Financially, March was pretty calm. I spent a fair amount of money on travel, but I didn’t spend any money out of my savings accounts (yay for being done with moving!), so my net worth update looks a lot more sane. I did surpass the $50,000 marker on my investments, as well as (spoiler alert) the $150,000 net worth barrier!
Cash: $7,600 (down $1,900 or -20%)
Most of the negative in this category is due to travel – I took a trip in March and I booked flights and a hotel for a trip in June. I’m not taking any trips in April, so that budget line will be much happier then :)
Savings: $92,300 (up $2,200 or +2.4%)
- Vehicle replacement: $3,800 (+$300)
- Down payment: $64,400 (+$1,800)
- Reserves: $24,100 (+$100)
Reserves includes my auto insurance deductible ($1,000), renter’s insurance deductible ($500), and health insurance deductible ($950), as well as 6 months expenses at $3,600 per month and the interest accumulated.
I continued to pay for my health insurance costs out of my health insurance deductible reserves and I then put $165 back into this account with my March paycheck.
The $250 automatic savings plan for my vehicle replacement savings account is still going, which is awesome. I manually sent $1,800 to the down payment savings account this month. It’s finally starting to earn a good amount of interest with the large amount in there! I’m going to have fun watching that grow (not so) slowly over the next few months.
I’m forecasting right now that my overall savings will surpass the $100,000 marker in September and that I will hit my down payment savings goal of $76,800 in January of next year.
Investments: $50,500 (up $2,100 or +4.3%)
The only activity here this month was my automatic 401(k) contribution. I am now 1/4 of the way towards maxing out my 401(k) account for the 2012 year!
This includes my Roth and Traditional 401(k), my Roth IRA, and my taxable investments. I also include the employer matching in my 401(k) since I don’t plan on leaving my employer until the 401(k) matching has vested. Obviously if I did lose the matching, that would be reflected in my net worth in the month that I left my employer.
Right now, there is about $5,400 in my taxable money market account. The first $5,000 of that is earmarked for my Roth IRA contribution, which I am holding off on until later in the year when I’m more certain of my income level. $400 isn’t enough to invest in any of Vanguard’s index funds (re: not the STAR fund or the target retirement date funds), so I’m just letting this money accumulate in the money market account until I have $8,000 ($5,000 for my Roth IRA and $3,000 for an index fund). You might ask why I don’t keep the money for my Roth IRA in an online savings account instead of in the Vanguard money market account since it would earn a higher return. I have two reasons for this: 1) the money is earmarked for investments and keeping it at Vanguard keeps me easily aware of that since all of my investments are at Vanguard and 2) Ally’s current online savings account rate is 0.84%, so I would only earn a maximum of $42 over the course of 12 months by putting the money there instead.
TOTAL: $150,400 (up $2,400 or +1.6%)
I started 2012 out with a net worth of $132,500, so I’ve seen a change of $17,900 or +13.5% so far this year.