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.
Starting Debt (6/08)
|Last Month||This Month||DIFFERENCE|
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.
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.
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 MONTH||THIS MONTH||DIFFERENCE|
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.