Good morning and welcome to June!
That we’ve completed another twelfth of the year can only mean that it’s time to talk through the state of my debt and of my net worth.
I spent the majority of the month of May traveling for weddings and other get-togethers — I literally spent more days sleeping outside of my bed than in it — which was euphoric at times and blissful at others.
Of course, such fun always must come at a cost. Let’s see what it did to my net worth.
Yes! Big gains!
The good: The big milestone I passed in May was that at $23,000, I’m now more than halfway to my goal of increasing my net worth by $45,000 in 2014 — one month ahead of schedule.
The ugly: I paid off $400 worth of debt this month, which isn’t nothing, but it’s less than 0.5% of my total debt, and that’s not going to get me anywhere good.
So then, what happened?
When things go differently than I’d expect, I usually just say that the market did it. However, this past month, the market did me no favors.
I will say that I was pretty good at sticking to a budget while I was traveling. Not only that, the bigger expenses — flights, accomodations, and gifts — were either free or purchased well in advance, so their effects had already been spread out over the previous months, and so I had a good amount left to send to debt or retirement.
At any rate, huzzah!
How was everyone else’s May?