December 2014 Net Worth Update

Well, this month started off with a bang and ended up with a schlumpf. Towards the beginning of the month, I paid off the last of my debt (although it took me until the middle of the month to be able to announce it.) Then I got hit with a huge bill for new glasses and contact lenses, and had to pull some money out of my emergency fund along with cash-flowing part of it. So the end net worth results for this month are not too impressive, although I got a last-minute boost via a $200 Christmas gift directed to my travel fund.

To the numbers:

Screen Shot 2014-12-30 at 12.11.49 AMNotes: (1) the medical bills, obviously; (2) I was pleased with how well I did on gifts; (3) I need to plan for more December spending — beyond gifts, there’s also an endless series of brunches and coffee dates when I’m home for the holidays. I tried to keep these inexpensive but still ended up spending more than I’d hoped; (4) I thought I might be able to get some of my train tickets home reimbursed, but it turned out that wasn’t going to work out, hence the overage in travel. I redirected money from my initial slush allocation for it; (5) I accounted for the savings as being on target because I did in fact move that money into those categories…. Only to turn around and pull that $250 right back out of the EF to cover the glasses etc.

Screen Shot 2014-12-30 at 12.12.02 AMMy favorite part there is obviously the “Liabilities” (let’s hope this is the last month for a long time that I have to list that category at all.) My cash on hand took a big hit thanks largely to my terrible eyes, but the travel fund got a nice increase courtesy of Christmas, the EF did increase thanks to January’s contribution. Note that the 403(b) is an estimate and I hope a low one; the reason is that my university is switching providers, and I haven’t been able to see my account online for a couple of weeks. In fact, the last day I could see it (the number I’m using) was the day the market bottomed out due to the ruble crisis. However, supposedly when it resurfaces it will be valued at the close of market on 12/19, by which time everything had recovered. So fingers crossed that this actually works out. I should be able to get a better idea sometime during the first week of January but I figured I couldn’t go wrong by giving it the lowest value here.

As predicted last month, I did not make my goal of increasing my net worth by $2000; without the *)^&%*($^(&*&T)^*(&( eye doctor, however, I totally would have! I did have an increase, from $12630.61 last month to $14019.83 this month, a difference of $1389.22.

2014 was a big year for me, financially speaking. I paid off my student loans, then paid off a credit card balance. I also opened a retirement account for the first time ever (starting 15 years or so too late, but oh well) and started a small emergency fund. Overall, I increased my net worth from approximately -$11000 to $14020, a net worth increase for the year of approximately $25000. Considering that my base salary was $55750 (I also earned about $2000 in side hustles) that is not that bad. I didn’t quite manage to live on 50% of my income, but I got fairly close — and I didn’t have a particularly frugal first half, either. Now that I’m more focused on my goals, I hope to do better in 2015. Thanks for coming along for the ride!

20 thoughts on “December 2014 Net Worth Update

  1. James says:

    You’re publishing from the future! At least according to Pacific time.

    That’s actually pretty close to my gain in 2014. I’m still in the red, tragically.

    I must say, 2015 is shaping up to be a good one for you!

    1. thesingledollar says:

      If I were really publishing from the future, I’d do some serious stock-picking…. Here’s to more increases for both of us in 2015!

  2. The Stoic says:

    Very nice work on changing your net worth from negative to positive!

    All the best in 2015!

    The Stoic

    1. thesingledollar says:

      Thank you! Same best wishes for the new year to you!

  3. Brooke says:

    Hey, take a moment to celebrate! You are debt free, you cash-flowed a big expense/emergency and you went from negative to positive net work this year. What a year. I haven’t been tracking my net worth, just our monthly budgets, but I plan on starting it in January. My figures in Mint are never 100% accurate so I have to add it to my Excel spreadsheet. I think I could get motivated by an increasing net worth!

    1. thesingledollar says:

      It is super motivating to post your net worth! I kind of love doing it, even when I have an iffy month 🙂 Thanks for the celebration — it’s been a year in which I’ve learned a lot and made some big changes and it’s good to see all that paying off a bit.

  4. Chonce says:

    Congrats on the net worth increase and reaching so many of your financial goals this year. The eye doctor is just a minor annoyance if anything at at. You’ve got this. I look forward to reading more about your financial journey in 2015 🙂

    1. thesingledollar says:

      Thank you! You’re right, the glasses are minor in the grand scheme 🙂

  5. Liz says:

    Paying off your student loans is a huge accomplishment. Congrats. I hope 2015 is a prosperous year for you!

    1. thesingledollar says:

      Thanks, Liz! Same to you!

  6. Alicia says:

    You hit a lot of major financial milestones this year for sure. I love that you were able to cash flow your eye doctor expenses too. That’s the sign of a lean, healthy budget 🙂 here’s to an awesome 2015!

    1. thesingledollar says:

      I love how we all have BIG PLANS for 2015! I think it is going to be a good year, financially, and I hope personally too.

  7. Wendy says:

    Congrats on being debt free by end of 2014 C! That must feel amazing 🙂 Even though I don’t blog anymore, I’m still following along on your journey and am so proud at how far you have come in just one year! Here’s to a debt-free 2015! 🙂

    1. thesingledollar says:

      What a nice new year’s treat to hear from you! I remember in March spending a night reading through *all* your archives and thinking “I can do this!” 🙂 Thanks for letting me know you’ve been following along. I’ve been thinking about and rooting for you too. Cheers to 2015!

  8. Hey! I like your blog. 🙂
    I can soooo relate to what you’ve been through. My own ‘biological savings clock’ went off this year, after being on snooze for about 15 years. I did the million and one Google searches, feeling frantic about my lack of retirement savings. I can’t tell you how many times I’ve stalked my bank account, impatiently waiting for THE SECOND that my paycheck hit my account so I could apply it toward debt. And the time in between paychecks always seems like an eternity. It’s always good to find single sisters in the struggle. Now that you’re out of debt, the hardest part is over. I’ll be sure to check in from time to time to see how things are working out for you. Best of luck in 2015!

    1. thesingledollar says:

      Thanks and you too! I’m rooting for you like crazy, you don’t even know. It’s hard and scary to be reaching an “advanced age” (heh) without backup in the form of a partner or a large savings account. I think we will both make it, but it’s definitely unsettling. Anyway, here’s to a good 2015!

  9. Tawcan says:

    Paying off your student loan is a huge accomplishment. I just recently had to get some contacts myself too and ended up having to spend $200 more than expected. Sucks but I need these contacts to see so had no choice.

    Increasing your net worth by $25000 is pretty awesome. Here’s to an excellent 2015!

    1. thesingledollar says:

      Thank you so much! And commiseration on the contacts. Man, if I could change just one thing about my genetic inheritance, it’d be my eyes 🙂

  10. You did so much in 2014! Student loans, CC, retirement accounts and a major swing in your net worth! Awesome job! Can’t wait to read what you have in store for 2015.

    1. thesingledollar says:

      It was a good year! Good thing too since I don’t have any time to waste. 🙂

Comments are closed.