May 2015 – $65,904 – Net Worth Update (-$510.00)2 min read

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Alright, here goes! My first real Budget Report/Net Worth Update!

What Happened

This month was a pretty good month overall, but I think with how the paychecks fell at the end of the month, our stats were showing a little skewed. We will see next month anyways. We got a good chunk of money put away into savings this month getting us all that much closer to our Fully Funded Emergency Fund of 6 months of expenses! Can’t wait to get that done so that we can start investing, saving for kid’s college and paying off the mortgage!

Net Worth – May 2015

Net Worth May2015

Assets

  • Home Value – $160,000 – Holding on to this number since our appraisal was done before our refinance (August 2014)
  • 401k – nice growth of $631. We are moving our 401k to a new management company this month (June 2015), so it will be interesting to see how these numbers shape up.
  • IRA – small, but steady growth here. I remember putting in $3,000 so long ago and just letting this one ride for a while.
  • Auto Value – Same value according to Mint.com
  • Cash Money – We did a lot of our moving around of cash later then normal in the month which is probably why this number is so much lower. We waited to fund our savings until we got another paycheck as well as had some car work come up.
  • Savings – Nice growth of over $1,000 here! Gotta keep that Emergency fund growing until we hit our 6 month goal of just over $15,000.

Liabilities

  • Home Mortgage – Going down like clockwork! I remember before we refinanced to lower our term and keep our payment the same, our principal coming off the mortgage was only around a little over $200 a month. Can’t wait until November when we will be past our breakeven analysis!

Take Away for the Month

My take away this month is that I’m going to have to track what happens to my cash a little better. Being a little behind on where my money went here (not knowing where ALL of it went is the big thing), I think I will be in better shape next month. Looking forward to seeing how the new investment team does too! Have a great month and I hope you will start tracking right along with me.

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Steven Goodwin

Owner/Blogger/Consultant at MyFamilyOnABudget
Steve Goodwin, a stay-at-home dad of two girls is passionate about finances and is helping others just like you get out of debt and build wealth handling money God's way. His goal is to inspire people like you to gain control of their finances by destroying debt and building wealth using their cash flow.
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