End of Month Update-January 2016

Assets: Total: $4571.02–>$4601.10

Checking Accounts: Total: $644.74–>$153.42 (-$491.32)

  1. Checking Account I: $642.72–>$153.42
  2. Checking Account II: $2.02–>$0.00

Savings Accounts: Total: $18.85–>$9.87 (-$8.98)

  1. Savings Account I: $18.61–>$6.61
  2. Savings Account II: $0.24–>$0.24
  3. Savings Account III: $3.02


Retirement Accounts: Total: $3662.93–>$4135.99 (+$473.06)

  1. 401(k) I: $2937.65–>$3371.92
  2. 401(k) II: $724.28–>$764.07

College 529 Fund: Total: $117.05 (+$117.05)

  1. State College 529 Fund: $117.05

Brokerages: Total: $244.50–>$184.77 (-$59.73)

  1. Brokerage I: $244.50–>$184.77



Debts: Total: $9940.66–>$8882.96

Credit Cards: Total: $4240.66–>$2982.96 (-$1257.70)

  1. Credit Card I:$2782.98–>$2671.63
  2. Credit Card II:$1457.68–>$311.33


Student Loans: Total: $XXX

  1. Student Loan I: $XXX

Personal Loans: Total: $5700.00–>$5900.00 (+$200.00)

  1. W: $700.00–>$700.00
  2. R: $3000.00–>$3000.00
  3. M: $2000.00–>$2200.00


Total Net Worth as of 01/31/2016: -$5369.64–>-$4281.86

Net worth



Changes from last month:

Well, once again, I had to bail out a friend since she blew her paycheck and had bills due. This is a trend that has been happening since October 2015. I sat down with her and talked about how she should use her money for her responsibilities first and then use whatever is left for herself, and it seemed to sink in, so we’ll see how that goes moving forward. As for me, having her blow her check in the beginning of the month threw me off track. I was able to put what I got on the 22nd to good use though. I added a new savings account where I can put discretionary money until I want to use it(and hopefully forget about it, out of sight, out of mind, right?). Still lost some money from the one savings account due to not having the minimum balance, but I have a plan for that account that *SHOULD* be fulfilled by the end of next month. My investments took at hit halfway though the month, but I’m not worried about that at all since you shouldn’t fret over day-to-day fluctuations in the market and the fact that I restarted my contributions for my 401(k)s. I also had to take a little more from that third personal loan, but again, not too worried about that at the moment.

Lastly, I opened a 529 account. I did this as a way for me to save up money for college. Instead of it sitting in a savings account where I might be willingly to spend it willy-nilly, it’ll be locked up for school expenses ONLY(that penalty is enough of a deterrent for me). I figured I should put the money in a place where it’ll for sure get to the school since I had no other choice but to take an un-subsidized loan for this semester of school. It hasn’t cleared yet, which is why I don’t have a value in there at the moment.

A little bit of good news though, I am loving the university I transferred to and am enjoying classes. I should be in my intended major by fall if my tentative schedule for classes for summer goes as planned. Let’s see where February takes us!

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