February 2015 Net Worth

This month was once again fairly typical. This is only my second Net Worth post, but I’m considering reducing the amount of information in this. Does it really help to show you my Necessary and Discretionary Expenses? I like to see where my money is going, but I could potentially reduce this to a Total Expense summary much like is done over at budgetsaresexy.com

February 2015 Net Worth

Notable Net Worth changes this month:

My Mortgage cost was $0.00 – say what?! No, I didn’t get a month mortgage free, I was actually late on the payment (but within the grace window!) so it will show up on next month’s summary. This was completely by fluke, I had yet to set up automatic payments so it really just slipped my mind. 

My Income will start to have some variation from now on. The 32% drop from January’s salary can be attributed to overtime. I’m not actually paid 1.5 times my salary for overtime – it’s just straight time. But 1 time is better than 0 times!. 

I also began contributing to my 401k at work. This was only 10% in order to get the full company match. I’ll eventually bump this up to maximize my tax deductions. But to what? Forbes suggests a formula – but this is to ‘typical’. Only 1x my salary by age 35 isn’t anywhere near the $1 million I’m aiming for. Unless I get a sudden raise 🙂

The supplemental income this month was from rent. A good friend moved in towards the end of January and we agreed on $450/month in rent. This amount includes utilities, so he’s getting a sweet deal – and I’m getting a reliable roommate – win/win! If any of you have the option to rent out a room, I highly recommend it. Sure your privacy is nice, but is it worth several hundred dollars a month? I think not – and neither does Paula!

My after tax savings actually dropped a bit this month. Which is understandable seeing my expenses went up and my income went down. While a 35% savings rate is still commendable, I’m looking to bump this up in the future. 

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