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.
Our Personal Mini-Recession
- We paid our Disney trip. Trips to Disney World aren't cheap. We decided to splurge given that it was a trip we've been saving for awhile and won't repeat immediately. The payment for that came due. We had money set aside, but it took cash off the books.
- That darn stock market. Even though I think we're fine, the market has been a bit spastic. Hopefully that changes for the positive.
- Summer spending. When temps rise, so does spending, it seems. 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. Mine have been in a bit of a lull. Again, hoping that these both normalize.
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?