May 2008 Net Worth
My net worth for May 2008 is $151,701. I passed the $150k hump - yay!! This is a $3,203 or 2.16% increase over April 2008. Most of it can be attributed to my 401k. There was a lapse in contributions to my other investment accounts due to payroll issues at the new job, but we’re back in business. I’m still a long way from my annual net worth goal of $200k, but I’ll keep hope alive. *pumping fist in the air* What? Miracles can happen! LOL
INCOME & EXPENSES
May was a decent month, but don’t let the numbers fool you:
Net Income: $6,423
Total Expenses: $5,334
- Saved: $759
- Bills: $2,261
- Necessities: $1,216
- Non-necessities: $1,098
Net Cash Flow: $1,089
Based on the cash flow, it appears as if I did an excellent job controlling expenses, but I shall not tell a lie. The $900 stimulus rebate provided a buffer, most of which was promptly donated ($500) and the rest ($400) was spent on…umm…I plead the 5th. LOL
But wait, I’ll be honest about something. I exceeded my monthly spend plan in several categories. For one, the friggin’ cell phone bill was $115 higher than usual! When I saw it, I was like what the what?!?!?! Unfortunately, I can’t even blame BabyGirl this time. Darn! Other overages include:
- $350 on medical expenses
- $250 on vet visit (future post comparing annual pet expenses)
- $260 on personal pampering (money well spent)
- $185 dining out (includes Crackbucks obsession)
- $90 in parking (need to add regular line item in spend plan)
- $245 on vacation planning
See. The details tell the truth. But you know what? It’s ok because I can track every dime, I didn’t incur any debt, and all of it was money well spent - especially the personal pampering. *daydreaming* Woo-wee! If I had to do it all over, I wouldn’t change a thing.
That, to me, is financial freedom! 
Work to achieve, not to acquire.
And always, BE FABULOUS!
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Thank you for sharing your information and good luck to you hitting 200K. I’ll bet you get there in no time!
Just a side note…have you seen those cards for free Iced Coffees at Starbucks on Wednesdays? Maybe that can help your obsession!
Did Becky say FREE ICED COFFEES @ CRACKBUCKS ON WED?? where do I get a card?????
I guess I will do mine on Saturday.. when I have a moment.. I’m afraid to look
I really want to learn how to calculate my networth! I know it will probably hurt my feelings but hey…
“See. The details tell the truth. But you know what? It’s ok because I can track every dime, I didn’t incur any debt, and all of it was money well spent - especially the personal pampering. *daydreaming* Woo-wee! If I had to do it all over, I wouldn’t change a thing.
That, to me, is financial freedom!”
Yup, works for me…good for you. Congrats on exceeding the $150K mark. I am keeping the faith on $200K.
wonderful! i know it must feel great to passed a nice round number like that! now let’s look forward to 250 - a cool quarter mil…
congrats on $150k! Tallying the numbers on the Balance Sheet is fun imo…(except those months where the # is down, like when the market is down). It’s usually one of my favorite times of the month.
I read about the Starbuck’s thing here:
http://sahmmoney.blogspot.com/2008/06/free-iced-coffee-at-starbucks.html
Thanks! Off to find a newspaper just for that one lil card. LOL [-SM]
Congrats on the nice increase. Looks like a lot of pf bloggers are had a good month.
Hey Singlema,
Let me ask you something.. I am continually amazed and inspired by your discipline and always end up asking myself - why cant i be as disciplined as single ma ? Why cant i save the way she has ? why do i take my extra money and blow it rather than saving it.. and i began to wonder ..
Don’t compare yourself to me because I wasn’t always a saver. I’ve evolved over time with life experience. Although what you read/see today appears comfortable NOW, it wasn’t always a pleasant journey. [-SM]
do you think that the discpline it takes to be financially responsible is mostly learned or more so a personality thing ? I think it’s a little bit of both. [-SM] I mean I feel its 50/50 .. I think alot of it can be taught but the will power to stick to it - i think thats something that comes harder for some..what do you think I think you have to figure out what exactly it is that you want and WHY. It may take a little soul searching, but that’s really the core of my discipline - focusing on the end result. Then when I’m tempted to do something that interferes with my goal, I’m faced with a decision: which is more important? is it worth it? Sometimes having fun is more important and worth the sacrifice of delaying my goals, sometimes it isn’t. [-SM] - you seem to be a disciplined person in general - did you teach yourself to be this way ? or does it come naturally ? is it just a matter of willpower and maturity ??
Yes to all of the above.
Some of it is due to life experience and being forced to grow up quickly. If I don’t care for myself, there is no one else I can turn to. I have no other options. In fact, at some point, most of my family will turn to ME.
Some of it is a natural part of my personality. I’m a Capricorn, we tend to be structured and disciplined.
Some of it comes with age and maturity. I wasn’t thinking about an emergency fund and retirement in my 20s, but it’s a top priority to me now in my 30s.[-SM]
Looks like a nice month. You went over your budget but like you said, you can account for the money and you did not incur any debt. Good job on jumping over the 150k mark!
Congrats Single Ma! You are truly an inspiration. You really are, I plan to follow along. Keep up the good work. I’m at the beginning stages of building a solid foundation to be debt free. I’ve been reading your blog for several months now and am finally starting to comment as I just created my own blog. Let me know what you think! Make that money!