My Thirteenth Net Worth Overshare

Now that I'm back in school, I have dropped down to four basic goals for 2017:

  • Earn an A in each CFP class.
  • Save money every month.
  • Lose weight slowly.
  • Continue building Cashville Skyline.

Pretty simple, right?

Working hard on fewer goals makes it easier to succeed.

I've grown comfortable with leaving emails unanswered, and I've managed to say no more often than yes. I'm feeling more balanced and focused than I have in years.

Afternoon naps, long walks, and cooking meals—these are good things.

Creating space to excel certainly feels good. The downside? Significantly less income. Here's how these choices have affected my net worth this quarter.

spreadsheet of assets and debt

I maxed out Roth IRA and HSA in early January.

Ever since, I've been slowly adding to my cash emergency fund.

Are you looking for your own budgeting tool?

You can download a free copy of my Go-To Budgeting Spreadsheet.

Income

I'm still nursing the sting of my first quarterly tax payment. But overall, self-employment rocks.

I can already see the potential for earning much more on my own once I have more free time.

Last year, I had income from several different sources:

  • Freelance clients (writing, content management, editing)
  • Social media consulting (1-on-1 training for financial planners & bloggers)
  • Blogging income (advertising, sponsored content, affiliate marketing)
  • Courses
  • Money coaching
  • Investment income

This year, I've added courses into the mix.

These are the courses I've worked on this year:

Related:

Professional 

In January, I switched from self-paced online to in-person CFP classes. Best decision ever! The weekly classes are flying by and I've earned an A in the first two courses. I'm still planning to sit for the CFP exam next March.

The idea of changing careers again is pretty intimidating. But I'm trying to take advantage of every resource I can find. Here are the things I've found especially helpful.

  • CFP Board's WIN-to-WIN mentor program – The financial planning profession has consistently faced diversity problems. Only 23% of CFPs are female (and people of color represent only a fraction of that!) One of the CFP Board's initiatives to address this issue is their WIN-TO-WIN mentoring program. I've connected with an amazing mentor who has been sharing a ton of advice!
  • Financial Planning Association (FPA) – I've joined our local chapter and offered to volunteer with financial literacy classes in the community + FPA's annual conference in Nashville.
  • National Association of Personal Financial Advisors (NAPFA) – I've joined NAPFA and will be participating in our local study group. I also receive a daily digest of the organization's message board activity.
  • XY Planning Network – I'm a member of XY Planning Network's Facebook Group and plan to attend the conference in Dallas in August. The entire community is super supportive! I've learned a lot from listening and even reading through old threads.

Related:

Expenses

Overall, my expenses have stayed fairly lean.

But I refuse to skimp on self-care. That's why I'm still paying for:

  • monthly gym membership
  • weekly personal trainer
  • monthly therapist to help with food issues
  • community acupuncture (as needed)

I'm also paying for my first Indian scalp massage this week.

Self-care has been a major priority for me, and it's really paying off.

Look, I'm almost 10 pounds down without dieting! 🙂

Pink line on chart tracking weight

Related:

Credit Cards

I've been sitting on a big batch of credit card travel points (100,000+).

I'm saving for the perfect travel opportunity. Morocco? Columbia? Who knows! It's possible they will continue to accumulate until I'm done with the CFP exam.

Related: 

Cash

I'm slowly working toward my $15,000 cash emergency fund goal. I would also like to start an emergency fund specifically for my home. Because—let's face it—owning a house can be really expensive.

Related:

Investments

My investments have been pretty boring, which is exactly what I want.

I try not to think about them on a monthly basis.

I'll be looking at other retirement account options once I've completed my tax class.

Home Value

It's spring time and that means an uptick in home sales in my area.

It also means we're inching closer to Nashville's property tax reassessment.

My district's home values have increased by 45% over the past four years.

I've calculated the difference assuming my home will be assessed around $300,000.

I'm facing an annual property tax increase from $1,919.30 to $3,387.00.

I'm currently paying $159.94 per month. My tax bill will increase to $282.25. My boyfriend and I split the mortgage, so we'll each be paying $141.12 more per month.

I wrote about this in more detail for Nashvillest here.

2017 Financial Goals

Here's a quick recap of this year's financial goals:

  1. Max out Roth IRA – $5,500 – complete
  2. Max out HSA – $3,400 – complete
  3. Build emergency fund to $15,000 – in progress

Readers: What are your money goals for quarter two? 

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Discussions — 11 Responses

  • Tonya@Budget and the Beach April 18, 2017 on 8:14 am

    Nice! You’re net worth increased even with being in school! That’s awesome! 100,000 points! I’m so jealous! Savor it and then maybe when your classes are done go somewhere fabulous?

    Reply
  • Fervent Finance April 18, 2017 on 8:16 am

    Hi Kate. I’ll be in Dallas as well for the XYPN conference. I’ve told myself, after that I need to decide if I really want to start my own RIA or not. I passed the Series 65 in March, so all I really need to do is start if I decide I want to.

    I went to a local FPA and was less than impressed. Some people didn’t even know what fee only meant and were more about figuring out how to make the most money off their clients rather than helping them out. Not sure I’ll go back. I’ve heard much better things about NAPFA, but due to my location pretty far away from a major city, I don’t think they have meetups in the area. So right now I get my fill from the XYPN podcast and Kitces’ podcast. Best of luck with the CFP.

    Reply
  • Brian April 18, 2017 on 11:44 am

    Looks like a great quarter! A nice balance between life/work/school and you’ve increased your net worth. Nice job. Tax bill is taking a hit. Nice to have the additional equity though.

    Reply
  • Ms. Montana April 18, 2017 on 12:20 pm

    I love the big picture balance of your goals! And it’s great that you are making progress on all fronts! I’m still in the process of losing the last of the weight I gained from having our last baby. I’m trying to be kind to myself. It was REALLY hard to get new pictures for my blog when I don’t quite feel like myself yet. But…I can’t postpone life until I’m in my normal weight range. FinCon is my target date. I want to feel like the normal me, before I meet everyone for the first time!

    Reply
  • Stephanie Crawford April 18, 2017 on 4:35 pm

    Oh, I’m going to get one of those had massages! I’ve never heard of that.

    Reply
  • Graham @ Reverse The Crush April 19, 2017 on 6:44 am

    Thanks for sharing the report! Looks like you had a great quarter. I like my investment portfolio to be boring too. It’s not that fun to explain your holdings to someone, but it’s without a doubt the more successful way to invest. Also, I recently simplified my focuses for the year as well. It’s a great feeling to really have a clear idea what you’re working towards. Best of luck with the remainder of 2017.

    Reply
  • Chonce April 24, 2017 on 10:13 am

    Such an awesome and inspiring net worth post! CONGRATS on such an amazing quarter!

    Reply
  • FinancePatriot April 25, 2017 on 3:42 pm

    That’s interesting about the property taxes. You can always try appealing them, there were errors in the WilCo information when my house was built, and it’s since been corrected and that helped our assessment go down.

    Glad to hear you had a good month, congratulations.

    Reply
    • CathyS FinancePatriot April 26, 2017 on 3:32 pm

      Good idea about appealing the assessment. I know quite a bit about that and it can be easier than you think.

      Reply
  • Project2035 April 29, 2017 on 6:15 am

    Nice post. I’m planning to calculate Net worth my self. It’s nice to see how much we worth 🙂 Im gessing something around 20-30kEUR. Nothing compared to yours +270kEUR

    Reply