I keep feeling like I need to apologize for not filling this space as often as I used to. But then I remember you guys are my friends and the whole point of not filling this space as often is because I’m practicing what I’m preaching. I’m following the money while trying not to lose sight of what’s important (like my children, for example). So, here I am with another plan update.
February was crazy busy for all of us. We got the science fair project for Penny started (rock candy with every kind of sugar available currently growing on my counter). We spent many days reshaping our snow pile into sledding tracks, watching the Olympics, taking the kids to swimming, etc. Life is glorious, isn’t it?
Want to know how easy it is for us to write these every month? I literally just log into my Personal Capital and revel in all the numbers being in one place. Do you like checking numbers? Do you like graphics? Do you like playing with calculators like retirement calculators and how much your fees are costing you? Then, you should obviously use my affiliate link to Sign up here to help yours truly speed toward financial independence! (Also feel free to read my more in-depth review of Personal Capital.)
Our mortgage is now at $26,700. We weren’t able to put any extra towards the mortgage this month because we owe just over $1,000 for taxes. Blech.
Investments are now at $186,840. I told you we’d be back below $200,000 this month, but it was fun to hit another nice round number first!
2018 Financial Goals Update:
- KILL THE MORTGAGE – $26,700 to go! If this was the only thing we were doing this year, I would feel super confident, but this big trip AND paying off the mortgage… it feels like a stretch! If we nail both of these goals this year, I will be ECSTATIC!
- 27-Day Europe Trip – -$487.75 – Earned: $10,996.65, Spent: $11,484.40 (with “earned” meaning the money we’ve made from selling shirts on Amazon and “spent” meaning all of the costs for the trip as well as any extra payments toward our mortgage) – We didn’t put any extra toward our mortgage and didn’t pay for any trip costs this month. Sales are low this time of year and next month is going to look worse than this one!
- Max out Mr. T’s 401k – Automatic – however, limits rose to $18,500/year which makes it messy if you get 24 paychecks a year. We’ll probably make a contribution toward the end of the year to top it off.
- Stretch Goal: Put $5500 into My Roth IRA – Not yet.
- Market-Based Goal: $250,000 in investments by the end of 2018 – Not yet.
Notable Expenses This Month: The Story Our Money Tells:
These are expenses that tell an interesting story. A peek into our lives through our pocketbook:
- $24.26 – Batting to finish a quilt I got in the mail from someone who made the top for my wedding 12 years ago and then never got around to finishing the quilt. Now I need to figure out how to finish it! LOL!
- $9.99 – This is a monthly fee, but I’ll only include it once. Mr. T has photoshop on his computer, but I wanted to get more into photoshop myself, so I signed up!
- $8.97 – Carl’s Jr. dinner for my children for Lui’s birthday.
- $15 – The cost to pull the police report to file to insurance to replace our neighborhood mailbox that got plowed over by a car in December.
- $15 – Taking a friend out to peanut butter pie for her birthday.
- $77 – Mr. T and I went out to a semi-fancy restaurant with friends on a double date. It’s fun to do this on occasion.
These are things said by actual people that were either talking to me or near me enough that I could hear them:
- “$7,000 isn’t a lot a lot, but I could have stretched it pretty far.”
- “When you have a mortgage, three car payments, student loan debt, and credit card debt, a $5,000 tax bill is enough to crush you.”
- “I decided I’m going to use my birthday money to buy an ukulele.” – This is Penny. And don’t worry… you’ll probably see an Ukulele in our expenses for next month. (shhh. Don’t tell.)