I hope everyone had a wonderful Labor Day weekend! Let’s jump right into the 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?