I can’t believe it… two full years of working toward this goal and we finally did it :) MAN it feels good.
It also feels like we cheated (it’s obvious it’s all due to the stock market!) but I’ll take it nonetheless. Someone had to put that money in there, right? Haha…
And now the tough part comes – growing it. I was going to say “maintaining” it but that seems pretty lazy, even if it is kinda what I’m thinking ;) I’ve been in money-hungry mode for so long that I really just feel like taking a breather for a bit and letting it ride. I won’t because I need to be on my game now more than ever, BUT I think it’s important to take a step back and soak it all in. It’s a milestone, baby! All that work paid off. Literally!
But when reality sets back in again, it’ll remind me that my solid paychecks are no longer a comin’. And if I don’t hustle hard enough, there’s a good chance those numbers will start going down. Obviously a path I want to avoid as much as possible :) I don’t mind even-steven, or tiny gains per month, but I don’t ever ever ever wanna see steady declines or plummets. Those things are scary, and I give you permission now to bitch-slap me if you ever see it happening. *shiver*
On with the show!
Net Worth break down: December, 2010
CASH SAVINGS (+$287.13): Gone are the days of multi-thousand cash gains ;) When you lose a salary of $70,000, you can’t expect to have a superfluous cash flow anymore. One of the trade offs of changing your lifestyle… but would I take it all back if I could? HELL. NO. I’m much more happier now with less than I was with way more :) Although I’d be even MORE happier if some ASSHAT would give me my last paycheck! Arghhh….
EMERGENCY FUND ($0.00): The wife and I were talking last night about taking part of this and just knocking out those pesky credit cards once and for all…. I honestly didn’t mind it before (in fact I preferred it), but times have changed and now I gotta be a lot more frugal. So don’t be surprised if this number goes down next month – for the first time in 3 years!
ROTH IRAs (+$1,412.34): The last time I can say I have fully maxed out all my retirement accounts :) The new year has set all the clocks back to $0.00, so it’s a whole new ballgame, folks! (and one I’ll be sitting out for a bit)
401(k)s (+$9,119.17): Same with this guy. All maxed out and starting back to $0.00 again. Only I’ll have to find a new tool to invest in now that I’m self-employed… I wanna say I’ll be looking into a SEP instead? I need to do more research on that one. Once I get the extra funds rolling in. For now, it’s operation stay afloat!
AUTOS WORTH (kbb) (+$1,140.00) : Yeah, don’t even ask. I swear Kelly Blue Book just jumps like CRAZY sometimes! I doubled, and even tripled, check this one. KBB is telling me our cars are worth a lot more this month than last. I don’t buy it, but it’s how I track it. So…
HOME VALUE (Realtor) ($0.00): Same ol’ deal here – keeping it at $300k as our realtor set it at a while back. We think it’s still in the ballpark since our neighbor’s house had an offer of $297k not too long ago, but it’s certainly possible it’s gone up or down since. We’re fine with it here for now.
CREDIT CARDS (-$1,800.57): Whelp – looks like it’s time to finally pay this off! No more saving for my “work for myself” fund since the day has already come! Haha… Although I feel bad taking the one thing you all liked to give me crap about away ;) I know how much you enjoyed that!
MORTGAGES (-$308.83): Continuing to knock some off every month… our trick of rounding up to the nearest $100th seems to be working. Not sure if we’ll keep doing this or not, but for now the plan shall remain. Here’s the breakdown of our remaining mortgages:
- Mortgage #1: $286,499.88 – 30 year fixed, interest-only @ 6.875%.
- Mortgage #2: $62,160.30 – Maxed out HELOC w/ 2.8% interest.
There we have it. 2010 all wrapped up and stored away. My apologies in getting this out so late this month, something more interesting kept coming up! (at least to me :) haha…) Shout out to LaToya who got me to finally sneak it in.
Hope all of your Net Worth adventures are paying off too!!! Keep working hard and tracking those numbers – it all leads to being smarter! (and richer)
- The "Budget/Net Worth" spreadsheet - the colorful Excel template I personally use.
- The "Money Snapshot" spreadsheet - a simple Excel template I created for my old $$$ 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