October is over and I am not sure where it went. I am looking forward to December when my old job is not requiring any more of my time or effort to finish up a few items that seem to be consuming far more time than I anticipated. I certainly will miss the extra paychecks, but I need a little bit of a break to focus on my new job, and the business I help run with my wife. Since it is getting near the end of the year, we are getting ready to do a lot of planning during our next family meeting to set our 2017 goals.
For the past couple of months I have enjoyed being absolutely debt free once we sold our house in Florida and paid off the mortgage. That however will be coming to an end soon since we just made an offer on a house and should close in late November / early December. We thought we would be able to enjoy renting for a while, but ultimately it didn’t take long for us to miss having our own property (that and our landlord refusing to fix a leak in the roof that keeps spreading and leaking…). Honestly at an interest rate of 3.25% for a 30 year fixed we think this is a good decision for a house in a great location. Time pending I will write up a post giving the details of this transaction…
Here is how we did on our goals we set for 2016 this month:
Currently our Net Worth is $722,366 increasing by $10,107 this month, and up $119,412 for the year. Income was still high this month since I am still; being paid by two jobs through December. I have now maxed out my 403b contributions for the year and I am trying to stuff as much as I can into my new 457b at my new job. For some reason it took a lot of effort to convince them that I want my entire paycheck going into that account after my other pre-tax deductions. Of course I am being sarcastic here because I am well aware I am probably the only one in the entire university who has asked to do this.
Here is how we did on our goals for October 2016:
Our goal is to save $60,000 (or more) this year and we are getting close! We saved $4,571 this month bring our yearly total to $52,772.19. This leaves us $7,227.81 short of our goal, but we will make it. The savings would have been higher this month, but making an offer on a house required money for due diligence and earnest money.
Spending this month was $5,417 this month, but that includes our spending money on our house offer. Honestly without us entering into that transaction our spending would probably have been the lowest it has ever been since we married.
I guess since we are going to be moving again in a month it will give us another chance to really go through our belongings and continue our attempt to downsize all the things we own. More than likely this will be on the unboxing side since we still have a lot of items from our move a few months ago in boxes…
I have made serious progress in downsizing the number of financial accounts we have, cancelling four credit cards, closing two checking accounts, and consolidating retirement accounts from previous jobs (primarily for my wife). I still have a bit of work to do in this area, but have put it on hold until after we close on our new house.
I really like my new job, but I am ready to wrap up everything with the old one so I can claim a little bit of free time / family time that has been missing over the last three months. As I said above I will miss the extra income, but I can only continue putting in this amount of time and effort for a short amount of time. Hopefully leaving the old job behind will allow me to focus back on this blog and add additional resources and posts beyond my monthly status update.
I hope everyone else had a great month!