Retro: May 2006 Net Worth Update

 

Our big wedding day is almost here.  June is just around the corner! As I look back on this last month, it all feels like a blur because of all the last minute details (and expenses) to get ready for everything.  I plan to take it easy until our wedding day.  I want to enjoy everything that we have so carefully planned.  And I’m excited for life as a married person!

It’s also a big week because I celebrated my one-year anniversary at work.  It’s hard to believe that an entire year has passed since graduating college.  My fiance and I have really enjoyed the year — our big move to a new city, the purchase of a duplex property, settling into life on-our-own.  There have been a lot of changes, but we’ve seemed to meet the challenges very well.

One FULL YEAR of working, saving, and growing our net worth.

Onto the financial update; I’m please to announce another monthly GAIN to our net worth.  This makes 12 straight months of net worth gains.  We did it!  One FULL YEAR of working, saving, and growing our net worth.  It feels like it was just yesterday that we were finishing up our final papers and tests, getting ready for college graduation.  I can’t believe it’s been one year ago already!  I hope to celebrate the occasion in the next post by sharing some fun statistics.

As of the end of May 2006, our net worth has increased by $4,753 to a new total of $88,420.  

FI Champion's Net Worth Update for May 2006

(View details and definitions for all line-items in our monthly Net Worth Updates)

Noteworthy highlights for the May 2006 update:

-Our expenses were FAR from normal in May.  They were quite high.  This may have been a record-setting month in terms of net worth gains if it weren’t for all these expenses.  Sigh.  Just take a look below:

-We had another series of bills due for our wedding and honeymoon.  For the month, we spent nearly $1,800 on wedding expenses.  Who knew details such as chair covers would be so important to my soon-to-be wife?!  Sheesh… these things add up!  We also purchased a nicer digital camera to use for our big day and also on our honeymoon trip.

-The refrigerator on the rental property half of our duplex went out!  Thankfully we had negotiated for a home warranty during the purchase of the property.  This was paid for by the sellers.  The warranty kicked in and we received a payout for the broken refrigerator.  We still had to chip in a little extra for a new one.  But the warranty covered most of it, so we were thankful.

-We had lots of healthcare expenses during the month.  Both of us visited an eye doctor and then purchased contact lenses.  We also visited the dentist.  Altogether there was a few hundred dollars in services to pay for, beyond what our health insurance covered.

-I purchased a new laptop computer to replaced our old one from college.  Hey, I’m in the tech field so I need to stay current, right?  I stayed below $1,000 total, but it was an expense for the month.

-Car insurance payment were due this month.  I make these payments every 6-months.  It wasn’t a ton of money.  I only mention because it is yet *another* expense that was outside of normal.

-Our Federal and State tax refunds were received and…

Continue reading the “May 2006 Net Worth Update” post by clicking here.

 

Note From Author

The full “May 2006 Net Worth Update” post has been back-dated to 5/31/2006.  But it was originally published to the Financial Independence Champion (FIChampion.com) Blog on 10/03/2016.

Why Back-Date Posts?

I mentioned in my first post how this blog will be a little different than any other ones you may follow.  I still plan to talk about personal finance, rental property, travel, and the pursuit of financial independence.  But to give all these topics the right context and the full picture, I need to start at the beginning.  I need to fill in the details of life from 2005 until now.  I want you to see the successes, the struggles, and all the milestones we passed along the way.  Therefore most of the “new” content will be back-dated to their appropriate dates in 2005, 2006, and beyond — until we’re caught up!

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