August 2008 in Review
August was another bad month as far as finances went. Our assets went down while we shifted our priorities around, opting to pay off debt instead of building our cash supply. The good news is that by the first week or so of September, we will have paid off both of our cars. That is going to free up a combined $500 each and every month.
That comes not a moment too soon as I will be needing new tires before the winter. That is going to be somewhere between $400 and $500. It is a good feeling to not have to also make a car payment as well.
Final numbers show that our debt pay down more than made up for the drop in assets giving us a networth increase of $2,333.15. Not bad for a bad month. Kinda makes us both wonder what we can do when we behave…
Assets: $63,125.31
- My Checking, $537.83
- Her Checking, $382.45
- Her Savings, $7,528.58
- Emergency Fund, $1,131.35
- House Down-payment Fund, $5,060.27
- Corvette Fund, $2.18
- My 401K, $11,482.71
- Her 401K, $15,785.55
- Roth Startup Savings, $151.79
- My Taxable Stock Account, $2,924.17
- Her Taxable Stock Account, $1,490.88
- Prosper Loans, $414.05
- Family Loans, $1,780.00
- My Toyota Corolla, $8,000.00 (kbb.com value)
- Her Toyota Corolla, $5,000.00 (kbb.com value)
- Apartment Security Deposit, $1,453.50
Liabilities: $31,138.66
- My Student Loans, $18,654.89 (6.00%)
- Her Car Loan, $583.22 (6.99%)
- Her Student Loans, $11,900.55 (3.00%)
As far as spending went, this is the worst month of the year. There were several compounding factors which can ineloquently be summed up with the following phrase; I ended up having a good time.
We went to a wedding, I made a trip home to visit the parents, and I got to go on a trip that I had been dreaming about for years.
Going over budget on spending is not a horrible curse. I have the benefit of disposable income and going over just means that I can’t save as much as I would like. Our net worth results reflect this. September should see things quiet down I hope. I need to get things under control and make those numbers. There should be no excuses from here on out.
Spending Budget: $1,100.00
Spending Actual: $1,688.71
- Petty Cash: ($20.00) $64.00
- Gas: ($225.00) $213.81
- Eating Out: ($120.00) $306.88
- Entertainment: ($50.00) $0.00
- Hobbies: ($500.00) $655.16
- Fitness: ($20.00) $150.98
- Other: ($40.00) $262.88
(Budgeted) Actual