I think the economy is fine, even though many Wall Street followers will try to lead you to believe otherwise. But, unfortunately, we’re in a bit of a rut with our personal finances.
I just completed our net worth analysis, and for the fourth month in a row, our net worth has fallen.
Luckily, the amounts every month a pretty small, and even with four months of losses, the overall loss isn’t much. It could be made back up with one good month, so here’s to hoping.
Still, I thought it would be worth looking at why:
- We paid our Disney trip – Trips to Disney World aren’t cheap, and we definitely decided to splurge given that it was a trip we’ve been saving for awhile and aren’t likely to repeat for at least a few years. The payment for that came due and even though it was earmarked, it still took a chunk out of things.
- That darn stock market – Even though I think we’re fine, the market has been a bit spastic, so our investment balances have declined a bit over the past few months with the market turbulence.
- Summer spending – I don’t know about you, but it seems like the time when spending gets a little bit above normal seems to coincide with when the temps are higher, and we’ve definitely felt it this year. We haven’t made any major purchases, but it’s been more the little things adding up. My wife and I have talked and will be consciously reigning in our spending to get back to where we’re more comfortable.
- Side income was down – When we camp, my wife’s side hustle gets shut down, and my side hustles have been in a bit of a lull. Now, things have picked up for me and my wife’s shop will be open more, so this should help on the income side of things.
That’s really about it.
Am I concerned? Not really. While it would be nice to have our net worth go up month after month, the fact is that it doesn’t. I actually track how often it does, and it’s around 70% of the time for us where it goes up, meaning that 30% of the time it doesn’t. Over time, it will average out and that’s what I’m targeting.
Readers, have the warm months been kind to your finances or do you have some ground you’d like to make up?Copyright 2015 Original content authorized only to appear on Money Beagle. Please subscribe via RSS, follow me on Twitter, Facebook, or receive e-mail updates. Thank you for reading.