One thing that's nice about doing a spending report is that it helps you to realize just how bad I am at managing cash flow. For example, I paid the home owner's association dues for our rental property three times this month. The first two were expected (since I forgot to pay the previous month due to me being an air head), but the third one I think happened because I kept having bad dreams about missing the bill again, so I just shot off an extra check to the company. This bill could be a saga all on its own, but the moral of the saga would be something like; manage your cash flow better than I do.
So anyways, for the money voyeurs among you (and I know there are many because that's why I started this blog), here's the lowdown.
Total Spending $3176.25
Noticeably absent from our spending is a huge amount of home renovation spending. That's because the repairs done this month either hit our pocketbook last month, or will hit in July. If all goes according to plan, we will spend at least $7200 on home renovation in July ($4300 of which is our roof).
Next month is sure to be a doozy on the spending report, however, this is all part of the plan.
Topping our family spending was childcare coming in at $1200 for the month. Our rental came in next (with a triple payment) at $805.26.
I think the best money that I spent was the $64.82 for travel which was two tanks of gas (and possibly a few gas station snacks) that I bought while I was on a business trip. My company is headquartered in my home town, so I flew down the weekend before the business part of the trip and had the opportunity to drive several hours to my in laws house to visit, and to spend Father's day with my dad. It's really fun to see family, especially for the most part on my company's dime.
Net Worth $470,252 (Down $3,487)
Despite our very modest spending, this month was a doozy for our net worth. At $470,252 we are down nearly $3.5K from May.
All of our investment accounts were down 1.5%-3.5% (the 3.5 comes from a Roth that has a European mutual fund in it. Thankfully, I like Greek food, so I'm not too made at Greece's fiscal imprudence). We are looking forward to doing a good bit of investing this coming month (despite the fact that we are spending like crazy, we are spending saved money, and we will cash flow the investing). I think this is called Dollar Cost Averaging for the win!
As usual we are keeping both of our properties at their book value, although we are very hopeful that all our home improvement will yield a flat or positive ROI when we sell.
Will we hit $500K?
I doubt our net worth will surpass $500K this year, at least in the way that we count our net worth. We hope to spend a little bit less than $18K more on our renovations (two bathrooms, one kitchen, one floor and trim remain, and then we'll start thinking about landscaping), and I think our plan is to shovel about that same amount into our various investment accounts this year. With a zero percent increase in the markets, we would be a little bit above flat from where we are right now.
Even if the raise I'm lobbying for comes through in the next month or two, we would still fall far short of the $500K mark. Unless the market goes truly gang busters, I think it's going to take at least another 12 months for us to hit the half million mark.
So how was your month?
I'm a wife, a mom, an employee, and a personal finance nerd who is devoted to spreadsheeting my way through life.