Net Worth Update May 2015

networthupdateAnother month down! Wow.

I was about to write that this one was weird, except let’s face it, I have a lot of weird months. This wasn’t a great month for savings and scrimpings, but it wasn’t as much of a complete collapse as, say, March. It was just a month with a couple of large expenses and nearly no side income; I was crazy busy with my actual job and didn’t have time or energy for hustling on top of that. If I ignore all the money I put into savings (which would have covered the expenses easily) then I can kind of sense what it would be like to be really living paycheck to paycheck right now. Glad that’s not actually my reality at the moment (and hopefully never again, but you never know.)

To the numbers!

 

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That’s a lotta red.

1) Insurance: I changed my address with my insurance company, and the premium went up slightly (I suppose my new neighborhood is a tad more “unsafe” than the previous one.) Next month I’ll have it budgeted appropriately, of course.

2) Cash: I decreased my withdrawal this month because I was in England, but I cut it too fine and ended up getting out another $40.

3) Travel: This category is a bit misleading, as it includes a number of gifts I bought while I was overseas. Even so, I managed to come in almost exactly on budget until I bought a theater ticket at the absolute last minute on the last day. No regrets. 🙂

4) Slush — I’d budgeted $50 but ended up needing that money for other things, so I didn’t do anything slushy this month.

5) Personal — got a haircut.

6) Gremlins — according to YNAB: passport photos, MLB AtBat subscription, random stuff at Target, transit in Chicago, and a small donation

7) Repairs and maintenance — that’s the car (includes oil change and interior vacuum) — I did a 2-month payment plan, so I still owe them $175 which I’m paying this week. Look for that next month as an expense.

8) Clothing: three dresses and some sandals, like I talked about Friday.

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Well, it’s not going to set any records, but it’s also not too bad. Cash on hand (in the form of my checking account) dropped substantially, but the savings accounts are all chugging along — I’m especially pleased that after a few months of playing catchup I can finally contribute to my travel fund again. My net income in May was $3203.94, and I lived on 53% of that, for an increase of $1569.07 and a total net worth of $23260.34. If I continue my one-month-on, one-month-off pattern, June ought to be awesome, so hopefully I’ll make my goal of a $25K net worth by the end of this month 🙂

 

23 thoughts on “Net Worth Update May 2015

  1. Your savings rate is pretty spectacular if you can live off of 53% of your not huge income in an “off” month. Bravo. Sending you good vibes to reach the $25K mark in June…

    1. thesingledollar says:

      Thanks! I am all about keeping the basic expenses low so that my savings rate can be high even in a bad month (ok, except March, when I think I saved something like 5%.)

  2. Isn’t it funny how we say “This was a weird month” and then most months end up weird in some way? I don’t think I’ve had a normal month since I started tracking. All the More Reason to Save, My Dear!

    I have all the faith in the world that you will get over $25k in June! Now, behave Gremlins! Behave!

    1. thesingledollar says:

      I know, right? They’re either weird bad or weird good! That’s why I started the Gremlins fund in the first place; I quit believing in the concept of a “normal month.”

  3. Kalie says:

    It’s good to recognize that “weird” months can be the norm, and as long as you are tracking & deciding extra expenses are worth then you are still in control of your finances.

    1. thesingledollar says:

      Tracking is pretty awesome, I have to say. I feel like I know what’s happening, at least, even when it’s not what I *want* to be happening!

  4. Looks like you did great to me! Target is always bad on the budget. I try to stay away!

    1. thesingledollar says:

      This Target trip wasn’t too out of control — I think I spent about $10 — but yes, it can be a very dangerous place. I’ve worked on going with a list and not just wandering around looking for things I should probably own. 🙂

  5. I think what is most impressive is your savings each month. You’re killin it there lady! Nice job! I have a post coming out on Frugal Rules on Wed about shopping…I’ve been feeling the urge!

    1. thesingledollar says:

      I’m more or less of a minimalist, but I like nice things, so every now and then the urge to shop overtakes me! Looking forward to your post. And thanks — I’m trying to make up for years of never saving a dime.

  6. ARBM says:

    Living off only 53% of your income is great! So impressive! And that’s your “off” month?!? Wow!
    I’m not tracking my net worth really… But YNAB does sort of tell me a semi-version of net worth. It’s gone up… But will be going down as I spend a lot of my planned spending accounts this month. So perhaps not the best thing to track as it might be depressing this month. Lol.

    1. thesingledollar says:

      Hee, I find it’s worth it to track even in the down months — at least I know where I’m at. I’ve only been doing it for eleven months and I feel more on top of things for sure.

  7. Hannah says:

    We are pretty inconsistent spenders too, especially with our home renovation underway. Even as DIYers, it’s still pretty expensive (and will continue to be so for several more months as we undertake the bigger, more costly projects).

    Good job killing that net worth increase!

    1. thesingledollar says:

      Home renovations, in my experience (thankfully, so far, I have only observed and not undertaken them) get out of control SO FAST.

  8. Ramona says:

    I’m seeing a slight increase in my net worth too, even if it’s very far from what I’d accept at the moment. Anyway, we have increased our expenses after having the baby and it’s normal. As long as we’re slowly growing, it’s still growth in my book 🙂

    Best of luck from now on, too

    1. thesingledollar says:

      Oh, congratulations on the baby! They are financial drains, that’s for sure, but cute ones 🙂 I agree with you, growth is growth!

  9. It’s so awesome seeing your savings creep up! Soon, you’ll see the magic of interest working in your favour -and to an ever-growing degree. I’m glad you splurged on the last minute theatre tickets : )

    1. thesingledollar says:

      The last-minute ticket was a great idea 🙂 I wish my savings would do a bit more than “creep” up, but that’s all they can do on this salary and I’m ok with it for the moment. I really hope eventually that interest does pick up some!

  10. Great job!! You’re savings rate is really impressive.

    1. thesingledollar says:

      Thanks 🙂 I’m trying really hard right now and it’s satisfying to see it paying off.

  11. Chonce says:

    It doesn’t look like you had a super bad month and I love how dedicated you are to saving and increasing your net worth! You’re doing an awesome job. It’s not surprise that I had car repairs too last month and had to juggle preparing for our move with being swamped at my FT job and picking up new freelance clients as well. Whew! On a lighter note, I’m happy it’s finally summer 🙂

    1. thesingledollar says:

      I am super glad it’s summer! It’s been really good so far (except the car repairs.) I’m sorry you had some too! Hopefully the move will go smoothly and I’m glad you’ll save some $$ on rent.

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