July Net Worth

Cash:
4,312+50 = 4,362 (+170)

Roth IRA Basis:
6,333 (+200)

401k:
Contribution Basis: 2,875
Company Match: 2,875
Total: 5,750 (+382)

Motorcycle:
3,500

Car:
1,500

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
29,845 (+752)

“Liquid” Assets (cash, stock and retirement):
16,445 (+752)

Liabilities

Chase Freedom:
0 (-0)

American Express:
87 (+49)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (171 Principal / 107 Interest)
Balance: 23,123 (-161)

Total Liabilities:
23,245 (-112)

Net Worth:
+6,600 (+864)

Mortgage Breakdown:
Appraisal:  160,000
Loan Balance:  149,075
Equity:  10,925
July Payment:  258 P / 482 I / 311 E = 1,051

Monthly Income: 2,688
Monthly Assets Change: 752
Monthly Liabilities Change: -112
Monthly Net Worth Change: +864
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 1,288 (48%) x .55 = 26(All expenses are shared jointly, me @ 55%, Fiance @ 45%)

Credit Score:
Credit Karma scores:  755 TU / 749 Equifax
FICO score:  739

Decent month for July.  I definitely came out low on cash savings, but 401k and Roth were consistent, not to mention another consistent student loan payment.  This month, we spent a lot of cash on landscape materials for the house, about $150 total.  I also had to buy a new power supply unit for my computer that cost $60 – it couldn’t run without replacing it.  Not to mention the dog’s haircut and a new pair of sunglasses (I lost a pair I just bought last month) for another $50.  We also had a nasty vet bill, costing us each $50.  I still managed to come out ahead, so that’s a plus!

This month was also a big deal because we got engaged!  We are one step further in our relationship, and are preparing to get married in about a year’s time.  She is the best, and I couldn’t ask for a better partner in life.  She is also a good  help with the finances – she pays her fair share of all shared costs, including retirement, utilities, food and the big ones like mortgage and student loans.  We are looking forward to a bright future!

It was cool to see how my 401k and Roth IRA are growing.  After looking at the monthly balances, they were both over 6,000 (market price) which was pretty cool to see!  Just a couple years ago I had no 401k and my Roth IRA had just started with the $1,000 minimum.  It’s easy to see if we continue down this path, along with putting nearly $500 a month towards student loans (hers and mine), we are setting ourselves up for success down the road.

June Net Worth

Cash:
4,092+100 = 4,192 (+1,159)

Roth IRA Basis:
6,133 (+250)

401k:
My Contribution Basis:2,684
Company Match: 2,684
Total: 5,368 (+444)

Motorcycle:
3,500

Car:
1,500

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
29,093 (+1,853)

“Liquid” Assets (cash, stock and retirement):
15,693 (+1,853)

Liabilities

Chase Freedom:
0 (-4)

American Express:
38 (+21)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (159.25 Principal / 118.91 Interest)
Balance: 23,284 (-174)

Total Liabilities:
23,357 (-157)

Net Worth:
+5,736 (+2,010)

Mortgage Breakdown:
Appraisal:  160,000
Zillow Estimate:  173,000
Acting Appraisal:  166,500
Loan Balance:  149,332
Equity:  17,168
June Payment:  256 P / 483 I / 311 E = 1,050

Monthly Income: 3,128
Monthly Assets Change: 1,853
Monthly Liabilities Change: -157
Monthly Net Worth Change: +2,010
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 2,387 (76%) x .55 = 42% (How is this number calculated?  All expenses are shared jointly, me @ 55%, GF @ 45%)

Credit Score:
Credit Karma scores:  757 TU / 750 Equifax
FICO score:  742

Solid month this June!  A couple of fun outings net met a few hundred extra in cash, plus a full return on deposit from our rental!  On top of that, we recieved a rent credit as well for moving out early the final month.  This month was definitely a good one for excess cash!  Nothing of partiuclar note otherwise, just going to continue chugging along.  Life is good – I’ve got a job that pays enough for me (and my GF) to pay all the bills, sock some extra away for retirement, and still save a bit/spend a bit on top of that.  Off to enjoy Independence Day!

