Net Worth Week 75 – Babies R Us Edition

Gentle Readers,
It is almost time to pack my bag to head to the baby-shower I dread. But, my rule as a human is to show up whenever possible. Even if the family member is a schmuck. Definitely for a baby-shower, especially if the family member is a schmuck since the baby needs examples of how to be good when people are unkind.
I have now paid for nearly half of my invisalign and should receive my first trays in the next 1.5 weeks. It’s going to be more painful in the short-term, but will hopefully correct some of my TMJ. My wallet is not pleased. Since I am worried about cash-flow for myself and my business, I’ve initiated a balance transfer to give me breathing space to deal with the preliminary invisalign costs.  I will have until August 2018 to pay it off. It was approved, but has not yet shown up in the statement.
My student loan payments increase in October because I am on IBR and my income last year was higher than the year before, and I now have a monthly recurring payment for the remainder of my invisalign treatment. The last payment for invisalign corresponds closely with my last Earnest payment. It’s going to be a tight few months.
My dentist was surprised that my treatment plan is for five months. She had envisioned it closer to nine months. With her payment plan, patients pay roughly half upfront and then the remainder in equal monthly payments for the duration of treatment. If my invisalign needed longer to correct my teeth, I would have less of a cash-flow worry in the next few months. At the end of the treatment, I’ll need to pay for a new night guard to match my new smile. Unless my TMJ is entirely corrected, which is not the anticipated result

This week’s net worth numbers

9/8/2017 9/15/2017
 Joy 1109 1109
 Travel 1  1
 Down Payment 19 19
 Retirement 21 21
 Health 46 46
 Moving 286 286
 EF 11 11
Business 5 5
Life 3282  4107
 IRA  13555  13882
 Brokerage 825  823
 Rewards Card 2 -3781 -6345
 CC (largest) 0  0
 CC (longest) 0  0
 Rewards Card 0  0
SL 1 -105503 -105619
SL 2 -46491 -46544
 Earnest -3147 -3154
 Net Worth -139762 -141352
 Percentage Change .24% -1.14%

How much have you spent at the dentist this year?

Goals 2017 – Accountability and Chutzpah!

Gentle Readers,

I am not typically into resolutions, but I think that financial ones could be helpful in focusing me and so I will try them this year. Last year at this time, I did not have this blog or the goals the blog has led me to pursuing. I was ignoring my money and figuring that student debt would constrain my choices for life.  That’s unpleasant to consider.

In April of 2016 I began this blog, and I was in debt to the tune of -$151,728. Focusing on my money had my debt diminish to -$146,049 by year end. That’s an increase of 3.74%. I had hoped to do better than that, but was not anticipating so many medical expenses. Explicit goals are said to be helpful. Let’s give it a go.

2017 Achievable Financial Goals for ZJ Thorne

  1. Pay myself from my business at least a nominal amount every month. If I get one client a month to cash-flow properly, I could pay myself $500/m before taxes.
  2. Finish contributing to my 2016 IRA ($1340 to go)
  3. Increase my Emergency Fund to $1000. ($691 to go)
  4. Pay off Credit Cards ($5785).
  5. Fully fund 2017 IRA ($5500 to go)

This is $13,316.  That is $256.07 a week or $1109 a month for all of these goals. I have until April 15 to finish contributing to my 2016 IRA. It and the emergency fund will be my first priority. Then I will shift to paying down my credit card. The 0% balance transfer ends in July. If I cease spending on my credit cards and pay them off in 6 months, that would be $964.17 monthly. Perhaps this is attainable. If July through December is dedicated to funding my 2017 IRA, that is $916.67 a month in contributions.

My current gig is scheduled to last until mid-February, and we are supposed to continue with unlimited overtime until then. It is possible they will extend beyond February. We won’t know for some time. Our industry shifts rapidly. It is not uncommon to be told at 2 pm that your gig ends that day. Staying gainfully employed is helpful to achieving these goals.

The big goals are even grander and dependent upon finding a gig utilizing the skill I’ve been mastering. If I do that, I can double my pay for some gigs. If I do that, my goals can become enormous depending on how long a gig at that rate could last. These goals are too big for one year, but they are in my mind. Luring me.

2017 Stretch Goals for ZJ Thorne

  1. Get my Emergency Fund up to $5000-$10000 ($4691-$9691 to go).
  2. Save up a down-payment of $15000-$30000 ($14981-$29981 to go).
  3. Spend $5000 on my brokerage account.
  4. Pay off the smaller student loan in a fell-swoop $45000.

What are your goals for 2017?

Net Worth Week 28

10/7/16 10/14/16 10/21/16
Joy 1101 1101 1101
Travel 323 323 323
Down Payment 19 19 19
Retirement 21 21 21
Health 45 45 45
Moving 284 284 284
EF 1005 1005 1005
Business 1 1 1
Bed 0.29 0.29 0.29
Life 596 946  1942
IRA 10007 9914  10011
Brokerage 401 400 399
CC (largest) -4652 -4559  -4559
CC (longest) 0 0 -62
Rewards Card 0 0  -383
SL 1 -102813 -102929  -103044
SL 2 -45263 -45316  -45368
Earnest -7713 -7720  -7736
Net Worth -146637 -146463  -146000
Percentage Change .23% .11%  .31%

How are your Octobers going?