Q1 2018 Financial Progress Report

Can you believe March is almost over?! What a crazy ride it has been. With that, time to review where we stand as of end of business today.

Assets & Debt

Liquid assets stand at $624,800.

Our EOY goal is $704,000 ($79,200 to go), though, since we decided to start putting more money towards our mortgage than fully funding post tax accounts, we are not sure we are going to get there, and that is ok.

Our combined 529 balances (not counted above) remain stable, despite the recent drop, at $60,570.

Remaining mortgage plus car debt is $92,600, significantly better already than our EOY goal balance of $101,700, with lots of payments to go! Our mortgage part of that is about $73k, the rest is car, and I estimate our house value is about $290-$310k, leaving about  $200k in equity after fees and all that stuff if we were to sell.


We made a few tweaks to our budget already.  As you may recall, we are trying to cut down from $75k last year to $70k this year.

Originally, we had moved down our travel budget from $12k to $8k and made a few other adjustments to hit this goal, however, we were hit with some significant medical expenses earlier this year – few ER visits (all well now, kid injuries and stuff!) – which has forced us to have to cut further in other categories as well. In addition, we  got some extra few expenses from the car we bought last year, so that is reflected on the car expenses as well, which will have to mean spending less in other areas (restaurants, entertainment, etc).

Finally, I forgot to budget for our tax preparation fees (boo!), which were over $500 bucks and I have put that in the ‘shopping / entertainment’ category (I know they are fun right? urgh. Was too lazy to create new buckets :)), so will have to make up for that elsewhere too.

All in all however we are still generally on track and think we can hit our goals (even if the savings and investments don’t match as we redirect towards paying debt).

Let’s see how we go and if the market cooperates or takes back years of gains.

How about you, how goes it so far?!

 Category Budgeted Q1 Avg Variance
Mortgage $1,400 $1,400 $0
Utilities/cell phone $500 $499 $1
Groceries $500 $538 -$38
Restaurants $200 $126 $74
Personal /entertainment $570 $804 -$234
Gas/Car expenses $750 $695 $55
Medical expenses $480 $680 -$200
Vacation/travel $580 $340 $240
Kids $500 $375 $125
Pet $300 $406 -$106
Replacement fund $50 $3 $52
Total Monthly $5,830 $5,865 -$35

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