Tag Archives: student loans

August 2014 Net Worth Update

I hope everyone had a wonderful Labor Day weekend! Let’s jump right into the net worth update…

August 2014 Net Worth Update

August 2014 Net Worth Update

Net Worth as of August 31, 2014: $213,850

Overall, my net worth increased by $2,175 this month!

Cash: $2,575 [MTM $1,201]

An absolutely beautiful increase for my cash accounts this month! Thank you, over-time!

Savings: $1,225 [MTM $102]

My emergency fund is sitting pretty at about $1,000, earning less than 1% in interest. But hey – that’s okay, the purpose of an emergency fund isn’t to grow rapidly, it’s to simply be there in case something goes wrong. The rest of my savings right now is in my travel fund, ready to be used as play money at FinCon14 this month!

401k: $686 [MTM $273]

Again, great increase in the ol’ 401k this month. This not only includes my contributions, but also my employers and those amazing market gains!

Traditional IRA: $8,946 [MTM $160]

All market gains for the Traditional IRA this month!

Roth IRA: $15,621 [MTM $731]

I hate to sound repetitive, but not really because I can say thank you market gains all day! Yes, I max this out every month, but this increase was more than my contributions, which is always great!

Est. Car Value: $16,242 [MTM ($1,579)]

Ew. It’s no secret that I bought my car brand new almost two years ago. And there’s a reason why this is a big no-no in the pf community. Huge decreases in value like my car had this month is definitely #1 on the list of why buying brand new just isn’t a good idea. With that being said, I still don’t regret buying new, especially because I plan on running my car to the ground. Usually, I don’t really care too much about owning a brand new car. But it’s decreases like this that make me think twice.

Est. Home Value: $479,000 [MTM $0]

Last month’s increase for my home value was a huge help to my net worth! I wish I could have $88k increases every month 😉 But alas, home values don’t usually work like that. Also, I’ve decided to only update this value once year, just to be conservative.

Credit Cards: $1,813 [MTM ($352)]

I am so sick of this credit card debt! But thankfully this month went my way – a decrease in my balances by $352 is awesome! It doesn’t look like this debt will disappear as fast as I’d like (which was practically yesterday) but as long as this balance slowly and consistently decreases, I know that eventually, I’ll get there.

Student Loans: $15,527 [MTM ($127)]

Same with my credit card debt, these student loans are slowly and steadily disappearing. Like, so slow a turtle is dragging it along to keep up. My mini goal for the moment is to get these down to $15k flat.

Car Loan: $18,171 [MTM $330)]

A solid decrease on my car loan this month. Nothing new, but progress is progress 🙂

Mortgage: $274,935 [MTM ($478)]

Again, slow and steady progress is just the theme for me and my debt right now. I pay the minimum payment on my mortgage and will be paying the minimum for a long time simply because it is the last on the priority list.

This past weekend was crazy and I can’t wait to share it all with you. Also, look out for my August 2013 expense tracking results! In the meantime, let me know…

How was your August?

AMDG,
Lisa

June 2014 Net Worth Update

June was a fabulous month for me and my net worth! Without further ado, here is my June 2014 Net Worth Update!

June 2014 revised

Net Worth as of June 30, 2014: $123,137

Overall, my net worth increased by $3,591 this month!!!

Let’s head straight to the break down:

Cash: $2,525 [MTM $132]

As I’ve said before, this category fluctuates every single month. I love it when it fluctuates in my favor! 😉

Savings: $1,222 [MTM $201]

Now that my emergency fund is at $1,000.00, I’m shifting my savings goal for the moment to my travel goals for the year! I’m going to San Diego at the end of this month, FinCon in September, and hopefully SoCal in December! I’ve got a lot to save for!

401k: $142 [MTM $142]

This is a new line item this month! I’ve been at my current job for almost 5 months now. Up until now, I couldn’t sign up for a 401k because of the initial probationary period at the start of my employment. Now that that’s over with, I’m now contributing to a 401k! My match is the same as my match at my old employer – my company will match 100% of my contributions up to 3% of my salary. Free money, baby! Another great thing is that the match is put in every single paycheck instead of once a year, which was how my last job did it.

