December 2013 net worth update (+1.7%)

31-Dec-2012 30-Nov-2013 31-Dec-2013 MoM YTD
cash $12,100 $14,000 $13,500 -$500 +$1,400
savings $26,800 $27,600 $27,400 -$200 +$600
+2.2%
investments $74,000 $132,700 $134,600 +$1,900
+1.4%
+$60,600
+81.9%
mortgage $259,600 $192,100 $187,600 +$4,500
+2.3%
+$72,000
+27.7%
net worth $211,300 $340,200 $345,900 +$5,700
+1.7%
+$134,600
+63.7%
assets – debts
(gap)
$146,700 $17,800 $12,100 +$5,700
+32.0%
+$134,600
+91.8%

So, um, this turned into a pretty spendy month. Yeah… I only saved about $1,500 total between my Health Savings Account, the 1/1 mortgage payment principal, and my mortgage pre-payment. Wow. That feels pretty sad, especially considering that my direct deposit in January should be over $2,000 less than my December one. There were a lot of negative budget items in my spreadsheet and I used my December paycheck to zero those out and start the year out fresh and I decided to do a project in my condo this month that used up most of the extra cash flow.

One of my credit cards has a due date of the 1st and when that is a weekend/holiday, the payment credits at the end of the prior month and debits early in the actual month. I’m strongly considering asking them to move the due date a few days further into the month so that this doesn’t happen – I don’t like what it does to my accounting!

Expenses: I spent $4,620 in December (before the mortgage). That puts 2013 so far at $33,650 or an average of $2,804/month. I am way past my stretch ($24,000) goal and just over one month’s spending past the target ($30,000) goal.

Some of my controllable expenses broke down as follows:

  • $409 Clothing: one pair winter running tights, two pairs fleece-lined leggings, return of some of the online shopping from November, pyjamas ($6 – super on sale!), a few pairs of underwear, fixing a pair of boots, some online shoe shopping to replace the other pair that can’t be fixed (most will be returned in January)
  • $99 Dropbox subscription
  • $438 Entertainment/Social ($224 average this year): 12% stocking up on journals, 1% books, 79% eating out with my boyfriend / shows, 21% eating out with friends (-13% re-categorizing cash spending)
  • $18 Eating out by myself ($25 average this year)
  • $118 Groceries ($152 average this year)
  • $103 Work lunches ($77 average this year, $171 average last year) – since this was my last few weeks in my group, I gave myself a pass and ate out a lot more
  • Quite a few charitable donations! I feel much better about how much I donated this year now. There is still room for improvement, but it’s getting better.
  • $247 Presents
  • $31 Internet
  • $96 Electricity (October/November bill)
  • $10 Household goods (bought some paper towels only to realize there was still a roll I bought in March in the cupboard, so I think I won’t be buying any more for a few years…)
  • $532 Medical (waiting on about $350 of bills)
  • $20 Eyebrows
  • $38 Toiletries (cold medicine, moisturizer)
  • $76 Facial (my once per year budgeted for treat)
  • $585 Sport #2 (annual cost, ish)
  • $13 a new sling bag for when I want a bit more than my purse and a bit less than my backpack
  • $19 new charger for my laptop, but this still didn’t fix the problem, so I’m going to need to do something else to fix it more. Hopefully it does NOT involve buying a new laptop. If it does, I am seriously considering just buying a Chromebook.
  • $913 Furnishings (solar-powered Christmas lights for the balcony, silicone baking cups, deposit for closet system install)
  • $14 Car maintenance (the battery in my car key was apparently dying, so I stocked up and shouldn’t have to buy any more for 9 years with the length of time the first one lasted)
  • $39 Fuel ($34 average this year so far, $38 average last year)
  • $8 Parking meters
  • $18 Taxis
  • $30 Tolls (I finally set up an account so I stop paying the super high rates and this was the minimum initial amount. At my usage, it should last me for 1-3 years.)
  • $5 Travel

This basically turned into an expensive month everywhere. It was actually my most expensive month for the year, second to the month where I paid for most of my September trip and the month where I paid for the first half of the property taxes.

The returning of the boots I don’t like from the online shopping should even out this month’s clothing spending next month – just annoying that it’s in a different year.

I ended up spending a bit more on Christmas than I had intended, but that’s okay.

I’m pretty much done with physical therapy (still getting medical bills though) and I’m walking/bussing to work again! So awesome. That did save a lot of money in those categories this month…

The real big expensive thing this month was the fact that I finally decided to upgrade the closets in the master bedroom. I paid a deposit on the install this month and will pay the remainder next month, as well as the painters. I’m pretty excited for the upgraded closets though!

Savings: $27,400 (down $200)

These funds are spread across a Chase savings account (opening bonus!), a general online savings account, a checking account that gets free ATM fees anywhere in the world, a condo furnishing sinking fund, and my health savings account.

The change here comes from:

  1. Spending down the rest of the condo furnishing sinking fund
  2. Paycheck contributions to my health savings account (November and December) and spending down some of it to pay the medical bills

Investments: $134,600 (up $1,900 or +1.4%)

This includes my Roth and Traditional 401(k), my 401(k) employer matching (fully vested!), my Roth IRA, my taxable investments including stock index funds and Series I Savings Bonds.

