February Update – Net Worth +2.2%

I’m not entirely sure why February was so busy but it really ended up busier than I expected it would have. The month just seemed to melt away day by day and all of a sudden we’re into March. From a financial perspective this month was very similar to last month in that our net worth increased a bit, only 2.2% this month but it is about what I expected. The main difference is last month a significant portion of largest mortgage was applied to principle rather than interest. While I’m not sure why this occurred it definitely helped to increase last months net worth increase.

Overall we were able to get a bit more caught up on our bills and payments. The spending adjustments we made last month carried through and we were able to cut back on variable spending. With a bit of planning we have lowered our weekly grocery bill by about 10-15% and I think there is still a bit of room for improvement.

I’m also starting to see the benefits of this weekly tracking and monthly budgeting in that I know what the magic number is for us each month. The magic number being the cost that would keep us living below our means. I’m getting more and more encouraged that being careful with our funds and diligent about paying down debt will bear fruit sooner rather than later.

Aside from the net worth increase I’m quite happy that we’ve been able to pay off close to $600 on one of our credit cards since the beginning of the year. This is definitely a step in the right direction.

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