May Net Worth

Cash:
2,933+100 = 3,033 (+294)

Roth IRA Basis:
5,883 (+200)

401k:
My Contribution Basis: 2,462
Company Match: 2,462
Total: 4,924 (+346)

Motorcycle:
3,500

Car:
1,500

Mustang:
1,000 (+1,000)

Personal Assets:
7,400 (+100)

Total Assets:
27,240 (+1,940)

“Liquid” Assets (cash, stock and retirement):
13,840 (+840)

Liabilities

Chase Freedom & Unlimited:
4 (-5)

American Express:
17 (+17)

Bank CC:
35 (+8)

Student Loan:
Paid on loan: 278.16 (165.89 Principal / 112.27 Interest)
Balance: 23,458 (-156)

Total Liabilities:
23,514 (-136)

Net Worth:
+3,726 (+2,076)

Mortgage Breakdown:
Appraisal:  160,000
Zillow Estimate:  173,000
Acting Appraisal:  166,500
Loan Balance:  149,590
Equity:  16,910
May Payment:  255 P / 484 I / 311 E = 1,050

Monthly Income: 2,443
Monthly Assets Change: 1,940
Monthly Liabilities Change: -136
Monthly Net Worth Change: +2,076
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 1,373 (56%) x .55 = 31% (How is this number calculated?  All expenses are shared jointly, me @ 55%, GF @ 45%)

Credit Score:
Credit Karma scores:  767 TU / 757 Equifax
FICO score:  758

Alright!  May was a kind of a tough month for us, but relieving as well!  We paid off our final extra rent payment, and will pay of the final utility bill this month.  That was a burden on our shoulders, but we got through it and now it will no longer be looming over us.  The initial deposit was $950, and we should get a rent reimbursement of around $260, plus hopefully a good chunk of the deposit back as well.

As an added boost to the assets this month, I brought the old Mustang up to the garage from my parents, and am working on it.  It’s been mine for years, but just has been sitting in their garage.  Some of my extra money (whenever I get any!) will be going towards restoring this.  This project is more to learn mechanical skills with cars than to make money – I’ll probably spend more in economy parts than it’ll be worth in the end, but the skills I learn will be invaluable!

April Net Worth

I’m getting back on track with my net worth tracking.  With the purchase of a house and several month’s waiting, I am just going to put the current balances out there without comparison to month’s before.  I am also going to omit a few tedious things like capital gains tracking for the IRA & credit card cash back.

Lil’ Sizzlers Portfolio:
0.00 – No longer exists!

Cash:
2,639+100 = 2,739

Roth IRA Basis:
5,683

401k:
My Contribution Basis: 2,289
Company Match:  2,289
Total: 4,578

Motorcycle:
3,500

Car:
1,500

Personal Assets:
7,300

Total Assets:
25,300

“Liquid” Assets (cash, stock and retirement):
13,000

Liabilities

Chase Freedom:
9

Amercan Express:
0

Bank CC:
27

Student Loan:
Paid on loan: 278.16 (161.38 Principal / 116.78 Interest)
Balance: 23,614

Total Liablities:
23,650

Net Worth:
+1,650 – WOOT!!!

Mortgage Breakdown:
Appraisal:  160,000
Zillow Estimate:  173,000
Acting Appraisal:  166,500
Loan Balance:  149,845
Equity:  16,655
April Payment:  254 P / 485 I / 311 E = 1,050

Monthly Income: 2,502
Monthly Assets Change: N/A
Monthly Liabilities Change: N/A
Monthly Net Worth Change: N/A
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan): N/A

Credit Score Update:
Credit Karma scores:  764 TU / 758 Equifax
FICO score:  758

What a change!  I am finally a “homeborrower”, and proud of it!  The past few months were a ride, see below’s post for more details.  I am pretty much where I left off back in December, which is good considering I added a house to my inventory, and paid 3 months extra rent and utilities for the rental.  Girlfriend definitely helped with that by contributing around $1,000 of her tax return.

