October has been a month of adjustments. We took what we learned in September and started making changes to positively impact our declining cash. I am sticking to my prediction from my last net worth update that we will see improvement on the November update. Until then, here is a good representation of what last month was like (last 2 months really):
OK OK, I’m exaggerating a bit. The entire month wasn’t too bad. We stuck to our goal of not going grocery shopping during the week, which cut our grocery bill down to where it needs to be. We were much better about planning dinner, eating that dinner, and eating leftovers. Our retirement accounts continue to be funded. Anyway, how bad can a month be that has a net gain in net worth and retirement accounts? Answer: Not bad at all.
Keeping the house at the same value (explained in this post.) The Zillow estimate that I will start using in a few months dropped $4,264 to $345,914 in case you are wondering. Our goal is to never sell this house, but it’s nice that we have good equity (even after taking the Home Equity Loan out.)
This seems to be a much more sensible drop in value that last month’s 5.15% depreciation. Still a lot of depreciation in the last 2 months. I did look into selling one of our cars to a dealership because it looks like we are getting a “free” car. They offered $10,000 for it. Meanwhile the exact same car in a harder to sell color with 15,000 more miles on it was sitting on the lot for $14,500. I think I will be able to get $12,500 for it, that would sure help our cash line for next month!
Very small gains this month when you consider that roughly $2,200 came from contributions. But growth is growth and we passed another $10,000 threshold of $120,000. I’m up 13% for the year in this account. I just hope I’m mentally ready for the inevitable downturn and don’t freak out when this account drops by $30,000+.
Roth IRAs (+855.57)
Some decent growth in the Roth IRAs due to a few of the individual stocks turning around a bit. Here are each stocks’ total gains and total values since I purchased them:
The tiniest of tiny gains to this account. It actually lost money when you factor the $100 that went into the account over the last month. However, the Monster Vacation Fund continues to grow.
The largest cash burn we’ve had since June. We had some obligations to pay off at the end of the previous month that hit the bottom line of this month. I am expecting to be in a better cash position at the end of this month, whether or not we sell our car. Keeping our grocery bill in check will also be a big factor in keeping our spending low and our cash position high. We’ll know how we did in 30 days.
About $2 closer to having half of our monthly payment going towards the principle. We aren’t doing any over paying on this loan, we are deploying extra money towards the higher interest rate Home Equity Loan and retirement accounts.
Equity Loan (-$644.80)
There is something so rewarding about watching how quickly this loan is shrinking. Next month will have an extra payment, so $1,350 in total will be deployed to strike this loan down. I’m looking forward to seeing this balance drop into the $40k’s and $30k’s over the next several months.
Car Loan (-$431.09)
Close to 90% of each monthly payment is going towards the principle, which is great! What would be even more great would be to sell this car for $12,000 and pay the loan off.
Previous 12 Months Net Worth
The chart below shows a rolling chart of how our Net Worth has changed over the last 12 months, which is always nice to see.
This month we are up to $161,442.63, a gain of $3,576.01 over September. Our stepping stone goal for 2018 was to hit $150,000 in total, so we are about 7.5% above that goal with 3 months to go.
So there you have it. September came and went. This whole year has turned into a blur. It really is going to be Christmas in no time, especially with how my work schedule is looking over the next 4-6 weeks.
Last Month’s Goals
- Don’t buy food/groceries during the week – Pass!
- Post 2 times per week – ALMOST Pass… I missed 1 post last week
- Read a book – FAIL… I thought about reading a book.
- Get that free car
- Sell my car for $11,500 minimum
- READ A FREAKING BOOK
Until next time – Have a great day!
Are you interested in tracking your Net Worth?
Tracking my net worth was one of the first and best decisions I made to start getting serious about saving for my future. Back in April 2017 I created a Personal Capital account to make it easier to keep track of my accounts. Instead of hopping from website to website to add up my different accounts, I just needed to visit Personal Capital to see them all in one place.
It is a great tool that connects your different bank and investment accounts all in one place. Once you add your accounts, they will update automatically. It is easy to see how your spending (and saving!) affects your total financial picture. It is incredibly easy to use and very straightforward.
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