Last Day Net Worth: April

By tracking my net worth on the last day of the month, I hope to keep the numbers more consistent based on the usual fluctuations of paying bills and stuff like that. Without further ado... APRIL!

ASSETS:
Cash (checking, MMA, W2S): $40,108.19
GNMA: $11,040.60
Total Bond Index: $11,242.25
Total Stock Index: $23,419.36
Total Liquid: $85,810.40
Percent Change: 1.84%

Roth IRA (Target Retirement 2045) $5,752.86
403(b) (S&P 500 Index) $14,747.88
Total Retirement: $20,500.74
Percent Change: 4.56%

DEBT
none

Total Net worth: $106,311.14
Percent Change: 2.35%

After breaking 100K last month, it didn't seem quite as exciting to calculate my net worth this month. I mean, I'm not complaining that it is increasing! There's just nothing really that I'm working towards now. So I ask my wonderful readers... what should I be working towards? Or, rather, if you were in my position what would you be working towards?

A down payment for a house (how much)? Hitting 200K? Hitting a certain mark with my retirement investments? Diversifying my investments more?

Discuss.


Today I'm grateful for: slumber party weekend!

Scared for the future...

... and not in the ways that I've been expressing lately here. See, I was away from Thursday-Sunday for work and stayed at a hotel. On Friday morning there was a complimentary USA Today at my door with this horrifying article on the front page.

Here are the horrifying statistics about Gen Y/Millennials and their finances:

•About 37% of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than three decades, according to a Pew Research Center study released in February.

•This generation is the least likely of any to be covered by health insurance. Just 61% say they were covered by some form of a health plan, the Pew study said.

•Only 58% pay monthly bills on time, a National Foundation for Credit Counseling (NFCC) 2010 survey said.

•60% of workers 20 to 29 years old cashed out their 401(k) retirement plans — typically a big financial no-no because such a move squanders retirement assets and forces the recipient to pay a tax penalty — when they changed or lost jobs, an October study by Hewitt Associates said.

•Nearly 70% of Gen Y members are not building up a cash cushion, and 43% are amassing too much credit card debt, says a November MetLife poll.

On average, Gen Yers each have more than three credit cards, and 20% carry a balance of more than $10,000, according to Fidelity Investments.

•Millennials are graduating from college with an average of $23,200 in student debt, according to the most recent data from the Project on Student Debt. That is a 24% increase from 2004.

"They have high, unrealistic expectations," says Lee Jenkins, author of Lee Jenkins on Money and a managing partner of Atlanta Capital Group in Atlanta.

"And many of them don't manage money very well."

The sky is falling! They sky is falling! And we're all going to die with no savings and mountains of debt.


Today I'm grateful for: the fact that this article does not describe my fate... or the fate of most of my blogger friends/readers.

March Spending

March spending (reminder for the lateness of this post: I double check my spending spreadsheet when I get my credit card bills which come in the middle of the next month).

MARCH SNAPSHOT
Total Income: $3,103.78
Total Expenses: $2,104.46
NET (Income - Expenses): $999.32

INCOME
Wages: $2,550.46
Rebates/Sold items/Blog: $452.00 (tax refund from federal government)
Babysitting/Catering/RS: $101.32 (catering)
Monthly Total: $3,103.78

HOME EXPENSES
Rent: $875.00
Electricity: $23.95
Cell: $78.53
Cable/Internet: $92.35

TRANSPORTATION
Gas: $35.46
Bus/Taxi/Metro/Toll Fare: $2.00

DAILY LIVING
Grocery Store: $79.76
Drug Store: $47.05
Dining/Eating Out $110.55
Clothing: $226.58 (stuff from this post and I think some clothing items from Target)

HEALTH MAR
Rx/OTC: $15.00
Gym/Exercise Class: $102.00 (Yoga through Arlington County for the Spring)

