Wednesday, April 24, 2019
Boy, I have I been busy lately! I have been neglecting this poor little blog. I hope to have a chance to catch up with my blog reading this weekend. Frankly, I am considering calling in sick tomorrow. I have 2 meetings and 2 conference calls on Friday. So if I don't want to go into work, tomorrow is my only day.
Anyways, on to the point of this post!
I calculated my anticipated savings rate today, it is about 22% of my net pay. I've read a lot of FIRE blogs and most indicate that savings rate is the most significant factor in reaching financial Independence. Based on my anticipated savings rate, I want to try and increase it to 25% by the end of the year. I need to develop a new method to track my savings. This will be a hard goal to balance with my goal to pay down my mortgage.
My job is crazy (it'll have to be a whole separate post) and stress ridden. I really need to see the needle start to move towards financial independence in order to continue to work there. I hope increasing my savings rate gives me the emotional and mental boost that I need.
Wednesday, April 3, 2019
Here's where the numbers stand.
$12,916 Emergency Fund
$12,552 Online Savings Account/$7,552 of that amount is for my Car Replacement Fund/$5k is for my EF
$3,160 Online Savings Account #2- all car replacement
$29,255 Retirement- Roth IRA
$7,617Taxable Brokerage (Retirement)
$803 Travel Fund (Work)
$850 pet fund
$5 medical fund
$1,274 furniture fund
$0 Slush fund
Total (not including home): $68,432
Total (including home): $373,101
Furniture (0% financing) $850
Total (not including mortgage): -$850
Total (including mortgage): -$196,473
Total Net Worth(not including mortgage): $67,582
Total Net Worth(including mortgage): $176,628
Net worth, not including mortgage, increased by $7070 from January (last net worth update)
Net worth, including mortgage, increased by $9,367 from January(last net worth update)
The value of the my home has decreased a little bit.
My mortgage is getting so small. I was putting an extra $450 toward principal. That dropped to $439 when the escrow adjusted. I am still hopefully to have the pmi drop off by with my end of June payment.