Welcome to our December net worth update. I hope everyone had a great Christmas and New Year, or whatever holiday you chose to celebrate. We had a great time. Lots of great food, family and fun. We even managed a few down days where we relaxed at home. Just enjoying some quite time and doing nothing.
We kept our new Christmas Eve tradition in place having a wonderful meal at a great local restaurant with family. My wife cooked a nice prime rib dinner for Christmas day. It’s easy to see why so many people set New Year goals of losing weight and getting in shape, December is all about eating.
There is a lot of buzz about no spend month for January. We’d like to take part, but will look to push it until later in the year. We have several family birthdays in January, including my own and my wives. We are also hosting our annual Bagna Cauda gathering this month. So, it will be difficult to keep spending low, but we will do our best.
Let me share a proud dad moment, both my son and daughter have been accepted to several colleges with scholarships! We are waiting on all application answers to come in before making any final decision, but it’s nice to have these in place early.
I have two upcoming speaking events over the first three months of the year. I’m looking forward to sharing our debt free story and best tips on how others can start their own debt free journey. I’m excited to have these events early in the year to hopefully help others get their 2017 started on the right foot financially.
My wife and I have talked and began reviewing our number for the month and 2016 year. We did see our net worth increase by over 10%, but with our main 2017 goal of cash flowing college for our twins we need to make some changes in our budget and increase our savings rate ASAP. That’s our priority for 2017.
Now on to the real reason you stopped by the numbers, I continue to use Personal Capital* to track our finances. I really like having one place to aggregate all of my accounts. I also continue to crunching the numbers myself by updating my excel spreadsheet.
We continue to use Digit to help automate our savings. Digit connects to our checking account and analyze our income and spending. Over time it finds small amounts of money that it can safely set aside for us. This has really help us increase our saving rate.
Our December Numbers:
Net Worth Details
Cash (+$1,225.00): A bump due to some cash gifts for Christmas and see next item. We are working on increasing our saving rate.
Digit (-1,780.86): Sixth month using digit and we made our first withdrawal to cover the cost of December expenses. Glad to have cash on hand.
Retirement (+$4,650.88): Another bump up this month. It will be interesting to see how things progress in 2017 with the incoming president. #initforthelongterm
529s (+$84.22): A small increase after pulling the plug on the 529 saving for the twins and have automated that savings to a regular saving account.
Autos (-$3,021.00): I use Kelley Blue Book for our car values. A bit of a drop, but it’s still nice to have three well maintained paid for vehicles in our driveway.
Home ($0.00): Still an estimate, we have no plans on moving any time soon.
Mortgages ($-1,057.00): Our one and only liability. Did we just bob our head above water? Slow and steady wins the race right?
How was your December? Did you survive the Holidays? Are you planning a no spend month in 2017?
*The Personal Capital and Digit links is an affiliate link. If you sign up, the blog makes a little bit of money. Personal Capital is a free tool and a great way to keep track of your net worth. Digit is a great way to automate your savings. I only recommend products or services that I use personally and believe you would benefit from.