Net Worth Update, May 2016

networthupdateHello all! It’s that time again. Actually it’s a day or two after that time again. I did my calculations and spreadsheets on May 31, but it’s been busy (hence the radio silence for the last month!) and I’m just now getting around to actually uploading and narrativizing. (I don’t know if that’s a word, but I guess it is if I say it is.)

As I predicted last month, this month looks really fantastic from the net worth perspective. I had no major expenses (no car repairs, no contact lens purchases, no nothin’) so not only did I have all the benefit of my normal paychecks, but I also got to add extra cash from Ebates ($64.94), Swagbucks, ($25), freelance writing ($70), reimbursements I’d long since written off because I thought I’d never get them back ($230), and, drumroll, a $2700 stipend for the seminar I’m taking. Basically, I made about double my normal income this month. That is very unusual!

So, here’s the spending report:

Screen Shot 2016-05-31 at 9.47.00 PM

Pretty boring. Gas was high (and will be high in June) because I drove about 1/3 of the way across the country to attend this seminar. The “travel” cost was actually to book registration, lodging, and class dinner for my college reunion which is this weekend.

“Slush” — I finally paid up for Hulu, and the rest of this was the cost of a couple of lunches out as well as taking my brother and sister in law out to dinner when I stayed at their house. Personal/medical included a couple of prescriptions, but most of that is actually fancy skin care which is embarrassingly expensive but which I kind of love. “Gremlins” is actually the renewal of my membership in the NAACP. “Clothing” is a pair of nice, arch-supportive flip-flops. Professional expenses is basically books for this seminar, paid for out of the stipend.

I also finally answered the burning question of what I’m doing for income next academic year (starting in July.) Folks, this was not supposed to be a year of epic employment drama, but it has been a year of epic employment drama. Remember how I was either moving, or buying a house? Right. Of course, in the end, I’m neither moving, nor buying a house. And instead of getting a raise at my current job (which I’m keeping another year) I actually ended up negotiating to drop to 3/4 time. (This was my idea.)

Since it’s no longer a down payment fund, I changed the name of my big pot of money to the “Life” fund. I’ve got a post in the works about it, so I won’t say more here, but if you look at the spreadsheet below you’ll see it listed like that.

Screen Shot 2016-05-31 at 9.45.40 PM

Woo! In the time I’ve been keeping track, I’ve never had a monthly shift that big. Turns out having twice as much income as normal has an effect! I also got a roughly $500 lift just from stock market activity.

As you can see, I filled my emergency fund back up; I used it last month for the car repair, and when my first stipend check came in earlier this month, I put some of it into the e-fund, as well as using some of it to pay for seminar-related expenses (books and travel.)

These are the numbers as of May 31. However, on June 2 they already look different; I took $1400 from checking and put it into the Life fund, so the latter is actually standing at just over $12400 right now. It’ll get one last big cash infusion this month before I turn my attention back to my retirement accounts with July’s paychecks. Although I do note that as of yesterday with a new contribution hitting, my retirement accounts are up to over $30,000. So that’s cool.

Anyway, my official end of May net worth is $46,773, up from $41366 last month for a total increase of $5367.51 (!!!!) Also, according to the running calculation I’m keeping, I’ve now saved 58% of my income on the year, although this percentage is now artificially inflated by my super-sized May income and will undoubtedly decline. It would be even more misleading to calculate the percentage of income saved vs spent just for May, so I’m not even doing that 🙂

19 thoughts on “Net Worth Update, May 2016

  1. ZJ Thorne says:

    I also had a big boost in May. Psychologically feels fantastic! Hopefully the work drama dims down and you get to enjoy that 3/4 time.

    1. thesingledollar says:

      Congrats on your own big boost 🙂

  2. Cindy says:

    I was getting so close! And then you went and surged ahead. LOL! Super happy for you. Especially passing $30,000 in retirement accounts. That’s got to feel pretty great!

    1. thesingledollar says:

      LOL. Sorry 🙂 It was fun to make that much in a month.

  3. ARBM says:

    That’s an impressive increase! Congrats!
    And well done on the raise and going to 3/4 time. That’s exciting news for you!

    I was going to ask what your plans are for the “Life” fund, but I’ll wait for your post on the subject.

    Our May was good for us, and we finally are in the way up after a slow start and some spendy months.

    1. thesingledollar says:

      Yeah, more posts forthcoming….

  4. Why hello! I was actually on the verge of emailing you last week to be like, “hey! why no blog posts?” but then I decided that was super duper annoying and I should just wait and see if there was a monthly updates post. For some reason I am not able to view the large image that shows your change in net worth, etc. (I just see a question mark), but it might just be my computer. Um, also, that is an amazing increase in net worth!

    Sorry about your epic employment drama this year. :/ I’m really intrigued that you dropped to 3/4 time…will there be more information about this in the “Life” post you’re writing?

    1. thesingledollar says:

      Post about employment drama forthcoming! Sorry I’ve been so quiet. It’s just been super crazy.

  5. Such great news! Really shows how important tracking is. Thanks for sharing.

    1. thesingledollar says:

      Thanks! And yeah, tracking’s been huge for me.

  6. !!!!! Look at you being all silent and then coming in here with major progress to share. Congrats on your huge month. Congrats on the raise and the 3/4 time. Congrats on the employment drama settle. Congrats on 30k in retirement!

    You beat my increase month. Next month, will we see 50k? 🙂 🙂

    1. thesingledollar says:

      Alas, I will not make it to $50K this month. Maybe this summer, though….

  7. Woot! May..officially…crushed!
    Glad to see things are going well. 🙂

    1. thesingledollar says:

      Thanks! You too!

  8. Megan says:

    Oh man, I am very curious about this 3/4 time post. I have a feeling you have a plan!

    1. thesingledollar says:

      Actually I am the furthest thing from having a plan…. 🙂

  9. Like Megan, I’m intrigued by this 3/4 thing. Hmmm… Look at you – closing in on a net worth of $50,000! And I remember when you were in the red by about $18,000 or so. The thing to do with high income months like May is to do exactly what you’ve done : ) Windfall moments are great!

    1. thesingledollar says:

      I need to write a post about it…. I’m so glad you’ve been reading that long! In the red by $18000 was not a very pleasant time of my life. So glad to be where I am now.

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