April 2008 Net Worth
My net worth is $148,500, an increase of $4,363 or +3.03% over March 2008.
As reported in March, I wasn’t paying very much attention to my finances. Well guess what? I really slacked off in April! Fortunately, I ended March with a $3.8k net worth increase, and again in April with a $4.3k increase. Wow, imagine what I could do if I really paid attention! LOL! Thank goodness for automatic contributions and market performance! With 8 months left in the year, I still need $51,500 to meet my 2008 net worth challenge. This will require an average monthly increase of $6,400 through December. Hmm…stranger things have happened. LOL
By now, I think all of the categories are self explanatory. If not, let me know and I’ll answer all questions in the comments.
INCOME & EXPENSES
April was a very difficult month for me. A few weeks ago, I publicly confessed to emotional spending, then forced myself to transfer an extra $500 to savings before I hit rock bottom.
Net Income: $5,565
Total Expenses: $5,247
- Saved: $1,289
- Bills: $2,407
- Necessities: $504
- Non-necessities: $1,047
Net Cash Flow: $318
I have no idea how I ended the month with positive cash flow because 80% of the ‘non-necessities’ were incurred within the last two weeks of the month. Had I realized there was more, I probably would have spent that too. LOL
I considered providing a more detailed explanation of my thoughts and feelings that led to the emotional spending spree, but I don’t know if it will serve any real purpose for you. Besides, May blossoms are all about new beginnings and I need to work on my $6,400 net worth increase!
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I’m new to personal finance, so don’t really get how retirement savings can jump up so quickly, but well done to you :-)
What don’t you get?
Contributions + Market Changes = Retirement Balance
I’m not sure how to respond because I don’t understand what you’re saying. [-SM]
Single Ma, Why not just automate a higher % of income to savings to make certain you meet your goal?
Lawd child, that’s an excellent idea! Do you mind paying my bills so I can contribute a higher % of my income to saving/investing? [-SM]
Wow! I slipped up in April too … with the emotional spending. Must be the spring weather or something. So hard not to sit on a patio with some margaritas after a quick shopping trip. Good thing us single moms can barely find the time to shop, let alone enjoy said margaritas.
That’s one of my big single mom perks – no time to shop!
Girl please, I’ve never been too busy to shop and drink. I don’t know what world you’re from, but being a single mom is a responsibility, it doesn’t define my life. [-SM]
I can’t believe how much you have in your retirement. Awesome. Have you been contributing personally outside of your 401K?
Yes, I also have a Roth IRA. [-SM]
Ma,
Still over here shaking my head and LMAO! Get out of the driver’s seat, girl!
PS I’m praying for you.LOL
The debil made me do it. LOL But keep praying for me though. Lawd knows I need it! [-SM]