ENTERTAINMENT
Newspaper: $15.57 (paid about every 3-4 months)
Netflix: $9.44
Movies/Music: $2.10 (I didn't get my Redbox movies back in time)
Concerts/Shows/Covers: $34.00 (went to a Caps game)
Gifts/Donations: $37.23 (one of my co-workers has a new baby!)
Books/Magazines/Electronics: $49.99 (Norton renewal)


MISCELLANEOUS
Cash: $100.00
Taxes: $167.90 (taxed owed to Virginia)

Total Spent $2,104.46
Total Saved $999.32


It's been on the to do list all month to get my bills to come earlier in the month (that way maybe I could get up last month's spending before the following month is over)... I haven't gotten around to calling yet. I will!

People keep wondering why my spending on food is so cheap and here's why this month: I spent a weekend away where all of the food was included, I had 2 Passover Seders at other people's homes, I had 5 meals covered by work (either due to catering an event or special stuff at my other job), I ate out with friends a bunch (which equals leftovers for lunch), and I was lazy about grocery shopping because I knew I was going away for the weekend and I went away the first weekend in April.

Today I'm grateful for: the heartfelt thank yous I received this past weekend.

Monday Morning Inspiration: Simple Livin'

This Monday morning we'll get our inspiration from Simple of Simple Livin'.

I love this photo right now. Not only does it totally capture Spring, but it also shows how looks can be deceiving. The red tulip is actually smaller than the white ones, but you can't tell. Just like you can't tell how much people make or are worth by looking at how they live.

What inspired you to start your blog?
A few months after we got married hubby quit his job, so we were forced to live off my income. In the process of searching the web for resources on how to cut back and set up a budget, I stumbled across a few blogs, and found it encouraging to read about other people who weren't caught up in society's, "more is better" attitude. I loved reading about people who are standing up against the norm. Whether it was because they were trying to pay off their debts, or they just wanted to live a simpler, less cluttered lifestyle. After a few months of lurking, I decided if I wanted to post comments I needed my own blog. The name of my blog comes from a saying my mom always said when I was little, "Live simple so others can simply live." I love the idea behind it. Some people are out there struggling to survive, no idea where they are going to sleep or where their next meal is coming from. We don't need to spend everything (or in some cases more) we make, we can live simpler lives and give to others. We can cut back on unnecessary items in order to buy local or handmade items which may be a bit more expensive, but you are helping someone else earn their living.
I love the support in blogging and knowing that others are holding you accountable and going through similar things. I started about a year and a half ago and with the encouragement of others was able to stay focused and pay off almost $40k in debt!

What inspires you on your financial journey?
Ultimately, the end goal. Whether it was focusing on getting our student debt paid off, or saving for a house/car etc., or essentially, retirement.
I've learned that it is extremely important to have mini goals along the way to stay on track.

What is something you are working towards?
We are currently working towards buying a house and saving for a new (to us) car.

Name one ... that inspires you:
Blog: Small Notebook. They are a family of 4 who are renting a 2 bedroom apartment. They may not have a lot of it, but they make the most of the space they do have. Rachel has a less is more attitude, and I love her organization skills.
Book: The Bible. You can find anything in there for no matter where you are in life. Like for debt, the second half of Proverbs 22:7 says "the borrower is servant to the lender." No one wants to be someones servant, but if you owe someone, whether it be a person or a credit card company, they own you. Pretty good reason
Song: I don't really have any one song that inspires me. Sometimes I hear a song that's perfect for that moment in time, but at the moment I don't really have one. The song that's on repeat in my head right now is Carolina Liar, "Show Me What I'm Looking For".
Place: The beach. I love everything about, especially early in the morning when no one else is around. It's just amazes me how small we really are in all of this.
Person: My old youth leader. Life dealt her blow after blow, including losing her husband and leaving her a single mom of 3 young boys in a town where she knew no one. I've never known anyone as strong or as loved as her. I wish she was still around today so I could seek her advise now that I'm an adult.
Movie: I can't really think of one at the moment.

