-Car and renters insurance cost $1,030 causing a reduction in that account (6/1 net worth had the wrong car insurance amount must have been the available balance that I used)
-Spent money on a mini vacation, flight, down payment for our October trip, and several mini trips with ITT. Some of that money came out the kids account because I was socking my overtime in their account for summer activities.
-We maxed out both of our IBOND accounts
Purchased $200 worth of I Bonds in May at 9.62% interest. My plan is to try and by the max amount of $10k per individual by year end especially if the I Bond interest rates are strong come October.
Our net worth today is $515,545.85 and in 2019 we were at $243.792.5. So in 3 years we almost doubled our money!
I have listened to The Millionaire Next Door a few times and this one part really stands out to me because it is exactly what I do. I told my husband the other day that we needed to sit down and write a budget again. I asked him why do we have so much less money now then we use too? He replied because we save more. We save over $5,000 a month. In order to control our spending I have created an artificial economic environment of scarcity for our family. I tell my kids often that we can’t afford it pretty much everyday.
Here’s are March 2022 numbers…
Total saved including $2,800 tax return was $8,207.48.
Happy New Year!!! We finally hit half a million and I feel the exact some way :-). For some reason I guess I thought when we finally hit some magical number I’d feel different but I don’t. Oh well, we are hoping with rising interest rates home prices will fall and when that happens we hope to buy a rental home. Time will tell our predictions haven’t been the best thus far lol.
Here’s a look back at some past January’s.
2022 Goal $600k
They say every 7 years you should be able to double your money. We will see how long it takes us to get to 1 million!
*Correction TSP contributions were increased to $1904.04 this month.
We are so close to hitting half a million! Hopefully we hit the mark by the end of 2021 🙂 I have 5 more paychecks before the end of the year that I am going to throw into investments so we have good odds.
Investments down= a decrease in net worth. Hopefully we can get our savings rate up now that I have a full time job!
In August we relocated to the West coast and were compensated some for it. That compensation we moved to savings. I think we will probably invest it but as always I’m worried the market is at an all time high. I did invest the college 3 fund. It was previously in a 2.5% CD that expired last month so I decide to just throw it into an index fund. I am working on getting my income up and we are going to re-evaluate our budget sometime this month.
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