September Net Worth: I Finally Did It!!!!
Despite the challenges of August financials, September turned out to be a fabulous month. I’m so excited because I finally achieved my one and only 2007 annual goal, which was to obtain a $125,000 net worth. Yay!! I’m having great success with the other smaller ones as well. I’ve tracked them throughout the year on this blog, but if you haven’t seen them before, check out the status of my 2007 goal list.
SEPTEMBER BUDGET
The Good:
All of my bills (fixed and variable) came in $32 under budget.
Excluding payroll contributions, I saved an additional $400.
The Bad:
I’ll get straight to the point. I went over my monthly budget…AGAIN. Close to $700 over budget in discretionary spending. Most of it can be attributed to:
BabyGirl’s extracurricular and new activities
Extra withdrawals for my brother’s car
Ongoing battle with food expenses
Overdue graduation gifts. Two of my cousins survived the 4 year peer pressure asylum and pursued higher education. They currently attend two separate but equally illustrious HBCUs. For a moment, I was worried about one of them. But as it turns out, they’ve both made me very proud! I’m the only cousin preaching EDUCATION, EDUCATION, EDUCATION non-stop, so how could I not reward their achievements.
The Ugly:
I’ve decided this budgeting thing is just not for me. I don’t spend frivolously, my bills are paid, I don’t carry revolving credit card debt, and I’m achieving my financial goals. So this crap is getting the boot! I will continue to track my expenses, only because I like to know where my money is going, but I will not limit myself to a certain amount in any specific area. If I begin to have financial problems in the future, I’ll return to the basic budget. But for now, this feature will no longer be included in my monthly financial review. [ ]
SEPTEMBER NET WORTH
Assets: Last month’s salary boost drove most of my asset growth. The higher salary allowed me to beef up the eFund, increase 401k contributions, and increase pension value based on hi-3. I didn’t adjust any property values because I reduced them last month to more conservative estimates.
Net increase: $7,147
Liabilities: Very soon, my only liability will be the mortgage. I paid off over $500 in student loans with approximately $2,400 remaining. The month-end credit card balance is slightly lower than usual. I haven’t changed any habits, so there’s no specific rhyme or reason. As always, I pay the bill in full when the statement closes, but I track CC balances in net worth for full disclosure.
Net reduction: ($848)
As a result, my total net worth increased to $126,187, which exceeds my 2007 goal. So f*ckin fabulous! Ha!
~*~*~*~*~*~Work to achieve, not to acquire.
And as always, BE FABULOUS!
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That is awesome. Did you do a happy dance?
THAT is so wonderful!
Congratulations!
Excellent! Good for you!
Congratulations! You are f’n fabulous.
OH CONGRATULATIONS!!! I am so very very happy for you!
congrats! Not only did you meet your goal, you did it early! You are a Force to be reckoned with.
Excellent! Congratulations.
Oh shucky ducky now!! Go Ma!
We need to dance. What dance shall we do? Hmm?
Oooo…..Crank Dat Soulja Boy it is!
Cuz you supermanned that ish!
Yuuhhhhhhhhh!!!!!!
CONGRATULATIONS!!! so that means we doin da happy dance!!!!
My SHERO!!!!
Remember shucky ducky LMAO. Congrats–this is great news! I re-read certain postings when I need that inspiration or to keep me focused on my goals like when I want to run over to Bergdorf and purchase an accessory that I have no business buying at this stage of the game (somebody stop me!) Well actually your fabulous updates appear in my inbox and help tame that salacious appetite for temporary fabulosity…Gotta love it! Tanya
Fantastic! I was wondering when you were finally going to ditch the budget
I prefer a “reverse” budget. I decide how much I’m going to save, how much extra for the mortgage, etc. and do all that off the top. Whatever money left after that can be spent as I desire. However, it’s a set amount. If I blow it all on shopping, then I’m taking my lunch for the rest of the week.
CONGRATULATIONS!
I’m like Geckogirl - I adopt the reverse budget method.
LOL @ dimples!
Congrats Single Ma!!!
That is excellent news. =)
LMAO @ Dimples!! You crazy girl. I supermanned that ish! HA HA
@ Everyone - Thanks for the support!
Congratu-freakin-lations!
GREAT job!
and to think you had a negative net worth less than two years ago (I think)
WOW…its these moments that let me know that I just need to start…the rest will come.
Because of this inspiration, I’ve started direct deposit to my sharebuilder act, my ing direct and will soon try to make my checking account for bill paying only so I can begin to walk the steps. Thanks!
Souljah Boy? Shooot, we going ol’ skool on this and gon’ TROOP it out!! Way to rock it out!! Yea!!
Congratulations!
You are, without hyperbole, an inspiration.
Get it, girl! That’s what’s up!
Congratumalations!!!!!