Miss Thrifty's May 2016 Net Worth
Another month has passed... that means it's net worth update time!
Earlier this week, I shared with you the progress of my net worth over the last four years. Little did I know that by signing up for Mint back in 2012, my life would be forever changed as I have become increasingly aware and motivated to get my finances in order.
A few changes from last month. I've removed the line for a loan to a friend as I've been paid back in full.
You may also notice that I now have three credit cards. Is that number sounding alarm bells for you? I don't plan on getting any more, I promise. This latest card is a Chase Sapphire Preferred, a card recommended by travel hackers for the sign-up bonus. Full disclosure: I have never paid a single cent of interest, never had a missed or late payment on any of my cards and pay my balance in full, usually weekly.
I'm chopping down my student loans (down from $29,400! read about the three strategies I'm using). I have the cash to pay the last loan (originally, there were eight separate loans). However, because I received my last paycheck on May 31, I'm not quite ready to pull the trigger on my last student loan until I know that I can do so without dipping into savings that I may need for a (hopefully) brief period of unemployment.
Last month I challenged myself to spend less than $1,000 in May.
Did I succeed?
I spent $963 on everyday expenses:
- gas ($19... still have a half-tank left to use in June!)
- auto insurance ($55... I pay my 6-month premium in a lump sum)
- cell phone payment plan ($36... I'm still mad about this one!)
- my portion of a family phone plan ($35)
- fast food ($79... oops!)
- restaurants ($49)
- groceries ($162 and some money back from grocery apps)
- electricity/water/internet ($88)
- rent ($350)
- recreation ($55)
- clothing ($35... I really needed new pants)
That means I spent just 38% of my paycheck!
The rest went to savings ($700), roth IRA ($100) and student loans ($795).
I got a little boost this month from a couple modest side hustles: I made $115 by raiding my closet and selling clothing on Poshmark and $54 for a few hours of work transcribing audio (more on that later).
Since the end of January, my net worth is up 52% and Mr. Spendy's is up 47%!
Check out a ton of other personal finance bloggers who track their assets and liabilities over at Rockstar Finance!