June 2013 net worth update (+1.4%)

  31-Dec-2012 31-May-2013 30-Jun-2013 MoM YTD
cash $12,100 $7,900 $10,900 +$3,000 -$1,200
savings $26,800 $23,100 $23,400 +$300
+1.3%
-$3,400
-12.7%
investments $74,000 $104,900 $104,600 -$300
-0.3%
+$30,600
+41.4%
mortgage $259,600 $230,500 $229,800 +$700
+0.3%
+$29,800
+11.5%
net worth $211,300 $263,400 $267,100 +$3,700
+1.4%
+$55,800
+26.4%
assets – debts
(gap)
$146,700 $94,600 $90,900 +$3,700
+3.9%
+$55,800
+38.0%

Cash is up because I used the residual from June’s paycheck to pre-pay the mortgage.

Expenses: I spent $1,940 in June ignoring work reimbursable expenses, which is much better than last month and a touch under my spending goal for the year (under $30,000 $24,000 in non-mortgage expenses). That puts 2013 so far at $15,370 or an average of $2,561/month. This would project forward to $30,740.

Some of my controllable expenses broke down as follows:

  • $74 Clothing (more breathable running tank top and nylons)
  • $239 Entertainment/Social ($156 average this year)
  • $68  Eating out by myself  ($33 average this year)
  • $85 Groceries ($159 average this year)
  • $135 Work lunches ($80 average this year, $171 average this year)
  • $21 Cell phone
  • $31 Internet
  • $93 Electricity (lowest it’s been so far!)
  • $28 Household goods
  • $164 Household repairs and services
  • $17 Medical and dental
  • $20 Eyebrows
  • $4 Toiletries
  • $75 Sport #3
  • $66 Fuel and tolls ($30 average this year so far, $38 average last year)
  • $198 Travel (prepping for my July long weekend trip)

This month was pretty okay for spending, despite completely blowing my clothing, entertainment, eating out, and work lunches budgets, calling a handyman for something (the $164 charge), and driving over 600 miles. I said ‘yes’ to a lot of social things this month and I had a lot of fun. I spent very little time at home and enjoyed our beautiful summer weather! Hence all the driving and things being a bit spendier than usual. I think the damage isn’t that bad for not paying attention to what I was spending all that much :)

Savings: $23,400 (up $300)

Current breakdown:

  • $20,100 in an online savings account
  • $600 in a checking account that gets free ATM fees anywhere in the world (for a just in case backup)
  • $1,500 in a Chase checking account for 6 months ($200 bonus for opening the account!)
  • $600 Condo furnishing sinking fund
  • $600 in my new Health Savings Account (up $300)

I’ve decided that for now, I’m going to use the funds in my HSA account to pay for health expenses. I may re-evaluate next year, but that’s what I’m going to do for now.

Investments: $104,600 (down $300 or -0.3%)

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.

You might question my counting my Series I Savings Bonds under Investments vs Savings. I’m counting them here mostly because of their tax-deferred until maturity nature. I also consider them part of my emergency fund, but in reality my entire monetary (i.e. non-property) net worth is my emergency fund, so that doesn’t necessitate it being part of savings.

The change here comes from:

  1. 401(k) contribution from my May paycheck, including employer matching
  2. Over $600 in dividends
  3. Some market losses (more than what I put in this month!)

Mortgage: $229,800 (down $700 or -0.3%)

My mortgage is a 5/1 ARM at 2.5%. Before the refinance, it would have been paid off November 1, 2038. ~$26 less was paid in interest with the June 1st payment versus the May 1st payment.

Not much happened here this month since I just made the regular payment from my original loan. But! The balance did roll under $230,000 :)

I estimate with the extra principal payments in June that the payoff date is still at August 1, 2038. I need to send an additional ~$11,700 in extra principal payments this year to stay on track with the five year payoff plan, which I am on track to hit by the end of July.

TOTAL: $267,100 (up $3,700 or +1.4%)

I ended 2012 with a net worth of $211,300, so I’ve seen a change of $55,800 or +26.4% so far this year. I’ve set the y-axis on this graph to $315,000 so we can see how my net worth grows towards that throughout the year. I’m currently projecting hitting $300,000 around September to November and $330,000 by the end of the year, for a total yearly increase of almost $120,000.

Interesting fact: my net worth increased by $78,800 in all of 2012. Six months into 2013, it is up $55,800 or about 71% of that figure.

June 2013 Net Worth Graph

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8 thoughts on “June 2013 net worth update (+1.4%)

  1. It’s nice to let loose now and then. I try to say yes to as many invitations I get, but I typically say no to spend-y activities. “Why hit up the newly opened bar/club when we can buy just as much booze at the liquor store and party it up at someone’s place?”

    • Well I don’t drink much, so nights out aren’t all that expensive. One drink isn’t that bad of a total bill if it’s $11/drink!

  2. Another great month. Just out of curiosity- where do wear nylons? Your job seems like one where you can dress fairly casually so just curious.

    • I have a wedding to go to this month and a friend recommended that nylons might make sitting in the dress more comfortable. This is the first time I’ve bought a pair, so I’ll see how it goes.

  3. That is an impressive growth. I wish I could boost myself somehow. I guess the best approach would be to delete the debt first. Well, what are you going to do with your mortgage when the adjustment arrives? Aren’t you worried the rates will be a lot higher by then?

    • I’m not really worried about what mortgage rates will look like when the adjustment arrives since I’m planning to either pay it off by then or move. I am currently projecting to have it paid off by mid-2016.

  4. That’s awesome Leigh — good for you for living it up, especially during this gorgeous time of year! Saving like a maniac is one thing, but it’s also important to have fun and enjoy the sun. Looks like you’ve got everything all figured out (I’m not surprised, of course).

    • Thanks FI! I’m definitely all about saving the residual, but making sure that is a high amount. I’m having so much fun lately – I hope fun is contagious! :)

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