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!

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*

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”!

August Net Worth

Cash:
4,664+50 = 4,714 (+352)

Roth IRA Basis:
6,533 (+200)

401k:
Contribution Basis: 3,044
Company Match: 3,044
Total: 6,088 (+338)

Motorcycle:
3,500

Car:
1,500

Truck (Value 5,000):
200

Mustang:
1,000

Personal Assets:
7,400

Total Assets:
30,935 (+1,090)

“Liquid” Assets (cash, stock and retirement):
17,335  (+890)

Liabilities

Chase Freedom:
4 (+4)

Chase Unlimited:
300

American Express:
61 (-26)

Bank CC:
35

Student Loan:
Paid on loan: 278.16 (157 Principal / 121 Interest)
Balance: 22,954 (-169)

Truck Loan:
4,800

Total Liabilities:
28,154 (+4,909)

Net Worth:
+2,781 (-3,819)

Monthly Income: 2,406
Monthly Assets Change: 1,090
Monthly Liabilities Change: +4,909
Monthly Net Worth Change: -3,819
Monthly Savings Rate (IRA/401k+Match/Cash/StudenLoan/MortgPrincipal): 1,472 (61%) x .55 = 34(All expenses are shared jointly, me @ 55%, Fiance @ 45%)

Credit Score:
Credit Karma scores:  764 TU / 753 Equifax
FICO score:  739

Tough month this month, as we did quite a bit of landscape work, I bought a truck, and have yet to sell the car.  When I get the car sold, there’ll be another $1,500 in the bank to help offset some of the cost.  We decided it’d just be good to go back to a solid truck, as we were borrowing folks’ trucks every other week for stuff.  That, or we were loading up my car for 3-4 trips to the hardware store for landscape rocks.

My plan is to of course pay off that truck ASAP, as it’s the highest interest.  It’s got some low miles, and I was able to snag it under Blue Book value, so I feel comfortable with the purchase.  It’s got a solid body for being a 2001, and low miles at high 90’s.  Hopefully she’ll last us a good three or four years before the repairs become too great to justify keeping it!