Last month I was worried that we wouldn’t be able to maintain the $7k increases – so of course in November we have an almost $10k month! This was definitely an abnormal month, so be sure to read the details to see why our net worth increased so much. Obviously it would be awesome to think that we could keep increasing our net worth at this rate – I don’t think it’s feasible. Enjoy the details below!
Cash – +$800 – Definitely a big jump in this category for November, but it was expected. As I wrote about in my November Income and Expense Report, my brother paid us back for the plane ticket we bought him. And you can see that he paid us back in cash – which is always welcome. We don’t really go through cash very fast, so I think we’ll probably deposit most of it at our credit union the next time we’re over that way, but until then it’ll stay in our safe.
Cash Savings – +$4,636 – A smaller increase than last month, but definitely a decent increase here. When you combine this number with the increase in cash the number looks even better.
Emergency Fund – +$13 – Nothing has really changed here, so this number should just go up slowly, but surely – unless something crazy happens (like a HUGE emergency).
Taxable Investments – +$0 – I still haven’t made any progress here, so this number stays the same. Soon…soon…hopefully!
Roth IRA – +$1,216 – November was a pretty good month for the stock market. I’ve still got 30+ years before I can access this money, so none of this movement really makes a difference at this point. The key is just to keep adding money so that when you are at an age where you can access your retirement money, you have something to access! While my financial independence aspirations mean that I don’t want to wait until I’m 59.5 to retire and access my Roth IRA money, I will want/need this money when I get to that age. We are saving money in other places so we can access it without the age restrictions that a retirement account puts on you.
401(k) – +$3,078 – WOW – what an awesome month…right? Well…kind of. About a thousand dollars of this increase is from putting more money away and investment returns. The other $2k is from my wife’s additional retirement account that we just figured out how to access. Now that we’ve got online access to all of our work-based retirement accounts (2 for me, 2 for my wife), I should be able to update them all each month and these random spikes won’t be a common occurrence. Of course, if I randomly find more money hiding somewhere – I’m not going to be upset about it!!
Auto Value – -$493 – Another sharp decrease in the value of our fleet of cars this month. I guess the used car market isn’t as good right now, so values are just decreasing. Oh well, the cars don’t represent a huge percentage of our net worth so I’m not too worried that they keep dropping in value – although it would be nice if they didn’t!
Credit Card – -$426 – Much better! The biggest change here was not having 2 new iPhones to pay for this month. We have been buying a lot of Christmas gifts and we spent more because of our F1 Mini-Vacation so I’m a little surprised we didn’t spend more – but I’m not going to complain.
Another great month in the Aspiring Blogger household. In just a few short months our net worth should be over $200k, which I think is an amazing milestone. Having over $107k in cash is definitely a limiting factor in increasing our net worth faster. It’s currently only earning about $60 or so each month – approximately 0.75% interest. If my wife and I can figure out what to do with this money and put it somewhere where it will earn some real money, then our net worth should increase even faster. As I talked about in my first net worth update we have a few options, but we’re still 6 months to a year away from making a decision – at the EARLIEST! So until then, expect slower net worth increases as a result.
How was your November? Did your net worth increase? If not, what are you doing to make sure that December is a better month? Let me know if I can help!!