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...
- $ 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!
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!
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