May was a SOLID MONTH for our Net worth. We increased our Assets and finished paying off ALL STUDENT LOANS – Balance Zero!
Total Assets: $2,021,721 down – $ 15,232 from last month. We used cash to pay off remaining student loans.
Accounts receivable, This is a business deal from 2014
Boat & Cars, Depreciating assets, but cars new in 2015
Real Estate 2nd home/vacation rental
Retirement accounts; 2 people, 2 jobs each, 5 accounts total
Brokerage accounts; 2 taxable stock accounts
College Funds; Prepaid tuition and 529 accounts or 2 kids
Bonds; ‘I bonds’ bought through Treasury Direct
Cash & Metals; 6 accounts and a security deposit box
Health Savings Acct., Just started in 2015
Total Liabilities;$444,860 down – $38,948 from last month
Mortgage on House; Bought in 2005 Interest 3.75%
Mortgage 2nd Home; Bought in 2012 Interest 3.5%
Student Loan Dead, finally Dead!
HELOC; Current APR 3.49%
TOTAL NET WORTH $1,576,861
Tracking your own net worth is perhaps the second most important thing you can do to improve your financial picture. Budgeting your expenses to see where the money goes is probably still number one.
Budgeting is like paying attention to ball game while tracking net worth is like paying attention to the baseball season.
Months can goes up or down, you need a longer picture to evaluate your progress. You are either bringing in more money than you’re spending or you are losing money each month. Tracking Net Worth is easy, useful, and addictive.
WooHoo! No more Student Loans. that’s got to be an awesome feeling to have them gone. Congrats.
Congratulations!!! Good riddance to those student loans! Will you be targeting the HELOC or mortgage next?
I thinking the HELOC because it has a variable rate and could jump up.
Yay it’s been killed! Was waiting for that to come. Do you guys feel any different psychologically? Celebrate?
DW says it is not real for her yet b/c I am the one who was handling payments all the time. I feel fleeting waves of relief, but overall it is an anti-climatic sensation compared to what I thought it would feel like.
Finally took down that college debt – gotta be an awesome feeling since you can move that cash flow into investments that will grow for you now!
$700/month extra to do with as I please!
Do you use a Financial app for this graphic?
no it is a generic graph from excel and I update it manually every month.