As I mentioned in last month’s update, we’re pretty much on autopilot ’till the end of the year (when it’s time to max out the 401(k) and Roth all over again). This is great financially, but perhaps a bit boring to read so my apologies in advance ;)
With most of you guys, the stock market pretty much controls the major changes these days – with the exception of us storing away as much cash as possible. We gotta start the new year off right, and nothing says stable like a nice pile of money ;) Although I was pretty excited we paid off over $250 of our mortgages for once! We’ve been slacking on that for a while now, so it’s good to be back on track again. (We could obviously use more of the free cash to pay it down, but we’re gonna hold off until more secure waters lie ahead. Which, if you think about it, is pretty conservative for such a risk taker, eh? I must be getting old. I do turn 30 this month!)
Here’s how November’s net worth breaks down:
CASH SAVINGS (+$2,471.92): It’s amazing how much more you bring in w/out those retirement deductions ;) As I explained above, we’ll be sitting on a lot of this extra money for a while until it’s time to start funding our retirement accounts again. And in 2010 we’ll try and get Mrs Budgetsaresexy’s Roth maxed out too! (she has no 401(k) while in grad school)
EMERGENCY FUND ($0.00): $10,000 still sitting in our money market account earning little by little. I’d list the interest amounts but we have other funds in the same account so it’s all mixed in. Emergency Funds remain boring as can be, but my goodness do they come in handy when you need ’em!
ROTH IRAs (+$882.84): Since we’re all maxed out, this increase is 100% up to the market so I can’t claim any level of skill here ;) I will say that we’ve started the process of rolling over the wife’s Roth IRA and TWO other IRAs into one main USAA account though! It’s very exciting stuff, let me assure you. Especially when PNC bank (where 1 of her 3 accounts lie) like to xfer you into their voicemail during hours of operation – only to tell you later you can’t access any of your info online since you only have one account! What if that one account “only” had $300k? Very frustrating & annoying, but it’ll soon be all over and back at home with our other accounts. Thank you for being wonderful USAA!!!
401(k)s (+$3,966.35): $0.00 deposited, $0.00 matched, and 100% up to the markets. I’m still debating on how to best max it out for next year (do we divide it up into 24 pieces? frontload it all in the beginning?) but it’s all a good problem to have. The nice part here is having the OPTION to contribute at my own choice since we’re storing away so much cash right now. If I do decide to go down crazy land again @ 90% contributions, I’ll have enough money to pay all the bills & survive in the meantime ;) It’s all about the options my friends!
AUTOS WORTH (kbb) (-$450.00): I much prefer this “normal” valuation over my latest updates of +$250 and +$50 (so weird?!). It all feels back on track now. haha…and a huge shout out to my Caddy! I hope you last me many a years my friend – freakin’ love pimping you around.
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 charged 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.
MORTGAGES (-$260.83): No refinancing anytime soon, but we’re back to paying off more every month! I know one in a row doesn’t seem like much (unless you’re the Redskins- hah!) but every last penny you apply to debt really does save you lots more down the road – even just $25. Not only that, but getting into the rythm can help you stay motivated and on track too, so I’m pretty happy w/ my one in a row right now ;) Here’s how both our mortgages line up:
- Mortgage #1: $286,950.36 – 30 year fixed, interest-only @ 6.875%.
- Mortgage #2: $62,757.51 – Maxed out HELOC w/ 2.8% interest.
That’s it for this month, friends. I hope you guys are doing well too! Any major ups or downs going on? Anything we can help out with? You’re welcome to holler any time, we gotta do what we can to back each other up ;) Here’s to a great month of family time and positive cash flow!
*My budget has now been updated.
**And so have my sidebars.
*** As well as my mohawk. Just kidding.
- 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