What are you grateful for today?
Today I am grateful Spring! I'm loving the bright colors of the flowers and tree, the new life, and the warm, sunny weather.




Today I'm grateful for: Simple's inspiration

What if I...

Do you ever find yourself mentally trying on people's lives like a dress in a fitting room? Or maybe it's not other people's lives... it's just dreams that you know you probably won't fulfill?

Like why don't I turn into a yoga hippie? I could teach yoga and work at Lululemon and... Or why don't I sell all of my belongings and travel around Europe. I could stay in hostels and go where ever the wind takes me... Or what if I was the consummate urbanite? I'd move into the city (never mind which one), have a chic loft and be uber-modern... Or what if I moved to the ocean? I could walk barefoot on the beach and be tan all year... Or many I could be a quirky hipster? I'd mix eclectic looks, know all the hip, underground bands... Or what if it was me planning my wedding, settling down, having babies? Or I could be that athletic girl ? I'd run marathons in her free time, know everything about nutrition and cooking and be ripped... What if I bought that condo? I'd get to decorate, have dinner parties...

It's fun to dream, but at the end of the day, I'm still sitting here not knowing which of these version of me are going to stick. And if I had pursued any of these versions of me, would've I have ended up in the same place I am now?

This is a quarterlife crisis, right? Tell me I'm not the only one who has these thoughts...

Today I'm grateful for: my brita filter

Monday Morning Inspiration: Fabulously Broke in the City

I've decided to start a new feature here on the blog (which I alluded to here). It's called Monday Morning Inspiration and I'm going to ask questions of bloggers who inspire me. This is kind of an extension of my "Today I'm grateful for..." and my increasing yoga practice. I'm on a search to find new inspiration for my life and for my blog and I thought interviewing bloggers who I admire might help.

This Monday morning, we'll get our inspiration from FB of Fabulously Broke in the City, one of the very first female PF bloggers I started to read. She starts us off with a picture that she finds inspirational.

I know it's weird. It's not like an island, or a mountain or something beautiful. But when I see this picture, I just get the warm fuzzies, the feeling of love and the idea that humans sometimes complicate their own lives with money and social worries, and strange problems that don't affect other animals, but animals live the way they want to live. So I want to live like an animal -- simply, happily and naturally.

What inspired you to start your blog?
I started as a way to do social commentary on women and finances with a Sex & the City twist. But it turned into a blog about my personal journey to get out of $60,000 of debt. It was a way to make myself accountable, to receive much needed support to get through it, and to feel pleasure in my success in doing so. It was really more of a lifestyle blog, but since I was obsessed about my debt, it turned into a money blog.

What inspires you on your financial journey?
Strangely (or not), the idea of freedom and the principles of minimalism. Right now, I'm not really motivated by money as much as I was before. When I was in debt, money was all I could think about. I felt like I was being trapped by my debt, and money was all I could think, eat, breathe or talk about. As I cleared off my debt, and started selling half of my wardrobe and all my things.. I realized that my stuff was choking my life as well. That's when I started to explore the idea of minimalism coupled with freedom.. and gradually, they became the cornerstones of my current lifestyle. From there, all of my decisions about money fall into place. Instead of making decisions based on how much I earn each month, where I want to budget it... my whole money philosophy has become a lot more lax. I now make decisions based on how I want to live my life -- being utterly and totally free. Freedom to me is being able to do what I want, how I want to do it, and when I want to.

I don't want to:
- ever be in debt again (even for a house)
- ever be a slave to a job just because I need the money
- ever feel like I can't make it to next month, or even to next year

What is something you are working towards?
Semi-retirement until I am 60, and then a full retirement. See, I am kicking around the idea of working half the year and taking the other half off to live my life in the present moment when I am healthy and young, rather than saving a huge bundle of money for the years when I may be too sick or too old to travel. I don't spend a lot of money, but I do make a good average salary on contracts that give me a lot of great downtime in between. This combination gives me the opportunity to explore the idea of retirement being all about balancing time with my life span, rather than basing it all on having all of my savings in my hands at the end of my life.

