Friday, April 1, 2016

Monthly Progress: March 2016

The first day of the month is always a big day for me with my personal finance spreadsheets. While I update them nearly everyday there are a few things that I do and track on a monthly basis, so the first day of a new month means that I get to hard code the actuals of the previous month and see how we did.

So, how'd we do in March?

1) Net worth: I am a bit obsessive but I actually track my net worth every morning that I work, just because I love seeing the graph it makes and knowing what's going on, and it only takes me about 10 minutes using Personal Capital if I go slowly and analyze anything. But over the past month our net worth has increased from $148,773.62 to $154,193.04, for a total gain of $5,419.42 for March.

2) Investment income: Another detail that I measure on a monthly basis is how much we've made (or lost) due solely to our investments. This helps me to see what I would have to live off if I didn't work at all and choose to live solely off of investments. On the first of every month I document what all of our investments are worth and back out the beginning value of the previous month and all of the investments that we made during the month.

In March we started with $85,615.82, invested $2,562.50 and ended the month with $92,696.23. Meaning that, in March, we gained $4,517.91 on our investments.So, for this month we would have exceeded our monthly investment gains goal of $2,600.

3) Financial plan savings: I'm not going to go into the details behind the calculations on this one since it's more lengthy but you can read more about it in my post about Our Current Financial Plan. But after all of our income and expenses and planned savings for the month we ended up with an extra $93.34 in our checking account to use for investing in our future. So this time I'll invest just $46.67 worth of the mutual fund VHCOX from Vanguard. And this morning I called up my bank and scheduled a payment for an additional $46.67 to go to the principle on our mortgage.
So after our regular mortgage payment that automatically pays on the 1st of each month and this extra payment our mortgage dropped down to $117,154.38 today. Which means that, as of today, I actually own 32.67% (roughly 614 sq ft) of our home.


So, by and large our March turned out great, especially considering that I had to write a check for $2,299 this month to climb Kilimanjaro. We had some other additional expenses than I would have liked to have avoided but it was on worthwhile purchases. The market came back from the drop we say at the beginning of the year, it seems to always do that. And here's to having a great April ahead of us, especially since I'll have 3 paychecks and $2,623.34 from our tax return coming in this month.