February 2009 Net Worth Update (-$2,630.57)

February saw a decline in our net worth. It was reduced $2,630.57 from last month to $39,383.12 (click on spreadsheet below).

What worked:
Our prayers were answered and my wife found a new job that pays her more than her old job and has better benefits.

What did not work:
My employer implemented a company wide salary reduction resulting in a 10% salary cut for me on 2/25. Initially, I was expecting a 20-25% reduction in pay, so the 10% reduction is much more bearable. We also contributed $657.47 total to our retirement accounts (401k and Roth IRAs), but still saw our total balance decrease by $2,709.87.

Next month:
Next month should be a mixed bag. My wife will have her first full month of employment at her new job that includes a great salary and benefits and a final bonus check from old company. On the other hand, it will also be my first full month of my reduced salary. We will also have ~$2,000 in Federal and State taxes to pay and ~$800 in medical bills that may come due.

Leave a Reply

Your email address will not be published. Required fields are marked *