It’s officially been one year since my first financial update! Let’s see where we were financially in May 2020:
Our Current Numbers as of June 1st 2020:
- $16,814 Invested
- $10,028 In Savings
- No HSA (will get one Oct. 2022 when we can)
- -$150,279 Total Debt (House and Car)
Some things that happened this month.. our cat had an unexpected vet visit (only $70), he is okay. He jumped at the window to try to catch a bird and fell onto our wood table and hit his nose super hard so he was bleeding all over our living room and kitchen floor. Brandon paid for his car tabs ($194), & we still haven’t gotten the electrical issue in my car fixed or our fence fixed yet.. so we still have some larger expenses coming up. We also started working on fixing up our back porch to make it look a lot nicer, still need to do another coat or two of paint.
This month, I read and wrote everyday. It’s been kind of tiring, but I love what I’m reading & writing, and I’ve been learning & growing a lot!
Anyway, here is where we are at for this month:
Our Current Numbers as of June 1st, 2021:
- $39,868.45 Invested.
- $11,565.75 In Savings.
- -$134,227.20 Total Debt. (House & Car)
- We are both still working full time.
*Just a reminder that we paused our investing for now to focus on paying off Brandon’s car. That’s why our investment number hasn’t gone up that much from last month, but our debt number has gone down a ton!
I’d say we made some great progress over the last year!
- Our total invested went up $23,054.45
- Our savings went up only $1,537.75 (We had a lot of random expenses this last year and focused on investing & paying down debt rather than saving.)
- Our debts went down by $16,051.80. It would’ve been more, but we refinanced our house in September 2020.
So that is an over all positive increase of $40,644! -I’m not including appreciation of our house or the depreciation of our cars, because those things don’t really impact our F.I. goals. With that being said, I had the goal of hitting $100,000 Net Worth by the end of August 2021, but it looks like we’re on track to hit it in June or July! Very exciting, a great milestone!
Our Partial Financial Independence Goal Numbers:
- $100,000+ invested, for retirement.
- $25,000+ In Savings for Emergencies.
- An HSA we are Maxing out every year while working for Medical Expenses. (No specific Goal Number)
- $0 Personal Debt- No Mortgage or Car Payment brings down our expenses a ton ($1,540/month).
- With husband & I working part time (or one of us not at all).
Total amount needed to reach partial F.I. Goals: $207,793
Total Financial Independence Goal Numbers:
- $900,000 Invested
- $36,000 In Savings
- $0 Debt
- Both of us have the choice to leave any & all employment
Total amount needed to reach total F.I.R.E. Goals: $1,018,793