July Net Worth

Cash:
5,800

Roth IRA Basis:
9,681

401k:
Contribution Basis: 5,685
Company Match: 5,685
Total: 11,370

Pension:
$695

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
48,046 (-2,537)

“Liquid” Assets (cash, stock 401k, IRA):
26,851

Liabilities

Chase Freedom:
0

Chase Unlimited:
350

American Express:
0

Bank CC:
0

Student Loan:
Balance: 10,783 (-280)

Total Liabilities:
-11,133

Net Worth:
+36,913 (-2,557)

Credit Score:
Credit Karma scores:  780 TU / 762 Equifax
FICO score:  770
Chase Transunion: 780

  • Spent quite a bit this month both on windows ($3,200) for the house and two weekend trips to some big cities which doesn’t happen often, but ended up being around $650 total.
  • One of the major house projects out of the way (windows), but still on track to save and spend on another big project, siding.
  • Retirement account current values total over $24k right now which is an awesome number to see!  The market has been great to me these past few years.  I expect it to correct down the road, and volatility is the reason I show cost basis only in my totals.

June Net Worth

Cash:
9,100

Roth IRA Basis:
9,381

401k:
Contribution Basis: 5,455
Company Match: 5,455
Total: 10,910

Pension:
$692

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
50,583 (+4.022)

“Liquid” Assets (cash, stock 401k, IRA):
29,391

Liabilities

Chase Freedom:
0

Chase Unlimited:
0

American Express:
49

Bank CC:
0

Student Loan:
Balance: 11,063 (-315)

Total Liabilities:
-11,112

Net Worth:
+39,471 (+4,288)

Credit Score:
Credit Karma scores:  779 TU / 759 Equifax
FICO score:  797
Chase Transunion: 779

  • Saved hard for the house projects this month, and got a small boost from the remainder of an insurance check.
  • Got approved for the Chase Sapphire Preferred with a balance of $12k.  I will get $500 back towards the projects when I get those purchased!

May Net Worth

Cash:
6,222

Roth IRA Basis:
8,931

401k:
Contribution Basis: 5,111
Company Match: 5,111
Total: 10,222

Pension:
$686

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
46,561 (+ 620)

“Liquid” Assets (cash, stock 401k, IRA):
25,375

Liabilities

Chase Freedom:
0

Chase Unlimited:
0

American Express:
35

Bank CC:
0

Student Loan:
Balance: 11,343 (-486)

Total Liabilities:
11,378 (-1060)

Net Worth:
+35,183 (+1,608)

Credit Score:
Credit Karma scores:  782 TU / 750 Equifax
FICO score:  765
Chase Transunion: 782

  • Paid off a $550 sectional and $240 floor this month, so not as much cash gain as normal.
  • Got $5,000 emergency fund into 1.05% Ally Savings account – a lot better than the .05% from the credit union!
  • Going to try to save hard the next couple months to support a couple big house projects – windows and a fence.  May also open a new CC (Chase SP has a $500 offer) to get some cash back on this as well.

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!

March Net Worth

Cash:
6,150

Roth IRA Basis:
8,331

401k:
Contribution Basis: 4,651
Company Match: 4,651
Total: 9,302

Pension:
$684

Motorcycle:
3,000

Truck:
4,500

Mustang:
1,000

Personal Assets:
12,000

Total Assets:
44,967 (+387)

“Liquid” Assets (cash, stock and retirement):
24,467 (+387)

Liabilities

Chase Freedom:
0

Chase Unlimited:
177

American Express:
43

Bank CC:
24

Student Loan:
Balance: 12,330

Total Liabilities:
12,574 (-626)

Net Worth:
+32,393 (+1,013)

Credit Score:
Credit Karma scores:  790 TU / 767 Equifax
FICO score:  771
Chase Transunion: 790

The Plan: Phase Three

It’s been a heck of a time these past few months!  I have been busy working and hibernating (winter time), but some exciting new developments and changes have boosted my net worth.  I plan to get back on track and get more consistent updates going again.

First off: THE PLAN!  Remember a post a long time ago when I was laid off and looking for work?  When I wanted to get myself to a level where I know my skillset will be utilized?  To not just have a job, but start a career?  How I wanted to get myself a higher level of income to achieve my goals, ultimately: Financial Freedom?  It has proceeded to another step, and I was able to be promoted again at work!

