Each month I will post an update on my finances to both give you, the reader, some insight into my situation and to give me markers of my progress on my financial journey. My updates include both spending and net worth.
- Spending is divided into joint and individual spending. My husband and I each get $450 a month for our own individual spending as an “allowance.”
- I don’t include charitable contributions in our numbers below, but we allocate 10% of our post-tax income to this each year.
- Our net worth goal tracked using undisclosed units of money. Our goal is to hit “Financial Equilibrium”, based on Thomas J. Anderson’s book The Value of Debt in Building Wealth. This is fairly close to our FIRE number.
In terms of mental health, May was the best that I’ve been in a long while. In terms of financial health— not the best we’ve had.
Let’s chat money first: lots of big spending this month including a new fancy queen sized bed, including an Avocado mattress and a new platform bed with lots of built in storage which we spent almost $2,600 on. But like they say, anything between you and the ground is worth it (though I’m now realizing “they” are likely mattress salesmen).
The crypto markets were a bit of a rollercoaster in May. By mid-May we almost hit our “after-tax investments” goal from rallying gains. Then came the dip wiping out all our gains from when we started putting money in. Since it has bounced back a bit, bringing us more or less to mid-April prices. Lots of volatility, but I see it as a long-term investment so we stuck through it.
I expect the financial situation in June to look brighter. Why?:
- Employer stock. I’ll have my quarterly vesting date.
- Medical expenses. My husband has decided to no longer see their therapist (reached the limits of talk therapy, moving to something more “active” like CBT). They’ll be opting for something in our health insurance network, so much lower copays. In addition, we should be getting a reimbursement for much of the therapy costs from our insurance (a few thousand $), so that will help as well.
- No more major furniture purchases on the horizon. Pretty self-explanatory.
- Major crypto upgrades in July. Most of my friends are sick of me waxing on about Ethereum so I’ll just say there are major protocol & community upgrades scheduled for late July that are pretty exciting. Prices tend to rise in anticipation of these sorts of changes, then consolidate immediately after. “Buy the rumor, sell the news” and all that jazz.
- Being able to go to the grocery store = more cooking. One of the big turn-offs for me in terms of cooking is that I don’t really feel “connected” to the whole process if I don’t get to include a trip to the grocery store as part of the routine. Since I’ll be immune soon, I think this will help kick start good habits again and help us get our food spending down.
That said we do have to pay for gutter repairs soon (it’s always something with these old houses) and my husband is still not working. Plus I plan to quit my job in July. That said, we’re in a good place and I am optimistic overall.
On the job front: I have two final round interviews in mid-June. One place I’m really excited about and a FAANG I’m “meh” about but is worth doing the interview for so I can use the offer as negotiating leverage. I have so much prep to do for both though— why are interviews so time consuming!?
Also got a promotion at work, which is kind of moot at this point since I’ve decided to leave. Still, I am waiting for the promo change to kick in before I give notice so I can use the title/comp as a baseline in job interviews. I feel like a heel waiting until I “get mine” to tell my manager I am leaving, but the cynic in me says I’ve put in the work for long enough and at-will contracts go both ways.
On the personal front: still not pregnant (sad) but I did get both doses of the Moderna vaccine! I was a bit achy and lethargic after the second one but not too bad. In another two weeks I should be ready to be back out there in the world and I’m so stoked.
How was your May?