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Miss Thrifty's May 2016 Net Worth

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.

Drumroll, please...

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!

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