Net Worth Update: July 2016

networthupdateWOW, what a month. This just happens every now and then — nothing spectacular went wrong, and yet I still spent $$$$$$$$$$$$$$$$$. If the markets hadn’t had such a good month, I would actually have had a loss, for the first time since I started tracking. But: they had a great month, and here we are, including even inching across the $50,000 mark! Want to know all the messy spending details? Read on!

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The top of this looks so normal and then….

  1. Cash. I don’t even know. That’s the problem with cash! I definitely bought more prepared food (meals in cafes, prepared food from grocery stores) this month than I typically do. I also spent more at the farmer’s market, seeing as how it’s the height of produce season. Finally, this reflects spending at a couple of summer events I went to with my housemates. It all added up to about $200 more than I typically spend in this category.

2. Slush: also way bigger than normal. While there are a few small things in there like lunch out, Hulu subscription, etc, it mostly comes from nearly $300 spent at a shop upstate where I bought several really nice household items. I probably shouldn’t have done this, but I really like the things I got, and, oh well, YOLO I guess.

3. Personal/medical: this is just bad timing/luck. I found a rebate/sale on contact lenses and bought a six-month supply (had to buy that many to get the rebate.) That was the bulk of spending here, but I also got my hair cut, bought some supplies from the drugstore, and had a co-pay at the dentist for my annual checkup.

4. Gremlins — that one’s easy, at least! Paid my car registration renewal.

5. Clothing — bought a dress.

6. Summer expenses — I’ve been saving for this category all year, which was a great choice. Honestly I should probably save more for next summer — depending on how I categorize stuff, I could’ve put some of that slush spending in here…. Anyway, the things I logged specifically under summer were nearly all related to canning. I bought a lot of fruit to preserve, plus spices, jars, etc. There’s also about $20 for a bottle of Pimm’s, because that is definitely a summer expense.

7. Gifts — this is also the category I use for donations. $30 of this was to renew my NAACP membership. The rest is a tshirt I bought someone and the postage to send a ‘care package’ to a family I know.

And that’s how you spend yourself into the poorhouse, folks!

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Because last month’s update was so late, it included some moves made at the beginning of July, like my first retirement contribution and my EF contribution. Therefore those categories are low this month. I also only contributed $200 to the “life” fund — actually I put $500 in there and then took $300 out again to help fund my heavy spending this month. Luckily, the markets had a great month, so instead of showing a loss for the first time in 2+ years, I have a respectable, if not stellar, increase of $1314.

And I also crossed the threshold of $50K! Barely, but I’ll take it! A net worth of $50335. I almost don’t believe it.

19 thoughts on “Net Worth Update: July 2016

  1. Cindy says:

    Is it sad that I had to look up what Pimm’s is? Definitely sounds like a worthwhile Summer purchase! Huge congratulations on surpassing the $50,000 mark!

    1. thesingledollar says:

      Oh man I love Pimm’s. I’m not much of a drinker and in particular I don’t like beer, but when I was in England once a friend took me to a pub and said “you don’t like beer, so try this” — basically, it’s a liqueur they cut with fizzy lemonade. Sort of like a gin and tonic except WAY better.

      And thanks for the $50K congrats 🙂

      1. Cindy says:

        I’m not a beer drinker either. I’m constantly on the lookout for something I like to drink. Lately I’ve been on a Gin and Diet 7-up kick, which is okay, depending on the brand of Gin. So I’ll definitely have to see if I can get a hold of some Pimm’s, and give that a try!

        1. You can totally mix it with 7-Up over ice. I also like it mixed with strong ginger ale (the kind you buy as “ginger beer”) over ice. If you want to get fancy you can muddle some cucumber slices in there and/or put a fruit garnish in; I had a friend over the other night who brought some blackberries and I crushed a bit of blackberry juice into the drink and it was fabulous. Heads up: I had to go to an actual liquor store for it since my local Meijer doesn’t carry it 🙂

  2. Congrats on passing $50k. Let;s hope the market stays hot so that baby keeps growing.

    1. thesingledollar says:

      Yes! I’d have had a rough month without the market 🙂

  3. Jason says:

    Congrats on getting to 50k! Well done from where you have come from.

    1. thesingledollar says:

      Thank you!! It feels good.

  4. ARBM says:

    My July was a very spendy month too! But with the markets up we are looking okay too.
    Congrats on hitting the $50,000 mark! Also, Pimm’s with cucumber… Yum!

    1. thesingledollar says:

      Yes! Thank the markets for making us look better than we are!

  5. Thank you Markets, for I have spent! 😂

    Congrats on getting to the big 5-0! 🎉🎉 Onward and upward!

    1. thesingledollar says:

      Thank you! I love the emoji things 🙂

  6. Me Thrifty says:

    Well done!

    I assume you usually keep a closer watch on the expenses on food?

    Also, I guess you took a hit today because of the dip in the stock market. Let’s hope it will recover in August, though if the downward trend deepens it could be a buying opportunity as well…

    1. thesingledollar says:

      Yeah, I usually take $300 in cash out and use it for groceries, takeout coffee, restaurants, etc — anything that comes up during the month. This month just got away from me. *shrug*

      I try not to pay attention to the market much on a day by day basis — it goes up and it goes down — but it’s always nice when the trend is up for the month!

  7. Congrats on meeting your $50k goal! July was a pricey month for us as well. Carpet cleaning, replacement part for dishwasher, a family wedding, and summer fun. That’s fun you bought canning stuff! I’m hoping to learn this year, to preserve more produce from our garden. Luckily we already have the jars.

    1. thesingledollar says:

      I’m glad more of your july spending was on fun than on carpet cleaning 🙂 I love canning. I haven’t done too much with vegetables for various reasons, but I make lots of fruit preserves that last all winter, as well as refrigerator pickles (I can’t figure out to get them to stay crisp through the canning process without adding lots of, well, additives, so I’ve given up on keeping my own pickles through the winter and instead just enjoy them all summer.)

  8. Hey, C! Congrats on the 50K net worth! You’re already halfway to 100K!! Keep it up. 🙂

    1. thesingledollar says:

      Thank you! My professional prospects are kind of odd right now so I don’t know if I’ll make $100K on schedule, or at all, but at least I’m trying!

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