Net Worth: August 2010

I don’t know if I’ve ever loved Girl Ninja more than I do right now! On last months, Net Worth Update, I predicted my NW would go down by three thousand dollars after some wedding/honeymoon/moving expenses. Fortunately, Girl Ninja, coupled with some Stock Market positivity, actually helped my NW increase! Totally not expected, but I’m a happy camper 🙂

Here’s the breakdown…

Assets:

Checking Account: $4,216, -$1,823. Still keeping the checking above the normal $1,000 balance I generally try and keep, because I leave for Aruba one week from today and want access to quick cash in case Girl Ninja gets kidnapped or something…only kidding…kind of.

Savings Accounts: $13,047, +$0. No change here because I’m keeping my cash in the checking account until after I get back from the honeymoon. I’m keeping my fingers crossed this Dual Income No Kids thing is as cool as I hear. Should provide for some major saving capabilities for the rest of the year.

Roth IRA: $13,851,+$1,114. Still haven’t made my 2010 Roth Contribution, but I’m 75% sure I will before time is up. Just waiting for life to settle down a bit before I part ways with another $5,000.

TSP (401K): $15,069, +$1,603. The standard 5% contribution heads this direction each month. I also get that 5% fully matched. I invest in virtually the same funds in both my Roth IRA and in my 401K so they generally perform the same.

Liabilities:

Student Loan: $0. That’s right. My student loan is still $0 and it will be FOREVER. I’m not quite sure if I’ll ever take this account off my NW updates. It feels too darn good to re-post it each month and it reminds me I Punched Debt In The Face!!!!

Credit Card: $0. I typically show my CC balance for each month, even though I pay it off in full. Right now the balance is $0 because I just sent in a payment. I use my CC for just about every purchase I make. Some months it’s a couple hundred, others a couple thousand.

Even with a $2,500 honeymoon deposit and $800 in home furnishings, my net worth went up +$2,496. There are really only three explanations for this: 1) Girl Ninja started moving her money in to my/our checking account, 2) the stock market went up, 3) I lived within my means. All said and done, this leaves me with a Net Worth of $46,186. Ready or Not $50K…here I come!!!!!

**I chose not to include possessions (including my car) in my NW calculations, which would probably increase my worth by about $8K.**

Meet vulnerable Ninja…

Humility. It’s definitely a quality I lack. In fact, I’m quasi-arrogant. No, I don’t go around telling people how great I think I am. But honestly, sometimes I think that to myself.

This rings especially true in my financial life. I’m always comparing myself to my peers. I don’t like being average. Wait, let me rephrase that. I HATE BEING AVERAGE. While I don’t think the desire to surpass mediocrity is necessarily a bad thing, I do believe it leads to pride. And pride, my friends, leads to arrogance. And arrogance leads to being a douche bag. And last time I checked, I don’t want to be a douche bag. I mean look at this guy and tell me he doesn’t scream “Douche”….

It’s not uncommon for me to measure my financial success by comparison.

It generally looks like this….

Do I make more money than most of my friends? Yup

Do I have a larger savings than most of my friends? Yup

Do I have more in retirement … ? Yup

Do I have less debt … ? Yup

Does that make me better than them? Yup

Wait. No. No, it doesn’t. There is nothing wrong with answering “Yup” to the first four questions, but when I answer “Yup” to the last one, I’m in definite need of a douche-bag-reality-check.

Do I make more money than most of my friends? Sure, but why does that make me better than them? Answer: It doesn’t. Being that I graduated from a small private college, I have quite a few friends that went to work in the non-profit sector. They get paid diddly squat (haha, the word diddly is funny). They may not make as much as I do. And they may not be able to afford some of the “luxuries” I can. But what they lack in income, they more than make up for in life experiences.

Yeah, I make $65,000 per year, but when was the last time I went to Africa in an effort to stop child soldiering like my friend Jed? Oh wait, that’s right. I haven’t. Maybe my income’s not so awesome after all.

Last night, I was reminded I’m not as great as I think I am. I need to stop using my peers as a metric to evaluate my level of success. It doesn’t matter how much THEY make, how much debt THEY have, or how much THEY save. All that truly matters is that I am doing the best I can, with what I got.

Okay I’m going to go rescue a puppy or donate a kidney or something 🙂

Do you ever struggle with pride?

How do you keep yourself humble?

Who inspires you the most (my guess is it’s not your friend that MAKES the most, but your friend that DOES the most)?


Net Worth: May 2010

Can I get a booya for a HUGE leap in my net worth? If the month of April were a person, I would probably want to make babies with it…unless it was a guy, then that would just be weird. Seriously though, I had a great month. I paid down a ton of money on my student loan and am oh-so-close to being debt free.

Here’s the breakdown…

Checking Accounts: $3,160, +$492. Looks like it’s time to transfer some money from my checking account again. April was one of my three paycheck months so my income was rather generous. Why can’t every month be three paychecks?

Savings Account: $14,712, -$8,613. Well I’m a whole heck of a lot more cash poor. I told you I had some tricks up my sleeve in last months net worth report. That trick my friends involved taking $10,000 from my savings to throw it at my student loan. Fortunately, I was able to scrounge up $1,400 to put back in there to make the total only $8,600. I have $10,000 in an E-fund, $2,022 for temporary savings, and $2,681 left in the wedding fund.

Roth IRA: $14,826 +$336. I have fully contributed to my Roth since my senior year of college. I’m hoping to be able to scrounge up the money to do so again this year!

TSP (401K): $14,542, +$947. The standard 5% contribution heads this direction each month. I also get that 5% fully matched. Free money is the second greatest thing in the world. The first greatest thing, of course, is JUSTIN BIEBER.

Student Loan: -$4,287, +$10,208. Do you know how good it feels to have this sucker ALMOST paid off. I am so close I can taste it. If all goes according to plan, I should be debt free by August. Are you excited for me!?

That put’s me at a net worth of $41,789!!! I’m up +$3,895 from last month which may or may not TOTALLY TURN ME ON! Bow chick a bow wow. I don’t suspect having another big month like this for a while. It was a rather large jump for a few reasons. 1) Three Paychecks 2) $360 in blogging income 3) $240 in tutoring income 4) Overall good spending habits. Just goes to show if you spend less than you make, things work out.

Thanks for stalking me checking in on yet another net worth update. See you tomorrow 🙂

**If you have wondered why the blue bar (debt) in the graph sometimes increases, it’s because my credit card balance gets taken in to account each month. Even though I pay the balance in full it still appears as a “liability” in Quicken. I just deduct this from my checking account balance to give myself an accurate net worth reading. This is why my actual NW increase, may not always necessarily match with the totals of each category, but I promise the overall total is REAL. I chose not to include possessions (including my car) in my NW calculations, which would probably increase my worth by about $8K.**