April 2017 Income Statement
April was a good income month and a somewhat high expense month (see spreadsheet screenshot).
Our total income in April was $11,622.20. In addition to our two regular paychecks, I received a monthly bonus of $2,500 gross ($1,496.25 net). We also got a $450 monthly auto allowance from my company and $55.99 in internet reimbursement from my wife’s company. We earned $2.83 in interest income from our savings account.
This month, our expenses were a bit higher than budgeted, but not too bad. We spent a total of $10,325.58 in April. Big ticket items include $217 in vacation, $313 in entertainment (concerts), and $484 in pool maintenance.
Next month will be my last month receiving my guaranteed bonus ($2,500 gross monthly bonus) but other than that, it should be a typical expense and income month.
April 2017 Net Worth Update (+$9,497.74)
Overall
April was a very good month. Our net worth increased $9,497.74 from last month to a total of $557,368.53 (see spreadsheet screenshot). We passed our $550K net worth milestones this month and nearly made it to $560K.
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 5% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution and chips in an additional 5% on top of the match (both 100% vested when deposited). I just started a new job and am not yet eligible for my company’s 401(k) plan. My wife contributed $507.50 to her 401(k) and her company deposited another $1,015.00 into her 401(k) for her 5% match and 5% extra “chip in”. The total balance of our retirement accounts increased $5,900.69 from last month to a total of $230,438.11.
Brokerage Account
Currently, our brokerage account consists of $500 cash and one stock (my wife’s old company) valued at $11.93 (on a $2,000.00 in initial investment). We are moving a little cash into our brokerage account as we are able to with the intent to make a purchase when the market dips again.
Cash & Savings Accounts
Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month. This month our cash and savings accounts increased $1,852.83, bringing the total to $15,553.12.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $224.08 from last month to a total balance of $18,814.82. We also contributed $0 to our daughter’s 529 Plan and it increased $114.52 from last month to a total balance of $9,593.16.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$530K. The current balance of our 15-year, 2.85% mortgage loan is $247,203.25. We paid $150 extra towards principal this month.
Cars
My wife has a company vehicle (and gas card) and I have a 2012 sedan with 70K miles. My company gives me a $450/month vehicle allowance and provides me with a gas card. The loan balance on my car is $10,578.58 at 1.99%.
Credit Card Balance
We do not currently have a credit card balance that is not paid in full each month.
NET WORTH MILESTONE: $550,000
March 2017 Income Statement
March was a phenomenal income month and a high expense month (see spreadsheet screenshot).
Our total income in March was $32,097.07, our second highest income month ever (April 2014 was our highest at $37,327). My wife received a 1.5% raise this month. In addition to our two regular paychecks, my wife received a quarterly bonus of $17,325 gross ($9,776.48 net) and I received a monthly bonus of $2,500 gross ($1,496.25 net). We also got a $10,750 tax refund ($8,688 federal, $2,062state), $450 in auto allowance from my company and $44.99 in internet reimbursement from my wife’s company. We earned $1.15 in interest income from our savings account.
This month, our expenses were high but they were surprisingly low relative to our income. We spent a total of $16,277.30 in March. Big ticket items include $2,000 in bathroom tilework, $1,950 in extra mortgage payments, and $375 to our tax account.
Next month forecasts should be a pretty typical expense and income month, with the exception of my $2,500 gross monthly bonus that will be a nice perk.
March 2017 Net Worth Update (+$19,709.83)
Overall
March was an AWESOME month. Our net worth increased $19,709.83 from last month to a total of $548,870.79 (see spreadsheet screenshot). We passed our $530K and $540K net worth milestones this month.
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 5% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution and chips in an additional 5% on top of the match (both 100% vested when deposited). I just started a new job and am not yet eligible for my company’s 401(k) plan. My wife contributed $1,373.75 to her 401(k) and her company deposited another $2,747.50 into her 401(k) for her 5% match and 5% extra “chip in”. The total balance of our retirement accounts increased $2,824.08 from last month to a total of $225,537.42.