Name one ... that inspires you:
Book: The Millionaire Next Door. That book really sparked something in me in the early days, and it changed my whole perspective on how I look at money.
Song: I have a short attention span when it comes to songs, but right now, it'd have to be "Minnutes - More to Luv". It's light hearted and it makes me smile each time I sing along to it.
Place: New York City. I think it's amazing how many dreams can and have come true in such a short period of time in the history of the United States, in one area.
Blog: A Singapore Taxi Driver's Diary He writes with such a simple, honest, elegant choice of words, that you cannot help but read any one of his posts and feel inspired to do something different in your life. His writing changes me for the better, each time I read it.
Person: I can't pick a single person. I want to say someone "acceptable" like Eleanor Roosevelt, but I also think Lady Gaga is inspirational, if you've ever read any of her interviews about how she was told over and over again she'd amount to nothing. And now, she's everywhere.

What are you grateful for today?
I am grateful for the breaks in between my contracts, even if some of them are long. It really doesn't matter how much money you can make in a day, if your body, mind and soul can't rest once in a while.


Today I'm grateful for: FB's inspiration

10 Random April Updates

So far in April I...

(1) Finally got a black purse! And it's only been on my to do list since January... Tada!
It was $65 down from $140 at a boutique on U Street. I think I got a pretty good deal!
(2) Have a second date tonight. I'm kind of excited. He's supercute and supersweet... even though he is quite a bit younger than me.
(3) Babysat for my favorite little munchkin and made $65. Bonus: I got to go to the park AND play pretend. Win!
(4) Picked up a check from the consignment store and I made $38.50.
(5) Had my first yoga class at a new studio. Signed up for 12 classes for $165. Expensive, but worth it to me.
(6) Cleaned out my bathroom products and stockpile. Donated a whole bunch of (unused) items.
(7) Am working on a new project for the blog... contacted a few of my favorite bloggers for their help. I'm being a little mysterious, but you will all find out more on Monday...
(8) Learned that there is a fun, big project that I will be taking on next year at work.
(9) Paid my renter's insurance for the year. $125 poorer, but I'm covered in case of emergency. Worth it!
(10) Visited the library twice and have read 3.5 books (I'm almost finished with one!). I love reading outside in the spring!

Today I'm grateful for: side pony tails.

Frugal Competition

I just read a post over on Life as a Purse (a blog that I really enjoy, so I'm sorry if I'm overly harsh with this criticism!), which confused me a little bit. She is trying to spend only $130 on everything (which she says includes: gas, groceries, miscellaneous/blow and a doctor co-pay) until April 22. It sounds like it is just an experiment to see if she can do it. And my response was "why?"

It seems a little bit like a competition to me. A challenge. Throwing down the gauntlet. Or something.

So I wonder: who are we competing against? Ourselves? Other bloggers? Our non-blogger friends who suck with money?

I understand subsisting on only $130 if you live paycheck to paycheck and that's all that's left. But what if that isn't the case? What if it is just a challenge? an experiment? When does it turn into a "holier than thou" attitude? An "I can out-frugal you" situation? And why do we feel like we need to compete?

Life as a Purse, I think this will inspire some good debate, so please forgive me for my harsh questions!


Things that make me laugh a little: I always wind up dating boys with the same name... anyone else have that "problem" (I think it's a good thing actually :) )?

April Goals

It's been awhile since I shared goals here and it's a little into April, but I'm going to do it anyway!


