Inspired by a few other bloggers, I have been keeping track of my net worth since August. And in September and October, I saw steady increases in my net worth, both due to growth in my investments as well as the fact that in September, I started a new job after finishing graduate school.
November, however, was a bit different. My net worth dropped 2.16% in November. It’s actually a few hundred dollars less than it was in August, which is a bit disheartening. But I have a feeling that most people who invest and who track their net worth will see a drop this month. My investments fell by about 5% this month. They’re already starting to come back, so I expect December will be a bit better.
However, November was also a month of excessive spending for me. As I mentioned earlier, I blew through my monthly spending budget. I didn’t go into debt or have to go into any of my long term savings accounts, because I typically spend under budget and then save the excess for upcoming expenditures. But this did hurt my net worth. I also track my gift certificates in my net worth, and I spent $125 worth of gift certificates this month.
My goal for December is to keep my spending tight. This will be tough, with traveling home at Christmas. My plane ticket is purchased and paid for, but somehow, traveling still seems expensive. Additionally, I plan to meet up with some of my friends while I’m home, which means a few restaurant bills.
I realized that January will be a three paycheck month. Because I’m paid bi-weekly, there are a few months in the year where I receive three paychecks. My plan is to keep my budget as if I only get two paychecks in that month, and then put the third paycheck directly into my long-term savings account. It will be a good feeling to see that account balance go up so significantly.