Not as sexy as a previous month’s $27k power charge , but it’s nice having 100% of our money invested or saved once and for all (we had some outstanding issues that have since been taken care of).
And now that I’ve maxed out both my Roth AND 401(k), it’s all up to the markets ’till the new year starts! The only category that should continue to grow by my own doings are our cash savings. I’ll be storing away as much cash as possible for the rest of the year, getting our padding back up, and then it’ll be back to retirement investing all over again ;) I don’t intend to bring home *that* much more every month, but needless to say my reserves aren’t where they used to be after all those 10% paychecks the past cple months…
As always though, these monthly updates just go to show that healthy management and patience goes a long way! As you can see from the newer graph up on the top right corner it’s been a nice momentum straight into the $100k’s. There’s no way we could have done all that by dicking around and spending freely – it’s all about finding that groove.
Here’s how September’s net worth breaks down:
CASH SAVINGS (+$323.57): My “regular” paychecks hit mid-month, so we’re now back up to positive territory here – even WITH our drop in cash reserves by $1100 every month (to “pay” for the Mrs. part of our mortgage/house stuff while in Grad School). Eventually, this Pay it Forward money will dry up and force us to tighten up even more. But for now we enjoy what the Big Man upstairs has provided us :)
EMERGENCY FUND ($0.00): Our $10k is still sleeping away in our Money Market account. There are some other funds mixed in there (like that pay-it-forward $ I just mentioned) so I can’t tell how much interest our Emergency Fund is gaining, but it’s surely adding up. At the end of the year I’ll have to take another look at this $10k number and see if it’s still the right amount….me thinks we may have to up it.
ROTH IRAs (+$387.37): My Roth IRA is maxed out and just flowing with the economic waters…It’ll be left alone until 2010 when I can begin investing again. I owe all my success here to Operation Buffett. Well, him and the recent surge in markets ;)
401(k)s (+$5,406.85): We’re all maxed out! One more deposit will hit in October, but other than that it’s time to take a break and feel happy about hitting the $16.5k mark early this year. This is my 3rd year in a row maxing it, but the first doing it so early. Pumping this fund really is one of the best things you can do, so if possible go for it! It’s one thing I preach AND actually do myself. haha…
SAVINGS BONDS ($0.00): Deleted from net worth since cashing in all my bonds…
AUTOS WORTH (kbb) (+$275.00): Don’t even ASK me how this came about…either I f’d up while tracking them (probably the case), or there’s a new demand for 16 y/o Cadillacs ;) Here’s how both our cars break down in value:
HOME VALUE (Realtor) ($0.00): This will remain @ $300k (the price our realtor set it at) until I hit him up later for another review. He’s the master in our particular neighborhood, and has been selling (and living) in this area for 20+ years. I keep an eye on Zillow & Redfin.com as well, but they fluctuate so much that I never can tell what’s real and what’s hype.
CREDIT CARD (car loans) ($0.00): Still at Zero! The previous debt here was an “auto loan” that I happened to charge on my credit card – effectively setting my interest @ 3%. I don’t recommend this for everyone, but the method works well if you know what you’re doing and don’t have outstanding debt lined up. I’ll get rid of this category one day…
MORTGAGES (-$4.80): We’d love to refinance our first mortgage, but unfortunately we’re still too under water to get anywhere with it. We’ve also been slacking on paying extra towards them the past couple of months, which I really blame on not doing a good job managing our “house budget” (where we get this extra money to apply to them). Some recent traveling and beer store splurges have eaten it away I’m afraid…I’ll have to get back on that. Here’s the breakdown of both our mortgages:
- Mortgage #1: $287,150.36 – 30 year fixed, interest-only @ 6.875%.
- Mortgage #2: $62,808.73 – Maxed out HELOC w/ 2.8% interest.
There you have it. Another month come and gone. How did September treat you all? Anything juicy to report? I hope so, I could use a cool story this morning :) Been a bit hectic at work and haven’t been able to catch up with some of you as much as I’ve liked. So here’s to a productive and relaxing October! May your pockets be full of coin, and your mouths stuffed with muffins.
*My budget has now been updated.
**And so have my sidebars.
- The "Budget/Net Worth" spreadsheet - the colorful Excel template I personally use.
- The "Money Snapshot" spreadsheet - a simple Excel template I created for my former $$$ clients
- PersonalCapital.com (free) - a great way to track your net worth AND investments. You can see our full review of them here: Why I Use Personal Capital Almost Every Single Day
- Mint.com (free) - the original lazy way to automate your budget/net worth