My net worth as of April 30, 2006 is $49,835. I’m so close to $50,000, I can smell it. Here are the details.
My savings account balances look like they held steady, but there was a bit of movement. Of the $10,000 or so in savings, $4,000 is earmarked as my emergency fund. That balance goes up and down too frequently. In April, I used money from that account to pay my state tax bill and to help me out at the beginning of the month when my bills are due.
I’m not managing my savings well; when I’m paid, I probably transfer too much to my other savings accounts, earmarked for vacation and relocation spending. I have to stop the habit, lay off the emergency funds, and start replenishing the account. My Roth IRA contributions can be accessed in an emergency without penalty, so I could tap that account if necessary, but I’d rather not.
My relocation fund is at $1,300 right now. I haven’t tapped that account since November 2004, when I must have been running short somewhere else. At that time, I pulled out $2,500, almost the entire account. I deposit $55 into this account every two weeks, and I plan to use it to help pay for my imminent move to another apartment, though I’d rather be saving for a down payment for a house.
The decrease in my Business account will be explained below.
At the end of April, my checking account was higher than usual, as I just received a paycheck and two refund checks from the University of Phoenix. One of the refund checks has already been applied to my student loan (in May), but I haven’t set up the transfer for the second yet.
My investments are creeping along. Even with 6% of my gross salary being transferred into my 401(k), and with my company matching 4% of my salary, my 401(k) is barely inching up to the $25,000 mark. I also started my SEP IRA this month. That contribution came from the Business account, which explains that decrease.
There’s nothing special to report regarding my credit card accounts. I pay the balance off every month so I never have to deal with interest charges or late fees. The end of the month balance doesn’t really explain much about my spending habits. I’ll have to look at my income/expense report to analyze that.