Ikeh89's Net Worth for August 2024

Assets	Value	Change ($)	Change (%)
Cash	$28,462	$1,562	5.81%
Emergency Fund	$15,386	$57	0.37%
Kids Savings	$9,773	$65	0.67%
Stocks and Crypto	$52,074	$949	1.86%
TSP	$120,137	$1,513	1.28%
Vanguard IRA	$77,199	($1,685)	(2.14%)
Home	$225,000	-	-
Personal Property	$5,000	$850	20.48%
Cars	$40,000	($500)	(1.23%)
Silver	$3,100	($182)	(5.55%)
Total Assets	$576,131	$2,629	0.46%

Debts	Value	Change ($)	Change (%)
SoFi Credit Card	$2,918	$1,023	53.98%
New Furnace	$4,292	($200)	(4.45%)
Furniture	$425	($220)	(34.11%)
Total Debts	$7,635	$603	8.58%
Net Worth	$568,496	$2,026	0.36%
^*All values shown in USD ($)

Notes:
July 31st Update for August - July was a busy month for the family. We went on a mini vacation visiting family in another state to start the month to the 4th. The wife bought some all natural cleaning supplies in bulk so that was pricey, as well as some more curriculum for our homeschooled kids. I had an eye appointment and bought a years supply of contacts as well a my first new pair of glasses in 10+ years, so again a bit more spending, but its all pretty necessary. Man, has anyone else been feeling the burden of inflation lately? Every time my wife comes home from the grocery store she tells me how much everything has been going up. We generally shop 75% at Aldi and she says the things we buy have gone up 0.30-0.60 cents on every item. For a family of four she said we need to up our grocery budget at least $100/mo. Luckily I get a 3% pay raise in August so I'm looking forward to seeing that. Debt info: CC - Revolving paid in full every month Furnace - 0% interest until October 2026 Furniture - 0% interest until October 2024 Silver Price (Oz): $28.97 (107) Stock adjustments: Rolled my wife's retirement account from a former employer from years ago, into a Vanguard account.

Notes:

July 31st Update for August - July was a busy month for the family. We went on a mini vacation visiting family in another state to start the month to the 4th. The wife bought some all natural cleaning supplies in bulk so that was pricey, as well as some more curriculum for our homeschooled kids. I had an eye appointment and bought a years supply of contacts as well a my first new pair of glasses in 10+ years, so again a bit more spending, but its all pretty necessary.

Man, has anyone else been feeling the burden of inflation lately? Every time my wife comes home from the grocery store she tells me how much everything has been going up. We generally shop 75% at Aldi and she says the things we buy have gone up 0.30-0.60 cents on every item. For a family of four she said we need to up our grocery budget at least $100/mo. Luckily I get a 3% pay raise in August so I'm looking forward to seeing that.

Debt info:
CC - Revolving paid in full every month
Furnace - 0% interest until October 2026
Furniture - 0% interest until October 2024

Silver Price (Oz): $28.97 (107)

Stock adjustments: Rolled my wife's retirement account from a former employer from years ago, into a Vanguard account.

Comments

8/13/2024 8:41:20 PM Ikeh89
***Question for Everyone: Do you or have you ever done "Financial Meetings" with your spouse? Are both spouses involved in the finances or just one?
8/13/2024 8:44:01 PM Ikeh89
In our house we have financial meetings, however I control the money and investing as it's something I enjoy and my wife stresses with. She knows how much we have, and our investing profile. We have common goals and understand where we want to be in 10, 20 and 30 years.
8/14/2024 6:04:05 AM getagrip
I periodically try to have a financial meeting and the spouse generally rolls the eyes and occasionally tries to distract me with offers of intimacy rather than go over our budget and spending. I keep them informed but in general as long as I am not sounding any type of alarm and we get to go on a nice vacation every other year and short ones on the off years, they don't worry about it and let me handle it. I have left written instructions should anything happen to me and am scouting now for a potential financial advisor I feel can be relied on in case I fall out of the picture to help them.
8/15/2024 8:48:58 AM JD2005
We do monthly budget date nights. Usually, the weekend before the month begins. We go over our budget (which I usually prepare - I'm the nerd) and talk about what expenses we foresee in the coming month. Great way to connect and be on the same page.
8/15/2024 9:12:56 AM TheMoneyRat
My wife doesn't pay attention to our finances in any detail and never has, including any monthly spending items. Once a year I send her an Excel snapshot of our balance sheet.
9/9/2024 3:05:24 AM labangel
Another great question! We are both aware of and involved in finances, we keep two individual and one joint Empower dashboards. The news fuels a lot of convos, recent flooding and wildfires in our state triggered us to revisit our home insurance policy and expecting a baby is triggering me to revisit beneficiaries. I am more interested in this so I will use his phone to log into his accts and fill out forms up until the “Review and Submit” page at which point I make him review whatever account action I want him to take like setting myself as beneficiary. He is aware of what I do and why at all times, but left to himself he’s ok not setting a beneficiary since it’s only a $4k acct value.