April Net Worth

Cash:
6,362

Roth IRA Basis:
8,631

401k:
Contribution Basis: 4,881
Company Match: 4,881
Total: 9,762

Pension:
$686

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
45,941 (+974)

“Liquid” Assets (cash, stock and retirement):
25,755

Liabilities

Chase Freedom:
0

Chase Unlimited:
588

American Express:
0

Bank CC:
21

Student Loan:
Balance: 11,829 (-501)

Total Liabilities:
12,438 (-136)

Net Worth:
+33,503 (+1,110)

Credit Score:
Credit Karma scores:  788 TU / 757 Equifax
FICO score:  765
Chase Transunion: 788

Monthly notes:
– Capped off one more student loan!  Now down to the final high-interest loan (6.55 @ 7.3k) and a moderate interest loan (3.1 @ 4.5k).
– Credit scores took a dip due to a hard inquiry about a potential opening of a HELOC.  Grrr!  Don’t have enough equity yet in the home – need approx. 10% and we are at around 7%.
– CC balance will be paid in full.  This was a piece of furniture the fiance and I were saving up for for 5 weeks and now have enough to pay it off!

September Net Worth

Cash:
4,836 (+122)

Roth IRA Basis:
6,783 (+250)

401k:
Contribution Basis: 3,259
Company Match: 3,259
Total: 6,518 (+430)

Motorcycle:
3,500

Car:
1,500

Truck (Value 5,000):
200

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
31,737 (+802)

“Liquid” Assets (cash, stock and retirement):
18,137 (+802)

Liabilities

Chase Freedom:
0 (-4)

Chase Unlimited:
22 (-278)

American Express:
7 (-54)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (173 Principal / 105 Interest)
Balance: 22,785 (-169)

Truck Loan:
4,800

Total Liabilities:
27,649 (-505)

Net Worth:
+3,583 (+802)

Monthly Income: 3,045
Monthly Assets Change: 802
Monthly Liabilities Change: -505
Monthly Net Worth Change: +802
Mortgage Principal Paid: 261
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 1,341 (44%) x .55 = 24(All expenses are shared jointly, me @ 55%, Fiance @ 45%)

Credit Score:
Credit Karma scores:  743 TU / 736 Equifax
FICO score:  745

 

Another average month in the books here.  Credit took a big hit due to the opening of the auto loan, which is not a huge deal.  I will recover from that quickly enough!  401k is slowly but surely catching up to that IRA amount!  Cool to see that.  Forseeing some big income changes in the near future as a promotion at work is nearing.  All part of “The Plan”!

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!

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.