Another storybook month for our net worth this month! Read below to check out how we did it. Hope you had a great August like we did.
Fun things we did in August
Sorry, no video this month. However, we did quite a bit of fun stuff and have gone through some big changes here in our household.
We went on another vacation. This vacation marked our fourth vacation for the year and was a ton of fun. This time we got together with my mom and brother and sister as well as each of their families! I'm still working through all the photos and going to be putting together a video to document our trip, but we did have a blast. We were able to find a nice Airbnb that we shared and we were able to kick back for a whole week before heading back and getting to work.
We did a lot of biking this past month. Actually, our oldest, Evelyn, took the leap and started riding her bike without training wheels. Our younger daughter, Natalie, started riding a junior bike (12" wheels vs 16") with training wheels. Before this, she was only doing a scooter and tricycles. We are taking rides as much as possible while we have good weather to lock in the learning of this new skill before we have to closet it until next year.
We went to my wife's mom's house to dig up a time capsule that she had buried about 20 years ago that had stuff related to Princess Diana's funeral and life. We came up empty handed though as it was only buried in a shoebox which had since disintegrated. We were able to find the VHS tape, but it was full of dirt and we actually cracked it while digging for the time capsule.
Evelyn started kindergarten this month. This means that we all have to get up a little bit earlier around our household to get ready for the day. I'm able to actually drop her off and pick her up each day, so that's been an awesome experience so far. It's a lot of fun to see her expression and the joy on her face when she sees me coming to get her at the end of the day. Also, since she's in full day kindergarten, that means I get six hours of time with my younger one right now. We did have her screened for preschool, but won't find out until mid September whether she gets in or not. If she doesn't, I'm prepared to continue her home school curriculum.
Why I post my net worth updates publicly
If this is the first time you've stumbled upon my monthly net worth reports, I would like to explain why I choose to write them.
First, I love the accountability they force on me about handling my finances. I'm posting to be transparent and to really try to explain what happened over the last month that moved the needle for our family.
Second, I'm hoping to inspire and motivate others to reach to make their financial future better. I wanted to show that our journey is not all straight up success with no bumps in the road. Everyone has setbacks, but we can't let that get us down! We have to keep pressing forward!
What Happened to Our Net Worth This Month?
This month's uptick was mainly thanks to the markets moving in the right direction, even if it was slightly and another payment on our mortgage to decrease our debt on the home.
Net Worth - August 2017
- Home Value - $174,000 - This is the number that I'll most likely be sticking with for the short term future. It seems to be a solid number, although Zillow is throwing a bigger number out there currently. I know that many others have said that Zillow seems to move around too much to be so accurate, but I'm going to stay conservative for now! Zillow is now showing that my home is worth as $181,500, but it changes all the time, so I'm holding back on that.
- Work Roth 403b - The account continues to grow at a nice rate with. We put the most of our contributions in here and are enjoying the ride this year!
- Traditional and Roth IRA's - Nice bit of growth this month as we are letting the market do it's magic!
- Auto Value - It goes up, it goes down... just cars doing their normal thing here...
- Cash Money - A small up month here, but we'll take it, right?!? Here's how our bigger expenses played out:
- Sinking Funds took an $368 hit.
- Groceries were a little high this month. We spent $746 of which only $50 was eating out. That's a nice decrease from last month. Although we were a little over budget, it was mainly due to having to buy a few things that we don't buy every month. Hoping to bring this number down in September.
- Medical came in at only $57 this month, woohoo! Another relatively free month! We had one incident, but it was all good in the end. Never did get around to looking into opening up an HSA account, will have to try to do that in September.
- Emergency Fund Savings - We didn't add anything to the savings this month other than $13 of interest. We had an extra high electric bill as well as overage in our groceries that ate up most of the extra that would go into the savings. We should be better off for September.
Home Mortgage - Boom! Another payment in and we broke the $610 mark! We are paying off over $200 more than before we refinanced, although we won't break even until April or May 2018. However, we are less than 15 years away from paying off our mortgage now!
YTD Net Worth Growth
January 1st, 2017 : $102,049.03
August 1st, 2017 : $119,015.06
Total Growth YTD : $16,966.03 (16.62%)
Last Year's Growth: $18,336.16 (21.88%)
Take Away for the Month
Another great month in the books! Would like to see more going back into savings to get that rebuilt, but every month is different I guess. Love seeing that our growth for the year is approaching what we did last year!
How did your August go?
Here are some of our articles that were posted throughout August in case you missed them.
Looking for tips to help your family save on your clothes, home or food? Check out these great tips Fehmeen from Top Money Hacks put together!
We had a solid up month, putting more money into savings and riding the market movement upwards. Check out the details here…
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