I have decided to share our current state of finances to give myself and everyone a framework of our financial situation. It took me a while to decide whether I would share actual numbers on my blog. I decided to track my personal finance history and share numbers to keep us on track on our financial and personal journey. Our financial situation has been fluctuating significantly this past year, but I hope for positive growth this year.
I, also, must confess we have not been tracking our expenses. I signed up for mint, but I not started to use it effectively. This is something I need to work on now that I do not have school anymore. I feel like if I kept track of my finances, I would not have spent so much during college. I actually had quicken since high school, but sometime during freshman year of college, I decided to stop tracking my finances. I think I did not want to look at how much I was spending on fast food or clothes. If I could go back, I would change that!
As you may also know, I finished my undergraduate and graduate degree with no debt. I had scholarships that paid 85% of my way, and my parents paid for 15%. My husband also finished his bachelor’s with no debt. His parents paid for his tuition, and my husband paid for his living expenses.
So, here it is. It’s very short and simple.
- $19,720 in savings
- $440 in checking account
- $400 for a freelance job ( I should be getting this money soon and it will go straight to savings)
I’m not sure how much my husband’s car is worth, so I will not include it in our net worth.
Our net worth looks pretty good, especially for our life stage, but it’s actually a little inflated because the savings we have are actually for my car and braces.
Once we start working we will start contributing to our 401K and ROTH IRAs. I want to max out both our ROTH IRAs this year. (More on that later). I, also, want to start making some additional side income apart from salary.
Any thoughts or comments? How are you doing?