Tag Archives: car loan

March 2014 Net Worth

Hi everyone! I feel like I’ve been so MIA around here lately. I keep using the same excuse, but it’s true – life is so busy right now! Hopefully I can get back to you all with a more consistent schedule soon, but in the meantime, here’s my latest net worth update!

March 2014

Net worth as of March 31, 2014: $116,926

Overall, my net worth increased by $1,368 this month! 🙂

After last month’s ugly update, seeing an increase this month is such a relief! Although, I would have loved to see greens across the board. What can I say – I’m a perfectionist!

Cash: $2,502 [MTM ($548)]

This account fluctuates every month, nothing too crazy to note this time around.

Savings: $548 [MTM $504]

Since I dipped pretty deep into my emergency fund last month, these next months will be dedicated to replenishing that account ASAP! $1,000 is my goal for the moment. Also, this category includes my travel fund, which I will be tapping into very soon for my trip to Las Vegas this weekend!

401(k): $8,483 [MTM ($163)]

This is my 401(k) from my previous employer. Since I no longer work there, I have stopped contributing. Currently, the funds are pending to rollover into a Traditional IRA.

Why am I rolling over my 401(k) funds into a Traditional IRA and not a Roth IRA, you ask? Since the money in my 401(k) is pre-tax, I decided to roll it over into another pre-tax vehicle, hence the Traditional over the Roth. If I had rolled it over into a Roth, I would have had to pay taxes on it right now. I didn’t feel like calculating which choice was better for me, so I just decided to keep the money pre-tax. You could argue that I should have taken the time to calculate each and every option I had available but…

Is this meme old yet?

Is this meme old yet?

Roth IRA: $12,572 [MTM $519]

Although I have stopped contributing to a 401(k) for the moment (I am not eligible to open one at my current job until I’ve been there for 90 days), my post-tax contributions to my Roth IRA remain steady. Rock steady, might I add 😉 Ah, I bet Future Lisa is just beaming with pride. Or maybe she’s cursing me for not rolling my 401(k) money into a Roth IRA, haha.

Credit Cards: $2,502 [MTM ($216)]

Yes, this credit card debt is ANNOYING. It just never seems to die! But alas, I will not throw ALL my money at this just yet until I get my emergency fund back in place. I recently made the decision to pay off my cc debt over my emergency fund and almost immediately regretted it. I am definitely going to learn from that!

Student Loans: $15,963 [MTM ($58)]

A small change is a change nonetheless. Unfortunately, paying this off at lightning speed is just going to have to go on the back burner until my credit card debt is gone. Again. *sigh*

Car Loan: $19,812 [MTM ($321)]

YES – I finally broke the $20k mark on this loan! Hey, it’s the little victories that count, alright! The next milestone for this bad boy would be to no longer be underwater on the loan. I guess that’s what I get for buying brand new *facepalm*

Mortgage: $277,311 [MTM ($461)]

This will most likely by the last debt I pay off, so slow and steady is the way to go for now. Once all the other debt are gone, then maybe I’ll think about paying it off early. Maybe.

Well, there you have it – another positive jump in net worth for the books! Months like these really keep me going.

How did you do this March?

AMDG,
Lisa

February 2014 Net Worth

Holy cannoli – February was crazy! A lot has changed for such a short month, and my net worth is no exception!

February 2014

Net Worth as of February 28, 2014: $115,558

Overall, my net worth decreased by $549 this month 🙁

Not the prettiest net worth update. In fact, this might be my worst net worth update to date! But, like I said, a lot has changed in February – most notably, my job! It’s a great change, but there was a week when I was not working, which really affected my financials.

Cash: $2,657 [MTM ($966)]

Balance always fluctuates, nothing too crazy here.

Savings: $43 [MTM ($969)]

This category includes both my emergency fund and my travel fund. Since I had a week off, and my first paycheck from my new job was a partial paycheck, I had to dip into my emergency fund to help cover my expenses this month. Also, the purchase of my #FinCon14 registration tickets affected this category as well.

401(k): $8,646 [MTM $1,939]

This is the account I had with my former employer. Great gains here this month because I finally got my employer match! Since I have left the company, I plan on rolling this bad boy over into a Traditional IRA. My current employer does offer a 401(k), but I have to wait for 90 days after my first day to actually enroll.

Roth IRA: $12,053 [MTM $848]

Pretty solid gains this month – I won’t complain!

Credit Cards: $2,718 [MTM $2,718]

UGHHHHH. Yes, this does not look pretty. I’m back to credit card debt. Only temporarily though! There was a slight delay in receiving the rent payments from my mom and brother, and I had to fork over some money in the meantime. Also, my commute has changed, which means commuting costs have changed as well. I put all my gas and toll on this card and sometimes I forget to check it. I know – bad pf blogger, bad! I’m hoping to rid of this debt in a few months.

Student Loans: $16,022 [MTM ($523)]

After months of seeing no progress with my student loans, a lower balance is a sight for sore eyes. I try to tell myself that I’m “pretty lucky” because I borrowed much less than the average student, but seeing that $16k in debt just for school just doesn’t feel good no matter how you spin it. I’m not getting rid of this as fast as I’d originally hoped, but progress is progress.

Car Loan: $20,133 [MTM ($334)]

Nothing unusual here. I’m tacking on a few extra dollars here and there, but the truth of the matter is that this isn’t my priority at the moment.

