Q1 2015 Net Worth Update

I’m baaaack! It’s been almost 3 months since my last post! I’m so late on my monthly net worth updates, so how about we just jump right into it with a Q1 update?

Q1 2015 net worth update

Net worth as of March 31, 2015: $213,014

Overall, my net worth decreased by $6,621 this quarter 🙁

Assets

Cash: $2,907 [down $395]

As always, this category fluctuates every single month. This time, it just happened to fluctuate in the wrong direction 🙁

Short Term Savings: $1,108 [down $942]

This consists of:

Emergency fund: $1,001
Personal Escrow: $100

The significant decrease in this category is mostly due to the fact that I cleaned out my wedding fund to go towards a down payment for our wedding reception venue.

Retirement Savings: $30,639 [up $2,982]

This consists of:

Roth IRA: $18,851 [up $1,767]
Traditional IRA: $8,929 [up $184]
401k: $2,859 [up $1,031]

Although the rest of this update is pretty ugly, my retirement savings definitely held it down with the nice gains.

Est. Car Value: $15,970 [down $255]

What’s there to say? I expected consistent decreases in this value since I bought brand new. I’d complain, but complaining doesn’t help.

Est. Home Value: $469,836 [down $9,164]

This biggest decrease of the quarter! I pulled this number from Zillow. I could probably pull a more accurate value from my realtor, but since I don’t plan on selling soon, this value ultimately doesn’t matter to me at this point.

Liabilities

Credit Cards: $5,382 [up $1,688]

This consists of:

Wells Fargo @ 0% – $2,820 [down $180]
Discover @ 15.99% – $2,562 [up $1,868]

I vowed to stop my wedding savings until I paid off my credit card debt. But when I have no savings for my wedding, how do I pay for all these down payments? I pay for them with my credit card… smh.

I hate making excuses, but a lot has happened in my fiance’s life and mine these past few months in terms of family issues. Debt repayment and weddings savings have been on the back burner. Until then, my debt grows. Everything is mostly settled as of today, so we’re working on pulling ourselves out of this hole to reach our goal of getting married CC debt and wedding debt free.

Student Loans: $14,650 [down $383]

This consists of:

Group A – Direct Subsidized @ 6.8% – $2,873 [down $43]
Group B – Direct Subsidized @ 6.0% – $3,657 [down $60]
Group C – Direct Subsidized @ 5.6% – $4,449 [down $75]
Group D – Direct Subsidized @ 4.5% – $2,194 [down $41]
Group E – Direct Unsubsidized @ 6.8% – $1,474 [down $163]

Slow and steady with these guys as usual. I’ve decided to no longer rush this payoff until my CC debt is gone first.

Car Loan: $15,868 [down $997]

I paid almost $1,000 toward my car loan this quarter. Great progress in my opinion!

Mortgage: $271,545 [down $1,461]

Same as above – great progress this quarter! As I mentioned above, I’m in no rush to sell my house, so the minimum payment will do just fine for now.

Yuck. Not exactly a great quarter in my opinion, but a lot of it had to do with decreases in asset values. Hopefully next update will be better.

How did the first quarter of the year go for you?

AMDG,
Lisa

3 Comments

  1. carprice.se May 1, 2015

    To know their car’s actual value will help you to shield you from unexpected financial losses on purchase and sale of car. A valuation of the professional industry professionals give you a value on your car that is time to date and as accurate as possible


  2. Liz April 21, 2015

    Glad to see your back! I missed your posts, it sucks when your finances aren’t where you want them to be but it sounds like you’ve got a good plan to get them back on track. Good luck!
    Liz recently posted…$200 is My Magic NumberMy Profile


    • Lisa E. April 22, 2015

      Aw thank you Liz! I know, my finances just aren’t too pretty right now, but I still think I can make it out of this 🙂


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