It’s been a long long time since I’ve written one of these reviews (back in May is my last one) so those of you who have been patiently waiting for one of these can finally rejoice, it’s here. Some personal finance bloggers give you brutally and painfully detailed account information, I just give the roll up information and then look back at what I did wrong, what I did right, and any other big changes.
All the gory details are after the jump.
Net Worth: $146,886.30
Retirement Assets: $67,501.11
Normally there are percentages next to those number, they’ll return next month.
Here are some things of note that have changed in my financial picture since I last wrote one of these:
- I’m engaged. While the numbers above partially reflect some of my fiancée’s assets and liabilities, they don’t reflect all of them. In fact, the only financials on her side that are counted are those that we share in a joint bank account where we both direct deposit our paychecks but that hasn’t been significant since we’ve only had about a month of paychecks deposited in there so far.
- I switched jobs. Hopefully my net worth growth curve will be elevated with the increase income but it also experienced a slight blip as a result of my former employer paying me for two and a half weeks of vacation. That temporary blip will be very temporary as I’ve already put that away for my new windows and doors.
- I paid off one 0% balance transfer. It was the Citi mtvU card , a 6 month offer, that got paid off. After all these 0% balance transfer deals expire, I’ll probably stop doing them. While it’s taken only a small amount of time, there is a lot of hassle involved and I’ve gotten too busy as my new job to really have the energy to stay on top of these.
- Opened Up A Vanguard Account For Extra Savings. My fiancée opened up a Vanguard mutual fund account (we put it in her name since she’ll be in a lower tax bracket and we aren’t yet married) and we’ve deposited $5,000 into it and put it with an index fund, this will be the first time any one of us has invested money in the market outside of a retirement account (401k or Roth).
Some thoughts on my mind:
- Rolling over my 401(k). I was looking at the fees on my former employer’s 401(k) plan funds and most of them were under 0.7% with the exception of the Emerging Markets fund which had a whopping 1.5% fee. While Emerging Markets had performed quite well for me, I am debating whether or not I should just push my 401(k) to a Vanguard IRA and put it in a Target Retirement fund.
- Business Income. This blog has been incredible, all of the folks who read it are incredible, and I’ve been lucky to make even a penny off just writing my thoughts on money. That being said, I have no idea what I should do with this extra income. Right now it just gets lumped into my bank accounts and pretty much disappears into the numbers (with the mental note that we’re probably saving it for the wedding) but I’d like to earmark it for something bigger after we’ve saved enough for the wedding. I’ve thought about using it as a down payment on a rental property but I think I need to research that a little bit more before I do anything drastic.
- Budgeting Daily Expenses and Being More Frugal. I’ve been really really lax on this the last year or so. Part of that was because I was over-diligent before I bought the house and I may have been burned out because of it, keeping track of expenses pretty much sucks honestly, but you have to do things you don’t like to do in order to achieve the goals you want to achieve. Another part of the reason was that this blog started to earn money and I saw that money as “free.” I wasn’t really “working” for it and so any excess spending I had would be covered by this income… that’s a bad strategy, it’s a lazy and irresponsible strategy, so I’m going to change it.
Well, that’s that, tune in next month to see how things have progressed and if you have any advice, as always, I welcome it with open arms.