Inside: Our finances will be taking a BIG hit soon thanks to a certain expensive husband. But, at least he’s still worth it (as long as he keeps bringing me beer!). Here’s how we’re planning to handle these big expenses.
Hello and welcome back to our second-ever financial progress report!
This month we had some big changes. I had high hopes to pay off a bunch of debt with extra money I’d saved up for taxes with my business. I ended up way oversaving for taxes, and I got to pay myself out a $6,000 bonus. It’s the first time I’ve ever gotten an end-of-year bonus, and it only took me not working for anyone else to get it!
But, then life changed my plans. Just goes to show that every time you think you might have a great idea, like paying off debt with a big paycheck, you can sometimes just toss those thoughts right in your bullet blender and push pulse.
The thing that shook everything up was that Zach decided to go to coding school in Washington, where we’re getting ready to move soon. It’s a great coding school, but holy wah is it expensive—about $15,000 for three months, to be exact. I can buy a ton of tacos with that kind of cash.
So, instead of throwing a massive pile o’ cash at our debt, we’re instead saving it up so we don’t have to take out even more debt. And that’s still a worthy goal, if you ask me. Even if it means we have to live with this stinkin’ debt just a bit longer.
So, without further ado, let’s see how these changes affected our monies this month!
Sadly, we didn’t get to make the big leap forward we thought we would since we’re using our extra-tax money for Zach’s coding school. But, even with just the minimum payments, we inched closer to being debt-free. We paid off about $797’ worth of debt since last month with our minimum payments, which is a cause for celebration that even Ebenezer Scrooge or Jared Kushner can get behind.
I really like this dashboard from the free program Undebt.it. It shows everything perfectly clearly. Although we still owe a metric shit ton of interest each month, we did see it tick down a bit since last month, when we owed $306.27 in interest.
I forgot to list our health fund last month, but we have $1,434 split up between an old HSA and our current bank account. But, it doesn’t really matter, because GUESS WHO NEVER GOES TO THE DENTIST AND NOW NEEDS A ROOT CANAL, ZACH!
Yep, you heard that right. Zach—after much prodding and poking to get more prodding and poking—finally went to the dentist, who I’m sure nearly fainted when he opened the pit of evil that is his mouth. He had a root canal the following week, and will be getting a crown put on soon.
The total bill? Right around $2,500, which will wipe out our health savings and then some. Luckily, I should be able to cover the difference with some extra freelance work I picked up last month.
Here’s the status of the rest of our savings accounts:
- Zach’s retirement – $62,376.10
- Lindsay’s retirement – $11,286.62
- Fuck Renting Fund – $3,373.50
- Oh Shit Fund – $8,000
- Lindsay’s badass next car – $2,800
- GTFOCO fund – $2,860
- Truck repairs – $1,419.76
- Birthdays – $311.42
- Pets – $57.30
- Christmas – $214.70
- Travel – $100
In other news, we DID have a great success this month (lest unscrupulous politicians spoil all the fun). We were actually able to top off our Oh Shit Fund (i.e., our emergency fund) to our target goal of $8,000.
This gives us a two-month buffer if shit hits the fan, not counting the fact that we start every month with all the cash we’ll need to spend and save that month.
Our M1 Finance investing experiment with our home down payment is chugging along. Again, thanks to certain unscrupulous politicians, the stock market is still down by a percentage lower than the village idiot’s IQ. But still, we chug along!
Net Worth: $38,849
Our net worth is up by $12,085 from last month—w00t!
You can see on the chart above that our net worth burped a few times while we were moving money around. This is because I’m the proud new owner of a Vanguard account! I love my little baby like the little scallywag it’s going to grow up to be. Plus, I can probably count on it more than an actual kid to take care of me when I’m too old to wipe my bum myself.
I’m gonna hire me a hot Ryan Gosling male-nurse lookalike to do that. Zach won’t mind. He’ll be senile by then.
If you want to track your net worth like this too, check out another awesome free tool—Personal Capital.
Sadly, I don’t think our net worth will be going up quite so much next month, once we clear out our life’s health savings and make our first payment towards Zach’s coding school. Husbands be expensive, I tell you. But he’s worth it. As long as he keeps bringing me beer with dinner each night. 🙂 (jk i love you zach. but seriously—beer, chop chop.)
Do you have any questions about our financial strategy? Leave a comment below!