Tuesday, July 11, 2006

June Wrap-up

My net worth at the end of June was $285,653, up almost $30,000 since the end of last year but still pretty dismal over the last couple of months. If I hadn't cashed out all those stocks and mutual funds in April, it would have been worse, though!
My net worth includes:
about $155,200 in retirement savings
about $13,500 in stocks and mutual funds
about $4,300 in I-Bonds
a credit card at about -$2,000
the rest is cash, CDs, and a 10% deposit on my condo

My expenses for the month were quite high:
Clothing: I finally bought some! $291, though some of that will show up as a return next month
Dining: really high at $984, due to going out a lot, mostly while my friend visited
Entertainment: high at $177, again due to friend's visit
Travel: $1,151-- this is high for the month, but I'm still well under budget for the year.
Other categories were pretty much in line or under budget.
My total non-tax, non-business expenses were $3,836. Year to date, my average monthly expense amount works out to about $2,700. I like to compare this expense amount to my take-home pay, which is just under $4,000 a month (not counting 401k, flexible spending account, etc.) I aim to save at least $1,000 a month out of my paycheck. Then any interest I earn is gravy on top of that. This month was an "ouch" because I only saved about $89 out of my paycheck. The next few months will also probably be "ouches" as I start getting into moving expenses, etc., and higher housing costs that will take a bigger bit out of my paycheck up front. So I'm going to grit my teeth and try to get on the austerity program for a while!


LondonBuki said...

I am really impressed with what you are doing!

I have finally decided to be in control of my finances so I have started a new blog - http://fromred2black.blogspot.com/ - to detail this.

I will be visiting your blog often for inspiration :-)

Well Done!

Miguel said...

I hate to tell you this, but in the course of moving into a new home, especially one that you just puchased, it is near impossible to save money during the transition. Figure about one year of seeing money disappear from your wallet faster than you can count it.

Moving costs, eating out while your kitchen is a mess costs, furnishing costs, new window treatments costs, etc. Keeping track of expenses is that much more difficult when your life is in total disarray.

Hope you fair better than I have with moving.

BTW, how did your interim housing situation turn out? Last we heard you had to be out soon.

- Miguel