Life
(1) Have a few DC adventures
(2) Yoga 3x week
(3) Figure out when to do my community service yoga teaching
(4) Talk on the phone a little more (to not my parents or sister!)
(5) Go on a date (and possibly make out)
(6) Do a thorough cleaning/purging of my apartment
(7) Find new inspiration

Blog
(1) Buy my domain name
(2) Start the process of switching to wordpress
(3) Start the process of a complete blog redesign
(4) Attract a new advertiser
(5) Reach out to other bloggers


Today I'm grateful for: moments of awkwardness that are actually kind of cute

Reader Question: Conscious Spending

Reader Keith Morris asks:

How can you be so conscious of your spending with such a comfortable net worth? I start to feel relaxed when I have just a few thousand in the bank. I think, "well, I'm not hurting this month, so it won't kill me to spend a couple hundred dollars on X new gadget." It's no wonder my net worth is through the floor, but how do you overcome that?

Great question! The short answer is just comes down to discipline. I'm pretty type-A and not so spontaneous which helps in mindful spending.

The long answer is that I think it is all about our orientations towards money. And it's our parents' fault! We internalize our feelings and experiences with money from our childhoods which affects later behaviors. My parents always emphasized saving and I think that's why I got into "good" saving habits. I put "good" into quotes because of the guilt factor. My mother has issues spending money on herself and to some degree that impacts my spending habits.

Here are some things that have helped me:
(1) Keeping track of all of the money I spend/save on my budgeting spreadsheet.
I'm happy to share my spreadsheet if you'd like (email or twitter me to ask!). It's where I get the numbers for my monthly spending posts on the blog. It keeps it easy to see where my money is going and if more is going out than I would like, since I have tons of formulas that automatically add and average for me.

(2) Having spending/saving goals
Also on that spreadsheet I have a "goals" column where I write my goal of how much I'd like to save or spend (depending on the section of the budget) in various categories. If I see myself getting to close to the spending limit, I try to slow down my spending in that area.

(3) Focusing on the be picture
My ultimate goal is to own my own place and to be financially free. I keep reminding myself that I am saving for a bigger goal than just that few hundred dollar X gadget. I tend to think about most purchases for awhile before I make the choice to go for it. Even when clothes shopping, I tend to bring home items to think about and wind up returning a whole bunch.

(4) Being accountable to someone (my readers!)
I think people who are married have an advantage at this. If you are sharing your finances with someone, I think it forces you to be a little more thoughtful when making purchases. I used to not think about it as much, but the blog has made me much more conscious. I hold myself more accountable because I know I have to report it to all of you.

(5) Remembering the "latte factor"
I've realized (which somehow a lot of my friends haven't yet...) how quickly the little things add up, so I try not to spend on the little things if I can avoid it. It's easy to fall into the "it's only $5" trap, but when you multiply that purchase by 52 weeks in a year... well... way more than $5. It goes back to (3) above... it's about the big picture.

(6) Living a minimalistic, earth-friendly lifestyle
I've given up on my Get Rid of Stuff Sundays, but that doesn't mean that I am trying to fill my apartment back up with stuff. My Get Rid of Stuff Sundays helped me to be more mindful of the items I bring into my home, so I really think about purchases before I make them. I also try to lead a "green" lifestyle which in many ways is a less expensive lifestyle because I re-use as many things as I can.

(7) Finding the fun in FREE!
I love finding fun, free things to do. It's really easy for me since I live right near DC and there are always a million things going on. Free in DC is my favorite place to find things to do! If I start my day doing something fun and free with friends, there is less of a need to spend later or at least it turns into a less spend-y day.

Readers, how do you stay conscious of your spending?

Today I'm grateful for: cherry blossom adventures.

11 Ways I Save on Food

Reader TeacHer asked this in my February Spending post:

How did you only spend $100 at the grocery store in a month?!!! In fact, how are your overall food costs so low?!! I'm your neighbor (I live in Alexandria), so please - tell me your secret!!!

I thought this was a really good question and worth going into some detail about. Below are the reasons why my food costs are low, in list form (of course!). Keep in mind that some of these things are unique to my situation and won't translate for everyone.

(1) I'm only feeding me.
I live by myself, so there is no spouse, kids or roommate(s) stealing my food. I buy the things that I know I like and am going to eat.

