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June 2015 Net Worth Update
What! It’s July already?!?! Seriously, life is just moving too fast, y’all.
Overall, my net worth increased by $31,567 this month!
What! That’s insane!
Mind you, most of it is due to my updated house value number. But I’ve also made some great progess on my credit card debt and all other debts, in general.
Cash: $3,181 – up $487
Someone pointed out that my cash balance is enough to pay off my credit card debt altogether. Which is true, but this money is reserved for house bills (mortgage, electricity, gas, water) and a lot of these bills are paid either every other month or one a quarter. As much as I’d love to just pay my debt off immediately, I keep it in my bank accounts for future bills.
Short Term Savings: $2,251 – up $1,099
My savings buckets are all with Capital One 360. They make it easy to see all your savings at once! Here’s what mine mostly consists of this month:
Emergency: $1,001 – no change
Personal Escrow: $160 – up $20
Wedding: $1,083 – up $1,080
Wait, didn’t I say I stopped saving for my wedding? The funds in there actually aren’t from me. My mom graciously offered to help pay for the wedding, so she’s sending me money once in a while for safe keeping. However, since I’ve got a goal to be credit card debt free before the wedding, I’m thinking of throwing that money at my remaining credit card debt.
Retirement Savings: $32,109 – down $758
This consists of:
401k: $3,755 – down $61
Traditional IRA: $9,081 – down $228
Roth IRA: $19,273.25 – down $469
Yuck. Of course the market takes a little dive the month I decide to stop saving for retirement. I’m pretty far from retirement, though, so I’m not going to worry too much about this. I know that in the long run the market will pick up, so I’m not going to stress over this.
Estimated Car Value: $15,365 – down $605
I look up the value of my car on Kelley Blue Book every quarter and update my net worth as necessary. The car always goes down in value, without fail. That’s what you get for buying brand new.
Estimated Home Value – $497,668 – up $27,832
Aw baby! I check Zillow when I want to see the value of my home. As awesome as this looks, I’m not planning on selling soon, so this value doesn’t necessarily mean anything to me right now. But those gains look damn good!
Credit Cards: $1,554 – down $2,552
This consists of:
Discover @ 15.99%: $20 – down $1,323
Wells Fargo @ 0.00%: $1,534 – down $1,228
Despite the huge $31k jump in net worth, I am most excited about this one! I am so close to being credit card debt free, I can taste it! I really buckled down last month and threw whatever I could at this debt and it shows! Hopefully by next month, this will be a nice fat $0!
Student Loans: $14,264 – down $131
This consists of:
Direct Subsidized @ 6.8%: $2,830 – down $15
Direct Subsidized @ 6.0%: $3,597 – down $20
Direct Subsidized @ 5.6%: $4,374 – down $25
Direct Subsidized @ 4.5%: $2,153 – down $14
Direct Unsubsidized @ 6.8%: $1,311 – down $5
Another solid month for the student loans. Can’t complain!
Car Loan: $14,865 – down $336
The minimum is all I’m throwing at this loan right now. Slow and steady is the motto.
Mortgage: $270,069 – down $493
Same with the car loan – slow and steady with this one.
Overall, my June 2015 net worth update had it’s ups and downs. Mostly ups! Can’t wait to tackle some more debt this month.
How was your June financials? Did you stay on track with your goals?