October 24, 2011

October 2011 Net Worth Update (+$9,000.12)

I’m posting this a few days early because I will be away on business. After a $6K+ drop in our net worth last month, I was happy to see it recover nicely this month. Our net worth increased $9,000.12 from last month, to a total of $148,403.51 (click on spreadsheet below).

What Worked
My wife’s 10% 401(k) contributions began this month. We contributed a total of $1,428.38 to our retirement accounts and saw them increase a massive $8,477.30. We also opened a Vanguard 529 Plan for our baby, funding it with $3,000 from our savings.

What Didn’t Work
Our savings balance dropped, but only to fund our son’s new 529 Plan.

Next Month
November looks to be shaping up as another strong month. I receive a 3rd “extra” paycheck that we should be able to bank 100% of.

October 9, 2011


My wife and I spent a few minutes this morning registering our credit cards, debit card, and grocery story loyalty cards with Upromise.com. Upromise.com allows us to earn cash back on these cards to use towards our baby boy's education expenses. Upromise works with companies to provide this benefit (FREE cash) to parents at no cost. If you have kids, check it out!

October 3, 2011

September 2011 Income Statement

The excitement of our first child’s birth in September overshadowed our pretty normal income and expense month (click on spreadsheet below).

In addition to our regular paychecks, my wife received a $25 reimbursement from her company for internet. We also sold some items on craigslist for $25 and earned $26.82 in interest income from our online savings account.

We ended up spending a total of $5,819.22 in September, including $500 for an insurance co-pay for the hospital and $156.69 for a tux rental. The $1,850 cord blood banking bill and $400 balance due to the doula were not paid this month, but will be paid in October.

I’m not sure what to expect in October. Our net income from my wife’s company will drop because her 10% 401(k) contribution begins in October; at same time we are adding our baby to her insurance, increasing the cost from $75/month to $325/month. My wife will be taking 1 week PTO and then 4 weeks short term disability (full pay). After that, she will need to take 1 week unpaid and then begin Paid Family Leave (55% of your highest gross quarter).

October 1, 2011

September 2011 Net Worth Update (-$6,074.95)

It’s a BOY!!! Our son was born at the end of September, making this our best month EVER. Being new parents is a lot of work, but there is nothing that comes close to the amazing feeling. We the excitement of our new baby, I haven’t had a second thought about our net worth getting pummeled again this month. Our net worth decreased $6,074.95 from last month, to a total of $139,403.39 (click on spreadsheet below).

What Worked
Our beautiful baby boy was born!

What Didn’t Work
We contributed $1,013.00 to our retirement accounts, but saw them decrease $7,716.19 to $81,483.75.

Next Month
Going forward, my wife’s net income will be reduced because of her new 401(k) contribution and we will be adding our baby to her insurance. We have elected to begin contributing 10% of my wife’s pay to her 401(k) plan during her first open enrollment in October (the company matches 6% with a 3 year vesting period). We will also be adding the baby to my wife’s insurance, increasing the cost from $75/month to $325/month.