(2) I get a lot of free food at work.
Without revealing too much about my profession, I do get at least one free lunch and a couple of free dinners each month. There also is usually random leftovers/snack food lying around. This cuts back on the amount of snacks I buy and cuts the cost of a few meals.

(3) I have a (loose) rule: Eating out is social and I don't do it by myself.
I do break this rule every now and again, but when I do, it's always something cheap (nachos or a Chipotle burrito). This saves money because food that other people prepare is more expensive than food I prepare.

(4) I always pack my lunch.
I can't remember the last time I paid for a workday lunch. I would have to leave my office, get in my car and drive somewhere to pick up lunch. It also breaks the rule in #3 above, it's not necessary to buy lunch at my workplace in order to be social. This cuts back the amount I spend on eating out.

(5) I buy things that go bad in small quantities and try to eat all of it right away.
I like having fruits and salad-making stuff, but I know there is only so much of this I can eat. I try to buy a very limited amount of lettuce, cucumbers, mushrooms, etc. because I know they will go bad quickly and I will be throwing away money. I also try to buy fruits (like apples) that stay good for a long time. I have certain fruits that I LOVE, but will only buy at a certain threshold (like I only buy grapes when they are .99/lb). Generally when produce is at its cheapest, it is in season, so it tastes the best then too! Another tip is to look at expiration dates before you buy (especially on bagged lettuce, baby carrots, milk etc.) and buy the farthest date in the future, guaranteeing that you will get the most use out of the item for as long as possible. This leads to less waste because I eat what I buy, I buy items that will last as long as possible, and I only buy certain items when they are on sale.

(6) I use coupons and try to buy stuff on sale.
I have a medium-sized stockpile of non-perishable foods that I buy on sale and/or with coupons. I use a few local bloggers websites (Redemption Unlimited, Frugal Friends in Northern Virginia and Moneywise Moms) to keep track of coupon matches and when stores are having double and triple coupon sales. I generally just go to Giant for groceries, but when there are really great sales, I'll hit up Safeway, Shopper's or Harris Teeter. I don't go to every store every week, but over the course of a few weeks or a few months, I will hit up each of those stores. I get such a thrill out of finding deals, that I keep track of it on my other blog.

(7) I get a lot of my toiletries for free or really cheap.
I've started playing the CVS game where you use coupons and roll over extra bucks from week to week. Again, more of that is over on my other blog and there are other blogs that help track and arrange those deals so that I don't have to do all of the work.

(8) I'm lazy.
Some weeks I wind up not grocery shopping at all. If I know I'm going out of town for a few days or have a bunch of days in a row where I am meeting friends for dinner, I won't go grocery shopping. I won't always eat the best those week (lots of PB&J!), but I'll clear some of my shelves, be more social and not spend any money at the grocery store.

(9) I'm vegetarian.
Meat is expensive. Meat dishes are restaurants are more expensive than the vegetarian counterparts. Not eating meat saves money. Period.

(10) I eat at cheap restaurants and don't drink that often.
I'm not a foodie. When I meet up with friends, I try to be the one to suggest where we go, so I pick some place that is not too expensive. Most portions are huge anyways, so I try to get something that will provide me with leftovers (thus halving the cost of my entree). I don't like to drink alcohol and I've stopped drinking soda, so those are the little things that add up when you're at a restaurant.

(11) I eat the same thing over and over again.
I'm not adventurous in my eating. If I have something open in my fridge, I'll eat it until there is no more left so it won't go bad (again, that would be throwing away money). For example, I love to make Mexican food. I'll open a can of black beans and a bag of shredded cheese and then eat things with beans and cheese in them all week.

So there you have it. That's why my food costs are cheap.

Do you do anything different than those things to save money on food? Tell me about it in the comments!

Today I'm grateful for: the Smithsonian Kite festival and a totally random and unplanned day of fun.