With that said, you can probably understand why I haven't paid meticulous attention to my stash. Although I probably should have and, under normal unemployment circumstances, I probably would have. So, this also means I haven't compiled any other posts on this blog about ways to maximize my savings, etc. I promise, those type of posts will be forthcoming once we get settled in our new location. For now, there's just too much to focus on outside of that. However, I have remained vigilant about posting my monthly net worth, and will continue to do so.
Without further ado, let's take a look at where my net worth stands 6 months into unemployment...
$80,332
Wow! Wait, how can that be?! I only had $80,043 on January 15, three days after I was let go from work. *Scratching my head* My reported net worth in February was $79,542 with a credit card bill of $1,164 (which I normally pay off before these monthly updates, but...). So, what happened?
First, I must say that I started out with cash savings of almost 14k. I've been slowly transferring money from these savings accounts into my main checking account to pay whatever expenses I had to pay to get by. This included paying my half of the monthly living expenses ($1,000), monthly car insurance bills (this ranged between $370-$280 as I adjusted my coverage), groceries, and miscellaneous expenses that came up.
I fully expected these expenses to draw down much of the progress I'd made before losing my job. After all, what else is an emergency fund for?!
Not to mention, my wife and I have embarked on a couple of trips during the last 6 months: a weekend trip to Florida, a week-long trip to New York, and a week-long trip to London. All of which I paid my fair share, including hotels (where applicable), restaurant bills, and transportation costs.
To be fair, my savings had dwindled to somewhere in the neighborhood of $77,500. My cash reserves had gone from almost 14k to $4,300 and it was disheartening. Then, I had two people who showed interest in buying my Jeep Wrangler (a big point of contention with the impending move since it was an extra vehicle I knew I'd need to get rid of). I ended up selling it quick for $4,500 and managed to prop up my cash savings again.
Still, that doesn't explain how I went from an almost 10k loss of cash to being flush with my last net worth at the time I lost my job. So, noodling the last six months of life, all I can think of to attribute this surplus to is that the market has been doing well. As usual, I check it daily when the market closes. It has its up and downs. There've been a few times when it has closed higher than usual, but those times are typically followed by days where it drops precipitously. It's what the market does. I had a few dividend payments come in, but they weren't that big.
Whatever the reason, I'm thankful for it.
We have another week before we actually move and I have to pay for my upcoming living expenses. Not to mention any expenses tied to moving, so I expect my net worth to be lower when I report it next month. Nevertheless, this is a surprising discovery. It goes to show that, despite being out of work for the last several months and enjoying life, my savings haven't suffered as much as I'd expected them to. I attribute this to preparation through disciplining myself when it comes to finances/spending and, more importantly, good fortune.
I'm confident that once we move and I find a new job that I'll be able to quickly get back on the accumulation bandwagon and increase my stash faster, knowing that I'll be set to weather another stretch of unemployment if it should come to that.
P.S. I'm not a fan of Personal Capital's new look. :(
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| Net worth for May 2017 |
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