Saturday, April 3, 2010

March 2010 Progress Report

My financial life and my personal life were previously in sync. When my financial life was in the dumps, so was my personal life. When my finances improved, so did my spirits.

But there's been a "decoupling" of the two since my father's car crash in February. My net worth rocketed upwards while my emotions have taken a free-fall.

Now that my finances are under control (or, at the very least not as dire as it used to be), I guess I'm experiencing the diminishing return on happiness for every dollar increase in my net worth. I hate thinking that way since it makes me very unappreciative and whiny.

Therefore, I want to take this opportunity to acknowledge that I am a VERY lucky woman. I earn a damn good salary with damn good benefits. I got a windfall in December, while many people were unemployed or experiencing cut backs. I also got a bonus in March that was completely unearned and undeserved. I need to improve my attitude in my professional as well as my personal life. At the end of the day, I want to say I earned my good fortune and deserve a good life.

To those who are curious, below is my recent embarrassment of riches.

MY DEBT


Starting Debt (6/08)

Last MonthThis MonthDIFFERENCE
Private SL$49,528.99$40,481.01$39,111.05$(1,368.96)
Fed'l SL$55,852.68$53,321.08$53,170.49$(150.59)
Car Loan
$9,779.33$0.00$0.00$(0.00)
CC
$13,610.75$0.00$0.00$(0.00)
TOTAL
$128,771.75$93,801.09$92,281.54$(1,519.55)


I've been up and running on my snowball since January. After interest, I've been paying down my debts by over $1,470+/month, or 1.5%+. Woo hoo.


SAVINGS

LAST MONTH

THIS MONTH

DIFFERENCE
$8,779.98$8,883.55+$103.57

The savings I report here is with respect to my emergency fund savings only. I have an additional $18,036.59 in an unreported "earmark" fund for expenses, such as tax, car maintenance, IRA, etc. etc. I don't report my earmark funds here, or in my net worth, since it's money I intend to spend eventually.


MY "X"-FUND

LAST MONTH

THIS MONTH

DIFFERENCE
$20,212.37$24,272.43+$4,060.06

In addition to my savings and earmark fund, I've created an "X"-Fund, which is reported in my net worth as "other property." I came across a significant windfall (~ $33K) in December. In January, I allocated $20,175 of my windfall into what I call my "X-Fund," since I don't know yet whether I'll need to use it as an emergency fund or a down-payment for my first home. Either way, it's money that I don't intend to touch unless I absolutely need to or unless I reinvest it.

In March, my company also paid me a bonus (net ~$9,711.61), which admittedly was not deserved. I put $4,000 of my bonus money into my X-fund, hence the big jump this month. I don't expect any future big jumps.


MY NET WORTH



LAST MONTHTHIS MONTHDIFFERENCE
$82,329.51$98,184.22+$15,854.71


The increase of my net worth has been on an incredible trajectory. And it's so ironic that my emotional state has been on a recent downward spiral.

The breakdown and the history of my net worth can be seen here.

2 comments:

paranoidasteroid said...

I'm sorry to hear that things haven't gotten any better with your parents. Still, I think you should celebrate your PF accomplishments - there are plenty of people earning great salaries who are still drowning.

Hope things get better! *hugs*

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