Feb Update: Budget & Net Worth(less)

Here is our update for the end of Feb.  I added the monthly column this time and got rid of a couple of things.  It’s really a work in progress.  But I’m pretty excited about this months gains.  I’m not going to explain our normal budget part cuz it hasn’t really changed, but if you want to read the explanations of our budget click here.  Also to clarify, the section that says Beginning of 2011, that is actually the End of Jan 2012.  It will be fixed on the next update.

Savings:  We totally rocked our savings goals for the month of Feb.  Increasing it by $2549.99.  Wish we could do this every month.  The wife did awesome with grocery shopping and kept our credit card bill around $600 (groceries,gas, misc).

Investments:  We had a pretty good month for our 401’s.  It was about half contributions and half gains.  For the month total we had a total gain of $2,594.34.  I’m pretty happy about this number also.  Although that could have been a heck of a lot more if I would have held all of one of my trades. (I kept free shares from previous profits and finally sold the free shares for a gain of over 250%)

Debt Payments:  This was another screwup of my budget, our mortgage balance that I posted last time was the actual balance at the end of this month.  Our payment comes out the 1st of every month so next month will see a different number.  Kinda sad to see it the same.  We paid just our normal payments on the camper and student loans because we are waiting for our refinance to get finished. Once it is completed, those numbers should be going down considerably every month due to our planned Debt Snowball.   For the month our debt was only decreased by $235.83.  Not a good number in my book, I guess it’s better than an increase though. Oh well.

Total Assets Increase:  $5,144.33

Total Debt Decrease:     $235.83

Net Worth End of Jan:   -$83,715.20

Net Worth End of Feb:   -$78,335

Total Increase in Net Worth: $5,380

All in all I am pretty happy with this month, although I know I could have done better (half of the gains are from investments), it is still a step in the right direction.  Next month should be better due to one of my two yearly 3 paycheck months and our taxes being done.  Also during March, we are actually going to track outgoing money  (didn’t do this in Feb, oops) so we have a better understanding on where our budget needs to be.

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6 responses to “Feb Update: Budget & Net Worth(less)

  • BrokeElizabeth

    Sounds like February was a great month for savings! And good luck with tracking expenses in March – it can be tricky to get into the habit of writing down everything you spend, but it’s worth it in the end.

    • debtntaxes

      I think so also. I have tried to keep track of every single purchase a while back, normally only lasted a week or so. I normally use the debit card so even if I don’t write it down I should be able to track it that way. Although the plan is to write everything down, keep the list on me at all times to keep me motivated.

    • Eloise

      That’s the plan, keep people dependent on the government for their income, so they will in turn vote for more and bigger government, and support the Socialist Welfare Democrat party. This is the same reason Obama has reduced tax incentives for charitable conbirtutions, to reduce charitable contributions so more people are reliant on the government for their money.

  • Alice at Dont Debt

    Awesome job! Even though your net worth is negative right now, you’re making strong moves toward getting it where it needs to be. I really need to work on a net worth statement of my own.

  • debtntaxes

    It would be awesome if I could average this every month, then it would only take about 15 months to have a positive net worth. But I know there will be months, especially in the summer during motocross season, that the number will be way less. I will be happy if each month is positive no matter how much. Thanks for the encouragement!

    • Reggie

      “palin has made over 12 million since she quit.”It amazes me that a huge portion of the right wing has gotten behind Palin. During the election, even McCain was fed up with her ignorance. Then, she goes and quits her post as governor.She obviously got coached on picking up some new liueitarran-esqbe rhetoric which completely contradicts the nonsense she spewed during the elections and people rally behind her. It wasn’t long ago that she was tripping over her words with Katie Couric about how she thought the bailout was beneficial.

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