Mortgage: $277,772 [MTM ($459)]

Nothing special here, either. I will be implementing a bi-monthly payment with a few extra dollars each two weeks. But just like my car loan, my mortgage is not a huge priority at the moment.

February was the shortest month, but it was also the craziest month! Just when you think you’ve got this whole net worth increasing trend going, life will prove to you otherwise. I’m not going to beat myself up too much about the decrease this month – a lot has changed and I think I’m coping pretty well. Let’s just hope next month will be better!

My priorities are now to 1) build up the emergency fund back to $1K and 2) get rid of the credit card debt (again). I definitely have my work cut out for me these next few months!

How did your February financials go?

AMDG,
Lisa

January 2014 Net Worth

I’ve been incredibly MIA here on the blog. Lots of stuff is happening, but I don’t want to officially announce anything until it is for sure.

With that being said, I’m excited to present my first net worth update for 2014!

January 2014

 Net Worth as of January 31, 2014: $116,107

Overall, my net worth increased by $812 this month!

Cash: $3,623, [+$252]

As I’ve said before, this account fluctuates every single month. Nothing special to note here.

Savings: $1,012, [+$1]

Okay, my table is probably confusing. $1,012 last month and $1,012 this month clearly doesn’t yield a $1 gain. What you’re not seeing is the rounding that Excel is doing for me. Last month, the actual balance was $1,011.51. This month, the actual balance is $1,012.35. The actual gain is $0.84.

No, I’m not consciously putting away $0.84 in savings every month. The small tiny change is due to the Keep the Change program that Bank of America has. How it works: every time I use my BofA debit card, my checking account rounds the purchase up to the nearest dollar and transfers the difference to my savings account automatically. It’s an effortless way to save, especially if you use your debit card a lot!

401(k): $6,707, [-$39]

Had a tiny dip in my 401(k) this month. Also, my employer match hasn’t shown up yet! The match should be showing up on the first of next month, so hopefully I’ll see some lovely gains in next month’s net worth update!

Roth IRA: $11,206, [+$159]

Not as big of a gain as last month’s +$665, but a gain is a gain. I’ll take it!

Student Loans: $16,545, [+$339]

Despite paying off my non-direct loan this past month, I still end up with a growing student loan balance… Yuck. On top of making a late payment last month, I also didn’t pay my direct loans at all this month. Why? I actually applied to change my repayment plan this month. Doing so took about two weeks to process, and because of that, there was nothing due for my direct loans this month. Now that my repayment plan has been approved, I’m hoping to make a ton of progress on this account this month. No more delays on these loans, I promise!!!

Car Loan: $20,467, [-$321]

I’m slowly working on this loan. Currently, I’m paying the minimum payment each month. Perhaps starting next month, I’ll round up my payments to the next $50 increment, just to hurry things along.

Mortgage: $278,231, [-$458]

Similar to the car loan, I am currently only paying the minimum. Starting next month, in an attempt to gain better control over my cash accounts, I will be paying twice a month instead of once. I’ll be splitting my regular monthly payment in half and rounding up to the nearest $10 each payment. It’s not a huge difference, but at least I’m chipping away at the principal bit by bit this way.

It’s lookin’ like Christmas up there with all the reds and greens. With next month’s employer match and with my finally starting to pay off my student loans again, next month’s net worth update is shaping up to look even better than this month’s.

How did the first month of 2014 go for you?

AMDG,
Lisa

December 2013 Net Worth

Hope y’all had a wonderful New Year’s celebration! Here’s my last net worth update for 2013:

December 2013

Net worth as of December 31, 2013: $115,295

Overall, my net worth increased by $2,957 this month!

Cash: $3,371, [+$710]

This category fluctuates every month, not much to say.

Savings: $1,012, [+$650]

Remember my impulse decision to fully pay off my credit card debt at the expense of my emergency fund? Also, remember my little freak out shortly afterward? Yea, I definitely learned my lesson and I made sure that my emergency fund was funded back to the $1,000 it was before I cleared it out *whew*!

401(k): $6,746, [+$249]

Unfortunately, I didn’t get to see my employer’s match this month. But I still managed to pull out a great gain in this account anyways! I can’t wait until my employer match shows up at the end of this month!

Roth IRA: $11,047, [+$665]

I have officially fully funded my Roth IRA for the year and the market has rewarded me graciously for doing so! Seeing this money grow has been a lot of fun, I’m glad I started saving for retirement this early 🙂 Thank you compound interest!

Student loans: $16,206, [+$100]

Alright, I’ve got to tell y’all the truth – I made a late payment this month. I know, I know, total fail for a pf blogger. I am seriously considering automating my student loan payments soon because of this. If it weren’t for this account, I would have greens across the board! And I only have myself to blame…

Car loan: $20,788, [-$325]

I am so very close to passing the $20K mark on this bad boy. I should hit that benchmark by February of this year 🙂

Mortgage: $278,689, [-$457]

You may have noticed that the balances on this look exactly the same from last month’s update. Reason being: I goofed. I used the wrong balances for last month’s update. This month’s update is the correct one!

Overall, 2013 has been a great year for my net worth! I’m so excited to see what changes 2014 will bring to it all 🙂

How was your financials as the year ended? What changes will you make this year?

AMDG,
Lisa