October 2016, Progress Report

October 2016 – How did it go?

I have no idea how it happened but tomorrow is November already – what? With only two months to go to close the year, let’s review how we are doing.

Income* Expenses Assets 529s Debt
October $141.8k $63.8k $354.2k $38.7k $138.6k
Goal $165k $80k $360k $50k $135.3k

The good: Our income is going as expected, we may even earn a bit more than anticipated (after taxes and after paying for anything our employer takes out).  Also, we are actually getting in better spending habits and feel very comfortable and confident that we will be able to go under $80k by the end of the year. I know to some of you this sounds really high, and yes, we have room to go lower (we have a better goal for 2017), but when our previous few years were over $100k I call this a big win in the right direction.

Also, we remain on track for putting $50k on our kids 529s (combined) though we may end with a little lower balance as who knows what the market will bring to close the year, and, since we have over a decade to go, we have it in pretty aggressive investments. Regardless, we are done putting money there by end of year. Similarly, our debt repayment is on track, what we like to see!

The not so good: For the first time since starting this blog our assets are lower than the previous month despite adding quite a bit of money in there. That is ok though – it was expected AND we did increase our cash holdings to about $7.5k of that money (we had virtually zero before that) and we are still on track to hit that $360k by year end unless something dramatic happens….

The fun:  As we approach the year end and 2017 will be the first year we track our progress from day 1, I plotted out our asset plan vs actuals goals and debt repayment in  graph format for easier visualization. Obviously I don’t expect things to go as linearly as this ever, but will serve as a good guideline as to how we are doing towards our goal, based on our assumptions.

Here you go, as of today. Blue is the plan, orange is actuals (purple #s are as of today).

fire-plan-vs-actuals

debt-repayment

There you have it, a plan and the added pressure of having to tell you dear reader how we are doing seem to be working for us! Woot!

How about you – feeling good about October and generally about closing out the year? What are your good, bad, ugly, fun, exciting updates?

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