Another month has passed again… So it is once again time to do a quick update on my financial goals for 2017. I will admit now that I didn’t actually do this exactly at month end, so my values might be a little off… No big deal.
#1 – Emergency Fund
A good month for the emergency funds… The first stage of the human fund is done, so now to concentrate on the pet fund a bit, before trying for the second stage of the human fund…
Human Emergency Fund = $10,000 (+$3260)
Pet Emergency Fund = $2230 (+$905)
#2 – Planned Spending
I was gifted some money from my grandmother this month, so we were able to put that towards some of our planned spending goals.
- Travel #1: $3650 / $3000 >> We spent more than we had planned…
Income Tax: $0 / $400>> Turns out we both got a refund this year!
- More Home Renos: $4000 / $35,000
- Other Travel: $3700 / $5000
- Other Savings: $0 / $16,000
#3 – Net Worth
We have once again had an increase in our net worth. This time we are actually higher than where we were at the beginning of the year. I know, I know… I keep saying that our goal is to decrease our net worth and actually spend our renovation money on our house, and instead of spending, we keep saving… But don’t worry, we spent a chunk of money this month, and the renovations are going to start going through in full swing in about a week or so… I promise that you will start seeing movement downward here soon.
#4 – Monthly Spending below $8000
Whoops. We are over… Not quite as high as February, but close… I sort of foresee the next couple months being expensive too… Especially when it comes to food… We are renovating our kitchen, so we will likely be without a functioning kitchen for quite a while… Which will likely mean eating out and getting takeout a lot more. Not to mention that the summer months are always our most spendy…
So, May wasn’t 100% successful, but I am pretty happy that we finally have our emergency fund fully funded, and are working on the pet fund.
How was May for your finances?