabilities Oct-16 Dec-16 $ Change
Credit Cards $773 $0 +$773
Medical $0 $175 ($175)
Piano $2,893 $0 +$2,893
Net Worth $9,594 $25,749 +$16,165
% Change +286.5%

In the aspect of personal finances, 2016 went by smoothly.  My net worth almost tripled, and I surpassed  a $25,000 net worth!

Typically a bad health year is seen as a catastrophic event, but for me every year tends to not be so hot for my health. While I didn’t mention or record all of my medical expenses, they were high.  I ended up reaching my out of pocket maximum. This happened last year as well. Thankfully, my FSA cushioned a lot of the blow and I am do well at cost minimization when shopping for a health insurance plan.

Overall  I’m pleased with where I ended up.  The only thing that disappoints me is the lack of liquid assets. When I skim through my entries I can see that $2,000 in catch up IRA contributions and a $2,900 loan repayment were big contributing factors to this. With that in mind, my Cash & Savings did increase otherwise. Still this is one thing I really need to work on.

Half way through 2016 I changed the software I use to track my spending. I started off using both mint and personal capital, but after further consideration, I no longer feel comfortable having a third-party know my login/banking information. I now manually enter my transactions into Quicken, That being said,  below is my spending for the year.

spending-2017

According to Quicken, I spent $35,233.48 in 2016. There is a “Bill & Utility” payment for $2,375 to my company for over-reimbursment for my relocation. Therefore, I really only spent $32.858.48.  For reference, in 2015 I spent $37,389. A lot of this had to do with a $4,000 piano purchase, moving expenses (such as paying double rent) etc. When I lived exclusively in the midwest, I spent $22,569 in 2014, $19,409 in 2013, and $22,623 in 2012.

Net Worth Update – December 2016

There is no more spending to be had in December so it’s time for the update. December was difficult due to the holidays but my net worth still managed to increase by more than 7 percent. I’ve also officially separated out and started working on my emergency fund!

Liquid Assets Nov-16 Dec-16 $ Change
Cash & Savings $2,102 $832  ($1,220)
Emergency Fund $1,500  +$1,500
Other $240 $290 +$50
Retirement Nov-16 Dec-16 $ Change
Roth IRA $11,309 $11,756  +$447
401K $10,657 $11,521  +$864
Liabilities Oct-16 Dec-16 $ Change
Credit Cards $228 $0 +$288
Medical $75 $175 ($100)
Net Worth $24,005 $25,749 +$1,719
% Change +7.2%

Liquid Assets: Obviously the decrease in Cash & Savings is due to its transfer into the Emergency Fund.  I have a solid $1,500 emergency fund which is almost one month’s worth of living expenses. The “Other” category shows that people still owe me money and I am owed $50 more than last month.

Retirement: My retirement accounts increased nicely. I continue to make regular contributions and it appears that the markets performed well. I have not been paying attention to the markets to be honest.

Liabilities: I decided not to carry over any credit card debt this month and I would like to get into that habit. I still have medical bills to pay though.

Budget

I was pretty certain I wouldn’t meet my budget in December. I was correct, however I actually didn’t do too bad. I ate out a lot more this month than I usually do but should be able to save quite a bit next month since I now have groceries stock piled.  I live in DC and I go to restaurants semi-freely but still manage to keep my food expenditures low. For reference my food spending includes eating out at restaurants three times ($82) and eating fast food two times ($14). The rest of the money includes grocery store purchases. The Quicken software I use to track my spending doesnt properly categorize some of my spending if I buy groceries on amazon, for instance, so that explains some of why my food expenditures are low. But mostly I don’t eat much meat or buy more than 2-3 days worth of food at a time because that’s all I can carry without a car. In other words, I don’t waste much. I’m not terribly pressed on categorization as long as I don’t go over the total budget for the month.

Category Budgeted Actual Remaining
Rent $1,650 $1,650 $0 left
Fixed Expenses $100 $93 $7 left
Food $200 $263 $63 over
Health $175
Gifts $250 $250 $0 left
Everything Else $300 $293 $7 left
Total  $2,549  $2,500  $49 over

Net Worth Update – November 2016

November was a another high spend month, making for two high-spend months in a row. I did anticipate November being this way due to a vacation. Thankfully, things still seem to be moving along. As you can see in my net worth outline below, the only category that decreased was the “Pending” category, meaning I received payments for money owed to me.

Assets Oct-16 Nov-16 $ Change
Cash & Savings $1,901 $2,102 +$201
Roth IRA $10,372 $11,309 +$937
401K $9,799 $10,657 +$858
Pending $400 $240 -$160
Liabilities Oct-16 Nov-16 $ Change
Credit Cards $361 $228 +$133
Medical $75 -$75
Net Worth $22,111 $24,005 +$1,894
% Change +8.6%

Below was my budget for November vs my actual spending. I went $52 over my totaled budget, mostly because I bought a new tablet, sorry not sorry. I don’t budget for health expenses, but do like to keep them on record.

While the tablet wasn’t planned, I was so far under my vacation budget, that I purchased it anyways, plus I needed to. My current tablet is 4 years old and has been acting funny for the last few months, it should be arriving tomorrow!

Category Budgeted Actual Remaining
Rent $1,650 $1,650 $0 left
Fixed Expenses $100 $91 $9 left
Food $200 $208 $8 over
Health $190
Vacation $630 $470 $160 left
Everything Else $300 $513 $213 over
Total  $2,880  $2,932  $52 over