Traditional IRA: $8,898 [MTM $156]

Not bad for an account that I’m not actively contributing to! These are all market gainz, baby 🙂

Roth IRA: $14,608 [MTM $693]

Every month, I contribute about $460 to my Roth IRA. Which means that the rest of this month’s increase, which is $233, is all from market gainz! My favorite kind of gains 🙂

Est. Car Value $17,821 [MTM $0]

I just updated the value last month, so no change this month. Next time I’ll record an update will be for August.

Est. Home Value $390,000 [MTM $0]

Zero change this month for the house value. Since I bought my house in July 2012, I’ll be updating this value next month!

Credit Cards: $1,579 [MTM ($1,407)]

I’ve chronicled my terrible relationship with credit cards in my three part series: Tired of Credit Card Debt – A Bad Love Story (here are parts one, two, and three). In the final part of the series, I declared war with my credit card debt for the millionth time, and I meant it! I paid off a huge chunk of my CC debt this past month. I’ve been working a ton of overtime lately, and all of it has been going straight to my cc debt payoff! I absolutely can’t wait until this debt is gone for good!

Student Loans: $15,780 [MTM ($59)]

Very, very, very slow progress with my student loans. But as I’ve said before – progress is progress. I’m currently paying a little over the minimum, but once my credit card debt is gone, I can focus more on these bad boys.

Car Loan: $18,831 [MTM ($326)]

I hate my car payments, but I do love my car. This debt isn’t a priority for me since, luckily, I got a great rate on the loan! This will be the next to go after the student loans.

Mortgage: $275,890 [MTM ($475)]

Again, slow and steady progress with this loan. And again, this is not a priority for me. With that being said, I love seeing the balance decrease on this loan. Who doesn’t?

An amazing June with greens across the board – love it!

How was your June?

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

Choose to be Different

The first half of this week has been filled with anxiety and stress.

Actually, I take that back. These past few months have been pretty stressful, to be honest. This job hunt is not easy, and it’s taking a lot longer than I’d like. I’d like to say I’m trying my best not to complain, but there have definitely been some days where I just couldn’t take it anymore.

Anyways, all this stress and anxiety has come to a high point this past week. I’m waiting on some results in regards to a job opportunity and I’ve been incredibly impatient. If everything goes according to plan, I should find out by the end of day today.

The closer I get to finding out, the more nervous I become. So, as you can imagine, I’ve got a ton of nervous energy running through my veins right now.

I can tell you exactly what Past Lisa would have done with all that nervous energy. First would come the stress eating – chocolates, cookies, you name it. Not to mention a few glasses of wine and/or beer. Next, she would probably stay up late each night, surfing the internet, reading articles – fixating my attention on anything to distract me. Finally, she would probably go shopping for clothes and shoes that she didn’t need.

But this week, instead of resorting to the usual nervous habits of Past Lisa, I chose to be different.

  • Instead of stress eating – I’ve been practicing portion control. I’m not exactly on a diet, but I’ve been more mindful of what has been going into my body and how much. As far as alcohol, I have been cutting back considerably lately.
  • Instead of staying up late with distractions – I’ve been trying my best to sleep at a reasonable hour. As a result, I’ve been waking up early on weekdays, usually around 5:30 am. (That’s one thing I can cross off my 2014 goals!) On top of that, I’ve been going to the gym 3x a week during the early mornings.
  • Instead of shopping – I decided to pay off one of my student loans!
My updated student loan situation.

Bye bye, non-direct loan!

So, what happened?

Honestly, I’m not too sure what exactly took me from Past Lisa to Present Lisa. But I do know that a lot of it started when I just decided to be different than who I was. You can always choose to be different at any point in your life. From that point, you can either follow through with your decision or you can ignore it and stay the same way you’ve been up until this point.

Yes, there was a point in time when I associated anxiety with food, wine, distractions, and retail therapy. But I’m here to tell you that it’s possible to change your perspective to something more healthy, productive, positive, and budget friendly! Change doesn’t happen overnight, but it does happen!

How would you like to change? And what will you do to get there?

AMDG,
Lisa