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Our Spending Habits in June

June 2010 Spending

June 2010 Spending

The big event in June was our (working) vacation in Los Angeles. Attending E3 was fabulous and quite an experience. I'm so excited about games coming out, such as The Old Republic,Spiderman: Shattered DimensionsRockband 3, and The Force Unleashed 2.

Nintendo's 3DS is much better than I anticipated and I'm already budgeting for its release (along with games mentioned). We're also looking at Kinect for our XBox.

If you're looking for a recap of our trip, here are some of my posts on it.

I know, I know…I need to go ahead and finish up with the 3rd day of E3,but I've been busy. I'll update it as soon as I can.

Looking at our spending, you'll see that eating out was a big expense this month. We're not too worried as this was a planned trip. Next month, though, we'll be looking for creative (and cheaper) ways to eat out.

Checking & Savings

Our checking account took a small beating. We had a lot of fun in California and we spent money during the trip. We're frugal people, but we know that sometimes you spending money on experiences is the way to go. Our saving accounts did well and managed to grow a bit.

As for our tax refund, we're still waiting for it. Long story short, we didn't deposit it correctly and so we're waiting to receive our digital copy to get the money into our accounts. Once we get that check, we're increasing our savings (I think it'll probably go in the car replacement fund) and we're paying down our mortgage.

Auto Property

No change with our cars. In case you’re wondering how I got the numbers I recorded in the spreadsheet, I’ve got the prices from Kelly Blue Book. We no longer have car loans, so they are assets.

Every quarter I’ll update them to account for depreciation. I went to Kelly Blue Book this month and new amount reflects the depreciation. If you’re looking for tips on paying off your car loan faster, we shared our own family plan for getting it done.

Retirement Accounts

There's not too much to update here. Our retirement accounts are down a bit, but nothing alarming. We just have to ignore all the hype and noise and just keep up with contributions.

House and Mortgage

We’re really happy to see our mortgage balance go down a bit faster with every month. We’ve been making our extra mortgage payments, with it being directed towards the principle.  With the tax refund check problems, we're still waiting to knock it down by a good chunk.

Here’s where we stand today with the mortgage:

  • Total Loan Amount: $122,033
  • Interest Rate: 5.00%
  • Loan Term: 30 years, fixed rate

If we continue to pay $150/month extra towards principle, our 30 year mortgage will become a 20 year mortgage. That means we’ll save $42,408.57  in interest payments!

Student Loans

Like the past few months, we’re chugging along with the student loan payments. Payments have been automated so it’s been relatively easy; we just confirm payments have been made each month.

Monthly Summary

After tallying up all the accounts, we saw our net worth go down (for the 2nd month). No one likes to see it go down, but it wasn't by much. With our little spending spree done, I think next net worth review will be much better.

Net Worth (as of June 3oth, 2010): $23,691.54 (-$723.38)

Your Net Worth Update

How are you doing with your finances? How are you doing in 2010 so far?

About Elle Martinez

Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..

6 comments add your comment

  1. So tell me, did you enjoy California or what?! I’m frankly partial to the Bay Area (SF) over SoCal, but that’s just me.

    BTW, there aren’t any links to your E3 reviews.

    Best, Sam

  2. I did enjoy our trip to California; I think having wonderful friends who lived there locally helped tremendously. It made the experience even better. I’m hoping to go back. Ideally i’d like to fly to LA, rent car and drive up the Pacific Coastal Hwy up to San Francisco, and take a flight home from there.

    Thanks for the heads up Sam. I did change the formatting a bit, but I checked and the links worked for me.

  3. Sounds like you enjoyed your trip to California :)

    I haven’t quite finished calculating my net worth yet for June, but from what I can tell so far it’ll probably be about even or maybe down a little. Retirement accounts have definitely taken a hit though.

  4. Wow, wow, wow. You’ve got a 30 year fixed rate mortgage? In Australia the longest you can fix a rate for is 5 years and if you fix your rate you can’t make extra payments! My 2010 is going terribly i bought a fixer upper but the problem with fixer uppers is that you have to spend money on them which is bad for my spending

  5. @Jackie: It was a lot of fun in CA! I hope you net worth review goes well.

    @Ben: I’m sorry to hear about your fixer upper. Hopefully it’ll get better. Interesting to hear how other countries handle mortgages!