About three years ago I was laid off and on unemployment… I found a temp job and income was around $26k.  They decided to hire me full-time, and then I was sitting at around $33k a year income in a manual labor position.  A year into that I got a small promotion to a more office-environment job, and the income went up to around $40k a year.  A few months ago I was awarded with another promotion, and my new income is sitting at around $59k a year!  Woot!

Through nothing but hard work and dedication over the past three years, I was able to more than double my income.  NICE!

On to the next exciting development, I was the recipient of a small windfall recently.  A dear friend of mine (he’s about 80) taught me about the stock market long ago.  He is substantially wealthy, and one day we put together stock portfolio as part of a lesson / showing me the ropes.  Over the course of 4-5 years, we let the portfolio sit and we observed, made trades, and rode the roller coaster.  Recently we decided to call it quits.  In the end, the portfolio had gained around 25%.  He is a kind enough man that he decided to gift me the capital gains (after all fees and taxes) so I could use it to pay off debt.  How cool is that?  For now, the windfall was around $13k.  There is potential for more coming in 2017, as the capital gains were around $25k.

I did exactly what he wished: used that stuff to build myself up and pay off those debts!  The $4,500 truck loan is GONE!  My student loan has taken a near $9,000 reduction!  I was also able to beef up my emergency fund to around $5,000 – a number I feel good with that – my Roth can be a second $8k emergency if it’s life or death.  Thanks to this friend’s generosity and our trust in each other, I have been able to make a huge dent in my debt and increase my net worth by thousands.  Now, on to the newest numbers!

Cash:
6,600 (+2,300)

Roth IRA Basis:
8,030 (+1100)

401k:
Contribution Basis: 4,400
Company Match: 4,400
Total: 8,800 (+2038)

Pension:
$650

Motorcycle:
3,000 (-500)

Truck:
4,500 (+4,200)

Mustang:
1,000

Personal Assets:
12,000 (reworked, +4,600)

Total Assets:
44,580 (+15,079)

“Liquid” Assets (cash, stock and retirement):
24,080 (+6,192)

Liabilities

Chase Freedom:
0

Chase Unlimited:
0

American Express:
0

Bank CC:
35

Student Loan:
Balance: 13,200 (-9,422)

Truck Loan:
0 (-4,700)

Total Liabilities:
13,200 (-14,250)

Net Worth:
+31,380 (+28,679)

Credit Score:
Credit Karma scores:  767 TU / 759 Equifax
FICO score:  773
Chase Transunion: 767

*mic drop*

October Net Worth

Cash:
4,256 (-580)

Roth IRA Basis:
6,933 (+150)

401k:
Contribution Basis: 3,381
Company Match: 3,381
Total: 6,762 (+244)

Motorcycle:
3,500

Car:
0 (-1,500)

Truck (Value 5,000):
300 (+100)

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
30,151 (-1,586)

“Liquid” Assets (cash, stock and retirement):
17,951 (-186)

Liabilities

Chase Freedom:
0 (-4)

Chase Unlimited:
0 (-22)

American Express:
93 (+86)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (166 Principal / 112 Interest)
Balance: 22,622 (-163)

Truck Loan:
4,700

Total Liabilities:
27,450 (-199)

Net Worth:
+2,701 (-882)

Monthly Income: 1,778
Monthly Assets Change: -1,586
Monthly Liabilities Change: -199
Monthly Net Worth Change: -882
Mortgage Principal Paid: 263
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 355 (20%) x .55 = 11(All expenses are shared jointly, me @ 55%, Fiance @ 45%)

Credit Score:
Credit Karma scores:  746 TU / 739 Equifax
FICO score:  752

Definitely a tough looking month here!  But with some good news as well.  I was promoted at work, and that was the next step in The Plan!  As a result, my pay switched to bi-weekly, so I essentially missed $570 of savings.  My savings rate would be more like 22%.  Going forward, I may have some wonky looking months since I my pay will be bi-weekly, but it should balance out the following month!

I did some naughty spending this month, including an anniversary gift of around $200 and a trip north with the fiance costing around $600 as well in fun, food and shopping.  However, with the new promotion and getting my new routines back in place, I should be coming out on top.  There is some debt I am not tracking due to a joint effort by fiance and I to pay off (8 new tires, exciting!), so the cash savings may be lower than normal, but a few months from now everything should be settled and on the way to glory!

I sold the car, but a large chunk went to the ridiculous spending from this month.  Another bit of it disappeared due to paying the Joint account but not getting paid last week, resulting in a ~$425 deficit.  So – this month there was some lack of discipline but also lack of income stability, so it was a rough one all around.  Next month should be looking better!