My wife and I just returned from a vacation at the beach, and it was a great chance to recharge. It was nice to step away from everything. In fact, I had planned to blog while we were away, but I couldn’t bring myself to get on my computer or iPad for any reason while we were relaxing.
I wanted to start off April with a post that I hope will become a trend; The Month-End Check-In. Basically a simple recap of the month before in terms of budgeting and wealth building. I plan to use some real numbers here, so that everyone can follow along with us as we reach our goals.
A number that I have been focusing on is our net worth. I really want to make positive gains to our net worth every month. Our net worth is still pretty low, unfortunately, because my student loan debt offsets a huge chunk of what investment savings we have. From March 1 to April 1, our net worth grew $3,300. I am really excited about that number. I am maxing out my 401k, and we have been setting aside money to have on hand in our family coffer.
Speaking of family coffer, we weren’t able to increase it as much as we intended. If you remember, in February we had $1719. We ended March with $1928. This was for two reasons: 1) we had to dip into this account to cover some of our preliminary moving expenses, and 2) our vacation wasn’t technically budgeted for. So, any extra cash we would have ended up with, went towards our beach trip. The recharge was much needed, however, and we have come back from our voyage determined to dig in and really move the numbers in April.
Our debt (car + student loan) was lowered by $380, bringing our total debt to $25,550! I think this is awesome, since we weren’t really able to maximize our savings, but we still made our payments towards these two accounts. Once we get past August, we should be able to make a sizeable payment on our debt, drop our emergency fund back to $1000, and be on our way to paying off the rest of the debt.
So, all in all, I think my wife and I made some great strides towards our goals, even though we spent some extra cash on what will probably be our last trip before the baby comes.
What about you? Do you check in with yourself every month? If so, how are you doing? What are some other numbers and indicators your check each month to see how you are going? Leave a comment and please follow to join us on our journey!