Tuesday, December 2, 2014

Net Worth Update: Negative November Edition!!!

Pull up a log round yon fire and unbuckle your pants from over indulging in yet another glutenous Thanksgiving.  I am about to regale how a hard November for the Old School family ended well.

Mint says my net worth is now...

- $131, 493.00

This is a difference from last month of....

 - $ 952.22

Hmmm....well how that number wasn't supposed to go down!  Well it did, so let me explain why.

Firstly I had an unexpected surgery on a decaying tooth.  OUCH!  Well actually the surgery was pretty painless, it was afterwords that kinda sucked.

Secondly The bill from my wife's ex-doctor showed up this month finally and we payed it.  It did not show up in last months mint statement so I believe it kind of screwed up our net worth.

I lost a little traction in the month of November due to a couple of other things as well.  Mint seemed to be giving me hick-ups within the budgets and I could never get them to line up with what I had set them up for.  The reason for this is because our credit cards were just being entered as fees/payments in mint and the money was not being actually distributed to the proper categories.

For example: One credit card bill would contain gas, medical, and groceries...but I could not figure out how to enter the money into separate categories once mint processed the credit card fee.  If someone knows how to do this PLEASE leave a comment at the bottom of this article, pm me, email me, or send me a freaking carrier pigeon and I will love you forever.

I have since gone back to using spreadsheets and receipts.  Works fine and the wife likes it better anyways.  I still do use mint to track basic accounts, investments, and expenses.

This whole ordeal did lead to me having a minor breakdown at the monthly budget meeting.  My wife was trying to explain things to me, and we had about a bazillion (ok like 16:) accounts set up and I just could not figure everything the freak out, so I freaked out.  My wife is very laid back when it comes to this sort of thing so she allowed me to give my input and we changed it up a bit.  This is what our accounts look like right now...

1. Emergency Fund                  $5,785.49
2. Checking                              $295.62
3. Chase Sapphire Preferred  - $99.90
4. Wife's Card                        - $371.08
5. Mortgage                           - $161,824.69
6. Wife's 401k                          $12,446.35
7. My Roth                               $553.24
8. Wife's Car                            $9,222.00
9. My Car                                 $ 2,500.00

(I still can not get Mint to accept my other retirement account, they just don't have the support yet.  So for now I still have to manually check my 403b:/  Def first world probs).

We cut our accounts down to 9 which is much more manageable for me, even if we add 2 or 3 more accounts.  It just was to much for me to see 16 accounts hanging out with money going everywhere, much to confusing!

Goals:

1. Savings: I still have the goal set for 7k and I want to hit that by the end of the year.  Is it doable?  Probably not:)  But you have to have goals or otherwise you won't achieve them.  Currently I'm short $1214.51 just in case you are curious.

2. So usually I reserve this goal for retirement and this month is no different.  I need to find out how much money I have hanging out in IMRF (this is a separate retirement system for school support personal).  Before I became a teacher I worked as a teacher's aide and contributed the minimum amount to IMRF.  I now need to see if I can roll that money over to an IRA, ROTH, etc... with taking the least possible tax hit possible.  That is my goal for this month.

3. Side hustle nation: I am indeed a member of side hustle nation and so far have made a whooping $1.09 off of my buying and selling items.  It isn't great, but it is a start.  I look at it as a learning experience that I am getting paid for.  (The profit is factoring in all expenses like gas, shipping, fees, etc...)  I think I will post better results for the month of December, because if I don't the Mrs. has threatened to shut the operation down:)

All kidding aside November may not have had a positive financial outcome, but it did boast my favorite holliday.  I loved Thanksgiving and extremely grateful for all that I have.  I will continue to write, and update everyone about the Old School Family's success and failures.

Gobble Gobble... and get ready for that cruddy Christmas music till June!