Today we’re bringing you another round of He Said/She Said. These posts are really your chance as readers to hear how discussions (and sometimes disagreements) play out when managing our lives with each other. For a look at some of the past He Said/She Said discussions – check ‘em out here.
Mr PoP and I are getting ready to change gears. We paid off all that non-mortgage debt. We’ve maxed out our 401Ks and Roth IRAs for the year, even Mr PoP’s HSA is fully funded. *whew!*
So as we are looking at more after-tax investing, we’re faced with a question that doesn’t necessarily have the same answer that it did earlier in our marriage: How much do we want to keep on hand?
We don’t really call it an “Emergency Fund” the way many people in the blogosphere do. We’ve just always called it the cash buffer… but how big should it be these days?
Continue reading He Said She Said: How Big A Cash Buffer?
On our recent October Balance Sheet post, I marveled at the fact that somehow our net worth had climbed by almost $200K so far in 2013. But the most interesting part of that whole post, to me at least, was a comment made by Charles from Getting a Rich Life.
“You’ve crossed into the enviable position of your Net Worth increasing at a faster rate than your annual income.”
And until he said that, the thought had honestly not crossed our minds. But holy cow he was right. And it made me think back to some numbers I started crunching almost a year ago.
Your Money Or Your Life
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence was originally written by Vicki Robin and Joe Dominguez over 20 years ago. It’s considered one of the classics of financial independence, written by a man and woman who walked the walk and talked the talk.
The book has been around for so long that I’m not going to try and better on the many reviews that already exist – like this one at the Simple Dollar that is quite thorough or this one from Mr Money Mustache which also has some background about one of the authors, Joe Dominguez. But long and short of it is that YMOYL (that is, Your Money Or Your Life) is basically an instruction manual to financial independence.
Mr PoP and I both read the book after MMM’s review last year, and one of the lessons that stuck with me the most was the heart of step 1 – making peace with the past.
Making Peace With The Past
Continue reading Your Money or Your Life – Making Peace With The Past
Welcome to our November 2013 Balance Sheet!
We use the structure of a monthly income statement and balance sheet in tandem to make sure we are keeping our expenses low and planting our pennies wisely. If you’re not already tracking your finances using these two methods, go to mint.com and get started today! If you have any questions about how we do this just post a comment and we’ll be sure to help!
Despite the high spending month, we still managed to do alright on the balance sheet. (How many more times am I going to have to say “yay for Bull Markets”, PK?)
There were only a couple items of note:
- We marked the value of the cars down (as we do every 6 months according to KBB). This reminder that these depreciating (and expensive to maintain) assets are still on our books makes us both eager for the Q1 Car Challenge
- We added Mr PoP’s HSA account to the balance sheet. Now that we’re officially treating it as an investment account instead of a seldom-used reimbursement account with a small balance, it felt right to track it here even though it’s still small.
So for the month of November:
- Our total assets went up by $12.0K
- Our total liabilities went up by $1.6K
- Net worth rose by $10.4K
- Total net worth as of the end of November is $616.4K, which represents a 1.7% increase this month.
And for the details…
Continue reading PoP Balance Sheet – November 2013
Welcome to our November 2013 Income Statement!
It’s beginning to look a lot like Christmas… in Florida
Mr. PoP and I put these income statements together for two reasons. First, we want to be transparent about our finances because we’re trying to be role models for other people who are trying to plant their own pennies (and end up with dollars someday!). Second, we do this to make sure we’re on track to meet our own long-term goals. If you’re not tracking your income statement and balance sheet, we highly recommend you start using a program like Mint to keep track of it all.
So we knew November was going to be an expensive month, and it did not disappoint. The usual reasons that November expenses get crazy happened:
- Paying taxes on our two investment properties (we pay these 4 months early because we get a 1% discount for every month we pay in advance)
- Travel – Mr PoP goes on a trip to see old friends in November, and I prepaid a hotel room for a marathon next year
- Friends in town visiting always drive up restaurant spending this time of year
- Shopping starts to creep up as we buy presents (hopefully not bad presents!)
But this year we also ended up… Continue reading PoP Income Statement – November 2013
I’ve been bad about doing these “thank you” posts for a while now. But Thanksgiving weekend felt like an apropos time to get back in the habit of thanking other bloggers for sharing and sharing their stuff, too. Plus it provided me an excellent opportunity to share this picture of Kitty PoP I snapped when I made him wear his Halloween costume this year!
He loves it. I swear. =)
Love For Others
Continue reading Worth Mentioning #39 – Thanksgiving Edition