|taxable assets – debts||$70,600||$57,100||$51,000||+$6,100
|$ until FI||$811,300||$821,400||$851,300||+$29,900
October’s net worth is finally a new high for the year. The previous high was back in July at $582.1k. I used my savings and the ESPP sale this month to bulk up my savings accounts – I’m trying to get my non-grad school savings up to $30,000. I have about $9,400 more to go on that plan. My savings rate this month was 66%, which seems to be about solid for the year.
Back when I thought the stock market might give me some positive returns this year, I’d thought my net worth might get to $630,000 to $650,000. Now even $600,000 would be lovely!
Now that I’m done contributing to my retirement accounts for the year, I can make some headway on the “taxable assets – debts” figure. I have to pay the next course’s tuition before the year is out, but I should still be able to get that figure down to about $43,000 by the end of this year.
Expenses: I spent $5,651 in October including the mortgage or $4,623 without it. Some of my controllable expenses broke down as follows:
- $1,386 Clothing
- $219 Athletic wear: online shopping for a winter workout top. Picked one and am returning the others. Final cost should be $55
- $149 Bottoms: dark skinny jeans ($90) and cost to hem them ($15), 4 pair tights ($46)
- ($71) Bras: returned the one I fit last month that didn’t work out and exchanged the bras I had bought a few months ago that no longer fit (Nordstrom has such great return/exchange policies!)
- $989 Dresses: 10 dresses, 6 of which I am returning, and 1 return that finally posted from September. net cost of the purchases after returns: $465
- ($25) Outerwear: returned the vest I bought last month and bought one I really like and turned out to be cheaper
- $26 Socks: stocked up on a few more pairs of socks
- $28 Tops: 5 returns from last month and increasing my camisole supply with 4 more
- $207 Entertainment/Social [average so far this year: $131, average last year: $211] – some cash ($40), eating out with friends ($112), and printing photos ($55)
- $4 Eating out by myself [average so far this year: $7, average last year: $18]
- $8 Work lunches [average so far this year: $42, average last year: $147] – bought my lunch one day and the rest was some snacks
- Donations – spent the remainder of my donations budget for the year! That felt good.
- $241 Presents – starting on my Christmas shopping. I’m now done with 3/9 people! Now to finish the rest in November :)
- Second half of my annual property taxes (not discretionary, but definitely makes October always an expensive month)
- $20 Eyebrows
- $86 Hair cut
- ($138) Toiletries [average so far this year: $46, average last year: $33] – Refresh of my multivitamin supply, returned the skincare products that weren’t working for me, and bought a different cleanser that does seem to be working.
- $38 Shopping – two charging cables for my new phone and a 2016 calendar
- $269 Transportation: tolls replenishment (x2), one tank of gas, one taxi to an event, and renewing my vehicle tabs
*Note that I’m not counting my grad school costs in this spending report because the point of this is to track my general living expenses. I am still tracking the grad school costs myself, but won’t include them in all of my reports.
Yes, I’ve been spending a lot on clothing this year. But a) I can afford it while still having a healthy savings rate, b) I’ve been changing sizes a lot, which has resulted in not a good selection of clothes, and c) my overall spending for the year should still come in under last year’s. For example, I found myself getting dressed to go to an event with a closet full of dresses (about 10-15 that I’ve bought over the last ten years) and only one fit.
Savings: $59,600 (up $9,100)
These funds are spread across a checking account that gets free ATM fees anywhere in the world, my current employer’s health savings account, a health savings account at my credit union, a bit of a buffer in my credit union checking account, and general and grad school savings accounts at Ally.
- My grad school savings account is now at the amount I need it to be to pay for the rest of my grad school in cash, if necessary.
- I also increased my HSA contributions to the maximum now that I’m done with my retirement accounts. I’ll re-evaluate this for next year (very shortly as open enrollment starts soon), but this felt like the right decision for now since my HSA was worth less than one year’s out of pocket maximum.
- The rest of the savings increase went to my general savings account, which I’ll be focusing on for the rest of the year.
Investments: $210,800 (up $5,600 or +2.7%)
This includes my pre-tax 401(k), employer 401(k) matching, my after-tax 401(k), my Roth IRA, and my taxable investments including stock index funds, Series I Savings Bonds, and ESPP cash/shares.
The change here comes from:
- Employer matching contributions
- A month’s ESPP deposits
- Selling the Q3 ESPP shares
- Investment returns of about $9,000, almost bringing me to even for the year
I also did an in-service withdrawal of my after-tax 401(k) contributions, which got me a check in the mail and I then deposited it into my Vanguard Roth IRA. My Roth IRA is now worth about $65,000, which is pretty solid!
Mortgage: $135,600 (down $800 or -0.6%)
Some statistics here:
- 2.5%: the interest rate on my 5/1 ARM
- January 2018: when the interest rate on my mortgage is set to reset, possibly to 7.5% though current calculations would put it at 3.125%.
- 27.7%: portion of my regular payment went to interest (originally was 59%; down 0.1 percentage points)
- 62.1%: amount of equity in my condo, assuming purchase price (up 0.3 percentage points)
- 52.6%: amount of the mortgage I’ve paid down (up 0.6 percentage points)
I’m just letting the regular, automatic payment go for now, until my cash savings is at the level I want and my 401(k) is fully maxed out for the year.
TOTAL: $591,400 (up $12,800 or +2.2%)
I ended 2014 with a net worth of $531,600, so I’ve seen a change of +$59,800 or +11.2% so far this year. I’m going to set the y-axis on this graph to $650,000 so we can see how my net worth grows towards that throughout the year.