Another ho-hum month where there isn’t any drastic movements in any of the balances, just a good slow progress towards my goals…
For background on the methodology and definitions, see Net Worth: September 2013 Progress. I’m including the past two months for comparisons now, but the “difference” values are computed for the past month’s changes.
|Category||October 2014||November 2014||December 2014||Difference|
This is a pretty unremarkable month overall with not much of a change from last month’s progress and report. Credit card balances are still relatively high, due to the Christmas and birthday shopping we’ve been doing since November. That’s reflected in our dwindling cash reserves here mostly. The expectation is that once we’ve gotten through January and pay off that statement mid-February spending should come down a little bit. I’m also counting on a lump-sum vacation payout mid-February to help shore up the cash a little bit.
For 2015 I’m trying to automate not only my bills and 401k contributions, but the IRA contributions for my wife and I as well. As a result I’m dropping the extra principal payments on the townhouse rental that I’d been making all of last year to make sure we don’t hit a cash crunch. Then once I have a better handle of how our cash flow is going I may slowly start re-introducing the principal payments.
The only other item to keep track of is maxing my 2014 IRA contributions. I made $3,000 in contributions to it before the year end, but I’d still like to sneak in the last $2,500 before the deadline April 15th. I’ll have to scrounge up cash from our accounts and any extra cash from paychecks that isn’t eaten up by all the bill payments and savings. I may be able to get a good chunk of that done by reimbursements from my company for a business trip. Since we pay for airfare, hotels, car rentals, etc out of our own pocket and get reimbursed after filing an expense report, I’ve already had to account for some of the costs in bills I’ve already paid so I can sort of treat the reimbursement more like a “bonus” in terms of just using the cash as a lump sum to save/invest.