The change here comes from:

  1. Q4 dividends
  2. Modest market increases
  3. No contributions from me

Mortgage: $187,600 (down $4,500 or -2.3%)

My mortgage is a 5/1 ARM at 2.5%. Before the refinance, it would have been paid off November 1, 2038.

I only made one payment in December and that the savings from my November paycheck.

I estimate with the extra principal payments in December that the payoff date is now at February 1, 2033. I shaved 7 months of payments off with this month’s pre-payments! And I’ll save about $8 in interest on the January 1st payment based on these pre-payments.

The mortgage balance is so far ahead of where it needs to be by the end of 2013 to stay on track with the five year pay-off plan that I’ve adjusted the plan to pay it off by the end of 2015 or two more years. I’m currently about $7,200 behind where I need to have it at the end of 2013 to stay on the two more year payoff plan. I have now paid down 34.4% of the original mortgage balance and am getting so close to 50% in equity! (I have $8,800 more in mortgage principal payments to go before I have 50% in equity.)

TOTAL: $345,900 (up $5,700 or +1.7%)

I ended 2012 with a net worth of $211,300, so I saw a change of $134,600 or +63.7% in 2013. (For reference: my net worth increased by $78,800 in all of 2012.) I surpassed the original y-axis on this graph of $315,000 in November, so I increased it to $350,000.

December 2013 Net Worth Graph

Lastly, to check in on the goals I made at the end of November:

  1. Finalize the work thing 110%. SUCCESS! I am moving to a new group in early January.
  2. Read 3 books. PASS! I possibly read three books. I know I read at least one and have read parts of three others?
  3. Follow the directions of the physical therapist. PASS! I am pretty much done with this. It feels awesome to get back to normal again :)
  4. Make a plan for my time off at Christmas – I possibly only have 15 working days in December :) SUCCESS! This time off has been so awesome and it’s not quite done yet! I spent some time with family, with my boyfriend, as well as some time tidying and cleaning my condo and working on personal projects.
  5. Set goals for 2014! DONE!

Now for some goals for January:

  1. Make my 2014 Roth IRA contribution through the backdoor entirely on my smartphone. (This means a) transferring the money from savings to checking with Ally, b) making the $5,500 contribution to my Traditional IRA with Vanguard, and c) exchanging the $5,500 from the Traditional IRA to the Total Stock Market index fund in my Roth IRA.) – I’ve already done a) and b) – just need to wait for the transaction to post tomorrow or Friday so I can do c).
  2. Plan some trips with my boyfriend.
  3. Have fun with my new job!
  4. Return the shoes I don’t like from the online shopping.
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  1. #1 by Elroy McGregor (@MoiAndMoney) on January 1, 2014 - 8:23 pm

    Do enjoy the new job. Nice job on growing your networth!

    • #2 by Leigh on January 1, 2014 - 10:01 pm

      Thanks! Happy new year to you!

  2. #3 by Alicia @ Financial Diffraction on January 2, 2014 - 11:46 am

    Your net worth blows me away! I cannot get over a $130k+ growth in one year. That’s some ballin’ income coming in! And aggressive mortgage repayment.

    Do you have a twitter account so I can follow when you update your blog?

    • #4 by Leigh on January 2, 2014 - 11:57 am

      Wow thank you Alicia! My net income in 2013 was around $150k, so it was mostly income, but also some market increases.

      I don’t have a twitter account, but I do have a RSS feed that you can follow: http://leightpf.wordpress.com/feed/ Do you usually find new posts off twitter rather than RSS?

      • #5 by Alicia @ Financial Diffraction on January 2, 2014 - 1:06 pm

        I used to do the RSS feed thing, but honestly I got a bit lazy with it. There is a crazy sub-culture of PF bloggers who share their links as well as other bloggers on twitter. If you’re interested in growing your blog, you’ll have to eventually cave to the twitter-verse. I never used twitter (not even personally) until about two months ago. Now I have so much more contact with the personal finance community. I used to maybe get 2 comments, now I get 20 or so… and that’s nothing compared to larger blogs. I guess it really depends on what you want from your site. :)

      • #6 by dan23 on January 2, 2014 - 8:01 pm

        150 Net. Wow. Did not realize you made that much. Nice job on the income.

        • #7 by Leigh on January 2, 2014 - 9:30 pm

          Thanks! Well my income went up more this year than previous years. It was up about 40% year-over-year if you look at net. The last few years were closer to 20% year-over-year. I’m expecting it to go down up to 15% in 2014 or if the stock is really good, stay about the same or a small increase.

  3. #8 by plantingourpennies on January 2, 2014 - 5:31 pm

    Well done, Leigh! Am I allowed to ask what Sport #2 is? =)

    • #9 by Leigh on January 2, 2014 - 5:46 pm

      Thanks, PoPs!

  4. #10 by TJ on January 2, 2014 - 5:53 pm

    In the spirit of the winter olympics, let’s go ahead and call them Hockey and Curling!

  5. #11 by Janinenine on January 2, 2014 - 6:10 pm

    YOU DID AMAZING THIS YEAR! CONGRATS =)

    • #12 by Leigh on January 2, 2014 - 6:14 pm

      Thanks Janine! :)

  6. #13 by NoTrustFund on January 2, 2014 - 9:00 pm

    What a great 2013. Happy New Year!

    • #14 by Leigh on January 2, 2014 - 9:31 pm

      Thanks! Happy New Year!

  1. Networth and Blog Roundup #3 | Moi & Money

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