Where the heck has the last month gone?? I lost the entire month of June somewhere between being crazy busy at work, selling my house, and enjoying the start of summer. I have some new posts in the works, so I promise that July will be a more interesting month here at HotFrugal.
Now, let’s get on to the June update. The big news of the month is that I closed on my house and am now totally and completely debt free! My net worth has gone down a bit due to the sale. Closing costs and last minute repairs can add up quickly. These costs ate into the proceeds from the sale, so that impacted my overall net worth. No worries though… I’m still doing quite well and continue to make progress toward achieving my financial goals.
My net worth as of July 1, 2010 is $64,888. Last month my net worth was $78,291. My assets and liabilities are:
|Mad Money Savings||$2,362|
|Health Savings Account||$1,646|
|401(k) (Vested Balance)||$32,153|
|Car Value (per KBB)||$5,125|
|Net Worth (Assets – Liabilities): $64,888|
Over the past six months, my spending has averaged $2,533 per month (my goal is to keep this around $2,500 based on my current living situation). This excludes savings, retirement contributions, health insurance, and healthcare costs.
June was a heavy spending month because I did a lot of shopping for new clothes in an effort to look less like a hobo. I got some great deals, but I did spend a lot of money. That means clothes and shoe shopping are off limits for a few months.
I continue to struggle to stay within my Grocery and Dining Out budgets. This is something I really need to work on because it’s not only affecting my bank account, but my waistline as well. Not good!
|Budgeted Amount||Actual Spend (June)||Variance|
|Dining Out||$160||$187||$27 over budget|
|Groceries||$238||$272||$11 over budget|
I’m very happy that I’m this close to achieving my $24,000 emergency savings fund goal. I’m getting a refund from the balance in my escrow account for property taxes and insurance that will put me over my goal as soon as I get the check and cash it. This will be the first major financial goal I’ve accomplished, and I’m a little giddy about it. Viva la frugal!