This quarter's spending and net worth update is brought to you by my two favorite financial tools: HoneyFi and Tiller. No, they didn't sponsor this post. Rather, they've sponsored a monumental transition in money management. Rob is really starting to get involved in the day to day management of our money.
In the past, I was the money manager. When we spent too much one month, I was the one who caught it and told Rob we needed to reign it (I was also usually the culprit). I was the one who waded through individual transactions to prepare our taxes (to be prepared by someone else, but initially prepared by me). And I was held responsible for remembering all the major upcoming purchases, even though I have the worst memory ever.
With Tiller and HoneyFi, Rob has the tools he needs to succeed. First, I want to tell you about HoneyFi. It's basically a couple's money tracking system. You can use it a lot of ways, but I mainly use it to ask Rob to categorize a transaction for me. Meanwhile, Rob uses HoneyFi pretty frequently. He checks our account balances, looks over the spending that I do day in and day out (groceries cost how much?), and he sends me GIFs (and claims we pay too much in taxes). Rob isn't a huge nerd, but he likes to get a ballpark figure of where our spending is for the month. HoneyFi gives him that.
Much love to HoneyFi!
Tiller is a far nerdier technology. It synchronizes your bank and investment accounts with Google Sheets. I LOVE Tiller. I get all the joys of a spreadsheet with none of the headaches of actually having to keep it up to date. Spreadsheets have a special place in my heart.
They also make it really easy to create graphs, which is how Tiller helps Rob. Every once in a while, I send him pictures of our spending, and he gets to think about them. And sometimes he says things like, I expect we'll spend less on home improvement next quarter. Then I remind him that we set aside money to reside the house, and he says, oh, I guess I shouldn't expect that then.
This really gets good conversations going.
Much love to Tiller.
Okay, now that I've bored you with conversations about my favorite financial technologies, onto the exciting stuff. Numbers!
Total spending for the quarter was: $11,453 or an average of $3809 per month.
Our reported spending does not include any charitable giving, income/payroll taxes, expenses associated with our rental property, or work related expenses (I did include expenses related to upcoming FinCon since that is an unusual expense for my business which normally operates with just a few software related expenses).
Since it's been a while since I've recapped our spending, you might have a few questions:
First, you'll notice that we don't have a rent or mortgage payment. We own our house outright, and actually could get paid to live here. Unfortunately we have a home remodeling addiction, so we spend at least a few hundred dollars fixing our house every month. You'll see these costs under home maintenance. Home maintenance also includes property taxes on our primary residence which we paid this quarter.The good news on this front is that we're almost done remodeling. The bad news? We'll probably be moving in less than a year.
Second, You'll notice that our largest expense is childcare even though neither Rob nor I works full time. Why is this? It's because we pay a babysitter 3 afternoons a week to watch the kids while I work. We also have Kenny in a preschool, and we count that expense as childcare. He goes 3 days a week, and had quite a bit of trouble adjusting to the rigorous preschool schedule. It seems like he's doing much better now, so I'm thankful we stuck through those first few weeks. Kenny loves being with other kids, so it's a big relief to me that he can handle preschool from an academic perspective. Next year, Kenny will be kindergarten aged, and we're planning to homeschool. I think that play based education is the best way for kids to learn, but it's not common teaching method in public schools. Some private and charter schools offer this method, but we will move around the start of the new school year, so we won't have enough time to research in advance, so homeschool it is.
Insurance includes life, disability, and health insurance for the whole family. We get a killer deal for Rob and the Kids through his school, and I use a health sharing plan rather than health insurance. I'm also underinsured with disability, so that's bad. But in good news, our insurance costs are super low!
Finally, you may see that groceries carry a pretty heavy weight in our family. These costs are only going up as our two littlest eaters become two medium sized eaters. I've also stopped eating sugar and started eating more vegetables and protein. This nudges our grocery bill a bit higher since vegetables have very few calories and make up a bigger part of my diet. Bread and peanut butter are also really cheap foods, but I'm eating less bread than I used to in an effort to overhaul my diet. I expect our grocery costs to hit somewhere around $600 per month rather than the $450 a month that we've become accustomed to. The good news on this front- I feel awesome! If you ever want to feel great, try a two week sugar fast. You'll feel like crap for several days and then... BREAKTHROUGH awesome. Just be sure you eat enough calories. If you don't eat very many fatty foods you'll waste away to nothing in a hurry (or maybe I just ate an unusual quantity of sugar everyday).
Net Worth: $646,000
Thanks to my rock solid investing strategy (maybe), Great market performance, and decent earnings, and a cash transfer that I will not ever discuss in detail, we've seen another gangbusters quarter for the Rounds Family.
Our Net Worth is Now up to $646,000 up $47K from our last quarter's update. This includes the value of our home and rental property at the price we bought them. We expect that our rental property is worth perhaps $4-$5k more than our buying price, but we'll have to upgrade the bathroom prior to selling, so call it a wash. Our personal home is in an area going gangbusters. Thanks to all of Rob's hard work and a red hot market, we expect to earn around $100k over our buy price on the property.
Assets are broken down as follows:
Invested Assets- $415K
Real Estate- $130K
Let me know if you have questions!
I'm a wife, a mom, an employee, and a personal finance nerd who is devoted to spreadsheeting my way through life.