Brokerage Account
Currently, our brokerage account consists of $500 cash and one stock (my wife’s old company) valued at $11.43 (on a $2,000.00 in initial investment). We are moving a little cash into our brokerage account as we are able to with the intent to make a purchase when the market dips again.
Cash & Savings Accounts
Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month. This month our cash and savings accounts increased $12,844.15, bringing the total to $13,700.29.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $500 to our son’s 529 Plan and it increased $269.38 from last month to a total balance of $18,590.72. We also contributed $500 to our daughter’s 529 Plan and it increased $384.43 from last month to a total balance of $9,478.64.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$530K. The current balance of our 15-year, 2.85% mortgage loan is $248,544.55. We paid $1,950 extra towards principal this month.
Cars
My wife has a company vehicle (and gas card) and I have a 2012 sedan with 65K miles. My company gives me a $450/month vehicle allowance and provides me with a gas card. The loan balance on my car is $10,766.03 at 1.99%.
Credit Card Balance
We do not currently have a credit card balance that is not paid in full each month.
NET WORTH MILESTONE: $540,000
February 2017 Income Statement
February was a good income month and a lower than average expense month (see spreadsheet screenshot).
I started a new job on 1/30/75 and our total income in February was $9,683.90. My wife received her two regular paychecks and I received one week unemployment ($450), half a paycheck and a full paycheck. My wife also received $341.17 in company reimbursements. We also earned $1.42 in interest income from our savings account.
This month, our spending was lower than it has been in many months, although higher than our budget. We spent a total of $10,931.53 in February. Big ticket items include $2,165 in nanny/babysitting, $481.82 in concert tickets, and $550 for my wife’s gym membership (which her company reimbursed $320 of). We’ve did a much better job managing our grocery and dinning expenses.
Next month forecasts to be a HUGE income month. In addition to our regular paychecks, my wife should receive a $17K gross quarterly bonus, I will receive a $2,500 gross monthly bonus, and we may get a tax return. In addition, my wife will receive a 1.5% raise beginning her second check in March.
Net Worth Milestone: $530,000
February 2017 Net Worth Update (+$8,724.58)
Overall
February was a very good month. Our net worth increased $8,724.58 from last month to a total of $529,160.96 (see spreadsheet screenshot).
Retirement Accounts
Our retirement accounts are comprised of our 401(k)s, our Roth IRAs and our Traditional IRAs. We contribute 5% to my wife’s 401(k). My wife’s company matches up to 5% of her 401(K) contribution and chips in an additional 5% on top of the match (both 100% vested when deposited). I just started a new job and am not yet eligible for my company’s 401(k) plan. My wife contributed $500 to her 401(k) and her company deposited another $1,000 into her 401(k) for her 5% match and 5% extra “chip in”. The total balance of our retirement accounts increased $8,706.40 from last month to a total of $222,713.34.
Brokerage Account
Currently, our brokerage account consists of $200 cash and one stock (my wife’s old company) valued at $14.93 (on a $2,000.00 in initial investment). This stock is going to zero L
Cash & Savings Accounts
Cash and savings accounts consists of a small sum of cash at home and our online savings account balance. It does not include our checking account balance that we use to pay our bills each month. This month our cash and savings accounts decreased $2,698.58, bringing the total to $856.14. Kind of scary, I know, but we will be refilling our savings next month with bonus money.
College Savings Accounts
Our kids have 529 Plans through Vanguard. This month, we contributed $0 to our son’s 529 Plan and it increased $926.76 from last month to a total balance of $18,321.34. We also contributed $0 to our daughter’s 529 Plan and it increased $461.08 from last month to a total balance of $9,094.21.
Home
We use the $528K purchase price that we paid in July 2016 for our home value. Current comps in the area are ~$530K. The current balance of our 15-year, 2.85% mortgage loan is $251,678.34. We paid $100 extra towards principal this month.
Cars
My wife has a company vehicle (and gas card) and I have a 2012 sedan with 60K miles. My company gives me a $450/month vehicle allowance and provides me with a gas card. The loan balance on my car is $10,948.41 at 1.99%.
Credit Card Balance
We do not currently have a credit card balance that is not paid in full each month.