November was a pretty good month for income. I had a small bonus at work and I’m done with paying Social Security tax for the year. Plus, with the reimbursements from stuff I paid for in October, expenses came in at only $2,300, much better than last month’s $8,200!
Cash: $8,500 (down $200 or -2.3%)
November’s expenses were much more normal and I saw the late October expenses reimbursed back.
Savings: $27,000 (down $100 or -0.4%)
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’m also keeping a condo section around for now to cover small things that I’m planning on buying for the condo. I’m not adding to it, but I’ll let it collect some interest.
Investments: $70,800 (up $2,400 or +3.5%)
This includes my Roth and Traditional 401(k), my 401(k) employer matching (fully vested as of October 31st), my Roth IRA, and my taxable investments.
My 401(k) balance surpassed $40,000 this month! The only contribution this month was to my 401(k).
Mortgage: $260,500 (down $4,300 or -1.6%)
The loan is currently a 5/1 ARM mortgage at 3.000%. The refinance is still in progress and I’ll talk a bit about that once it closes.
$6 less of November’s mortgage payment went to interest than October’s did! (With no pre-payments, normal drop-offs are about $1-2 per month.)
November was a pretty good month in principal only payments. I saw a small bonus at work and threw the entire net of it at the mortgage. Since I finished paying Social Security Tax last month, that was a nice little extra on the bonus and my regular paycheck. I made just under $4,000 in principal only payments!
I estimate that the mortgage length is down from October’s 26 years, 10 months to 26 years, 4 months, so I eliminated 6 months of payments with this month’s pre-payments. This means that in ~5 months of making payments of some sort on the mortgage, I have paid down 4 years worth of the mortgage.
I am currently forecasting to be about $4,000 ahead of the end-of-year mortgage balance goal, with no further pre-payments, so I’ll probably be even further ahead of it by the end of December.
TOTAL: $203,800 (up $6,400 or +3.2%)
I started 2012 out with a net worth of $132,500, so I’ve seen a change of $71,300 or +53.8% so far this year.
I increased the y-axis on the below graph to $215,000 because I surpassed the previous y-axis of $200,000 this month! I remember NTF commenting on one of my posts that the first $100,000 is the hardest and I would definitely agree. Post-$100,000, my net worth has been growing far, far faster. It took me only 11 months to acquire the second $100,000, but over 20 years to acquire the first $100,000. We’ll see how long the next few $100,000 batches take to acquire :)