Also, WOO-HOO on finally hitting positive net worth!  Of course, if you consider the mortgage, it’ll be another 15 years before that would happen.  However, it’s neither here nor there & I decided to keep it seperate.  Added quite a bit to the personal assets category with the new home purchase, including a large TV, used riding lawn mower, tools, fancy TV stand and other home items.

Going forward, I will leave the mortgage seperate from the net worth details.  I’ll provide a monthly breakdown of it at the bottom of each list to track the steady progress.  I am happy to see that with the interest rate I got and down payment, we are able to make an immediate dent in the principal amount of the loan.

I’m Back (With a new purchase!)

Wow – it’s been a bit of a rollercoaster these last several months.  I decided not to post monthly updates due to huge fluctuations in my cash amounts, selling the taxable account, and just due to time constraints.  The big deal is: I bought a house!  I am now officially a homeborrower.

I saved hard, worked lots of overtime, sold the taxable account, got a nice tax refund, and added a bit of my girlfriend’s tax refund, to save up for a 5% down payment.  On top of the down payment, we had to reserve three whole months of rent payments due to the rental company not being able to cancel or reduce our rent for the house sitting vacant.  Well, yesterday was that final rent payment and we are back on track!

All-in-all, we had to pay four extra months of utilities, and three extra months of rent (although one was pro-rated) on top of the new mortgage payment.  With my girlfriend’s help, and an unexpectedly low closing cost, we were able to get it done.  Now we’re back on track for a more steady outlook!
Extra rent payments:  $2,365
Extra utility payments:  $590
Total extra payments (I’m crying in pain):  $2,955
Funny how that almost adds up exactly to the surplus shown below!

Here’s a breakdown of what the house transaction looked like:
Selling price:  155,000+3,000 = 158,000 (3,000 was “closing costs”)
Down payment:  $7,900
Total loan:  150,100
Loan Interest Rate:  3.875% – this includes lender paid Mortgage Insurance so I’ll never have to pay PMI!
“Cash to Close”:  $5,035
Surplus saved:  $2,865 (down-payment minus cash to close)

The official appraisal was $160,000, so we are right on track!  The Zillow estimate puts it at $173,000, so we are definitely in a good spot right now!  Depending on the value you use, that puts me at $10,500 to $23,500 in equity.  That’s definitely a good place to start.

House Stats:
Built: 1980
Finished SF:  1,960
Lot:  .45 acres
Style:  Ranch
Bedrooms:  3
Bathrooms:  2
Basement:  Full, part finished
Garage:  Oversized 2-stall (572 SF)
Upgrades/extras:  Roof 2010,  A/C and furnace 2008, stainless appliances, washer/dryer included, standing freezer, extra 2-door fridge.

December Net Worth

Lil’ Sizzlers Portfolio:
Total Market Value: 447 (-652)
Total Divs: 46.10 (+9.86)

Cash:
3,715+100+420+632 = 4,867 (+2,357)

Roth IRA Basis:
5,225 (+190)

Roth IRA Cap Gains/Divs:
-241 Gains 12/31
+46 2014 DRIP
+94 2015 DRIP
Total: -101

401k:
My Contribution Basis: 1508
Company Match:  1508
Total: 3,016 (+510)

CC Cash Back:
+16 Chase, +8 AmEx

Motorcycle:
3,500

Car:
1,500 (-100)

Personal Assets:
5250 (+200)

Total Assets:
23,728 (+2,085)

“Liquid” Assets (cash, stock and retirement):
13,478 (1,985)

Liabilities

Chase Freedom:
12 (-102)

Amercan Express:
73 (-21) (0%)

Bank CC:
25

Student Loan:
Paid on loan: 50
Balance: 23,902 (+64)

Total Liablities:
24,012 (-59)

Net Worth:
-284 (+2144)

Monthly Income: 3,993
Monthly Assets Change: +2,085
Monthly Liabilities Change: -59
Monthly Net Worth Change: +2,144
Monthly Savings Rate (IRA/401k+Match/Investments/Cash/StudenLoan(No Cap Gains/Divs/CB)): 51% or $2,033!

