As November comes to an end so does our brief time of being debt free. In just a few days we will close on a house and again have a mortgage payment. At 3.25% I certainly can’t complain about the interest rate on the debt, and the truth is for us we are ready to own a home again. I know for many on the path to financial independence owning versus renting always seems to be up for debate, but for us it is our preference and makes sense in how we are defining our path to FI.
I am now counting down to only two weeks left on what has turned into my second full-time job. I have enjoyed five months of essentially doubling my salary, but I am exhausted and have come pretty close to reaching my breaking point. In the long run it has helped me meeting some of my FI project goals, but it has taken a significant toll on my well-being (sleep, health,etc.). Starting in January I will be down to only one full time job, and one side business I run with my wife. I also hope to have more time to write for fun (blogging).
Here is how we did on our goals we set for 2016 for November:
Currently our Net Worth is $730,956 increasing by $8,590 this month, and up $128,002 for the year. That is a pretty impressive number considering less than half of that is coming from saving. Income is still double my normal amount thanks to the two full-time jobs. All of my current pre-tax savings are going into my 457b since my 403b is already maxed for the year.
Here is how we did on our goals for November 2016:
Our goal is to save $60,000 (or more) this year and we are getting close! We saved $2,454 this month bring our yearly total to $55,226.19. I actually saved less this month holding some money back for closing on our house and expenses related to that transaction. Once we close I should be able to make up this amount in the final month of the year to reach our goal.
Spending this month was $4,621 this month, which is below our target of $5,000 a month. Honestly until I started writing this post I had no idea how much money we were spending since I have had so little time to obsessive keep track of every transaction like usual. What is good about this is we have started to build behaviors that keep our spending in check even when we are not actively tracking every purchase and following a budget.
We are moving again, less than six months from our previous move. I hope that by going through one more sorting we will have completed this goal for the year.
Did I mention I will finally be down to only one full-time job in a few weeks!!! Will miss the money, but I miss sleep and enjoying life even more.
I hope everyone else had a great month! Only one more month in 2016!