Let's do a recap on my 2023 goals.

1.       Increase Net Worth

My net worth went up $30,038 in 2023! Mostly market gains but I'll take it.

2.       Save $1,000 Extra in HSA

I was able to do this as well! 

3.       Save $3,000 in IRAs

Front-loaded this with my tax return.

2024 Goals

I am still a bit undecided on my goals for this year but here is what I am currently thinking

1. Save $3,000 in IRAs

2. Save $2,500 in EF

3. Get & keep both checking account buffers at $1k each

That is is total of around $7,000 in savings. Which will be hard. But I really want to work on building up our cash this year. Especially if we want to do home projects anytime in the near future. 

Cash/Liquid Savings:

$1,034 Animal Fund ($1,686)

$4,898 Escrow Fund ($6,042)

$2,056 Checkings ($2,062)

$240 Car Fund ($20)

$1,740 HSA ($1,119)

$9,968 Total Liquid Savings ($10,929)

Retirement:

$59,560 DH's 401K ($42,860)

$6,171 DH's IRA ($5,050)

$23,104 My IRA ($16,122)

$88,835 Total Retirement ($64,032)

Liabilities:

-$112,931 Mortgage (-$115,833)

-$8,389 Land Loan (-$10,861)

-$441 Hospital Loan (-$1,263)

-$121,761 Total Liabilities (-$127,957)

Assets:

$185,000+ House
$20,000 in Cars (not counted in figures)

2023 Total Net Worth: $162,042 ($132,004)
2023 Net Worth without Mortgage & House: $89,973 ($62,837)

Numbers in () are 2022 figures for comparison.

This year was MUCH better than last year, especially as far as market growth. Cash is a bit down, but we did well saving for retirement. The interest on our debts is so low we haven't paid any extra and probably won't.

Hoping to save this year for some home projects again, and just try to keep our expenses down so we can build up more cash. I feel like we have been riding too close to the line and it's stressing me out. 

Hoping this is the year we break $100k in retirement.

Debts

Mortgage -$112,930.59 (-$240.85)
Land Loan -$8,583.04 (-$195.08)
Hospital Bill -$441.41 (-$75)

Savings

Roth IRAs +$29,275 (+$1,540)
401K +$59,560 (+$3,554)
Emergency Fund +$6,267 (-$515)
Animal Fund +$1,035 (+$4)
Car Fund +$240 (+$0)
HSA +$1,740 (+$107)

Overall: +$5,200.93

Another big market increase month.

I ended up pulling a little money from the EF to cover a few expenses by the end of the year. I'm hoping in 2024 we can increase our savings instead of continuing to pull from it.

I'm happy that we managed to not take on any new medical debt this year, and it looks like my husband's insurance made a few changes for 2024 which will be in our favor. Previously we had just a family deductible which was $3,700 & OOP was $7,400 I think. Now they have changed it so each individual has a $1,850 and $3,700 OOP max with the total family staying the same as well. This should help us cut costs tremendously since I am the one who usually has the highest medical bills each year. I was worried I would have to upfront $7,400 in February when my next lung & heart surgery is rescheduled for, but now I should only have to pay a max of $3,700. That is a big difference.  

I will make other posts with my year in review and goals for next year.