End of Month Update-February 2016

Assets: Total: $4601.10–>$11355.07

Checking Accounts: Total: $153.42–>$20.46

  1. Checking Account I: $153.42–>$20.08
  2. Checking Account II: $0.00–>$0.38

Savings Accounts: Total: $9.87–>($2.13)

  1. Savings Account I: $6.61–>($5.39)
  2. Savings Account II: $0.24–>$0.24
  3. Savings Account III: $3.02–>$3.02

Cash

Retirement Accounts: Total: $4135.99–>$4618.22

  1. 401(k) I: $3371.92–>$3804.85
  2. 401(k) II: $764.07–>$813.37

College 529 Fund: Total: $117.05–>$117.12

  1. State College 529 Fund: $117.05–>$117.12

Brokerages: Total: $184.77–>$160.88

  1. Brokerage I: $184.77–>$160.88

Investment

Personal Loans to Others: Total: $6440.52

  1. J 1: $6352.52
  2. J 2: $88.00

Debts: Total: $8882.96–>$10112.90

Credit Cards: Total: $2982.96–>$4212.90

  1. Credit Card I:$2671.63–>$2729.29
  2. Credit Card II:$311.33–>$1483.61

Credit

Student Loans: Total: $XXX

  1. Student Loan I: $XXX

Personal Loans: Total: $5900.00–>$5900.00

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

Loan

Total Net Worth as of 02/29/2016: ($5369.64)–>$1242.17

Net Worth

———–

My +1

Assets: Total: $17.67

Checking Accounts: $0.00

  1. Checking Account I: $0.00

Savings Accounts: $17.67

  1. Savings Account I: $17.67

Debts: Total: $6734.05

Credit Cards: $381.53

  1. Credit Card I: $381.53

Personal Loans: $6352.52

  1. Loan to me: $6352.52

Total Net Worth as of 02/29/2016: ($6716.38)

———–

Changes from last month:

This month has been difficult, and in it being so, has also been eye-opening. Unrelated to finances, I had one particular week where everything seemed to go wrong. Somehow I was able to make it, but wow was it scary at the time.

Okay, so money. Nothing in checking and savings look worse(thank you minimum balance fee), but that is okay for now. Credit balance shot up there again because of the crazy costs of books. My 401(k)s rose with my regular contributions, which is good since for a while it seemed like those contributions meant losing money because of the stock market taking a dip. My 529 project didn’t receive the money I planned on putting in because of bailing out a friend(something I will touch upon in the next paragraph). Nothing changed with the money I owe people, and no student loans yet(wait until next month) because I planned on hitting most of my tuition with my paychecks(which is exactly what didn’t happen). I’ve decided to add loans that I’ve given out to people on here to get a better picture of my net worth.

I had told this person that I wouldn’t help them again if they blew their paycheck since I had already helped multiple times before and I have my own life to fund. We talked about saving, paying ahead, etc., and I thought it sunk in. I was wrong. Again, she blew it all and needed help. Perhaps it is just me being stupid, but I decided to help one last time. The only difference being that my help was conditional. I was only going to bail her out again if I took over her finances for a while. My thinking is that if I take this burden off her shoulders for a while and show her a different approach to what to do with money on payday, that she’ll understand. The stress of wondering if you’re going to make it to the next paycheck is unbelievable, and perhaps seeing and actually living a different way, can show her the difference in stress. This is the thinking going into this though. So, with complete anonymity, her stats are up to keep track of everything. We have a budget set up, and I’m hoping(I seem to be hoping for a lot of things) that this will work. I am, however, not blind to the fact that, and have come to terms with this failing anyways. I have to try though.

Life is full of hurdles that one must overcome. I’m trying my best to overcome mine, as I’m sure most of you are doing with yours. You don’t need to be the best. You just need to be the best YOU you can be. The only person you should be comparing yourself to is the person in the mirror from yesterday.

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