I love November. Usually it is the height of fall in the DC region and it also kicks off the start of the holiday season. I love seeing my family and spending time with them, and Thanksgiving is the first opportunity we’ve had in several months to do that. Additionally, this Thanksgiving was extra special because it was the first time many of my family members got to meet NFF Jr.
Financially, November was an ok month for us. Mrs. NFF is not back at work yet, and her limited maternity leave policy meant we went this month without any income from her. Maternity/Paternity policies in the US are truly f***ed up. We are fortunate that Mrs. NFF could take 3 months off work (half of it unpaid) and be ok, but I can’t image how the millions of other families in the US deal with it.
With the decrease in our income this month, we still managed to grow our net worth by $9,746. Most of the gains (~$6,200) came from contributions to our 401k and increases in the stock market. We still managed to save ~$3,000 out of my paycheck this month, which I was pleased about, as we keep pushing towards our house fund goals.
Emergency Fund: Still no changes to this account. Just patiently waiting for the day it’s needed (which hopefully never comes).
Working Capital: Our personal spending was much better this month compared with last month. The additional $147 is a function of us spending less out of our personal accounts than went into them.
Related Article: Managing Our Finances as a Couple
Down Payment: Despite a smaller salary this month, we were still able to contribute ~$3,200 to our down payment fund. A lot of this was due to spending Thanksgiving with my family, as that always cuts down on our food and entertainment budgets for the week. My mother is a great cook so we get to enjoy gourmet meals at no cost to us. We are fast approaching our goal of $150,000 which I am very excited about. We still have a few more months before our yearly bonuses are paid out, but I’m hoping those will push us to our goal by February or March.
Education: We haven’t contributed to NFF Jr’s 529 account, and probably won’t until our house is saved for. Therefore, all of the gains this month are from stock market returns. We still have a large cash balance, so I’m looking forward to January 1st to change that.
Retirement: Since my wife hasn’t had a paycheck in 8 weeks, our contributions have been lower than normal. Luckily we planned for that, and both of our contributions at year end will be pretty close to $18,000. This month, however, has meant lower contribution amounts, buoyed by strong stock market returns.
How was your November? Did you have a nice Thanksgiving?