Blessed month this December, as a lot of things treated me well and fell into place.  Christmas rewarded me with over $330 in cash to deposit, as well as a $200 addition to the personal assets category with some high-quality power tools and a few other quality items.  I was able to utilize 10 hours of overtime per week this month, which added a hefty sum to my savings.  My work allows weekly changing of W4’s, so I changed my last few weeks of the month to claim exempt.  I calculated my estimated tax return and it was well over the $1,500 mark, so I decided to reduce that by exempting the last few weeks to get cash in my pocket sooner!

I have been actively house hunting and am nearly prepared to begin on the journey of homeownership.  I have been able to save aggressively this past month, and hope to do so next month as well, to help pay for the down payment and other fees associated with the task of buying a home.  I plan to deduct whatever else I need out of the IRA, as painful as that may be.  There will be no fees or penaltys for it, and it will allow me to hit the 5% down-payment mark in order to achieve the best rate from my lender.

I also decided to liquidate the Lil’ Sizzlers portfolio over the next few weeks to add to my cash funds for the house.  The portfolio was intended for long-term dividend income, however, I did this before learning how important a large emergency fund and tax-efficient investing was.  I probably won’t rebuild the porfolio after I liquidate it for at least several years, if ever.  In the meantime, my savings will go toward the Roth IRA, 401k or student loan payoff.

I will continue to save hard and watch my spending while working towards this goal.  It’s finally time to stop wasting $950 per month of our money on rent, and have it go towards a forever home that can grow in value and add equity.  I have rented for six years now, and it’s time to finally bite the bullet and take charge of this daunting task.  Tune in next month for further updates!

November Net Worth

Lil’ Sizzlers Portfolio:
Total Market Value: 1,099 (+38)
Total Divs: 36.24 (+3.43)

Cash:
2,001+100+409 = 2,510 (+21)

Roth IRA Basis:
5,035 (+200)

Roth IRA Cap Gains/Divs:
+4 11/30 Gains (+38)
+46 2014 DRIP
Total: +50

401k:
My Contribution Basis: 1253
Company Match:  1253
Total: 2,506 (+340)

CC Cash Back:
+250 AmEx, +7 Chase

Motorcycle:
3,500

Car:
1,600 (-100)

Personal Assets:
5050 (+50)

Total Assets:
21,643 (+811)

“Liquid” Assets (cash, stock and retirement):
11,493 (+861) (250 was CB Reward AmEx)

Liabilities

Chase Freedom:
114 (+59)

Amercan Express:
94 (-318) (0%)

Bank CC:
25

Student Loan:
Paid on loan: 200
Balance: 23,838 (-93)

Total Liablities:
24,071 (-352)

Net Worth:
-2,428 (+1163)

Monthly Income: 2,401
Monthly Assets Change: +811
Monthly Liabilities Change: -352
Monthly Net Worth Change: +1163
Monthly Savings Rate (IRA/401k+Match/Investments/Cash/StudenLoan(No Cap Gains/Divs/CB)): 31% or $761

Fair month this November!  I did a lot of spending for Christmas and birthdays/anniversary, but did recieve my $250 cash back reward from AmEx which is excellent.  I actually also was able to score $35 in credits toward eligible purchases with AmEx as well, so add that to the grand total.  I scored a +1,500 CL increase with Chase, making my total available credit $12,500.  I am going to apply for a 3x increase with AmEx next week and see how that goes!  It could potentially be $22,500 by the end of the month.

The potential for a house is near in the future.  That would hurt the funds, but set me on the right path for increased net worth in the future.  Work is going well, and I am making about a hundred or more per week in my new position.  I am expecting close to $1000 in tax return (via a TurboTax estimator), which will help boost the cash storage and maybe help with the home purchase in the future.  I will continue to cut spending (thanks to the holidays being over soon) and increase savings as much as possible.  Until next month!