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!

2,639+100 = 2,739

Roth IRA Basis:

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



Personal Assets:

Total Assets:

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


Chase Freedom:

Amercan Express:

Bank CC:

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

Total Liablities:

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)

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

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

CC Cash Back:
+16 Chase, +8 AmEx


1,500 (-100)

Personal Assets:
5250 (+200)

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

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


Chase Freedom:
12 (-102)

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

Bank CC:

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!