Net Worth Update – December 2012


Net Worth December 2012 Aspiring BloggerIf I’m 100% honest, I’ve been looking forward to this end of the year net worth report for a while. It’s awesome to keep track on a month-to-month basis, but I really wanted to see where we’d end the year. By the middle of the year I was hoping for and end of year number of around $175k, but as you can see – we blew that out of the water! I will be the first to admit that my wife and I have been incredibly lucky in life to be in our mid/late 20’s and have a combined net worth of almost $190k. I will also be the first to say that we’ve worked incredibly hard to earn and save this money, which feels pretty damn good!

I know (especially from work) a lot of people who make great money but spend it on (what I consider) frivolous purchases and end up with little to show for it. We could definitely do the same – but we’d rather spend wisely and reduce the time it takes us to become financially independent. Who knows, we might even be able to retire a little early! Enjoy this month’s net worth update – I hope you’ve taken the time to put yours together!


Cash-$800 – We deposited the money we received for my brother’s plane ticket, so we’re back to a reasonable amount of cash on hand to end the year.

Cash Savings+$5,199 – A good increase in cash savings to end the year, although some of this increase will be used to payoff our credit cards, so it’s not as great as it looks!

Emergency Fund – +$12 – Another month, another few dollars in interest rolls in. As this is our emergency fund I’m ok with the low returns, but it sure would be nice to go back to 3, 4, or even 5% interest rates!

Taxable Investments+$0 – No progress – but I’m making it one of my New Year’s resolutions to get working on this category!

Roth IRA+$1,489 – A decent month for the stock market combined with our regular contributions have helped this category end the year on a high note. Starting in January our contribution will increase as the limit for Roth IRAs will be $5,500/person/year in 2013 from $5,000 in 2012. Hopefully this will combine with a great market to significantly increase the value of our retirement accounts

401(k)+$1,538 – Well, after finding new accounts each of the last couple months, this increase is much tamer by comparison. I’m ok with is – and happy that I have found all outstanding retirement accounts…hopefully! This means we should have a good benchmark to compare the end of 2013 to when we get there.

Auto Value-$497 – Dang, and I thought last month’s decrease was bad! We drove Mrs Aspiring Blogger’s car 2700 miles on our trip to Florida and most of the decrease was because of her car, so it was expected…but dang!! As I’m working locally and putting miles on my car this category should go down at a higher rate in 2013 than it did in 2012, but there’s nothing we can do to change that!


Credit Card+$449 – With Christmas, the Florida trip, and the upcoming Europe vacation expenses – I’m just glad that our credit card expenses didn’t increase more than they did!


As months go, this one was pretty decent. If you looked at my December Income and Expense report you already know that income was down and expenses were way up – but even so we were able to increase our net income by $6.5k – not bad! Cash keeps increasing and we still don’t have debt – so life is good! To think about it another way – my wife and I could both lose our jobs and we could continue our current spending patterns for approximately 3 years with just the cash in our savings accounts….CRAZY!!! Hopefully it never comes to that, but it’s nice to know that if things ever get bad, or we get into a bad situation, we have that kind of option.

They say that money can’t buy you happiness – which is true – but it can definitely give you options. The ability to be location independent and financially independent are two options that will open up to us once we have enough money! At the rate we’re increasing our net worth, it won’t be too long before we get there!

How did the last month of 2012 treat you? Did your net income increase/decrease significantly? Do you have any big plans to grow your net worth in 2013? Let me know in the comments!


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