Wednesday, April 24, 2019

Savings Rate

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

Net Worth Update

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

$304,669-per zillow

              Total (not including home): $68,432
              Total (including home): $373,101

Mortgage $195,623
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.