Holy cannoli – February was crazy! A lot has changed for such a short month, and my net worth is no exception!
Net Worth as of February 28, 2014: $115,558
Overall, my net worth decreased by $549 this month
Not the prettiest net worth update. In fact, this might be my worst net worth update to date! But, like I said, a lot has changed in February – most notably, my job! It’s a great change, but there was a week when I was not working, which really affected my financials.
Cash: $2,657 [MTM ($966)]
Balance always fluctuates, nothing too crazy here.
Savings: $43 [MTM ($969)]
This category includes both my emergency fund and my travel fund. Since I had a week off, and my first paycheck from my new job was a partial paycheck, I had to dip into my emergency fund to help cover my expenses this month. Also, the purchase of my #FinCon14 registration tickets affected this category as well.
401(k): $8,646 [MTM $1,939]
This is the account I had with my former employer. Great gains here this month because I finally got my employer match! Since I have left the company, I plan on rolling this bad boy over into a Traditional IRA. My current employer does offer a 401(k), but I have to wait for 90 days after my first day to actually enroll.
Roth IRA: $12,053 [MTM $848]
Pretty solid gains this month – I won’t complain!
Credit Cards: $2,718 [MTM $2,718]
UGHHHHH. Yes, this does not look pretty. I’m back to credit card debt. Only temporarily though! There was a slight delay in receiving the rent payments from my mom and brother, and I had to fork over some money in the meantime. Also, my commute has changed, which means commuting costs have changed as well. I put all my gas and toll on this card and sometimes I forget to check it. I know - bad pf blogger, bad! I’m hoping to rid of this debt in a few months.
Student Loans: $16,022 [MTM ($523)]
After months of seeing no progress with my student loans, a lower balance is a sight for sore eyes. I try to tell myself that I’m “pretty lucky” because I borrowed much less than the average student, but seeing that $16k in debt just for school just doesn’t feel good no matter how you spin it. I’m not getting rid of this as fast as I’d originally hoped, but progress is progress.
Car Loan: $20,133 [MTM ($334)]
Nothing unusual here. I’m tacking on a few extra dollars here and there, but the truth of the matter is that this isn’t my priority at the moment.
Mortgage: $277,772 [MTM ($459)]
Nothing special here, either. I will be implementing a bi-monthly payment with a few extra dollars each two weeks. But just like my car loan, my mortgage is not a huge priority at the moment.
February was the shortest month, but it was also the craziest month! Just when you think you’ve got this whole net worth increasing trend going, life will prove to you otherwise. I’m not going to beat myself up too much about the decrease this month – a lot has changed and I think I’m coping pretty well. Let’s just hope next month will be better!
My priorities are now to 1) build up the emergency fund back to $1K and 2) get rid of the credit card debt (again). I definitely have my work cut out for me these next few months!
How did your February financials go?